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Oil Up In Asia As Investors Seize Cheaper Crude
Reported By nikitha On 16th Jun 2011
Source spacer : spacer DDinews
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Oil up in Asia as investors seize cheaper crude Oil was up in Asian trade on Thursday as traders engaged in bargain-hunting after crude prices slid below USD 95 per barrel in overnight trade, analysts said.New York's main contract, West Texas Intermediate (WTI) light sweet crude for July delivery, rose 48 cents to USD 95.29 a barrel. Brent North Sea crude for delivery in August gained 99 cents to USD 114.00 on its first trading day.Bargain-hunting traders were buying up crude after its overnight dip, said Victor Shum, a Singapore-based analyst at Purvin and Gertz international energy consultancy. "Traders view this as a buying opportunity after oil prices tumbled," he told.WTI crude prices had dived more than USD 4.50 in late US trade on Wednesday, sinking below USD 95 as investors fretted about fresh signs of weakness in the US economy and tensions in Greece sent the dollar jumping .Data from the US released Wednesday showed manufacturing conditions in New York falling into negative territory for the first time since November 2010 as inflation rates soared to their highest level in more than two-and-a-half years.Markets had also been rattled by the failure of eurozone finance ministers to reach an accord in Brussels Tuesday on a second bailout package aimed at averting a Greek debt default, sending the dollar sharply higher against the euro.
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Latest Business News  
Ranbaxy, USFDA in settlement talks, may pay $1 bn: Report
Ranbaxy, USFDA In Settlement Talks,
5th May 2011
Ranbaxy Laboratories and the US health regulator are reportedly negotiating a settlement to lift a ban on the ...
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'Govt, RIL in proxy fight over KG-D6 output decline'
'Govt, RIL In Proxy Fight Over KG-D
5th May 2011
Reliance Industries wants a hike in the price of natural gas to resume drilling in the KG-D6 fields, which hav...
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ONGC FPO to open on July 5
ONGC FPO To Open On July 5
5th May 2011
After being deferred twice, state-owned Oil and Natural Gas Corp's (ONGC) Rs 11,500 crore public offer is now ...
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Stock market logs in longest losing tempo in a decade; down 259 points
Stock Market Logs In Longest Losing
5th May 2011
The stock market tumbled for the ninth straight day on Thursday - its longest losing tempo in about a decade -...
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Food inflation slips to 8.53%
Food Inflation Slips To 8.53%
5th May 2011
Food inflation fell to 8.53 percent for the week ended April 23 on the back of fall in prices of pulses, rever...
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RBI raises key policy rates by 0.50% to tame inflation
RBI Raises Key Policy Rates By 0.50
4th May 2011
In a bid to check inflation, Reserve Bank Tuesday raised its short term lending (repo) rate by 50 basis points...
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Banks see margin woes ahead on RBI double whammy
Banks See Margin Woes Ahead On RBI
4th May 2011
The RBI's higher-than-expected rate actions together with a rise in savings rate could put Indian banks in a t...
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India's 300 mn mobile phone 'ghosts'
India's 300 Mn Mobile Phone 'ghosts
4th May 2011
A few days ago, the Telecom Regulatory Authority of India (TRAI), the industry watchdog, said the country's mo...
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Worldwide IT services revenue at $793 bn in 2010
Worldwide IT Services Revenue At $7
4th May 2011
Worldwide end-user spending on IT services totalled USD 793 billion in 2010, a 3.1 percent increase from the p...
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Govt mulling Rs 3/litre diesel rate hike after Assembly polls
Govt Mulling Rs 3/litre Diesel Rate
4th May 2011
The government plans to hike diesel prices by up to Rs 3 a litre soon after the Assembly elections in five sta...
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The B magazine has some of the most competetive rates in the Desi Publishing Industry. We are affordable to allow more businesses to tap into the Desi Market in Dallas ,TX
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TajMahal Indian Cuisine has long been Austin's favorite dining experience. Owners Ajay and his wife Kiran, were both raised and educated in the art of Indian cooking and hospitality in New Delhi, India. Opening TajMahal Indian Cuisine in 1990, the couple gave many Austinites their first taste of intriguing tastes of India. The public responded with numerous awards for Best Indian and Best Buffet in the Austin Chronicle's well-respected 'Best of Austin' awards, year after year.
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Discounted Fares Inc, as the name speaks for itself deals with discounted airfares for international travel. Willie Abraham, the President and CEO, has been in the travel industry for over 22 years. He was the Co Founder of a reputed travel agency in Dallas since 1989,moving on to open branches in Austin,Texas and Mumbai, India.
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Paradise Biryani Pointe is a perfect and pleasant place for Delicious and Traditional Hyderabad Nawabi Food. With the strength of esteemed and loyal customer base we are very glad to serve our customers in New Jersey, Virginia, Texas and North Carolina to relish their Taste buds with Traditional Taste and Unique Preparation of Hyderabadi Biryani, Moghlai and Tandoor Cuisine.
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The vision for Nishel Events by Design was created by Nisha Patel. She is well known for her high energy, spunky attitude and natural sense of unique creativity. Nisha and her staff have a true passion and talent to create that once in a lifetime experience that will never be forgotten.
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Tanmai Jewelers specilaizes in diamond jewelry. We are Importers/Exporters and trusted Suppliers of Quality Stones and Jewelry.
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Lucid Travel Inc. based in Dallas is a full service travel agency. Lucid Travels offers competitive rates for international travel (Europe, Middle East, Asia, South America and Africa). Lucid Travels Inc. has professional staff in order to meet all your travel based requirements.
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Micropix Creation is a full service Graphic,Print ,Web Design and Development Company located in Dallas ,TX
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Jai Ho..! Restaurant offers you a relaxed, contemporary atmosphere for you to enjoy an extraordinary, authentic Indian Cuisine in addition to Chinese dishes. Enjoy excellent food, cozy ambience, outstanding service and comfort in the middle of DFW metropolis.
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desiplaza.us
radiokhushi.com
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