Oil steadies after 1-year high above $79
Oil prices steadied after hitting a fresh 12-month high above $79 a barrel on Monday, taking a break from seven straight sessions of gains to see if corporate results continue to point to a strong global economic recovery.
U.S. earnings results could again be a key driver of oil prices this week with a spate of earnings from bellwethers including Apple Inc and Caterpillar Inc, after strong results lifted commodities across the board last week.
On Friday weak numbers from General Electric and Bank of America again clouded the economic outlook and may spur profit taking from oil's recent rally.
U.S. crude for November delivery touched a fresh high of $79.05 in early trading, but pared some gains to be up 4 cents at $78.57 a barrel .
London Brent crude crept up 6 cents to $77.05.
Monday, October 19, 2009
Thursday, April 9, 2009
Stocks rise as US data stokes hopes
Global equities rose on Thursday in light trading ahead of the Easter holiday weekend as investors sought further signs of optimism in the
financial crisis that has hit economies from Australia to Ireland. Japan's larger-than-expected $154 billion plan to jump-start its slowing economy underpinned appetite for equities while better-than-expected figures from the US on its trade deficit and new claims from jobless US workers provided a midday boost.
Global equities rose on Thursday in light trading ahead of the Easter holiday weekend as investors sought further signs of optimism in the
financial crisis that has hit economies from Australia to Ireland. Japan's larger-than-expected $154 billion plan to jump-start its slowing economy underpinned appetite for equities while better-than-expected figures from the US on its trade deficit and new claims from jobless US workers provided a midday boost.
Monday, April 6, 2009
Thursday, January 8, 2009
Sathyam Effect
The Bombay Stock Exchange sensitive index (Sensex) suffered most in the new year on Wednesday by losing 749 points on panic selling by funds after Satyam Computer said its profit had been inflated for years and rising concerns of dim third-quarter earnings of blue-chip companies.
The Sensex, which had gained over 688 points in the last four sessions of 2009, tumbled below the crucial 10000- level, losing 749.05 points to close at 9586.88 against 10335.93 on Tuesday. It touched a low of 9510.15 and a high of 10469.72, showing a wide fluctuation of nearly 960 points.
Satyam Computer shares crashed by Rs. 139.15 or 77.69 per cent to close at Rs. 39.95, after the Chairman announced that the company had falsified accounts and assets for several years.
The Sensex recorded the biggest single-day loss in the past two months, after Satyam Computer Services, the country’s fourth-largest software developer, plunged around 80 per cent, the highest since getting listed in 1992.
The Sensex, which had gained over 688 points in the last four sessions of 2009, tumbled below the crucial 10000- level, losing 749.05 points to close at 9586.88 against 10335.93 on Tuesday. It touched a low of 9510.15 and a high of 10469.72, showing a wide fluctuation of nearly 960 points.
Satyam Computer shares crashed by Rs. 139.15 or 77.69 per cent to close at Rs. 39.95, after the Chairman announced that the company had falsified accounts and assets for several years.
The Sensex recorded the biggest single-day loss in the past two months, after Satyam Computer Services, the country’s fourth-largest software developer, plunged around 80 per cent, the highest since getting listed in 1992.
Thursday, December 4, 2008
INTERNATIONAL SEMINAR
Education seminar begins today
Chief minister V.S. Achuthanandan will inaugurate a three-day international seminar on ‘Democratic and Secular Education – Kerala Experience’ being organised by the State government on the Kariavattom campus of the University of Kerala on Thursday.
As many as 2,000 delegates are participating in the seminar in which 150 scholars, including 25 from abroad, will present papers in various thematic sessions. Social activist Swami Agnivesh will deliver a special address at the inaugural session which will be held at a specially erected ‘pandal’ in front of the Academic Staff College, Kariavattom.
After the inaugural ceremony — in which Leader of the Opposition Oommen Chandy and Education Minister M.A. Baby, among others will participate — there will be a thematic session on ‘State and Education.’
Following this there will be 17 parallel sessions at the seminar on various topics, including public-private partnership in education, education, culture and textbooks, democracy, decentralised planning and education, education and empowerment of marginalised and minorities, internationalisation of education and national development, education, empowerment and children and media and education in a democratic and secular society.
Chief minister V.S. Achuthanandan will inaugurate a three-day international seminar on ‘Democratic and Secular Education – Kerala Experience’ being organised by the State government on the Kariavattom campus of the University of Kerala on Thursday.
As many as 2,000 delegates are participating in the seminar in which 150 scholars, including 25 from abroad, will present papers in various thematic sessions. Social activist Swami Agnivesh will deliver a special address at the inaugural session which will be held at a specially erected ‘pandal’ in front of the Academic Staff College, Kariavattom.
After the inaugural ceremony — in which Leader of the Opposition Oommen Chandy and Education Minister M.A. Baby, among others will participate — there will be a thematic session on ‘State and Education.’
Following this there will be 17 parallel sessions at the seminar on various topics, including public-private partnership in education, education, culture and textbooks, democracy, decentralised planning and education, education and empowerment of marginalised and minorities, internationalisation of education and national development, education, empowerment and children and media and education in a democratic and secular society.
MALABAR FETE
Malabar Fete begins tomorrow
The Kozhikode Corporation will organise the 39th edition of Malabar Fest at Swapna Nagari grounds here from Friday.
The festival would feature a variety of programmes . Shri.Sukumar Azhikode will inaugurate the exhibition. Shri.M.P. Veerendrakumar, MP, will open the government pavilions. P. Sathidevi, MP, is scheduled to open the sale of tickets and actor Captain Raju, the cultural events.
The exhibition is being organised with the cooperation of several State governments departments, the Centre and private companies. There will be stalls set up by the Union Ministries of Defence, Railways, Agriculture and Science and Technology.
Stalls will display items ranging from handlooms to electronics and crockery items.
There will be a pavilion for building materials be set up with the help of the Calicut chapter of the Kerala Builders’ Forum, various property developers, prominent banks, steel manufactures, paint companies and other companies catering to the industry.
Three air-conditioned pavilions of 5,000 square feet each would be set up for displaying toys; household items and cosmetics.
The Kozhikode Corporation will organise the 39th edition of Malabar Fest at Swapna Nagari grounds here from Friday.
The festival would feature a variety of programmes . Shri.Sukumar Azhikode will inaugurate the exhibition. Shri.M.P. Veerendrakumar, MP, will open the government pavilions. P. Sathidevi, MP, is scheduled to open the sale of tickets and actor Captain Raju, the cultural events.
The exhibition is being organised with the cooperation of several State governments departments, the Centre and private companies. There will be stalls set up by the Union Ministries of Defence, Railways, Agriculture and Science and Technology.
Stalls will display items ranging from handlooms to electronics and crockery items.
There will be a pavilion for building materials be set up with the help of the Calicut chapter of the Kerala Builders’ Forum, various property developers, prominent banks, steel manufactures, paint companies and other companies catering to the industry.
Three air-conditioned pavilions of 5,000 square feet each would be set up for displaying toys; household items and cosmetics.
Monday, November 24, 2008
PetroleumNon-domestic LPG may cost less
Prices may drop by Rs 350 a cylinder.
Both the players and the customers of non-domestic liquefied petroleum gas (LPG) have something to look forward to next month. Public and private players of the product are betting on a significant drop in prices to revive their fortunes, as it would push demand.
In keeping with the prices in the international market, price of LPG sold for non-domestic purpose is expected to dip in December. The international market has seen the biggest drop in LPG pricing by $320 a tonne from $810 a tonne in September-October.
Industry sources told Business Line that the The price of commercial LPG, which is sold in a 19-kg cylinder at over Rs 1,000 a cylinder, is expected to come down by Rs 350. The dip in commercial LPG prices would also mean that the diversion of domestic LPG for commercial use will be reduced to some extent, as the price gap between the two categories would narrow.Auto gas sector to gain
Due to high prices, the growth in auto gas sector was almost nil in the first six months of the current fiscal. However, the coming six months should be good, industry sources said. The auto gas sector had seen a growth of nearly 40 per cent in last fiscal. However, a robust growth can be expected only next fiscal, industry sources added. Commercial LPG has seen a growth of about seven-eight per cent.
The domestic prices of commercial LPG are reviewed on a monthly basis. In November, the prices increased by a little over 1 per cent, as international prices had seen an upward movement in October and the rupee had depreciated by almost 20 per cent.
While the price of commercial LPG was increased to Rs 1,108.50 a cylinder (Rs 1,095.24 a cylinder in October), that of auto LPG was brought down by 5.34 per cent. Auto LPG prices were revised to Rs 34.38 a litre on November 1 (Rs 36.32). In case of auto LPG, the public sector oil marketing companies are under pressure to keep it at a price lower than the price of petrol in order to make it attractive for the consumers.
“There is a time lag of four to six weeks between the international and domestic LPG prices. The domestic price depends on the Saudi Arabian price and currency value during the month under review,” an official explained. In other words, the domestic pricing is based on the formula of M-1 (price of the previous month). Hence, the December price would depend on the international price of November.
The last one week has seen international LPG prices declining after being stable for sometime, even when there was a sharp slide in crude oil and other petroleum products prices.
LPG for non-domestic purpose is meant for commercial markets such as hotels and for auto LPG
Prices may drop by Rs 350 a cylinder.
Both the players and the customers of non-domestic liquefied petroleum gas (LPG) have something to look forward to next month. Public and private players of the product are betting on a significant drop in prices to revive their fortunes, as it would push demand.
In keeping with the prices in the international market, price of LPG sold for non-domestic purpose is expected to dip in December. The international market has seen the biggest drop in LPG pricing by $320 a tonne from $810 a tonne in September-October.
Industry sources told Business Line that the The price of commercial LPG, which is sold in a 19-kg cylinder at over Rs 1,000 a cylinder, is expected to come down by Rs 350. The dip in commercial LPG prices would also mean that the diversion of domestic LPG for commercial use will be reduced to some extent, as the price gap between the two categories would narrow.Auto gas sector to gain
Due to high prices, the growth in auto gas sector was almost nil in the first six months of the current fiscal. However, the coming six months should be good, industry sources said. The auto gas sector had seen a growth of nearly 40 per cent in last fiscal. However, a robust growth can be expected only next fiscal, industry sources added. Commercial LPG has seen a growth of about seven-eight per cent.
The domestic prices of commercial LPG are reviewed on a monthly basis. In November, the prices increased by a little over 1 per cent, as international prices had seen an upward movement in October and the rupee had depreciated by almost 20 per cent.
While the price of commercial LPG was increased to Rs 1,108.50 a cylinder (Rs 1,095.24 a cylinder in October), that of auto LPG was brought down by 5.34 per cent. Auto LPG prices were revised to Rs 34.38 a litre on November 1 (Rs 36.32). In case of auto LPG, the public sector oil marketing companies are under pressure to keep it at a price lower than the price of petrol in order to make it attractive for the consumers.
“There is a time lag of four to six weeks between the international and domestic LPG prices. The domestic price depends on the Saudi Arabian price and currency value during the month under review,” an official explained. In other words, the domestic pricing is based on the formula of M-1 (price of the previous month). Hence, the December price would depend on the international price of November.
The last one week has seen international LPG prices declining after being stable for sometime, even when there was a sharp slide in crude oil and other petroleum products prices.
LPG for non-domestic purpose is meant for commercial markets such as hotels and for auto LPG
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