OPEC crude price slides below $80
BUS22Business/EnergyOPEC crude price slides below $80Vienna, Oct 13 DPA The price for crude oil produced by the Organisation of the Petroleum Exporting Countries OPEC dropped by $5.57 to reach $72.67 last Friday, as financial markets plunged across the globe, OPEC said Monday. One barrel 159 litres of OPEC crude stood at $72.67 Friday, down from $78.24 on the previous day. OPEC calculates an average basket price based on 13 important brands produced by cartel members.--DPAsnb/dkg84 Words13101621  read more
Posted by IANS on Tuesday Oct 14
Markets end green, key index up 7.7 percent Fourth lead
BUS24Business/BusinessMarkets end green, key index up 7.7 percent Fourth leadMumbai, Oct 13 IANS After suffering a loss of 16 percent last week, Indian equities markets rallied smartly Monday and by close of trading a key index recovered nearly 40 percent of last week's losses.Markets recovered on strong global cues and yet another attempt by the Finance Minister P. Chidambaram to talk them up just before they opened Monday morning. Unlike last week, this time the move worked and equities wiped out 40 percent of the losses suffered last week  read more
Posted by IANS on Tuesday Oct 14
Bank turmoil windfall for fraudsters
INT24International/Security/Business/CrimeBank turmoil windfall for fraudstersLondon, Oct 13 IANS The ongoing market carnage has given rise to a huge phishing boom, security experts say.A British banking group has said that phishing attacks are up more than 180 percent in the wake of the ongoing financial crisis.Phishing is a practice of deceiving a person, usually through an e-mail, into surrendering private information such as password, credit card and bank account numbers with the object of fraudulently using them  read more
Posted by IANS on Tuesday Oct 14
Market crisis hits poor as well
ECO1Economy/InternationalMarket crisis hits poor as wellBy Chris CermakWashington, Oct 11 DPA As the world's richest nations debate how to bring a catastrophic financial crisis under control, international groups are warning that its reach now goes far beyond the developed world.Poor countries in Africa, Asia and Latin America, which are already dealing with a surge in food and energy prices, are now finding it harder to sell goods abroad and encourage investment in their own economies.Rich nations are falling well behind on their aid pledges as they face problems at home  read more
Posted by IANS on Sunday Oct 12
Music band has confidence only in singer Barlow
ENT7Entertainment/ShowbizMusic band has confidence only in singer BarlowLondon, Oct 11 IANS Music group Take That has admitted that they would be confident about releasing their album only if their songs had Gary Barlow doing the lead vocals.According to ananova.com, their band mate Mark Owen did have success with the single “Shine”, but they are still hesitant to go without Barlow. Band member Jason Orange said: “We have to go with a Gary lead track for the first single as it's too risky for us not to  read more
Posted by IANS on Sunday Oct 12
Equities markets suffer worst mauling in recent times Weekly
BUS3Business/BusinessEquities markets suffer worst mauling in recent times Weekly RoundupMumbai, Oct 11 IANS With foreign institutional investors resorting to large scale selling, Indian equities markets suffered their worst ever mauling in recent times and a key index fell 16 percent during the week.The 30-share benchmark sensitive index of the Bombay Stock Exchange BSE, the Sensex, finished Friday at 10,527.85 points, down 1,998.47 points or 15.95 percent from its close previous Friday at 12,526  read more
Posted by IANS on Sunday Oct 12
New sharia-compliant investment house to target India, China
INT37International/BusinessNew sharia-compliant investment house to target India, ChinaDubai, Oct 11 IANS A new Islamic finance or sharia-compliant investment company targeting the markets of India, China and the Middle East and North Africa MENA region has been launched in the United Arab Emirates UAE.Amara Holdings, launched by Newhaven Investment House, will focus on pre-IPO, private equity and private placement opportunities.The company has already put in place key strategic partnerships with Indian, Chinese and MENA partners, according to an Amara statement  read more
Posted by IANS on Sunday Oct 12
Idol immersion in Ganga worries environmentalists
NAT47National/Environment/ReligionIdol immersion in Ganga worries environmentalistsPatna, Oct 11 IANS The annual ritual of immersing in the Ganga idols of goddess Durga and other Hindu deities has alarmed environmentalists, who point out that the practice will not only threaten the survival of the endangered river dolphin and other aquatic creatures but also increases pollution in the already polluted river."The government has again failed to stop immersion in the Ganga here as no alternative facility was created for it," said Guddu Baba, who leads a movement to clean the Ganga  read more
Posted by IANS on Sunday Oct 12
Sri Lanka president urges LTTE to lay down weapons, surrende
INT46International/Terrorism/DefenceSri Lanka president urges LTTE to lay down weapons, surrenderColombo, Oct 11 IANS Sri Lanka's President Mahinda Rajapaksa Saturday reiterated his government's commitment to "eradicate terrorism" in the island nation and urged the Liberation Tigers of Tamil Eelam LTTE to surrender with their weapons and enter the democratic mainstream to achieve lasting peace.Rajapaksa made these remarks at an All-Party Conference APC he summoned after several  read more
Posted by IANS on Sunday Oct 12
India's foreign exchange reserves drop nearly $8 billion
BUS5Business/Business/EconomyIndia's foreign exchange reserves drop nearly $8 billionMumbai, Oct 11 IANS India's foreign exchange reserves have dropped $7.87 billion during the week ended Oct 3, on account of market interventions by the central bank to stabilise the rupee and heavy selling by foreign funds. The reserves, which include foreign currency assets, and gold, stood at $283.94 billion as on that date, as per the latest data with the Reserve Bank of India RBI.The fresh data comes  read more
Posted by IANS on Sunday Oct 12
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