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Popular Articles

CBI preparing Letters Rogatory in Satyam case
The Central Bureau of Investigation (CBI), probing the Satyam Computer Services fraud case, is currently in the process of preparing Letters Rogatory, which would be vetted by the Ministry of External Affairs before being presented in the court.

BSNL's Rs 35k cr expansion hits rough patch
A big controversy on procurement of Rs 35,000 crore worth equipment by telecom behemoth BSNL is brewing with position taken by the two government nominees on the Board, threatening mega expansion programme of the PSU.

News of the day

Nalco shelves South Africa project; puts Iran project on hold
In a twin decision on its global operations involving about Rs 27,000-crore investment, the state-owned aluminium major Nalco has shelved its proposed project in South Africa, and has put on hold the one in Iran.
Small Business

Oil dips but stays above $74 in Asian trade

Oil prices dipped but stayed above $74 in Asian trade today as demand uncertainty weighed on investors already wary from recent economic policies in the United States and China. - Oil falls amid reported rise in US inventories - Rising inflation a concern: Pranab - Rising inflation may impede pace of recovery: OECD New York"s main futures contract, light sweet crude for delivery in March, fell 18 cents to $74.53 a barrel. In intraday trade Tuesday, the contract fell to $73.82, its lowest level since December 22. Brent North Sea crude for March shed 22 cents to $73.07. The market remained weighed down by weakening demand after the American Petroleum Institute (API) reported on Tuesday a draw of 2.2 million barrels of its crude stocks. Analysts said investors expect a clearer picture on oil demand to emerge when the US Department of Energy (DoE) releases its weekly report on energy inventories late today. "The API number came out and it was a surprising draw. I think people are waiting and will be looking at the DoE numbers," said Clarence Chu, an oil trader with Hudson Capital Energy in Singapore. Oil demand in the United States is closely monitored by the market because it is the world"s leading consumer of energy. There are also concerns that energy demand in China will take a hit after the government took measures to slow down its rapid economic growth amid fears of rising inflation. China is the world"s second biggest energy consumer.


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