Apr 23: Vodafone buys CWW
Apr 23: Vodafone buys CWW
Customers check gold rings inside a gold jewellery showroom in Kochi
Gold prices in India, the world's biggest buyer of bullion, hovered near a two-month high on Monday, keeping traders on the sidelines despite the key gold buying festival of Akshaya Tritiya on Tuesday, dealers said.
The most-active gold for June delivery on the Multi Commodity Exchange (MCX) edged 0.17% lower to Rs 28,652 per 10 grams, but stayed close to a level last seen late February, due to a weaker rupee.
"Sales are nil... there are no customers at shops. Otherwise sales for Akshaya Tritiya used to start two days in advance," said Harshad Ajmera, proprietor of JJ Gold House, a wholesaler in Kolkata.
* India celebrates Akshaya Tritiya on Tuesday, the second most auspicious gold buying day after Dhanteras. The wedding season is also at its peak.
People use computers at an internet cafe in Hefei, Anhui province
China's hot Internet sector is facing a problem it is unaccustomed to: a lack of money.
The world's largest Internet market, with nearly half a billion users, gave birth to some of the world's most vibrant Internet firms, such as Baidu Inc and Tencent Holdings. Venture capitalists bankrolled them, making knockout returns after the firms' successful US listings in the mid to latter half of the previous decade.
But a slew of accounting scandals and fears that the corporate structures used by China's Internet firms could face greater scrutiny from Chinese authorities have spooked US investors in the past year, dulling their appetite for initial public offerings.
With IPO exits blocked, venture capital funds have dried up.
A man deposits his money in a bank in Amritsar
State Bank of India, the country's biggest lender, may not cut lending rates in the near term as costs of deposits continue to be high, Chairman Pratip Chaudhuri said on Monday, after the bank lowered its deposit rates.
Scores of private and state-owned banks, saddled with high-cost long-term deposits, narrow profit margins and the threat from a rising volume of bad debts, are hard-pressed to follow the Reserve Bank of India with a cut in lending rates.
Banks had not passed on the benefit of a reduction in their reserve requirements as tight cash conditions were keeping deposit rates high.
Fuel pumps are seen at a BP petrol station in Dartford in southern England
Oil fell below $118 a barrel on Monday, pressured by lingering concern over the euro zone debt crisis although supply worries from tightening Western sanctions on Iran checked the slide.
"On the supply side, Iran continues to be a risk which we can't ignore at all," said Ric Spooner, chief market analyst at Australia-based CMC Markets.
"It seems quite unlikely that we will be seeing any swift resolution to the standoff between the West and Tehran over their nuclear programme."
Brent crude dropped $1 to $117.76 a barrel by 0935 GMT, while US crude was down 86 cents at $103.02.
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