Blackstone Group will manage a $2-billion-plus Asian real estate fund of Bank of America-Merrill Lynch, in a deal that will close in the third quarter, sources familiar with the situation told Reuters.
HSBC's Saudi affiliate SABB bank missed forecasts and two other banks in the kingdom reported sharp falls due to high provisions to counter exposure to troubled Saudi firms and a slowdown in lending.
With gold prices ruling very high in India, gold scrap sales showed huge increase in jewellery shops.
In fact, jewellery shops are seeing a 10 per cent rise in scrap sales whereas their sales are at a very low level.
Is uranium turning out to be the hottest commodity-hotter than gold-in China? China has been trying to amass gold reserves to emerge as the largest yellow metal owning country in the world. But China's craze for commodity investment does not just stop by gold alone. Uranium is one commodity that the dragon country is heavily investing in these days.
While offshore natural gas discoveries have spurred Lebanese and Israeli saber-rattling in a region widely viewed as rich in energy resources, a London analyst said it is too early to make categorical claims about the size and ownership of the potential reservoirs. In the last several months, Noble Energy Inc., based in Houston, Tex., and Israeli companies have announced two offshore gas discoveries known as Tamar and Leviathan that they say may hold about 24 trillion cubic feet of gas.
Asia has emerged as a global economic powerhouse but is now faced with policy challenges from rising capital inflows, the International Monetary Fund chief said on Monday.
The policy deadlock in Japan resulting from the ruling party's drubbing in upper house elections raises obvious concerns for Prime Minister Naoto Kan.
But the Bank of Japan should be worried too.
Gold slipped in Europe on Monday, surrendering some of the previous session's more than 1 percent gains, as the dollar firmed and fresh investment flows into the metal dried up and concern over euro zone risk receded.
The euro fell against the dollar on Monday, pulling away from a two-month high as concerns about the effectiveness of stress tests on European banks prompted investors to trim long positions in the single currency.
South West Africa's Namibia is looking forward to get positive results from various mineral explorations in its soil.
The explorations are a bundle of various gold deposits in and around Otavi, and are referred to as Otjikoto Project. A gold rush has ensued on the fringes of the Oshikoto and Otjozondjupa regions, with Canadian investors in the lead.
World stocks briefly hit a two-week peak on Monday as expectations rose that U.S. corporate earnings this week would point to a sustainable economic recovery in the world's biggest economy.
A unit of British group Lloyd's plans to sell A$598 million ($524 million) of debt backed by auto-loans, a joint lead manager said on Monday.
Asia has emerged as a global economic powerhouse but is faced with policy challenges from rising capital inflows and needs to watch out for possible shocks from Europe, the IMF's chief said on Monday.
U.S. crude oil futures hovered at around $76 a barrel on Monday as China's bigger-than-expected trade surplus in June eased worries about a slowdown for the global economic recovery and oil demand.
The yen eased on Monday after election results showed political uncertainty lay ahead for Japan, but the move was likely to be short-lived with attention turning the U.S. earnings season as a gauge of risk appetite.
Gold prices failed to move upwards in Asian trade Monday after equity markets rose in the region, attracted some investors amid positive reports on global economic recovery.
Gold prices may trade between $1,180 and $1,220 this week. The impulse to see if gold can be pushed below $1,180 was met with fresh long demand last week, leading the shorts to back off and reverse their positions on a short-term basis.
Asian stocks rose on Monday as investors counted on the start of the U.S. earnings season this week to show firms were reaping strong profits and that the world's economic recovery was not losing steam.
Vietnam, where gold price is much higher than rest of the world, is taking all initiatives to ensure good supply of the precious yellow metal. Last week, the Vietnamese government allowed businesses to re-start importing gold. The country had banned gold import some months back.
Banco Santander , Spain's biggest bank, is on the prowl for more acquisitions in Colombia and Peru as it presses ahead with its expansion across Latin America, the Financial Times reported on Monday.
The Aussie dollar traded within a 50 point range between 0.8725 and 0.8775 for the majority of Friday's offshore session and opens this morning towards the top end at 0.8770.
The U.S. Federal Reserve's list of worries may be getting longer.
The U.S. stock market landed at a technical crossroads following its best week in a year, yet the potential for positive earnings surprises beginning this week could give an edge to the bulls.
Europe's banking stress test included a haircut on German sovereign debt under certain conditions in its worst scenario, a German magazine reported.
Some business groups, upset about budget and regulatory policies they say are costing jobs, are accusing President Barack Obama of pursuing an agenda that is hurting the U.S. economic recovery.
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.
China's Ministry of Industry and Information Technology said it had renewed the Chinese operating license of Internet giant Google Inc, confirming an announcement made by the company on Friday.
Maine Senator Olympia Snowe said on Saturday she has not decided which way to vote on crucial financial reform legislation, with the most important thing being to get it right.
Bank of America Corp is beefing up its internal accounting controls after it incorrectly classified as much as $10.7 billion in short-term lending and repurchase deals for mortgage securities as sales, according to a letter filed on Friday with U.S. securities regulators.
Crude oil futures finished the week on a positive note, tracking stocks upward after hitting the low for a month earlier in the week. The benchmark West Texas intermediate contract settled Friday at $76.09 a barrel, up 65 cents on the day. On Tuesday, the contract declined for the sixth session in a row, closing at $71.98, its first dip below $72 in a month.
