New Delhi: The party time seems suddenly over. Not only did food minister Sharad Pawar rule out implementing sugar sector decontrol anytime soon, but persistently nosediving prices over the last month have sharpened apprehensions within the sugar industry over Saturday's meeting oft the expert panel on ethanol headed by Plan panel member Dr Saumtira Chaudhury. The panel is authorised to come up with a long term formula for fixing the price of ethanol and to periodically review the formula but indications are that the price for ethanol will be lower than the interim price of Rs 27/litre fixed by the government. Current indications from officials are that ethanol price could be lower by upto Rs 2/litre comapred to the interim price. Panel head Dr Chaudhury is expected to circulate the final draft of his report to the stakeholders, including OMCs, the sugar, alcohol and chemcial industries, farmers groups and represent...
John A. Paulson made $4 billion betting against newfangled mortgage investments. But he made even more betting on an old-fashioned investment: gold. Paulson, a hedge fund manager who sprang to fame when the housing market collapsed, personally made about $5 billion in 2010, according to two investors in his company. How? Paulson bought gold lots of it. His firm, Paulson & Co., owns securities that represent the rough equivalent of 96 metric tons of the metal. It is an outsize wager by almost any standard. Paulsons firm does not actually own all that gold. But if it did, it would be sitting atop more gold than the Australian government. Paulson himself would be holding more gold than Bulgaria. Paulson is known for betting big. His payday for last year exceeds the $4 billion he made for 2007. He be...
MUMBAI: The price-conscious Indian consumer did not shy away from splurging on gold jewellery despite a 24% increase in the metals price in 2010 from a year ago, tipping the country to exhibit the strongest consumption recovery from the low levels of 2009, an industry body has said. At the country level, India, the largest gold market, is poised to exhibit the strongest recovery during 2010, said the World Gold Council in its Gold Investment Demand digest for 2010. During the first nine months of 2010, gold jewellery consumption in India rose to 513.5 tonne, 73% higher than the same period during 2009, as consumers benefited from continued economic growth and periods of rupee appreciation against the US dollar. The price of gold at the end of December was around Rs 1,960 a gm, up 23.9% from a year ago, while annualised volatility based on daily returns was 15.5%. The average ...
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