December 6: View your news
December 6: View your news
An employee checks an Euro note at the Bank of Taiwan head office in Taipei
An economic recovery in Europe is not that far off but risks remain and more steps are needed after a Europen Central Bank intervention last week calmed markets, the OECD's chief economist said in an interview published on Monday.
\"Prospects of a recovery of the real economy are not that far off and are consolidating,\" Pier Carlo Padoan, chief economist of the Organisation for Economic Cooperation and Development, told Italian daily Corriere della Sera.
Padoan said a convergence between strong-growth northern Europe and slow southern Europe was not expected at the moment but \"the general tone of the economy in Europe is more favourable than some may think\".
\"Steps forward are still needed. Towards the end of the week markets were calmed by announcements and interventions of the ECB, but this does not solve problems,\" he said.
A shopkeeper displays gold jewellery for the camera at a jewellery shop in Jammu
India gold traded near its record high on Monday afternoon tracking overseas markets, and dealers said traders were reluctant in striking new deals at the all-time high prices.
\"At these record prices, who'll buy,\" said a dealer with a state-run bullion importing bank in Mumbai, adding \"rupee is helping some traders, I booked only 25 kgs from morning at $1,416 (an ounce).\"
The most-active February gold contract hit a near-record high of Rs 20,865, nearing the previous record level of Rs 20,874 struck on November 30.
However, the rupee's rise to a fresh three-week high kept the upside in local gold prices limited, they added.
The Indian rupee extended its rally to a fifth straight session, rising to fresh three-week highs, boosted by gains in most other Asian currencies and a firm start to the domestic sharemarket.
France's President Nicolas Sarkozy shakes hands with Indian Prime Minister Manmohan Singh before their meeting in New Delhi
France's President Nicolas Sarkozy on Monday called for a joint proposal with India to push his reform agenda for the G20 group of nations, including reforms to the global monetary system.
\"France also wants joint proposals with its Indian friends within the framework of the G20 on the regulation of commodity prices ... on also international monetary systems, on the matter of financial mechanisms whereby we can help the poorest countries develop and also on reforming world governance,\" Sarkozy told a joint press conference with Prime Minister Manmohan Singh.
The French president, on a four-day trip to the Asian giant, wants to push an ambitious agenda for the G20 group of developed and emerging nations.
France and India also signed a framework contract for the sale of at least two French atomic reactors b
A tourist poses for a photo in front of the Merlion, a mascot of Singapore, and the financial district skyline in Singapore
Singapore and Shanghai rank top among Asian cities as the best real estate investment destinations, while Osaka and Manila are seen as the least ideal, an industry survey showed on Monday.
Singapore topped the rankings on the country's strong economic growth and brisk activity in the financial and high-tech industries, according to the survey jointly published by the global non-profit Urban Land Institute and PricewaterhouseCoopers.
Shanghai, Mumbai and Hong Kong were the next favourites, according to the study, which is based on the responses of more than 280 property professionals, including investors, developers, property company executives and brokers.
Shanghai dropped to second, from first in the previous annual survey, as the city saw sharp increases in property prices, damping some investor interest. <
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