Former Federal Reserve chairman Paul Volcker said the rise of China and other emerging economies has underscored a decline in the comparative economic and intellectual leadership of the US.

Bond yields rose to two-week highs on Tuesday on disappointment the central bank had not yet made a decision on whether to raise the amount of bonds banks can hold free of mark-to-market requirements.

India and Russia, two of the famous four 'BRIC' economies, on Tuesday vowed to add muscle to their bilateral relations by forging partnership in nuclear energy, bio-technology, nano-technology and core infrastructure.

Heavy engineering and construction giant Larsen & Toubro has developed the expertise to manufacture nuclear power plants of 3,000 mw range but does not expect orders for them soon.

State-run utility GAIL India is constructing pipelines worth Rs 18,000 crore, which will add 6,000 km to its gas transportation network over the next three years.

The battle of one-upmanship over the setting up of an ultra mega power project in Bundelkhand between the Uttar Pradesh government and the UPA government at the Centre seems to have entered another round with the state government is ready