Vebtoday Flash News for Domestic and International

Crude import bill doubles during Apr-Aug

India’s crude oil import bill has almost doubled to Rs 1,97,620 crore during the first five months of current fiscal on back of record international oil prices. India imported 54.6 million tonnes of crude oil in April-August for Rs 1,97,620 crore against 51.9 million tones of crude imported for Rs 1,01,509 crore in the same period [...]

Fuel price cut possible if oil hits $61/bbl

India’s crude oil import price has dropped to the year’s lowest but a cut in petrol and diesel price may happen only if crude falls to $61 per barrel as rupee depreciation has partly offset the gains. Oil firms were supposed to break-even on sale of petrol, diesel, LPG and kerosene if the price of the [...]

US to pump $250 bn directly into banks

President Bush on Tuesday announced a $250 billion plan by the government to directly buy shares in the nation’s leading banks, saying the drastic steps were “not intended to take over the free market but to preserve it.” Nine major banks will participate initially including all of the country’s largest institutions. Some of the big banks [...]

Right time for NRIs to invest in India: Federal Bank

Overseas Indians should take advantage of favourable exchange rates arising out of the current global financial crisis and invest in India says M Venugopal, CEO and managing director of India’s Federal Bank I will ask NRIs (non-resident Indians) to take advantage of the current situation of high exchange rates and interest rates,” Venugopalan said in Qatar. Venugopalan, [...]

Bank deposits safe, no cause for anxiety: RBI

Assuring depositors that their money was safe in banks, Reserve Bank of India Governor D Subbarao on Saturday said the central bank was geared to inject more liquidity into the country’s financial system and that there was no cause for anxiety. “Our banking system is stable and sound. There is no reason for any anxiety or uncertainty,” [...]

Gold to hit Rs 15K mark before Diwali

With meltdown in stock markets driving investors towards bullion, gold prices are likely to touch Rs 15,000 per 10 gram by Diwali, say analysts. Gold prices on Friday reached an all-time high of Rs 14,200 per 10 gram in the Delhi bullion and analysts said the trend is likely to continue in the coming days. “We [...]

Ganguly to retire after Australia Tests

Sourav Ganguly on Tuesday made a surprise announcement of his retirement from Test cricket after the end of four-match series against Australia beginning Thursday, bringing to an end a 16-year career that had of late shown a slump. “Before I leave, I have to make an announcement. This is going to be my last series. I [...]

India announces $20 mn aid for Palestine

Affirming India’s consistent commitment to the Palestinian cause, Prime Minister Manmohan Singh on Tuesday announced an assistance of 20 million US dollars to the Palestinian Authority and promised to do all New Delhi can to help it in all its endeavours. Singh, who held wide-ranging talks with visiting Palestinian National Authority (PNA) President Mahmoud Abbas in [...]

Rehearsal of the 2008 Beijing Olympic Games Ceremony

“We Are Ready” 2008 Beijing Olympics