BMW, the world's biggest premium car maker, increased sales volumes of its flagship BMW brand by 12 percent in July thanks largely to soaring demand in China.
Car sales in China rose at their slowest in 15 months in July as the world's largest auto market cooled further after a roaring 2009, but Indian sales hit a record high thanks to sound economic prospects and new models.
McDonald's Corp reported a better-than-expected 7 percent global increase in sales at established restaurants in July, fueled by new drinks like smoothies, extended hours in Europe and strength in Asia.
Problems at the mines in South Africa, increasing demand due to the rise in auto sales and emerging markets like India and China will ensure that platinum and palladium outperform gold in the coming years.
Following China's decision to open up the gold sector by allowing more banks to trade in bullion, Indian banks have also decided to approach the Reserve Bank of India for permission to trade in gold.
Several banks have moved the RBI seeking permission to trade in gold in the domestic market and even hedge their requirements on futures exchanges.
Oil prices rose to above $81 a barrel on Monday, as a weaker dollar supported prices that had fallen for three straight days last week, in part on poor U.S. economic data.
Analysts said the dollar, which is slipping toward a 15-year low against the yen, could, along with rumblings of geopolitical tensions in the Middle East, continue to bolster oil prices that last week ended above $80 for the first since May.
China's economy will enjoy a strong, stable second half, putting it on course for full-year growth of about 10-11 percent, a leading government economist said in comments published on Monday.
Global commodity prices have begun to soften as China's economic juggernaut slows. The prices of steel, zinc and aluminium have fallen in the past three months. China's manufacturing sector growth rate has dropped to February 2009 levels, when global markets had just bottomed out after the Lehman impact. While absolute price levels still remain above the year-ago levels, the softening of commodity prices is expected to impact Indian companies in coming quarters.
Congo is one of the copper giants in the world and certain taxes levied by the government for copper exports have been worrying the exporters for quite sometime. But, things are changing fast now. Congo is now mulling changes in taxes levied on exports of semi processed copper and cobalt after appeals from business community which says illegal taxes are crippling sectors across the board.
China is the biggest power house for all the mining companies in the world now. With the liberalization of the gold market, more and more mining companies are now focusing on China market. Recently, mining giant Rio Tinto announced that its profit doubled in the first half of the year due to the demand from China.
General Motors India will launch a range of mini-trucks and passenger vehicles in its joint venture with China's SAIC two years from now.
The ongoing Diggers and Dealers conference here addressed issues relating to global gold industry amid increasing demand.
The annual conference in the gold mining mecca of Kalgoorlie is Australia's biggest meeting of miners, prospectors, financiers, brokers and contractors.
Hyundai Motor Co, South Korea's top automaker, aims to sell about 17 percent more cars in India this year as the fast-growing south Asian country boosts consumer spending, a top official said on Friday.
Apple Inc is in talks to buy Chinese software maker Handseeing, an executive at the Chinese company said on Friday, a deal that would mark the iPhone maker's first acquisition in the country.
India and China, the power engines of the East, are now the force behind the rising gold demand. If Chinese and Indian customers stop buying the yellow metal, the bullion market will collapse within days. So much is the power of rising middle class in China and India that they are rising in both number and percentage terms dramatically, as these nations are developing on every front.
Gold prices advanced towards its biggest weekly gains in two months as traders await a key US data for more clues.
Gold for immediate delivery was seen trading at $ 1195.43 an ounce at 12.00 noon Singapore time while U.S. gold futures for December delivery was at $1198 an ounce. on the comex division of Nymex
Crude oil prices were steady on Friday near $82 before a report expected to show U.S. employment declined for a second straight month in July, as investors watch for clues to the pace of economic and energy demand recovery.
In a world of monster fiscal deficits, Canadian Finance Minister Jim Flaherty has a luxury problem: The strong economy is pushing up his currency.
Germany's luxury carmaker BMW expects its China car sales to rise more than 30 percent this year, boosted by the country's robust economic growth
India's Mahindra & Mahindra is planning bid up to $400 million for troubled South Korean automaker Ssangyong Motor, sources said, as it seeks to become a major global utility vehicles maker.
China's banking regulator has ordered lenders to test the impact of a fall in house prices of up to 50 percent in key cities where prices have risen sharply, banking and regulatory sources said on Thursday.
Slowly China is turning into a Gold's own country. Till now India boasted of its unchallenged gold power with the farmers and most of the 1 billion people buying the yellow metal on any religious or special occasions.
