Kunal Shah News
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India’s Kingfisher Airlines Ltd. escaped collapse in 2010 by restructuring 77.2 billion rupees ($1.4 billion) of debt it had run up buying airlines and adding routes amid the nation’s economic boom.
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Gold imports by India, the biggest consumer, may climb this year as record prices fail to deter buyers and investors seek a hedge against inflation, according to broker Nirmal Bang Commodities Pvt.
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Record imports of gold by India show the central bank may be losing the battle to tame inflation , spurring investors to sell government bonds.
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Metals demand in India, Asia’s second-fastest growing major economy, may double in five years and remain robust for a decade, fueled by rising car sales and higher spending on infrastructure projects, analysts said.
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Gold rebounded, paring a weekly loss, as expectations of further stimulus in the U.S. stoked demand for safer assets.
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China and India will lead mergers and acquisitions in metals and mining in 2011 after global deals rose 89 percent last year as rivalry for commodities among the fastest growing economies spurs prices, Ernst & Young LLP said.
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Gold, headed for a 10th annual gain, may reach at least $1,300 an ounce this year as investors seek a shield against financial turmoil, weak currencies and inflation, according to GFMS Ltd .
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Gold climbed to the highest level in a week in thin holiday trading on reports that Iran produced its first nuclear fuel rod, spurring investors to buy the precious metal as a haven.
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Gold jewelers in India, the world’s biggest bullion buyer, will extend the first nationwide strike in seven years for two more days to demand withdrawal of some levies, a trade group said.
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Investors in India are withdrawing from government bonds and national-savings schemes to pour record amounts into gold.
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