Vienna - The price for crudes produced by the Organization of the Petroleum Exporting Countries (OPEC) continued its climb and was hovering just below the 110-dollar mark, OPEC said on Wednesday.

One barrel of crude oil from OPEC's reference basket stood at yet another record high of 109.92 dollars on Tuesday, up 99 cents from the previous day.

Hopes for OPEC to increase production in the near future were dashed as OPEC Secretary General Abdalla Salem el-Badri ruled out an extraordinary meeting until the next regular meeting, scheduled for September.

Vienna - The pri

Vienna - The pr

After the inflation rate moved up to a nine-month high to 5.11%, RBI governor YV Reddy stated that India’s monetary plan has already included the rising food and fuel prices.

According to the data, the annual wholesale price inflation rate touched 5.11% in the week ended March 1, and the prices have gone up by 5.01% during the last week.

It is projected that inflation will go up in the coming weeks. Mr. Reddy had recently expressed his worry over increasing food and energy prices.

The central bank wishes to keep inflation around 5% during the 2007/08 fiscal year ending March 31.

New Delhi, Mar 14: Inflation rose to over nine-month high at 5.11 per cent for the week ended March 1, due to rise in prices of some manufactured items and aviation turbine fuel, dashing all hopes of interest rate cuts by the RBI to boost the sagging industrial production.

The wholesale price index-based inflation rate stood at 5.02 per cent in the previous week and 6.51 per cent in the correspondingly week a year earlier.

This is the second week in a row that the inflation rate crossed the five per cent mark, the target set by the reserve bank for this fiscal.

By April 2009, the customers will be capable of withdrawing money from ATM without paying any charge.

The Reserve Bank of India has directed the commercial banks to let customers’ free use of Automated Teller Machines (ATMs) for all transactions from 1 April 2009.

According to an RBI announcement, the customers can also use ATMs of other banks for balance enquiries free of cost.

The RBI has also asked banks to put a limit on the fees charged for using ATMs of other banks to Rs 20 for each transaction from March 31, 2008, and eradicate the same from April 2009.