London: Oil slipped towards $35 a barrel on Friday after the International Energy Agency cut its forecast for world oil demand this year sharply and two of the biggest US banks reported massive losses. The IEA said in its monthly oil report that world oil demand would contract as the eco…

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Ailing US banking giant Citigroup today reported a fourth-quarter net loss of $8.29 billion or $1.72 per share, wider than market expectations.The bank said that $5.6 billion in revenues were pressured by write-downs and losses, including a $6.1 billion in net credit losses and $6.0 billi…

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New Delhi: India expects to get USD three billion from the World Bank in two tranches by March 31, 2010, to help it recapitalise public sector banks, besides National Housing Bank and EXIM Bank. The World Bank may most probably give the first phase of the loan by June this year, a senior …

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New Delhi: Investigators probing the financial manipulation in Satyam Computer suggest promoter Ramalinga Raju’s accounting skills seem to be too good to crack. Sources tell Network 18 investigating agencies have called for the services of forensic accounting experts from KPMG to c…

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NEW YORK (AP) — Oil prices flirted with five-year lows Thursday as unemployment benefit claims rose and OPEC cut demand expectations for 2009. Any belief that energy prices had bottomed out were wiped away early in the day as crude plumbed new lows for the year and more government d…

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New Delhi: Bollywood’s Munnabhai Sanjay Dutt who is UNESCO’s goodwill ambassador to fight against malnutrition is likely to have a meeting with newly elected President of the United States – Barak Obama. The meeting is likely to be in February and in New York. Sanjay is …

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Despite the pain of the last three days after Satyam’s former Chairman Ramalinga Raju revealed that the IT major’s books were doctored by Rs 7,000 crore and the stock touching Rs 10, experts feel all is not lost for Satyam’s investors. Ambareesh Baliga of Karvy Stock Br…

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COLUMBUS, Ohio (AP) — Oil prices tumbled Wednesday as new government reports show crude inventories continuing to build, suggesting that demand for oil and gasoline will not rebound anytime soon. Light, sweet crude for February delivery fell more than 4 percent, or $1.56 per barrel,…

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NEW DELHI: The influx of foreign investments is responsible for the “sky high” land prices and should be discouraged in the realty sector, a leading domestic developer said here on Wednesday. “The foreign investments have done no good to the sector. At the most, they ar…

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MUMBAI: The stock of Rolta India continued to languish in the red on Wednesday. The stock, which witnessed a 70 per cent fall intra-day on Tuesday, was trading at Rs 86.75, down nearly a per cent. It touched a low of Rs 80.35. The stock had nosedived on Tuesday amidst speculation of a f…

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