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Gold trades near highest in three weeks
Gold traded near a three-week high in London as the US Federal Reserve said interest rates will remain low, boosting demand for the precious metal as an alternative investment.
Global stocks, assets rally
The economy will continue to recover steadily in the coming years, says Fed
Oil hits 9-month high near $115 on Iraq turmoil
Brent crude hit a nine-month high near $115 a barrel on Thursday on concerns heavy fighting in Iraq could limit oil supply from Opec’s second-biggest producer.
Pakistan to auction local currency sukuk
Pakistan’s central bank will auction a three-year local currency sukuk, or Islamic bond, more than a year after it last issued such an instrument, adding a much needed liquidity management tool for domestic Islamic banks.
Direct trade of yuan, pound from today
China will allow the yuan to be exchanged directly for British pounds from today in Shanghai as the world’s second-largest economy promotes the use of its currency in global trade and finance.
Sensex tanks 275 points on fears costlier oil to hurt economy
In volatile trade, the Sensex washed out major part of previous day’s gains on across-the-board selling and closed down about 275 points on Wednesday as rising crude prices due to worsening Iraq unrest threaten India’s economy, already reeling under price rise and slowing growth.
LSE partners with Chinese banks to promote London renminbi trading
The London Stock Exchange said on Tuesday it had signed agreements with two of China’s biggest banks to develop offshore trading in the Chinese currency Britain.
Iraq’s oil growth targets at risk as violence grows: IEA
Global demand growth may start to slow down by end of decade
UK’s sukuk may miss chance to buoy Islamic banking
Britain’s plan to issue the first Islamic bond from a Western government will strengthen its position as a centre for sukuk trade, but it may miss a chance to develop Europe’s Islamic banking industry.
US beats China’s oil demand growth in 2013
Oil demand in the United States grew at the fastest pace in the world in 2013, outstripping China for the first time since 1999 as the globe’s top economy reaped the benefits of a shale boom, oil company BP said on Monday.
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