Interest rates unlikely to go down (The Economic Times 4th Jan 2008)Interest rates are unlikely to fall in near future as it was expected with the State Bank of India raising the fixed deposit rate of various maturities up to 1.5 percentage points. Other banks are also planning to raise deposit rates. After SBI increasing deposit rates, other banks have no choice but to raise the rates to mobilize resources in the domestic market, chairman of a public sector bank said. As the cost of funds for banks will increase, they will resort to raising the lending rates. A senior banker said banks would announce the increased rates in near future. More
Gold zooms past Rs 11,000 per 10 gm(The Hindu Businessline 4th Jan 2008)Gold prices made history as they soared to a record $ 865.35 an ounce in the London A.M fixing on Thursday, tracking which the domestic gold surged to Rs. 11,000 per 10 gm.
On Wednesday, gold was fixed at $ 840.75/oz in London while in the Indian market it quoted at Rs 10,700 per 10 gms, its last recorded high. (Last year, gold prices had hit $850/oz for the first time since 1980.) More
Oil at $100 has Govt mulling options on price hikeNew (The Hindu Businessline 4th Jan 2008)Untamed global crude prices that hit $ 100 a barrel on Wednesday may force the Government to take immediate decisions to ease out the losses being suffered by state-owned oil marketing companies. The Petroleum Minister, Mr Murli Deora, today acknowledged that “it is a cause for concern. Price hike (of auto fuel) is not the only solution. There are other options such as excise duty cut that have been suggested by the Left allies. We have got to find the best solution.”
“A Group of Ministers on prices, including fuel prices, will meet shortly and will consider the other options,” he told newspersons here on Thursday. A decision on whether to raise retail selling prices of petrol and diesel or resort to other options would probably be taken later this month. More
Gold zooms past Rs 11,000 per 10 gm(The Hindu Businessline 4th Jan 2008)Gold prices made history as they soared to a record $ 865.35 an ounce in the London A.M fixing on Thursday, tracking which the domestic gold surged to Rs. 11,000 per 10 gm.
On Wednesday, gold was fixed at $ 840.75/oz in London while in the Indian market it quoted at Rs 10,700 per 10 gms, its last recorded high. (Last year, gold prices had hit $850/oz for the first time since 1980.) More
Oil at $100 has Govt mulling options on price hikeNew (The Hindu Businessline 4th Jan 2008)Untamed global crude prices that hit $ 100 a barrel on Wednesday may force the Government to take immediate decisions to ease out the losses being suffered by state-owned oil marketing companies. The Petroleum Minister, Mr Murli Deora, today acknowledged that “it is a cause for concern. Price hike (of auto fuel) is not the only solution. There are other options such as excise duty cut that have been suggested by the Left allies. We have got to find the best solution.”
“A Group of Ministers on prices, including fuel prices, will meet shortly and will consider the other options,” he told newspersons here on Thursday. A decision on whether to raise retail selling prices of petrol and diesel or resort to other options would probably be taken later this month. More
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