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BSNL's rise and fall
A couple of decades ago, when more good people were leaving India Today magazine than joining it, Aroon Purie asked a departing colleague, who’d just given him the usual spiel you give while resigning, “If I’m the best boss around, why is everyone leaving?” Much the same question comes to mind while reading Connecting India — if BSNL and the Department of Telecommunications are indeed full of as many good people as the author will have us believe, how come the country’s top telecom PSU hasn’t made any profits from its operations in the last two-to-three years? Indeed, if you take the thousands of crore the PSU got by way of an Access-Deficit-Charge tax levied on rival telcos’ incoming calls, BSNL’s unprofitable years increase even more.
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Oil touches $80 on better US economy

Oil prices touched $80 a barrel today in Asia on optimism a gradual US economic recovery in 2010 will boost demand for crude. - HPCL to supply Euro IV petrol in Hyd - IOC revisits Ennore project for LNG terminal, power unit - Petrobras to exit ONGC block, Shell keen to get in - UAE"s crude production could rise 12.5% by 2014 - ONGC loses Algeria oilfield to Chinese firm - Oil imports rise first time in over a year Benchmark crude for February delivery was up 63 cents at $79.99 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange after briefly changing hands at $80. The contract added 8 cents to settle at $79.36 on Thursday. Trading was closed Friday for the New Year holiday. Oil has jumped from $69 a barrel last month on signs the US economy may be improving. The unemployment rate fell to 10 per cent in November from 10.2 per cent in October, and the government is scheduled to announce December"s results later this week "Most people expect the economy to get better this year, and demand should follow," said Victor Shum, an analyst with consultancy Purvin & Gertz in Singapore. "But traders so far lack the conviction to trade oil above $80 simply because of there haven"t been clear indications of growing demand yet." Colder weather has also lifted crude prices recently by boosting demand for heating oil, Shum said. Oil prices rose 78 per cent last year. In other Nymex trading in February contracts, heating oil rose 2.52 cents to $2.14 a gallon and gasoline gained 2.11 cents to 42.07 a gallon.


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