December 10: News Views
December 10: News Views
A customer buys an iPad at an electronic products store in Hefei, Anhui province
Component suppliers for Apple Inc's iPad are gearing up for a new round of production in the first quarter, sources said on Friday, with one saying the product will be a revamp of the popular tablet computer including front and back-mounted cameras.
Apple's iPad has taken the world by storm since its introduction in January, winning over millions of fans and providing a much needed boost for a global technology sector still struggling with patchy demand.
Touchscreen chip designer Wintek Corp, battery maker Simplo Technology Co Ltd and AVY Precision, an unlisted maker of covers for electronic products, are among suppliers for the next batch of iPads, four people familiar with the situation said.
One of those said the revamped model would feature cameras on the front and rear, while the other said the new model would be slimmer, lighter and have a be
A customer looks in a mirror after wearing a gold earring inside a jewellery shop in the southern Indian city of Hyderabad
India's gold buying retreated on Friday afternoon after picking up for two straight sessions, as traders sought better bargains to stock up for the wedding season, dealers said.
'I have booked for less than 10 kgs today. For deals to happen, either rupee must appreciate to 44.90, or gold must fall below $1,380 (an ounce),' said a dealer with a state-run bullion importing bank in Mumbai.
International gold held steady in choppy trade as a dollar rally took a breather, and uncertainty over Europe's fiscal health continued to attract investors to bullion.
International spot gold was trading at $1,391.45/1,392.20 an ounce as against the previous day's close of $1,387.39/1,388.20.
The Reserve Bank of India (RBI) logo is pictured outside its head office in Mumbai
The Reserve Bank of India (RBI) can still raise rates despite an outlook for a pause, a RBI deputy governor said on Friday.
'The governor said that it may not be necessary ... that does not mean if the pause is there you cannot do that (hike rates). If it needs to be done, it can be done, that is his choice,' K C Chakrabarty said when asked if the RBI can still hike rates despite its indication for a pause in the November policy.
The central bank is set to review policy on December 16.
India's Environment Minister Jairam Ramesh gives a speech during a plenary session at the Moon Palace, where climate talks are taking place, in Cancun
India bolstered troubled UN climate talks on Friday by saying it could eventually commit to legally binding emissions reduction targets, a newspaper reported, in a major shift in the government's stance.
India is the world's third-largest greenhouse gas polluter after the United States and China, and rapid economic growth and consumption are driving up production of planet-warming carbon dioxide from coal-fired power plants, transport and industry.
But the government has long insisted it will not accept binding emissions reduction targets in any new climate deal because to do so would harm the economy and stall its aim to lift millions out of poverty.
But Environment Minister Jairam Ramesh, speaking on the sidelines of UN climate talks in the Mexican resort of Cancun, said it
People wait in line to enter a government job centre in Madrid
New US economic data on Thursday offered more signs the recovery was gaining traction, with claims for jobless benefits falling and wholesalers stocking up in anticipation of strong holiday demand.
Initial claims for state unemployment benefits dropped 17,000 to a seasonally adjusted 421,000, the Labor Department said on Thursday, easing doubts about the jobs market after a surprisingly weak report on November employment last Friday.
'It's another report that suggests the monthly employment numbers that we got last week probably understated the position in jobs, and it's another number that suggests we're going to get some upside surprises in economic activity,' said Michael Strauss, chief economist of Commonfund, in Connecticut.
The government said last Friday employers added a mere 39,000 jobs last month, while the jobless rate spiked to 9.8 per cent f
Labourers work inside a steel factory on the outskirts of Agartala, capital of Tripura
India's industrial output in October rose a faster-than-expected 10.8 per cent from a year earlier, higher than the previous month's annual growth of 4.4 per cent, government data showed on Friday.
The median forecast in a Reuters poll was for an annual rise of 8.5 per cent.
Manufacturing output rose an annual 11.3 per cent in October, the federal statistics office said in a statement.
K K Mittal, head of Portfolio Management Services at Globe Capital, New Delhi said, 'The data shows that the fundamentals are still very strong and we are on track for a sharp pick up in economic growth. This has come as a confidence booster for the market and I would expect the markets to remain firm in the near term.'
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