 | Gold down 6% in May on
euro crisis, US growth fears
GOLD rose above $1,565 an
ounce on Thursday as soft US
first-quarter growth and weekly
jobless claims data pressured the
dollar, but this month´s sharp
drop in the euro kept the metal
on track for its worst May performance
in 30 years.
Concerns over.
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| | India´s growth slumps to near-decade low of 5.3% |  INDIA´S economy grew at a
near-decade low of 5.3 percent
in the January-March quarter,
data showed on Thursday, as
high interest rates and the global
downturn hit the emerging
market giant.
The unexpectedly grim figure
undershot analysts´ 6.1 percent
growth forecasts and coincided
with neighbouring China´s series
of bleak data that have dashed
hopes non-Western economies
could help revive the global
economy.
HSBC chief India economist
Leif Eskesen compared India´s
weak performance, which pushed
the country´s currency to a record
low of 56.50 rupees to the dollar,
to that of a "gasping elephant".
"The slowdown in growth has
proven deeper than expected. | | | Auction of Iraq energy exploration
block concludes, only 3 of 12 sold |  IRAQ on Thursday closed a
landmark auction of energy
exploration blocks with just
three contracts awarded out
of a potential 12, dampening
hopes the sale would cement
its role as a key global
supplier.
The two-day sale, the first
to invite international oil
companies to explore Iraqi
territory for energy deposits
since the 2003 US-led invasion,
concluded with eight
blocks receiving no bids
whatsoever, including two
that were offered to foreign
firms twice.
The bid round, the fourth
public auction of Iraqi energy
contracts since mid-2009,
came amid progress in ramping
up oil exports, which
account for the vast majority
of government income, and
as Baghdad eyes higher ... | | | US jobs data point to loss
of momentum in recovery |
 THE US economy grew more
slowly than thought in the
first quarter and lackluster
jobs numbers suggested a
sluggish second quarter that
will do little to help the troubled
labour market.
A series of indicators
Thursday cast a cloud over
the economy´s recovery just
five months ahead of the
November presidential election
in a race dominated by
high unemployment concerns.
President Barack Obama is
arguing that his Democratic
administration has kept the
economy out of depression
after the Wall Street financial
meltdown. His Republican
foe Mitt Romney insists his
business-friendly, less-regulation
approach will rev up
growth and the jobs machine ... | |
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