Gold prices are expected to reach Rs 22,000 per 10 grams by the end of the year as financial institutions may divert investments to gold from stocks due to market uncertainty. India is likely to raise interest rates for the fifth time in six months to combat inflation which remains high at nearly 10%. A new heliport in Delhi will be operational by mid-September to serve the region and boost travel and tourism. Food inflation accelerated to 11.47% annually while fuel inflation remained at 12.71% according to government data. Mukesh Ambani is forecast to become the richest person in the world in 2014 with a net worth of $62 billion.

1. Weekly News3 Compiled by: Gurnoor Kaur Mba-2(A)

2. Gold prices may touch Rs 22,000/ 10 gms by year end: Assocham Gold prices are likely to touch Rs 22,000 per 10 gms by year end as the cash-rich financial institutions like mutual funds may divert investments to bullion in view of uncertainty in the stock market. Expected increase in inflationary pressures across the world had forced sizeable investors to invest in gold, further making case for jump in its price .

3. Fifth interest rate hike expected as India battles inflation India is expected to hike interest rates this week for a fifth time in six months after a surge in industrial output strengthened the case for another dose of monetary tightening. Although India has been the most aggressive in the Asia-Pacific region in raising rates to check prices, the country's inflation remains among the highest of the leading Group of 20 economic powers, at nearly 10 per cent.

4. Delhi to get its first heliport by mid-September A mega heliport at Rohini in north Delhi and a helipad for the Commonwealth Games (CWG) being built by state-run Pawan Hans Helicopter Limited (PHHL) will be operational by mid-September. After the games, the heliport will be used for chopper travel within the region, promoting travel and tourism, and generating business.

5. Food inflation at 11.47 pct y/y as on Aug 28: Govt Food price index rose 11.47 percent and the fuel price index climbed 12.71 percent in the year to Aug. 28, government data released showed. Food inflation accelerated from the previous week's annual rise of 10.86 percent while fuel inflation remained the same. The primary articles price index was up 15.40 percent, compared with week-ago's reading of 15.19 percent.

6. Mukesh Ambani to be richest man in world in 2014: Forbes With a net worth of USD 62 billion, Indian business tycoon Mukesh Ambani would be he richest man on earth in 2014, according to a forecast issued by the prestigious Forbes magazine. 53-year-old Ambani currently ranks fourth on Forbes' list of the world's billionaires.