Hike crude output’

WASHINGTON: OPEC should increase crude production in the second half of the year in a bid to alleviate high prices, the head of the US Energy Information Administration Guy Caruso said. He warned that inaction by the OPEC could cause global and US inventories to fall too low. Energy Secretary Samuel Bodman said that he was concerned about high oil prices and the possibility that OPEC might not increase supply. — AP

German inflation up

WIESBADEN: German producer prices rose by 1.7 per cent on a 12-month basis in June, slightly slower than the 1.9 per cent recorded in May. The June rate of producer price inflation was slightly slower than expected. Analysts had been pencilling in an annual rate of 1.8 per cent. The factor behind the slow-down was a 1.4 per cent decline in energy prices. — AFP

Air liberalisation

KUALA LUMPUR: Malaysia Airlines has warned the government that the country will lose out to Singapore if plans to liberalise air services between the two countries are accelerated. The flag carrier is worried that opening up the lucrative Malaysia-Singapore could hurt its business. — AP