India to increase crude purchases from Nigeria, Abuja says
ABUJA India plans to buy more crude oil from Nigeria, Nigeria's presidency on Tuesday quoted India's vice president as saying during a visit to Abuja.
TAIPEI Demand for LCD TVs is likely to rise to a fever pitch next year as consumers across the world upgrade their televisions to enjoy the Beijing Olympics games, according to market research firm iSuppli Corp.
In 2008, global shipments of LCD TV panels are expected to rise to 102.5 million units, up 27 percent from 2007, marking the first time shipments have surpassed the 100 million mark, iSuppli said in a statement seen by Reuters on Saturday.
Beyond the Olympics, the likely huge growth will be fuelled by factors including falling prices, performance improvements and national transitions to Digital TV (DTV) broadcast, it said.
However, amid rising panel output, iSuppli said LCD suppliers are likely to face an oversupply if LCD TV sales fail to meet the industry's high expectations.
"By the end of 2008, newer large-sized LCD fabs will commence production, an event that could result in greater panel output," said Sweta Dash, director of LCD and projection research at iSuppli.
"Whether this production increase will represent a boon or a detriment for the LCD panel suppliers will depend largely on just how much television demand the Olympics actually generates."
After a slump earlier this year, a recovery is under way in the LCD market, dominated by Samsung Electronics, LG.Philips LCD of South Korea and AU Optronics Corp and Chi Mei Optoelectronics in Taiwan.
ALGIERS Iran rejected on Tuesday an offer from Saudi Arabia to limit its oil output in exchange for Riyadh cutting supply, dashing market hopes the two major OPEC producers would find a compromise this week to help ease a global glut of crude.
BERLIN European Central Bank President Mario Draghi is set to face tough questions from German lawmakers on Wednesday about the bank's ultra-loose monetary policy, just as the ECB is considering even more stimulus to revive inflation.