IBT Staff Reporter

Surprises may be in store this earnings season for U.S. companies tied to BP Plc's oil spill, according to an analysis that emphasizes equity analysts' past accuracy.

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.

Social networking website Facebook has agreed to adopt a panic button aimed at improving the online safety of its younger users, a child protection group said on Monday.

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.

Social networking website Facebook has agreed to adopt an application aimed at improving the online safety of its younger users, a child protection group 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.

Under-pressure BP Plc is in talks with U.S. oil and gas company Apache Corp and other companies over potential asset sales, a source familiar with the situation said on Sunday, as it weighs how to pay costs related to the Gulf of Mexico oil spill.

Japanese shares rose and the yen largely held its ground in early trade on Monday, with investors seemingly indifferent to a major election loss suffered by Japan's government over the weekend.

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.

Saudi Arabia, the world's top crude exporter, will supply full contracted volumes of crude oil in August to at least two Asian term buyers, steady with July levels, industry sources said 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.

Australia's top expert on HIV and AIDS has warned of a rolling holocaust facing the world as the pandemic kills two million people each year and many are denied treatment

The U.S. Federal Reserve's list of worries may be getting longer.

Preparations are underway for Barcelona's famous annual week long Festa Major, held from 15 to 21 August and including the Catholic Feast of the Assumption in the city's Gracia district.

The U.S. National Oceanic and Atmospheric Administration (NOAA) and Food and Drug Administration (FDA) have chemically tested seafood from the oil spill-marred Gulf of Mexico and found them to be free from contaminants.