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  • Gold Steadies Above $1,240; Economic Data Eyed For Cues

    Gold Steadies Above $1,240; Economic Data Eyed For Cues

    Gold steadied above $1,240 an ounce on Thursday after dipping overnight on a stronger dollar, but caution prevailed ahead of a host of global economic data and on further outflows from bullion funds.

  • Decision on Premium for Deep Sea Gas Discoveries by Early 2015: Oil Secretary

    Decision on Premium for Deep Sea Gas Discoveries by Early 2015: Oil Secretary

    The government will by early next year decide on the premium that will be paid for new gas discoveries in deep sea over and above the recently approved rate of $5.61, Oil Secretary Saurabh Chandra said on Wednesday.

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  • Firms With Cancelled Mines Can Bid in Auction by Paying Levy

    Firms With Cancelled Mines Can Bid in Auction by Paying Levy

    All firms which had their coal blocks cancelled by the Supreme Court, barring those convicted for offences related to mines allotment, can bid in the e-auction after paying additional levy, says the Ordinance on coal mines.

  • Commodity Exchanges to Open for Trading on Thursday

    Commodity Exchanges to Open for Trading on Thursday

    Commodity exchanges will remain open for 'Muhurat' trading on Thursday from 6 p.m. to 8.30 p.m. for all commodities on account of Diwali festival.

  • Brent Holds Above $86 as Buyers Slowly Return

    Brent Holds Above $86 as Buyers Slowly Return

    Expectations that oil demand may pick up in the near term have helped the crude benchmark regain ground after weeks of steep losses that have cut the price by a quarter since June.

  • Gold Hovers Near 6-week Top Amid China Slowdown Woes

    Gold Hovers Near 6-week Top Amid China Slowdown Woes

    Spot gold was little changed at $1,247.45 an ounce by 0036 GMT, not far below Tuesday's peak of $1,255.20, which was its loftiest since September 10. US gold futures eased 0.3 per cent to $1,248.10 an ounce.

  • Dhanteras Gold, Silver Sales Surge up to 30 Per Cent on Lower Prices

    Dhanteras Gold, Silver Sales Surge up to 30 Per Cent on Lower Prices

    Jewellery and coin sales sparkled on Dhanteras on Tuesday with sales rising by an estimated 30 per cent from last year as customers went on a buying spree lured by lower gold and silver prices.

  • India's Oil Demand Rises Nearly 3 Per Cent in September

    India's Oil Demand Rises Nearly 3 Per Cent in September

    India's oil consumption rose nearly 3 per cent in September while diesel sales fell for the second time this fiscal year.

  • Gas Price to Dent Reliance Industries, but EPS May Still Double: Barclays

    Gas Price to Dent Reliance Industries, but EPS May Still Double: Barclays

    Reliance Industries will get 33 per cent higher gas price of $5.61 per mmBtu for output from MA field in the KG-D6 block, but its main D1&D3 fields will continue to get old rate of $4.2.

  • President Promulgates Ordinance for E-Auction of Coal Blocks for Private Firms

    President Promulgates Ordinance for E-Auction of Coal Blocks for Private Firms

    The e-auction of coal blocks for private companies on Tuesday received the nod from President Pranab Mukherjee who promulgated an Ordinance cleared by the Union Cabinet in the backdrop of a Supreme Court order quashing 214 coal blocks to companies since 1993.

  • Fuel Subsidy to Reduce to Rs 75,000 Crore This Year: Oil Minister

    Fuel Subsidy to Reduce to Rs 75,000 Crore This Year: Oil Minister

    Oil Minister Dharmendra Pradhan said in an interview to NDTV that the move to deregulate diesel prices is a "well thought decision" and the markets are appreciating it. He also said that as the world is seeing some stability in oil prices, it is the best time to make the most of this opportunity.

  • Oil Prices Hold Around $86 on China Demand Rise

    Oil Prices Hold Around $86 on China Demand Rise

    Brent crude oil held gains around $86 a barrel on Tuesday as news of robust Chinese oil demand buoyed the market, although prices were capped by oversupply and concerns about the health of the rest of the global economy.

  • Buying Gold on Dhanteras? 10 Things to Know

    Buying Gold on Dhanteras? 10 Things to Know

    Many Indian consider Dhanteras as an auspicious occasion to buy gold. Many jewellers have launched promotional schemes to attract gold buyers while stock exchanges have extended trading hours for gold trading on Tuesday.

  • Gold Steady Near One-Month High on Slowing China Growth

    Gold Steady Near One-Month High on Slowing China Growth

    Gold clung to overnight gains on Tuesday to trade near a one-month high as worries persisted over a slowdown in the global economy after China's growth eased in the third quarter to its weakest since the 2008/09 financial crisis.

  • Private Fuel Retailers to Dip Toe, Not Dive Back, Into India

    Private Fuel Retailers to Dip Toe, Not Dive Back, Into India

    The scrapping of diesel price controls by the government opens the door for private sector refiners to return to a domestic retail market from which they have been excluded for years because they could not compete with state firms.

  • PM Modi Steps Up Economic Reforms, Eyes Privatisation

    PM Modi Steps Up Economic Reforms, Eyes Privatisation

    The government promised on Monday to open up the coal industry to private players and moved closer to selling a stake in a state-run oil company, as Prime Minister Narendra Modi picked up the pace on economic reform days after relaxing fuel price controls.

  • Oil Slips Below $86 on Global Oversupply

    Oil Slips Below $86 on Global Oversupply

    Brent crude slipped below $86 a barrel on Monday, resuming a downward move that took the global oil benchmark to near a four-year low last week as supply overwhelmed weak demand in several key markets.

  • Government Pushes Ahead With Coal Reforms

    Government Pushes Ahead With Coal Reforms

    The government moved on Monday to open up its coal industry to commercial mining, signalling the most serious shift in 42 years toward allowing private players full participation in the sector.

  • Proposed Ordinance Sets Roadmap for Coal Reforms, Mines to be E-Auctioned

    Proposed Ordinance Sets Roadmap for Coal Reforms, Mines to be E-Auctioned

    Finance Minister Arun Jaitley on Monday signalled that the government may allow commercial use of mines in the future, but did not indicate when. The government is also using an executive order or Ordinance to acquire the land of nearly 214 coal blocks that were cancelled in September by the Supreme Court.

  • Cabinet Clears Ordinance to Facilitate Re-Allocation of Coal Blocks

    Cabinet Clears Ordinance to Facilitate Re-Allocation of Coal Blocks

    Finance Minister Arun Jaitley and Coal Minister Piyush Goyal are briefing the media after Monday's Cabinet meeting.

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