World crude steel production for the 66 countries reporting to the World Steel Association (worldsteel) was 122 million metric tons (mmt) in April. This is 35.7% higher than April 2009.China's crude steel production for April 2010 was 55.4 mmt, an increase of 27% compared to April 2009. It is the highest amount of crude steel China has ever produced in a single month.
Amid widespread speculation over future gold prices, experts in the industry are of the opinion that the gold price bubble will soon scale down to significantly lower levels in the short to medium term. Giving the gold price outlook for the short to medium term, Rajesh Mehta, Chairman of India's largest gold jewellery maker and exporter, Rajesh Exports Ltd (BOM:531500) maintained that the bull-run in the bullion metal will come to a halt and prices will soothe somewhat in near term.
A senior euro zone official said on Thursday financial markets were acting irrationally over the euro area's debt problems and while he was concerned about the fall in the euro, immediate action was not needed.
A senior euro zone official said on Thursday financial markets were acting irrationally over the euro area's debt problems and while he was concerned about the fall in the euro, immediate action was not needed.
A senior euro zone official said on Thursday financial markets were acting irrationally over the euro area's debt problems and while he was concerned about the fall in the euro, immediate action was not needed.
The euro remained vulnerable in volatile trade on Thursday as uncertainty over unity in the euro zone weighed on the single currency, with extreme short positioning exacerbating moves.
Japanese online mall operator Rakuten said on Thursday it will acquire Buy.com Inc for $250 million, foraying into the U.S. market for the first time as it steps up its push to expand overseas.
Just a few weeks ago, there was virtually unanimous agreement among investors and economists that China was on the cusp of dropping the yuan's peg to the dollar, while the debate centred on how it might happen.
Stock index futures pointed to a mixed open on Wall Street on Thursday, with futures for the S&P 500 down 0.1 percent, Dow Jones futures up 0.1 percent and Nasdaq 100 futures down 0.4 percent at 0836 GMT (4:36 a.m. ET).
According to World Gold Council (WGC), the Middle East non-resident Indian community demonstrated on May 16 that cultural traditions and heritage remain alive and well. Gold retailers in the GCC saw the best day of sales so far this year on the back of the festival, in which gold plays an important part.
India on Wednesday increased price of natural gas, produced by ONGC and Oil India Ltd, used for industrial purposes at par with the rate of Reliance. The cabinet approved an Oil Ministry proposal to raise the rate of gas sold to power and fertilizer firms from $1.79 per million British thermal unit to $4.20.
Gold prices moved up in Asian trade Thursday as euro recovers but stays below $1200 while silver, platinum and palladium bounced higher. Gold for immediate delivery was seen trading at $1196.45 an ounce at 11.30 a.m Singapore time while June delivery was at $1197.48 an ounce at the same time.
Old is Gold - going verbal on this well-known saying, it would surly fetch gold for you getting older. As gold prices are hovering at historic peak levels giving lucrative opportunity for investors to create wealth for their present, it has proved to be one of the best instruments for securing after-retirement life with gold coin investments.
European stocks rebounded on Thursday as investors sought bargains after the previous day's sharp sell-off but gains were limited by persistent euro zone fears, with the euro remaining under pressure.
Trading systems briefly broke down at hedge fund firm Citadel Investment Group and trading firm Knight Capital Group Inc when the stock markets plunged on May 6, the Wall Street Journal said.
Worries over the euro zone's debt crisis hammered Asian stocks to their lowest in more than eight months and sent the euro down, struggling to stay above the previous day's four-year low as political divisions and fears of more market regulation kept investors on edge.
Bank creditors to Dubai World have accepted an offer from the indebted conglomerate to settle $14.2 billion in outstanding bank claims, according to a report in a UAE newspaper on Thursday.
The euro erased initial gains and edged lower on Thursday to trade above the previous day's four-year lows as political divisions in Europe and fears of more market regulation kept investors on edge and pressured stocks.
The euro erased initial gains and edged lower on Thursday to trade above the previous day's four-year lows as political divisions in Europe and fears of more market regulation kept investors on edge and pressured stocks.
Dubai World , the indebted state-owned conglomerate, has reached a deal in principal to restructure $23.5 billion, with its core bank creditors, the company said in a statement on Thursday.
The head of the Eurogroup said on Thursday financial markets were acting irrationally over the euro area's debt problems and while he was concerned about the fall in the euro, immediate action was not needed.
Japan's economy grew 1.2 percent in the first quarter, the biggest expansion in three quarters, on stimulus-driven consumption and solid exports to Asia, but market turmoil from the European debt crisis clouded the outlook.
Japan's economy grew 1.2 percent in the first quarter, the biggest expansion in three quarters, supported by solid exports to Asia and a stimulus-fueled recovery in consumption.
Mall owner General Growth said on Wednesday it has replaced some of its managers, in a sign that its focus has switched from exiting bankruptcy to beefing up operations.
The AUD has been on a wild ride over the last 24 hours as risk aversion spurred another round of solid selling.
The United States will continue nudging China at top-level talks in Beijing next week to let its yuan currency appreciate but trade issues appeared to be higher on the U.S. agenda ahead of the sessions.
Germany stepped up its fight against speculators with a ban on some financial trades on Wednesday, triggering big market falls and wrong footing European governments that said they were not consulted.
Two lawmakers who co-chair the House Privacy Caucus asked the Federal Trade Commission if Google broke the law in collecting WiFi and other Internet data while taking photographs for its Street View product.
The release of the RBA board minutes suggested just what the market had expected and in fact had already begun pricing in – interest rates are at normal levels.
Stocks fell on Wednesday as Germany's unilateral action to ban specific trades on some stocks and bonds sparked a fresh wave of uncertainty and risk aversion among anxious investors.
