500 private petro retail outlets coming up soon
THE private sector petro-marketing companies will be setting up 500 retail outlets to market petrol and diesel in the next four months, according to the Petroleum Minister, Mr Ram Naik. Inaugurating an oil and gas conference organised by Tata ...
Pak in talks with Reliance to buy diesel
THE peace initiative between India and Pakistan has acquired an important economic dimension. Pakistan on Tuesday expressed willingness to import diesel from India. "We import 4.5 million tonnes to 5 million tonnes of diesel every year from ...
Sensex rebounds on fund buying
STRONG buying support from institutional investors in the afternoon propped up major stock indices that were looking lustreless in early trade on Tuesday. The buying in late trade helped the BSE benchmark, the Sensex, surge nearly a per cent ...
New thrust to Indo-US ties in civilian nuclear, hi-tech areas
THE vision that the Prime Minister, Mr Atal Bihari Vajpayee, shared with the US President, Mr George Bush, on India-US strategic partnership is now becoming a reality. Following up on the commitment entered into in November 2001 for a ...
RBI lifts cap on Indian cos' investment abroad
FOLLOWING the recent announcements made by the Prime Minister, the Reserve Bank of India has decided to allow Indian corporates and registered partnership firms to invest in joint ventures and wholly-owned subsidiaries overseas up to 100 per cent ...
Rlys to present Rs 790-cr loss on freight operations
THE Indian Railways is set to end the financial year 2003-04 with a loss of Rs 790 crore on freight operations despite record loading volumes. The loss will, however, be made up by operational savings of Rs 1,440 crore. These projections were ...
New rules throw farm imports out of gear
WHILE the whole country has ushered in 2004 with a sense of robust optimism about economic prospects, agriculture commodity importers find themselves in a fix since the beginning of the year over a new set of rules and regulations governing ...
EID Parry mulls acetic acid unit sale
EID Parry is considering selling its acetic acid plant at Nellikuppam, about 160 km south of Chennai. The plant was set up in 1996 at an investment of about Rs 20 crore to produce 10,000 tonnes of acetic acid a year, from alcohol derived from ...
RBI raises margin on UCBs' advances on shares to 50 pc
THE Reserve Bank of India (RBI) has raised the margin on Urban Co-operative Banks (UCBs) advances against shares to 50 per cent from the earlier margin limit of 40 per cent. The margin of 50 per cent will apply to all fresh advances against ...
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