Vienna - If the board of the UN nuclear watchdog approves an inspection agreement with India on August 1 as planned, it could set a precedent for other nuclear weapon-capable countries to also seek limited IAEA inspections in return for wider benefits.

While the inspection agreement will bring New Delhi closer to international nuclear nonproliferation norms, experts warn that the so-called Safeguards Agreement with the International Atomic Energy Agency (IAEA) does little to limit the Indian nuclear weapons programme.

The IAEA Board of Governors is likely to adopt the agreement unanimously, Vienna-based diplomats said. Even India's regional rival Pakistan has indicated it will not ask for a vote on the issue, they added.

Stockholm - Swedish state-owned energy group Vattenfall posted higher operating profits for the second-quarter of 2008, boosted by its operations in the Nordic region, the group said Wednesday.

Operating profit before tax and interest was 6.3 billion kronor (1 billion dollars), up 11 per cent on the corresponding business period in 2007.

Second-quarter turnover increased by 9.9 per cent to 35.4 billion kronor.

Vattenfall Chief Executive Lars G Josefsson said the group's Nordic Business unit contributed to the increased operating profit.

Higher electricity prices on the local electricity market in the Nordic region contributed to the profits.

Stock market analysts have maintained ‘buy’ rating on Cairn India stock with an intraday target of Rs 233.

According to them, interested traders can purchase the stock around Rs 229 with a strict stop loss of Rs 226.

Shares of the company, on Tuesday (July 29), closed at Rs 228.21 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 20009511. The share price has seen a 52-week high of Rs 342.50 and a low of Rs 134.60 on BSE.

The outlook for the stock is very strong, and it will achieve the target price as the company has strong growth plans and strong operating capabilities.

Jakarta - Crude oil prices above 120 dollars a barrel are "abnormal" but they could fall to around 78 dollars under the right circumstances, the president of OPEC said Tuesday.

"If the dollar continues to strengthen and the political situation improves, then the long-term prices will be about 78 dollars," Chakib Khelil said while on a visit to Indonesia.

He added that the market was well-supplied with oil, refuting arguments that there is a world shortage of the commodity and members of the Organization of the Petroleum Exporting Countries (OPEC) should increase production.

Jakarta - The Organization of the Petroleum Exporting Countries (OPEC) would like Indonesia to remain a member, the president of the oil cartel said Tuesday on a visit to the country that has become an oil importer.

Indonesian President Susilo Bambang Yudhoyono announced in May that his country was considering quitting OPEC because its interests have come into conflict with the cartel's policies since it began importing oil in 2003.