BHUBANESWAR: Minister for Steel and Mines Raghunath Mohanty on Wednesday said the State Government had decided to make the export of iron ore from different ports fully transparent.

New Delhi The recent freight rate hike announced by railways and the increase in excise duty from 10% to 12% are likely to make domestic steel costlier by over R1,000 per tonne.

Major steel companies including Jindal Steel and Power (JSPL), Essar and Rashtriya Ispat Nigam (RINL) on Wednesday announced their plans to go for a price hike next month.

Australian govt forecaster cites rise in global output as another reason for gloomy outlook.

Reliance Power on Wednesday said it has obtained an order from the Delhi High Court restraining any "coercive steps" against its 4,000 MW-power project in Andhra Pradesh.

A business daily had earlier reported that four state governments had slapped a fine of Rs 400 crore on the company's unit for delays in setting up the power project and had threatened to encash bank guarantees as well as terminate the power purchase agreements.

Also woos Saudi Arabia with new petroleum diplomacy, while trying to soothe a vexed US, in an interesting coordination effort between external and other ministries

India is finally plunging into the oil politics of the Gulf and West Asia. It sent a team of senior officials from the commerce ministry to Iran around a fortnight earlier, to clinch an oil-for-food deal. And, is beginning to woo the Sunni oil kingdoms in the region, led by none other than Saudi Arabia.

NEW DELHI: The Justice M B Shah Commission looking into illegal mining in Goa submitted its report to the central government on Thursday.

New Delhi Economic growth is likely to pick up pace in the fiscal year that starts on April 1 and could grow 7.6 percent, a finance ministry report (Economic Survey 2011-12) said on Thursday.

Economic growth faltered to a three-year low of 6.1 percent in the December quarter and the pace of economic expansion this fiscal year is forecast to dip below 7 percent for the first time in three years.

Gazprom, the world’s largest natural-gas exporter, is struggling to get a foothold in the Asian markets leading global economic growth.

The Russian company’s plan to supply liquefied natural gas to India from 2016, the year the US is set to start gas exports, is faltering after buyers said they’re looking for cheaper fuel from North America. Last year, decade-long talks to supply pipeline gas to China foundered over price disagreements.

The United States, Japan and European Union plan to bring a new trade case against China over its export restrictions on rare earth minerals used in a variety of high-tech and clean energy products