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Plane manufacturers, airlines, government ministers and military top brass gathered on Sunday for the Farnborough International Airshow amid hopes that the two-year downturn in the aviation and defence industry is nearing a bottom. The arrival of Boeing’s long-awaited and long-delayed 787 jet at Farnborough’s airfield helped generate a buzz for the start of the industry’s [...]
Tiger Woods’ golf course design business is on the rocks, highly respected Forbes.com reported at the week’s end. But, says the financially astute website, it has nothing to do with the scandal that has surfaced around his previously secret extra-marital activities. Three years ago Woods announced plans to design his first US golf course on [...]
The price of gold turned lower Monday after surging to a fresh intraday record, as investors digested China’s decision to allow the yuan to appreciate against the dollar. What prices are doing: Gold for August delivery fell $17.60, or 1.4%, to settle at $1,240.70 an ounce. Earlier, prices climbed to $1,266.50, beating the record intraday [...]
China’s central bank maintained the same base rate for exchanging the renminbi against the US dollar on Monday, after pledging to allow gradual appreciation of the yuan. The People’s Bank of China kept the daily mid-point of the yuan’s narrow trading band at Friday’s rate of 6.8275 to the dollar, it said on its website. [...]
As yellow metal gets expensive, investors will turn to alternative metals, expert says Demand from investors concerned that loose monetary policy would produce inflation and push the price of gold and silver higher, Moonraker Fund Management said, but silver, which had fallen behind gold in recent years, was likely to catch up in view of [...]
The Gulf of Mexico oil spill is having only minimal environmental effects on land, but it may be causing serious problems in the water, some scientists say. Wind, currents and chemicals being sprayed on the oil are combining to keep most of the oil gushing from the sea floor out in the water. Scientists say [...]
The Society of Indian Automobile Manufacturers (SIAM) sees positive signs for the automobile industry to register a double digit growth during the current financial year. According to SIAM, automobile sector in India is showing extremely positive signals of growth when compared to markets in other countries that are showing signs of stagnation and slowdown. “Last [...]