Gold imports drop 10.3 per cent to $1.8 billion in September

According to the data of the commerce ministry, gold imports had stood at billion in September last year. (Source: Reuters) Gold imports fell 10.3 per cent to $1.80 billion in September due to sliding prices of the metal in both global and domestic markets. According to the data of the commerce ministry, gold imports had stood at $2 billion in September last year. The imports of the metal have been declining since February this year. Dip in the imports help contain the current account deficit (CAD). The contraction helped narrowing the trade deficit to $8.33 billion in September this year as against $10.16 billion in the same month of 2015. The imports mainly take care of demand of jewellery industry. For the full year, CAD stood at $22.1 billion…

Holiday retail sales projected to rise in Southern Nevada With the election over and the traditional holiday shopping season near, analysts are projecting retail sales will jump 3.6 percent nationally, with Southern Nevada likely to mirror that.The National Retail Federation projects retail sales in November and December, excluding autos, gasoline and restaurants, to grow to $655.8 billion. That’s a bigger jump than last year, when analysts said sales rose 2.5 percent.“All of the projections are very positive and hover around that 3.6 percent growth rate,” said Melina Cordero, head of national retail research for brokerage firm CBRE, during a Wednesday roundtable. “That’s very positive. It shows the consumer fundamentals building up with wage growth and job growth and enabling consumers to spend.”Darin Mellott, director of research and analysis for CBRE’s Southwest region, said that because ...

Australian economy, retail sector to 'remain tough', says David Jones and ... The Australian economy and retail sector will "remain tough in the short term", says the owner of the David Jones department store and clothing brand Country Road. South African retail giant Woolworths Holdings – which paid $2.3 billion for David Jones and Country Road Group in August 2014 – also plans to introduce more "trans-seasonal clothing" to cope with unpredictable weather in the southern hemisphere. More News Videos Previous slide Next slide David Jones launches its summer fashion David Jones summer fashion launch warms up a cold, wet day with models strutting the catwalk showcasing the latest swimwear. Taking into account Country Road Group brands Trenery, Witchery and Mimco, Australia now accounts for 40 per cent of Woolworths' operating profit. Posting weaker growth for David Jones and falling ...

Wells Fargo Asks Court To Dismiss Account Scandal Lawsuit NEW YORK, Nov 24 (Reuters) - Wells Fargo Co has asked a U.S. court to order dozens of customers who are suing the bank over the opening of unauthorized accounts to resolve their disputes in private arbitrations instead of court, according to legal documents. The motion, filed in the U.S. District Court in Utah on Wednesday, is in response to the first class action lawsuit filed against Wells Fargo since it agreed to pay $185 million in penalties and $5 million to customers for opening up to 2 million deposit and credit-card accounts in their names without their permission. The scandal has shaken Wells Fargo, the third-largest U.S. bank by assets. Its former Chief Executive Officer John Stumpf stepped down amid the furor, it has...

Our agribusinesses won us Sh500,000 seed capital YOU WANT MORE FROM CHICKENS? SELL PARTS Dressed in a black trouser and a white shirt emblazoned with the word Kisumu Poultry Farmers Ltd (KPF), Hezron Opiyo weighs chicken meat packed in a plastic tin ready for delivery to a customer. You have to get it right so that the customer does not complain,” says Opiyo. The poultry house on the farm in Kibuye is 12 by 9 feet and hosts 400 month-old broilers. The farmer, however, keeps 70 Kienyeji birds on a separate farm in Ahero. He has also contracted five farmers who keep the birds and supply him. “We buy from the farmers at Sh400 and sell for up to double the price, but sometimes the cost goes down depending on the size and weight,” says...

Top Actelion shareholder says backs J&J deal above 246 Sfr/share A top-30 investor in Swiss pharmaceutical company Actelion (ATLN.S) said he would back a takeover approach for the whole company from U.S. rival Johnson Johnson (JNJ.N) above 246 Swiss francs. Actelion confirmed it was in talks with JJ on Nov. 25, without giving details. Media reports suggested an initial bid of 246 Swiss francs had been rejected, while subsequent reports have suggested a revised bid of around 250 Swiss francs and the potential for rival companies to also table an offer."If JJ is willing to consider a price higher than the one which has been quoted in the press as an initial offer, it could be a fair price for a straightforward acquisition of the business," the investor said. "However, a more complex deal, involving a...

Watchdog won't hold conference on Sky/Vodafone merger The country's competition watchdog says it won't hold a conference before deciding whether Sky Television should be allowed to merge with Vodafone New Zealand. The Commerce Commission has been holding a two-day conference on the proposed merger of media companies Fairfax New Zealand and NZME which wrapped up on Wednesday. But a commission spokesman said there would be no conference on the other major merger application on its plate, between pay-TV company Sky and Vodafone's New Zealand subsidiary. The commission delayed a final ruling on the merger application on Monday, from December 21 until February 23. "There will not be a conference," the spokesman said, noting that it was not standard practice to hold them. READ MORE: * Sky and Vodafone agree to delay merger decision*...

Auckland Airport expecting a busy summer Auckland International Airport has tipped what it expects to be its busiest days this summer and warns passengers it could take longer to get through the terminal. The airport's busiest months for its international terminal are December and January, when about 150 international flights and 30,000 passengers visit it every day. Auckland Airport general manager of aeronautical operations Judy Nicholl said those flight numbers were 10 per cent higher than last summer, and passenger numbers would be up 15 per cent. She recommended passengers allowed an extra 30 minutes for travel through the international terminal over that time. READ MORE:* Auckland International Airport says buses part of every great airport* Auckland Airport staff get $1500 bonus as profit lifts* Auckland Airport begins huge international terminal redevelopment* Emergency at Auckland International Airport...