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Oil prices fall to $71 in opening trade
Oil prices fell to near $71 a barrel today in Asia, giving up part of the previous day"s big gains, as the US dollar rebounded.

Bat out of hell
The metamorphosis of cricket from sport to business in the last decade lands on a relatively flat pitch.

News of the day

Exports down over 33% in April, sharpest in 14 yrs
The global downturn has taken the wind out of the sails of India"s exports, which fell the most in 14 years in April, by 33.2 per cent, over the same month last year, while domestic slowdown led to imports dropping by 36.6 per cent in the same period.
Small Business

EGoM on 3G fails to resolve major issues

Differences over number of private players to be allowed to offer 3G mobile services continue within the government as an empowered ministers" panel today failed to reach at any consensus. - Firms may seek compensation if spectrum delayed: DoT - PowerMin wants gas at $2.34 for NTPC - DoT again seeks Pranab"s help on 3G spectrum issue - DoT may sell three blocks of 3G; bidders to pay 100% by March - DoT may sell 3 blocks of 3G - Raja apprises PM on BSNL tender, 3G spectrum auction The Empowered Group of Ministers (EGoM), headed by Finance Minister Pranab Mukherjee, met here to finalise the notice inviting applications (NIA) from the potential operators to participate in the forthcoming auctioning for 3G spectrum. The EGoM had decided in its last meeting that four blocks of 3G spectrum would be auctioned whereas the draft NIA document projected only three blocks. The Defence, according to sources, has already vacated 10 MHz of spectrum and five more MHz would be released by August this year, so this make airwaves sufficient only for three private operators besides BSNL/MTNL, which have already started services on commercial basis. "Some of the issues were discussed at the EGoM. Still some of the issues between the Defence and DoT are yet to be resolved. The Chairman (Mukherjee) took all the views. He will decide. If neccessary another consultation will take place. otherwise he will decide," Telecom Minister A Raja told reporters after the meeting. Asked whether the time line for auction of 3G spectrum would be pushed further, the Minister said, "As of now it has not been pushed... There are a number of areas of differences... It will be resolved."


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