Oil prices touch a new record of $53 a barrel
Washington: Oil prices held above USD 53 a barrel, marking a new record, as concerns about winter fuel supplies in the United States, operational snags in the Gulf of Mexico and labor strife in petroleum-rich Nigeria continued.

Light crude for November delivery surged 64 cents to a new settlement high of USD 53.31 per barrel on the New York Mercantile Exchange, a rise of more than USD 3 per barrel from a week ago. In London, Brent crude for November delivery surged 81 cents to USD 49.71 per barrel on the International Petroleum Exchange.

Analysts believe that the prices are getting close t o the point where the global demand for oil could begin to taper off in a meaningful way, at which point there could be a substantial correction.
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WFW to represent India in Dabhol legal battle
New Delhi: Government has appointed a UK-based solicitor firm Watson, Farley & Williams (WFW) for its legal defence against GE and Bechtel.

The firms have filed a 6 billion dollar claim against the Indian government as compensation for investment losses in the failed Dabhol power project.

According to govt. sources, WFW is rated fairly high amongst solicitor firms that handle energy-related cases.

The foreign promoters had filed a huge 6 billion dollar claim blaming the Indian government for not taking enough steps to prevent closure of DPC, resulting in violation of Indo-Mauritian Bilateral Investment Promotion Agreement (BIPA).

Government had sought 60 days from the arbitration Tribunal at London to respond to the claim of GE and Bechtel.
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Siemens to integrate FLASH-OFDM into its mobile broadband solutions
Bedminster, USA: Siemens and Flarion Technologies have signed a memorandum of understanding to collaborate on products for the 450 MHz frequency band. Under the terms of the agreement, Flarion will develop the basic 450 MHz-band equipment according to Siemens specifications. By the second quarter of 2005, Siemens will be offering an end-to-end solution for FLASH-OFDM, complete with systems integration services.

In many countries, the 450 MHz frequency band had been occupied by analog mobile telephony. The introduction of digital mobile communication has freed up this frequency band again. Siemens research found that particularly mobile operators in Eastern Europe who do not hold UMTS licenses are looking for an affordable mobile broadband solution for the 450 MHz band. The solution from Flarion and Siemens will meet this need.

FLASH-OFDM is a proprietary cellular broadband technology for data services that was developed by Flarion. It enables mobile wireless applications even while the user is traveling at high speeds, such as in a train. The IP (Internet Protocol) interfaces in FLASH-OFDM enable operators to offer their enterprise customers access to their LANs (Local Area Networks) and paves the way for consumers to enjoy the benefits of the mobile Internet.

FLASH-OFDM systems enable users traveling at speeds of up to 250 kilometers per hour to utilize data services at average downlink speeds of 1 to 1.5 megabits per second, capable of bursting to 3.2 megabits per second in individual cases. The uplink typically offers users an average experience of 300 - 500 kilobits per second, bursting to 900 kilobits per second. With latency of only 50 milliseconds, the system is extremely well suited for enterprise or interactive applications. FLASH-OFDM offers outstanding spectral efficiency and scalability, and provides an air interface for enterprise-class IP services. Because the broadband technology can be so easily deployed, it offers an affordable price-performance ratio.

Flarion's FLASH-OFDM technology enables mobile operators to profitably offer mobile broadband communication IP services. Flarion's Radio Router base station product may be overlaid onto an operator's existing network and radio spectrum, and provides a seamless routing interface to the operator's existing IP network. Flarion Technologies is based in Bedminster, New Jersey,USA.

Siemens Communications is one of the largest players in the global telecommunications industry. Siemens is the only provider in the market that offers its customers a full-line portfolio, from end-user devices to complex network infrastructures for enterprises and carriers as well as related services.
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Revolutionary tyre system set to replace traditional tyres
Paris, France: Tire blow-outs and flats are some of the leading causes of deaths on roadways. Until now, drivers had no control over the loss of tyre pressure, flats or blow-outs. But a revolutionary new tyre system, called PAX System, is changing that and giving drivers safe alternatives to traditional tyres.

The most fundamental difference between the two systems is that a PAX System tyre is designed to never separate from the rim, even with the occurrence of a sudden flat at high speeds under normal driving conditions. The inner support ring also offers exceptional maneuverability and control in the event of a blowout.

The revolutionary PAX System anchoring system and integrated run-flat system work together to give PAX System users a new level of performance and safety versus traditional tyres. An on-board monitoring system allows drivers to monitor PAX System tire pressure and instantly alerts the driver to changes in tyre pressure.

PAX System is designed to give drivers control when they need it the most, letting the driver decide when and where to pull over to have the tyre repaired. PAX System tyres can run for 125 miles at 55mph after a flat or blowout.

Developed and patented by Michelin, PAX System, has been licensed to competing tyre manufacturers including Pirelli, Goodyear, Sumitomo, and Toyo to help assure a consistent industry standard and help move consumers towards this safer tyre technology faster.
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