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Business & Economy
India to seek Saudi help
to build oil reserves
What is India News Service,
Tuesday, 29 March 2005, 1500 hrs IST
India will seek Saudi Arabia's help in building strategic oil reserves and is exploring investing in building refineries in the world's largest oil producing country.
"New Delhi is also inviting Saudi Arabian investment in oil refining and fuel retailing and exploring opportunities to invest in developing gas fields in the oil-rich nation", said Petroleum Minister Mani Shankar Aiyar on his way to Saudi Arabia.
" My talks with Saudi Arabia's oil minister will focus on strengthening bilateral cooperation in hydrocarbon sector," Aiyar said.
India's crude oil imports from Saudi Arabia have risen four folds - from 6 mn tns in 1999-2000 to just under 24 mn tns in 2003-04. Saudi Arabia accounts for 26 per cent of the total crude oil imported by india.
India's
prospects bright: Chidambaram: The "real growth'' of India's Gross
Domestic Product (GDP) may be "conservatively'' projected at an average of
7-8 per cent annually between now and 2015, according to the Union Finance
Minister, P. Chidambaram.
15,000
London jobs to shift to India : Study:
A large number of well-paid city jobs could be lost to India over
the next five years, according to a new study.
BJP to rethink Vat boycott:
BJP President L.K. Advani today assured Vat Empowered
Committee Chairman Asim Dasgupta that the party would give a second look at its
decision to boycott Vat in the BJP-ruled states.
Lanka puts BP deal
on hold: Sri Lanka today put off indefinitely a decision to sell off part of
the state-run oil company to Bharat Petroleum as trade unions threatened to stop
work, triggering panic buying at petrol stations across the country.
Dabur
to make additional investments: Dabur
India Ltd's board on Monday approved a fresh investments in Dabur Foods and
Balsara Home Products to meet their expansion and operational needs. The company
would infuses additional equity capital of Rs 10 crore in Dabur Foods and Rs
27.66 crore in Balsara Home Products, a recently acquired company."
Cognizant
to set up centre in Coimbatore: Cognizant Technology Solutions is planning
to enter the Tier II cities for expanding its development activities. It had
identified Coimbatore in Tamil Nadu for setting up its development centre.
SEZ legislation in current session:
Commerce and Industry Minister Mr. Kamal Nath today said a comprehensive
legislation for the setting up of Special Economic Zones would be introduced in
the current session of Parliament. He said the foreign trade policy had been
deferred by 10 days to allow adequate time for the availability of inputs and
their analyses.
BSNL
demands Rs 1840-cr from MTNL for IUC charges:
BSNL has raised a demand of Rs 1,840 cr from MTNL towards network
charges since 2000-01, a move which could put tremendous pressure on MTNL's
financial position.
A-I\92s
daily flight to LA takes off from Delhi: Several
passengers danced with joy after checking in their baggage for Air-India\92s
inaugural flight today from Delhi to Los Angeles via Frankfurt that officials
said will be the fastest connecting India and the US west coast.
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