World Gold Council said jewellery purchases in world's largest gold consumer, India rocketed by 291 per cent to 147.5 tonnes in the first quarter.
In its report named Gold Investment Digest, the WGC also said India's total consumer demand surged 698 per cent to 193.5 tonnes.
Dubai World DBWLD.UL warned that lenders, aside from the government's own support fund, would face a significantly worse deal if its debt plan fails and it is forced to seek liquidation, according to the debt restructuring plan outlined to bankers on Thursday.
Struggling state firm Dubai Worldis ready to use a special tribunal to force rebel lenders into line on plans to delay repayment of $14.4 billion in debts, according to a source familiar with the matter.
Now, will Ireland help gold prices go up? It seems so. When Dubai economic crisis unraveled, gold prices zoomed. When Greece economic tragedy came to the light, gold prices soared.
Now, Moody's Investors Service downgraded Ireland one notch, to Aa2 from Aa1, although it remained comfortably above junk level. Moody's also changed the outlook on the ratings to stable from negative.
Bank of Japan Deputy Governor Hirohide Yamaguchi said on Wednesday the central bank has not guided monetary policy with a specific currency rate level in mind, and will not do so.
Stocks rose on Monday, spurred by optimism ahead of earnings from key technology companies and after Dow component Boeing announced strong orders.
Aircraft leasing firms made a major comeback on Monday, as industry veteran Steve Udvar-Hazy dropped $4 billion on A320s and former arch-rivals at General Electric doubled his efforts.
Stocks rose on Monday, boosted by solid earnings from Halliburton and a strong order outlook from Boeing, but gains were capped by a drop in homebuilder sentiment and some disappointing corporate revenues.
Stocks were modestly higher on Monday, but gains were hemmed in as downbeat homebuilder sentiment offset solid earnings from Halliburton and a strong order outlook from Boeing.
(Corrects title, location of Michael Sheldon in 6th paragraph)
Stocks slipped on Monday as gains from Halliburton and Boeing were erased after a homebuilder index fell to its lowest point in more than a year, sparking new fears about the pace of a recovery.
Middle Eastern buyers were ready to place some of the largest orders at Farnborough as the global aviation industry's biggest airshow opened in the sleepy southern England town on Monday.
The Dubai Gold & Commodities Exchange today announced that its total volume for 2010 surpassed the one million contracts mark on July 13, 2010 the earliest it has exceeded this milestone in any year since inception.
The UAE employment market is improving, but remains to be unstable and inconsistent, corresponding to a report released today by Big Daw, a worldwide job search website
Troubled state conglomerate Dubai World has invited creditors to a July 22 meeting to offer details on its proposed debt restructuring, the first such session to include all lenders since December last year.
(Corrects in fourth paragraph to say a 122 million share holding, not a value of $122 million)
British oil company BP has approached sovereign wealth funds with a view to securing a strategic investor to fend off takeover bids while it deals with its massive U.S. oil spill, a senior UAE source said on Tuesday.
Shareholders in BP balked Monday at reports it would seek a strategic investor to ward off takeover bids, as the clean-up costs of its massive U.S. oil spill topped $3 billion.
Investors are looking for signs of renewed lending growth from upcoming Gulf Arab bank results, where provisions for bad and doubtful debt will continue to weigh on second quarter profits.
U.S. stock index futures rose slightly on Monday after global leaders pledged to cut government deficits and adopted a more flexible timeline for banks to take on new capital rules.
Dubai's ruler said the emirate would go forward with all development projects within a year in an interview with CNN broadcast on Friday, after billions of dollars worth of projects were canceled in the wake of the global financial downturn.
Dubai Multi Commodities Centre (DMCC) and the World Gold Council (WGC) have launched The Palm edition of the prestigious 'Visions of Dubai' (VoD) gold coin series. The coin features the image of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on the front and The Palm Jumeirah, one of Dubai's iconic landmarks, on the reverse.
