DUBAI (Reuters) - OPEC members saw no need on Sunday to pump more oil in response to last week's double-digit surge in oil prices to over $139 a barrel that top exporter Saudi Arabia described as unjustified.
Petrol pump owners in Himachal Pradesh are up in arms against the state government for refusing to slash sales tax on diesel even after the neighbouring states Punjab and Haryana did so to ease the burden of consumers. Source: IndiaeNews.com: Business News | 8 Jun 2008 | 2:30 pm
TEHRAN (Reuters) - World crude prices are expected to reach $150 per barrel by the end of summer, Iran's representative to the Organisation of the Petroleum Exporting Countries (OPEC) was quoted as saying on Sunday.
Modi group, the promoter of telco Spice Communications that was mulling a stake sale from a long time, is likely to ink a deal with AV Birla group company Idea Cellular Source: Daily News & Analysis: Money News | 8 Jun 2008 | 1:47 pm
DUBAI (Reuters) - Abu Dhabi gold sale volumes were steady in May but demand from expatriates buying summer gifts was expected to boost sales in the coming months, the emirate's Gold and Jewellery Group chairman said on Sunday.
On the heels of the hike in prices of diesel and petrol across the country, cab unions in Himachal Pradesh Sunday announced an increase in fare by 10 percent. Source: IndiaeNews.com: Business News | 8 Jun 2008 | 12:30 pm
Eleven nations that guzzle nearly two-thirds of the world`s energy met on Sunday to discuss record oil prices as host Japan aired fears that the world may plunge into recession. Energy ministers from the Group of Eight (G8) industrial powers held a one-hour meeting in the northern Japanese city of Aomori followed by wider talks with China, India and South Korea. Source: Zee News : Business | 8 Jun 2008 | 11:49 am
Energy chiefs from the world`s industrial powers huddled for talks on soaring oil prices Sunday amid deep doubts that their actions can quell markets or stave off damage to their economies anytime soon. Ministers from the Group of Eight nations met in northern Japan in the morning to discuss energy security. Source: Zee News : Business | 8 Jun 2008 | 11:49 am
Flag carrier Air India was asked by Civil Aviation Minister Praful Patel to either perform or perish due to competition from a new crop of international airlines that excel in service. Source: Zee News : Business | 8 Jun 2008 | 11:49 am
Australia`s Prime Minister urged G8 nations on Sunday to "apply the blow-torch" to the Organisation of Petroleum Exporting Countries (OPEC) and force the world`s top crude-oil producers to increase production. Source: Zee News : Business | 8 Jun 2008 | 11:49 am
Agriculture and Food Minister Sharad Pawar has said the restrictions imposed on export of major foodgrain are not permanent and the government could lift the ban once the supply situation improves. Source: Zee News : Business | 8 Jun 2008 | 11:49 am
At a time when global slowdown and increasing inflation are casting a shadow on the growth prospects of the country, India Inc`s increasing competitiveness and efficiency will come to the aid and enable 8.6 percent economic expansion in the current fiscal, industry chamber CII said. Source: Zee News : Business | 8 Jun 2008 | 11:49 am
Unperturbed by Hewlett-Packard's acquisition of outsourcing company EDS, Software giant IBM said the development is not likely to "challenge" its leadership position in IT services. Source: Daily News & Analysis: Money News | 8 Jun 2008 | 11:08 am
Jharkhand Chief Minister Madhu Koda has issued an advisory to ministers to use the helicopter once a month to save fuel. Source: IndiaeNews.com: Business News | 8 Jun 2008 | 10:01 am
AOMORI, Japan (Reuters) - Group of Eight energy ministers looked inward for solutions to record oil prices on Sunday, touting the need for domestic efficiency rather than piling pressure on a resistant OPEC to pump more crude.
KUALA LUMPUR (Reuters) - India's top oil explorer, Oil and Natural Gas Corp (ONGC), expects to pay nearly $9 billion to fund subsidies for cheap fuel this fiscal year, up 70 percent, despite recent price hikes, its chief said on Sunday.
With over 1,000 personal computers (PCs) sold in the country in the January-March period, the overall PC market in India grew by over 10 per cent during the said period, a study said. Source: Daily News & Analysis: Money News | 8 Jun 2008 | 9:25 am
DHAKA (Reuters) - Bangladesh's fiscal year 2008-09 (July-June) budget will propose revenue income and spending worth about a trillion taka ($14.6 billion), a top finance official said on Sunday.
One tour of Pune's Big Animation studio makes you realise that the Indian animation industry has come of age. And the man behind this set-up is Ashish Kulkarni, a pioneer in the field. Source: IndiaeNews.com: Business News | 8 Jun 2008 | 8:02 am
West Bengal-based infrastructure finance company SREI plans to increase the corpus of its project financing business to around Rs.50 billion in the current fiscal. Source: IndiaeNews.com: Business News | 8 Jun 2008 | 8:01 am
The next version of the Windows operating system will likely arrive in early 2010, officials at Microsoft has said. Source: Daily News & Analysis: Money News | 8 Jun 2008 | 7:54 am
Even as gizmo lovers await the official launch of Apple's new iPhone towards the end of the year, the market in India is abuzz that the company would debut the iPhone 3G model. Source: Daily News & Analysis: Money News | 8 Jun 2008 | 7:52 am
SEOUL (Reuters) - South Korea said on Sunday it will hand out $10.2 billion to its lowest-income citizens over the next year to offset the skyrocketing price of oil, emulating Asian neighbours in targeting subsidies at the poor.
Adidas is going for a major expansion across India in 2008, which will involve setting up of around 160 new stores and setting footprints in 140 cities. Source: Daily News & Analysis: Money News | 8 Jun 2008 | 7:40 am
India's biggest carmaker Maruti Suzuki has emerged as the fourth most reputed among auto companies in the world, even ahead of its parent Suzuki Motor Co of Japan. Source: Daily News & Analysis: Money News | 8 Jun 2008 | 7:36 am
Vista Processed Foods Pvt Ltd, a major supplier to McDonald's India, is considering to increase the prices of its chicken products by five per cent on account of rising commodity prices. Source: Daily News & Analysis: Money News | 8 Jun 2008 | 7:34 am
The question whether a cellphone operator company must pay fees to the municipal authorities for erecting network towers atop buildings has yet again come to the fore. Source: Daily News & Analysis: Money News | 8 Jun 2008 | 7:27 am
ST PETERSBURG, Russia (Reuters) - The Western financial crisis means the fast-growing economies of Brazil, Russia, India and China will grow their share of the world economy even faster than originally forecast, the founder of the four-nation BRIC concept told Reuters.
Even as gizmo lovers await the official launch of Apple's new iPhone towards the end of the year, the market in India is abuzz - as in the US - that the company would debut the iPhone ver.2 or the 3G model as early as Monday. Source: IndiaeNews.com: Business News | 8 Jun 2008 | 6:32 am
TEHRAN (Reuters) - Drivers of luxury cars in Iran will no longer be able to buy heavily subsidised gasoline from June 21, official Iranian media reported on Sunday.
The Foreign Investment Promotion Board (FIPB), the nodal body for approving foreign direct investment in the country, has given its nod to a proposal from Germany-based Deutsche Bank to buy a 5 per cent stake in the Delhi Stock Exchange (DSE). Source: Business Standard | Front Page Headlines | 8 Jun 2008 | 12:02 am
The Government announced a sharp increase in the prices of petrol, diesel and domestic liquefied petroleum gas. The price of petrol was increased by 5 rupees a litre, diesel by 3 rupees a litre and domestic LPG by 50 rupees a cylinder. ... Source: Business Line - Home Page | 8 Jun 2008 | 12:00 am
New Delhi, June 7 The Indian crude basket, which closed marginally down at $119.81 a barrel on Thursday, is estimated to scale new heights in tandem with the surge in international crude prices on Friday.India’s crude oil basket ... Source: Business Line - Home Page | 8 Jun 2008 | 12:00 am
Bangalore, June 7 The residential mid-market segments across markets in the South are expected to see a correction in the coming months. If estimates are to be believed, about 1.5 lakh residential units, across budget segments, will be ... Source: Business Line - Home Page | 8 Jun 2008 | 12:00 am
It is business as usual for Sahara India Financial Corporation, which has managed to get a quick reprieve from the Allahabad High Court against the Reserve Bank of India's directive banning it from accepting public deposits. Source: Business Standard | Front Page Headlines | 7 Jun 2008 | 11:04 pm
US stocks fell, pushing the Dow Jones Industrial Average to the lowest level since March, as surging unemployment and record oil intensified concern that the economy is sliding into a recession. Source: Business Standard | Front Page Headlines | 7 Jun 2008 | 11:03 pm
The Bemina bridge, Kashmir's longest, was inaugurated here Saturday by Jammu and Kashmir Chief Minister Ghulam Nabi Azad 18 years after the project was launched. Source: IndiaeNews.com: Business News | 7 Jun 2008 | 6:30 pm
The biggest farm loan waiver in India's history to win over the rural masses may not have struck a chord with farmers in Punjab and Haryana. Source: Business Standard | Front Page Headlines | 7 Jun 2008 | 6:27 pm
Real estate developers can no longer bear the brunt of rising input costs. They now plan to pass the burden on to their customers. So, realty prices in Bangalore will soon cost more. Source: Moneycontrol Top Headlines | 7 Jun 2008 | 5:02 pm
The Uttar Pradesh government has withdrawn a letter to the Reserve Bank of India (RBI), seeking to know how the central bank would protect the interests of depositors of the Lucknow-based Sahara India Financial Corporation (SIFC). Source: IndiaeNews.com: Business News | 7 Jun 2008 | 3:00 pm
