Crude crosses $57
London, March 17: Oil prices scaled fresh highs on Thursday, forcing Opec to consider a second output increase just a day after its deal to raise supplies failed to halt crude's record-breaking advance. US light crude set a high of $57.50 a barrel and London's Brent crude hit a record $56.15 a barrel. The oil cartel had agreed on Wednesday to raise output by 500,000 barrels per day with immediate effect. The agreement allows addition of 500,000 BPD if prices do not fall. Opec president Sheikh Ahmad Fahd Al-Sabah today said the cartel was prepared to pump more than 30 million BPD in the fourth quarter compared to their new quota of 27.5 million BPD.
Calcutta, March 17: The Company Law Board today said Rajendra S. Lodha, Procheta Majumdar and Vikram Swarup have been elected as directors of Birla Corp, the MP birla group flagship, at the annual general meeting held on September 15, 2004.
New Delhi, March 17: The two-day G-20 ministerial meeting will begin here tomorrow. The meet will prepare the group's strategy articulating the developing countries' stand, particularly on agricultural issues.
New Delhi, March 17: Shaw Wallace has realigned its key portfolio. Joint-president Deepak Chaudhuri has been appointed head of the marketing division with immediate effect.