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Jeddah Summit: Saudi Arabia promises to increase oil output; India urges "price band mechanism" The Jeddah Summit attended by 35 countries (including OPEC members), seven international organizations and 25 oil companies, concluded on a bittersweet note on Sunday with world's largest oil producer Saudi Arabia promising to increase oil output by 200,000 barrels per day (bpd) in the month of July, which some nations say is still not enough. 23 Jun 2008
Oil prices dip to $127 a barrel in Asian trading Crude oil futures slipped in Asian trading Tuesday as investors sought to gauge whether oil prices have peaked even as many worry that supplies are barely meeting growing global demand. 03 Jun 2008
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Annual inflation rate in India edges towards 8 percent; FinMin "concerned" India's wholesale price index (WPI)-based inflation rate has risen to 7.83 percent in the 12 months to May 3, marginally higher than previous week's annual rise of 7.61 percent, even as India's Finance Minister continues to reassure the people that price rise will moderate in a few weeks. 17 May 2008
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UN food agency says rice prices surging in Myanmar Rice prices in Myanmar's capital have surged 50 percent since deadly cyclone Nargis, which flooded entire rice-growing areas, a United Nations food agency said Monday. 12 May 2008
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Israel, Palestinians need to show progress: Rice The Bush administration has told Israeli and Palestinian leaders they will need to show progress in their secret talks soon, or risk a potentially fatal erosion in public support for a process now in its sixth month without any obvious successes. 11 May 2008
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Inflation rise "stable," "not significant," says Chidambaram, promising downward trend soon India's Finance Minister P. Chidambaram has assured that inflation is under control, Friday, even as government data showed that the nation's wholesale price index (WPI)-based annual inflation rate has risen to a new 42 months high of 7.61 percent in the 12 months ending April 26, 2008. 10 May 2008
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India's annual inflation rate hits 7.61 percent; Govt. bans future trading in essential commodities India's wholesale price index (WPI)-based inflation rate has risen to a new 3 and 1/2 years high of 7.61 percent in the year ending April 26, 2008, marginally higher than previous week's annual rise of 7.57 percent and 0.07 percent lower than the figure it touched on Nov. 13, 2004, government data has revealed on Friday. 09 May 2008
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Indian steel makers agree to lower prices by 5-10 percent to fight inflation In a bid to fight inflation which has touched a three and a half years high, steel makers in India have announced that they would be cutting prices for flat steel products by Rs.4,000/tonne while steel bars and rods used in construction will be cheaper by Rs.2,000/tonne. 08 May 2008
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Oil prices steady in Asian trading after record near $124 Oil prices held steady Thursday in Asia after jumping to a record near $124 a barrel as investors captivated by the market's upward momentum seemed to ignore figures showing an increase in U.S. crude and gasoline supplies. 08 May 2008
