Featured

OPEC crude price hovers above 120 dollar mark

ViennaOPEC - The price for crude oil produced by the Organization

Leading al-Qaeda-linked terrorist escapes Kenyan police

Leading al-Qaeda-linked terrorist escapes Kenyan police Nairobi  - A suspected leading terrorist with links to the international al-Qaeda terrorist network managed to escape arrest in the Kenya capital over the weekend, The Standard newspaper reported Monday.

Fazul Abdullah Mohammed, thought to be a key figure in the 1998 bombing of the US embassy in Nairobi, returned to Kenya last week from Somalia, the report said, citing police sources.

He was in hiding in his house in the coastal village of Malindi and managed to flee just an hour before police arrived to arrest him, the report said.

Oil prices above 120 dollars "abnormal," OPEC president says

OPECJakarta - 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.

OPEC wants Indonesia to stay member despite importing oil

JakartOrganization of the Petroleum Exporting Countriesa - 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.

OPEC crude price inches upwards

ViennaOrganization of the Petroleum Exporting Countries - The price for crude

RBI May Announce Benign Monetary Policy

RBI May Announce Benign Monetary PolicyThe Reserve bank of India is expected to announce new monetary policy on Thursday. It can take various fiscal measures to curb inflation rate. Though international prices of crude oil are decreasing, the rate of inflation is not showing positive signs. The inflation rate in India is 11.89 percent at present, which is far away from the RBI’s forecast of 5-5.5 percent by the end of the year.

Pages