Crude prices up

VIENNA: The price of crude produced by the OPEC was up at the beginning of the week but the cartel said it had no plan to hike output. One barrel (159 litres) of crude from OPEC’s 13-brand reference basket stood at $101.16 on Monday, up by $2.53 compared with Friday’s price, OPEC said. The latest hike came as OPEC secretary general Abdullah al-Badri indicated that there was more than enough oil on the market. — DPA

Yahoo rebuffs MS

SAN FRANCISCO: Brushing aside the threat of a disruptive takeover battle that could batter its shaky stock, Internet pioneer Yahoo Inc reiterated its refusal to sell to Microsoft Corp for less than $45 billion. Yahoo’s defiance, spelled out in a letter on Monday to Microsoft chief executive Steve Ballmer, marked the latest twist in a tug-of-war pitting two high-tech icons trying to mount a more formidable challenge to online search and advertising leader Google Inc. — AP