Vienna - The price for cru

Vienna - Falling 1.51 dollars on Thursday, the price for cru

The newly appointed Governor of the Reserve Bank of India Governor, D. Subbarao said that he will continue the fiscal reform processes in the financial sector of the country.

He said that he would try his best to tame the ever increasing inflation rate in India. He termed it his top priority. He expressed these views after taking the charge of the central bank. He is appointed as 22nd Governor of the central bank for 3 years duration. He was working as Finance Secretary in the Union Ministry of Finance before is elevation.

Bogota  - Colombian police have seized 5 tons of cocaine, with a street value of about 570,000 dollars, near the country's border with Venezuela, local media reported Thursday.

The drugs were found in the municipality of Uribia, in the La Guajira region, where they were stashed. The cocaine was to be smuggled outside Colombia, media reports said, quoting regional police commander General Oscar Gamboa.

The cocaine belonged to drug baron Daniel Rendon, alias "Don Mario," Gamboa claimed. No arrests were made.

Vienna - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) has plunged to its lowest level since early April, according to OPEC data released on Wednesday.

One barrel (159 litres) of OPEC-produced crude stood at 103.40 dollars Tuesday, 6.62 dollars less than 110.02 dollars on the previous day.

Markets were affected by the fact that Hurricane Gustav had mostly spared oil facilities, as well as by the stronger US dollar against the euro, Vienna-based energy analysts JBC said.

Sana'a, Yemen  - Yemeni police have arrested a leading figure of the Islamic Jihad movement in the southern province of Abyan amid a clampdown on militant groups, security sources said on Saturday.

Khaled Abdulnabi was captured outside his house in the city of Ja'ar in Abyan late on Friday after police followed a suspicious car into Abdulnabi's house, the sources said.

A gun battle broke out between police forces and armed followers of Abdulnabi in streets of Ja'ar after the arrest and lasted for several hours, witnesses said.