Oil down in Asia trade on concerns of weak US energy demand

Oil was down in Asian trade today on concerns over weaker US energy demand indicated by rising inventories. New York's main contract, light sweet crude for delivery in May dropped 26 cents to 94.38 dollar a barrel and Brent North Sea crude for May delivery shed 17 cents to 105.62 dollar in ...

Sensex gains 118 points in early trade

The BSE benchmark Sensex today roseby 118 points in early trade on sustained buying by funds amid a firm trend in other Asian bourses.The 30-share index rose by 117.61 points, or 0.64 per cent, to 18,532.06 points with all sectoral indices, led by auto and realty, gaining up to 1.29 per cent. The in...

US Prez presents trillion dollar budget

US President Barack Obama has presented a 377 trillion dollar annual budget. He said, it will not only reduce the budget deficit but will also make America a magnet for good jobs and put the country on the path of economic prosperity. Obama also described it as a fiscally responsible blueprint for m...

Jordan suspends foreign worker recruitment to boost jobs for locals

Jordan has decided to suspend the recruitment of foreign workers to give a boost to the employment to Jordanian workers.Labour minister Nidal Katamine said the move will help tide over the rising unemployment among the local population in the country. Our West Asia correspondent reports that the Jor...

Myanmar opens oil block auction;fierce bidding expected as foreign giants hope for energy bonanza

Myanmar launched an auction of30 offshore oil and gas exploration blocks on wednesday, expected to draw fierce competition from foreign giants hoping for a share of an energy bonanza.The energy ministrysaid on its website that successful bidders will be granted full rights to up to three of 19 deepw...

US Prez presents $377tn budget; calls it blueprint for jobs & growth

US President Barack Obama has presented a 377 trillion dollar annual budget. He said, it will not only reduce the budget deficit but will also make America a magnet for good jobs and put the country on the path of economic prosperity. Obama also described it as a fiscally responsible blueprint for m...

Indian envoy meets Saudi Vice Min for Labour;Embassy to set up legal panel to aid Indian nationals

WTO cuts trade growth forecast for 2013 due to risks from eurozone crisis & from greater protectionism

The World Trade Organization has cut its trade growth forecast for 2013 because of risks from the eurozone crisis and from greater protectionism. The WTO says, global trade is now expected to grow by 3.3 percent this year, down from its earlier forecast of 4.5 percent. Next year, however, growth sho...

Sensex gains 188 pts to close at 18,414 pts

Snapping a five-day losing streak, the Sensex at the Bombay Stock Exchange gained 188 points, or 1 percent, to close at 18,414, amid rising global markets, today. The Sensex had declined more than 810 points in the last five trading sessions. The Nifty at the National Stock Exchange rose 64 points, ...

Crude oil futures slips below 106 dollars a barrel

Brent crude oil futures slipped below 106 dollars a barrel, today, after U.S. crude oil stocks swelled to the highest level in more than two decades and dented the outlook for demand in the world's top consumer. Data from industry group the American Petroleum Institute showed a sharp rise o...