August 4 in pictures
August 4 in pictures
A salesman displays gold ornaments at a jewellery showroom in Chandigarh.
India's gold buying retreated on August 4 afternoon after picking up from last week as prices revisited the keenly-watched Rs 18,000 mark, with traders eyeing the movement in the rupee for direction, dealers said.
The most-active October contract on the Multi Commodity Exchange (MCX) extended the previous day's gains to trade 0.69 per cent higher at Rs 18,075, a level last seen on July 27.
The contract had gained 0.5 per cent in the previous session.
The rupee was trading with a weak bias on August 4 tracking lower regional peers, but traders were watching the dollar's moves versus major currencies and the local sharemarket for further direction.
Indian gold demand is set to pick up for the busy festival season, starting with Raksha Bandhan on August 24, and extending till Dhanteras in November, the single-biggest gold buying day.
A man walks past a logo of Reliance Communication before the Annual General Meeting in Mumbai.
Reliance Communications expects to roll out 3G services by the end of 2010, provided government allocates spectrum by September, a company official said on Wednesday.
"It is our expectation that the government will allocate spectrum by September, following which we will start the rollout by year-end," Mahesh Prasad, president of the company's wireless business, told reporters.
The 'Ritz' car stands on a display during its launch in New Delhi.
Maruti Suzuki, India's top car maker, is looking to advance its capacity expansion plans, Managing Director Shinzo Nakanishi said on August 4.
Its second unit in Haryana is scheduled to come up by April 2012. Nakanishi said the company was working on ways to advance that to an earlier date.
A man looks at a residential blocks which is under construction in Taiyuan, Shanxi province.
China's economy will cool further this quarter as fiscal pump-priming starts to fade and the restocking cycle draws to a close, a government think tank said on August 4.
Annual gross domestic product growth will slow to 9.2 per cent from 10.3 per cent in the second quarter and 11.9 per cent in the first, the State Information Centre said in a report published in official media.
The centre has previously forecast full-year growth of 9.5 per cent, which would be close to the average for the past 30 years.
The forecast is in line with private-sector projections. A pair of manufacturing surveys released this week also signalled moderating growth.
China has been steering monetary policy back to normal after an unprecedented surge in credit last year fanned fears by the start of 2010 that the economy could be overheating.
A man walks past a billboard featuring US dollar notes on a street in Hefei, Anhui province, China
Cash-rich Asian businesses are expected to make more cross-border acquisitions in the next 18 months as they aim to expand in high-growth economies abroad, a survey released on August 4 said.
About 83 per cent of respondents forecast more overseas takeovers by firms in Asia, and the Greater China region was singled out by 49 per cent of the companies as the most popular target market, according to the survey by consulting firms Mercer and Kroll.
Apart from China, 29 per cent of the respondents said they are most likely to complete a cross-border transaction in North America, and the ratio was 27 per cent and 22 per cent for Southeast Asia and India, respectively.
Only 1 per cent of the people surveyed said their companies are planning to target a Japanese business in the near future.
Zhejiang Geely, parent of Hong Kong-listed Geely Au
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