Gold’s biggest slump in three decades has been a boon for MKS (Switzerland) SA’s PAMP refinery near the Italian border in Castel San Pietro, whose bullion sales to China surged to a record as demand rose for coins, bars and jewelry.
India, the largest cooking oil consumer after China, will probably increase taxes on imports to shield oilseed farmers from cheap palm supplies from Indonesia and Malaysia, according to a trade group. Futures declined.
Palm oil dropped for the first time in three days as India ended a freeze on the taxable value of cooking oil imports and said it will revise it fortnightly on the basis of world prices, a move that will push up duties.
Thailand will propose cutting import taxes on bottled water and food such as eggs, milk formula and pork after flooding led to shortages, said Vachari Vimooktayon, director-general of the Internal Trade Department.
As the sound of traditional drums, trumpets and cymbals ushers Amrita Mannil into the wedding hall, she’s adorned by four finely crafted necklaces, rings, 16 bangles, a glistening belt, dangling chandelier earrings and a stone-encrusted head piece to match the silk borders of her dress. She’s wearing about 800 grams (1.8 pounds) of gold.