Vienna - Austria's government is set to extend the privatization process of Austrian Airlines AG and is ready to take over more than half of the carrier's debt, Austrian news agency APA reported Monday.

As demanded by the only remaining bidder, Deutsche Lufthansa AG, the state was ready to shoulder up to 500 million euros (631 million dollars) of the flag carrier's debts of around 900 million euros, APA wrote, citing unnamed government sources.

The government's mandate to privatise its 42.75-per-cent stake in Austrian Airlines was scheduled to run out Tuesday, but the process was likely to be prolonged until Dec.
31, the sources said.

Vienna- The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) fell below 60 dollars Friday, despite the cartel's decision to curb production.

Growing recession fears sent stock markets and oil prices downward, with one barrel (159 litres) of OPEC crude standing at 57.57 dollars Friday, 2.70 dollars lower than on the previous day, according to data provided by OPEC on Monday.

The 19-month low came on the same day that OPEC oil ministers decided at an emergency meeting in Vienna to cut their total output by 1.5 million barrels per day from November 1, in order to stop the oil price from falling.

Vienna  - Austrian authorities said Friday they would soon start a new probe into the abduction and eight years of incarceration of Natascha Kampusch, in order to investigate whether her abductor had accomplices and whether there had been other victims.

The decision came after an independent commission installed by the interior ministry found flaws in the investigations in July.

Kampusch, who is 20 years old today, managed to flee her abductor Wolfgang Priklopil two years ago, after he had abducted her on her way to school in 1998.

Vienna- Austrian authorities said Friday they would soon start a new probe into the abduction and eight years of incarceration of Natascha Kampusch, in order to investigate whether her abductor had accomplices.

The decision came after an independent commission installed by the interior ministry found flaws in the investigations in July.

Vienna - Oil ministers from the Organization of the Petroleum Exporting Countries (OPEC) decided Friday in Vienna to cut their total production by 1.5 million barrels per day, in reaction to falling prices and slowing demand.

"There is an oversupply, and the stocks are very high," said OPEC President and Algerian Energy Minsiter Chakib Khelil, explaining the decision.

The cut, down from the current quota of 28.8 million barrels per day, would be effective from the start of November, OPEC said in a statement. One barrel equals 159 litres.

Khelil denied that the cartel's move would have any impact on inflation or global economic growth.

Vienna - Oil ministers from the Organization of the Petroleum Exporting Countries (OPEC) set to meet Friday in Vienna were expected to cut oil production in reaction to falling prices and slowing demand.

Several of the cartel's 13 members had indicated before the meeting that they were in favour of lowering the group's joint output by at least 1 million barrels per day. One barrel equals 159 litres.

Since mid-October, the basket price of OPEC crude has hovered below 70 dollars per barrel, down from its July high of 140.73 dollars.