Business & Economy

India wins arbitration
award in oil dispute

What is India News Service, Tuesday, 19 October 2004, 2000 hrs IST

India has won a major international arbitration award in disputes relating to production sharing contracts of Ravva Oil Field in Andhra Pradesh, which accounts for about 8 per cent of India's oil production (India's current oil production is around 6.50 lakh barrels a day with two million barrels a day being imported). 

As a result of the award, the Central Government will benefit to the tune of millions of dollars already deducted by `Contractor parties' in the last ten years.

India's drug sector to match IT success: Analysts say the fortunes of Indian drug firms are set to improve over the next few years as they tap the export markets in the United States and Europe.

DPC revival to cost Rs. 1,800 crores: The Ministry of Finance has estimated that about Rs. 1,800 crores would be needed to restart the Dabhol Power plant, lying idle for the past three years. 

PM to head rural infrastructure panel: Prime Minister Manmohan Singh will head the newly constituted National Committee on Rural Infrastructure.

Indian tobacco records lower level of harmful constituents: Those who find it hard to kick the smoking habit may derive some comfort from the fact that Indian tobacco is getting less harmful. The concentration of tobacco-specific nitrosamines (TSNA), harmful constituents in Indian tobacco, has been found to be lower than the global concentration level.
 
WB to raise lending to $ 2.5 b: The World Bank has decided to significantly increase lending to India to 2.5 billion dollars from $ 1.5 billion last year. “We have decided to significantly increase the lending to India,” said Michael Carter, Country Director-India, World Bank.

Pending new airport, a new look: The domestic terminals at Indira Gandhi International Airport are all set to get a facelift at par with international standards - in keeping with the Capital's "renovation" for the upcoming Commonwealth Games in 2010. As part of the plan, Terminal 1B and Domestic Arrival buildings will soon have a common patio.

Birla Sun takes over Alliance schemes: Birla Sun Life Asset Management Co Ltd (BSLAMC) today acquired the mutual fund schemes of Alliance Capital Asset Management (India) Ltd (ACAM). 

IPCL net up: Indian Petrochemicals Corporation has reported a sharp rise in its net profit for the second quarter ending September 30, 2004, at Rs. 138 crores against Rs. 54 crores in the same period of the previous year. Net turnover ... 

  
 



Overall:

India will shine in drug sector: Analysts are predicting a healthy future for the Indian pharma industry. 

Government drew up costs of reviving Dabhol: The power plant has been lying idle for three years.

PM will head infrastructure panel: Manmohan Singh is taking the initiative in developing rural infrastructure.