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 What Is India News Service Friday, March 09, 2007

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Manmohan urges more PSEs to go public

In an indication that public sector enterprises (PSEs) would be empowered with greater operational flexibility in terms of financial and managerial decisions, Prime Minister Manmohan Singh asked them to merge and acquire.

Major Developments in Energy

Many new deals and projects were announced today to further India's energy agenda.

  • RIL hives off foreign oil, gas biz to Dubai firm
    Reliance Industries separated its overseas oil and gas projects into a separate wholly-owned company based in Dubai - titled Reliance Exploration and Production DMCC - and is looking to tie-up with ONGC for joint energy bids abroad.

  • OVL signs pact with Libya co
    ONGC Videsh Ltd (OVL), the overseas arm of ONGC, has signed exploration and production sharing agreement with National Oil Corporation of Libya.

  • Bhilwara bags hydropower projects in Arunachal
    Bhilwara Energy Ltd (BEL), part of the Delhi-based LNJ Bhilwara Group, has signed a memorandum of agreement (MoA) with the Arunachal Pradesh Government for development of three hydropower projects with a total capacity of 290 MW.

  • Suzlon plans to diversify into solar, bio-diesel biz
    Suzlon Energy Ltd has plans to diversify into the solar and bio-diesel business within four years. The company expects that this move would produce the right synergies with its existing business in the wind energy space.

  • IOC to set up Rs 25,000 cr TN refinery
    State-run company Indian Oil Corporation plans to invest about Rs 25,000 crore to set up a 15 million tonne (mt) refinery and petrochemicals complex in Ennore in Tamil Nadu to maintain its position as India's largest refiner.

  • Cairn appoints global advisor for Rajasthan
    Cairn India appointed international consultant JP Kenny to carry out technical studies on the proposed pipeline from its Rajasthan oil field to the Gujarat coast.

  • ONGC may set up Kakinada refinery
    Kakinada port may finally get a greenfield refinery, and it is likely to be bigger than originally planned.

  • OVL inks pact for 4 Libyan blocks
    ONGC said it has signed an exploration and production sharing agreement with Libya's National Oil Corporation for exploration of the African country's offshore Contract Area 43.

Water remedies

Even as the Cauvery waters-sharing dispute continues to simmer, despite the Tribunalís final verdict, another decades-old, and equally contentious, row over the distribution of the Ravi-Beas waters has flared up.

* * *

EU leaders agree to cut greenhouse gases
European Union leaders reached a broad agreement on an ambitious plan to cut greenhouse gases and switch to renewable energy sources as part of the fight against global warming.

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Ancient Indian dynasties documented their administration,
significant developments, grants, and milestones as inscriptions
in temples. The Archaeological Survey of India (ASI) has documented
these inscriptions from 1886. These pages contain inscriptions from
Pallava, Chola, Pandya, Western Chalukya, Eastern Chalukya,
Rashtrakuta, Hoyasala, Vijayanagara, Vishnukundin, Kakatiya,
Reddi, Vaidumba, Chinda, Eastern Ganga, Gajapathi,
Kalchurya, Qutb-Shahi of Golkonda, and Moghul, dynasties.

Recent Editorials

U.N.: Rape widespread in Darfur conflict
Women in Darfur continue to be subjected to rape by all sides in the brutal conflict in western Sudanese region, the U.N. human rights chief said Thursday ó International Women's Day.

Khaleda's son held, Hasina home searched
In a series of major developments in Bangladesh, the Army-led forces detained the eldest son of the former Prime Minister, Khaleda Zia, raided the residence of Awami League president Sheikh Hasina and arrested scores of senior politicians.

LTTE, allies to blame: Colombo
Colombo accused the LTTE and its allies of involvement in abductions and killings across the island to defame the Government.

Olmert and Abbas to meet Sunday
Israeli Prime Minister Ehud Olmert and Palestinian President Mahmoud Abbas will meet on Sunday for their second summit in a month.

Musharraf Fires Chief Justice
Pakistan's President Gen. Pervez Musharraf replaced the Islamic nation's chief justice for "misuse of authority."

China to invest $1T in foreign reserves
China is creating an investment company to make more profitable use of its $1 trillion in foreign currency reserves, the finance minister said Friday, in a move that could change the flow of billions of dollars in global markets.

Sustainability Report: ITC among first 10 in the world
ITC Ltd has emerged as the first corporate from India to find a place among the first 10 companies in the world to publish its Sustainability Report in compliance with the latest G3 Guidelines of the Netherlands-based Global Reporting Initiative (GRI).

Fiat to sell its cars only through Tata-Fiat dealership chain
Fiat India has decided to sell its range of cars exclusively through the Tata-Fiat chain of dealerships.

Tata Steel arm buys plants in Vietnam
As part of its focus on regional consolidation, Tata Steel, through its wholly owned Singapore subsidiary, NatSteel Asia Pte Ltd, has entered into separate agreements to acquire controlling stake in two rolling mills located in Haiphong, Vietnam.

VW to assemble engines at Pune plant
Volkswagen AG plans to assemble engines at its proposed car manufacturing facility at Chakan in Pune. It will look at their production once the volumes roll in.

Symega Savoury to be inaugurated today
The Austrian Ambassador to India, Dr Jutta Stefan Bastl, will inaugurate the new factory of Symega Savoury Technology Pvt Ltd, a joint initiative of Synthite Industrial Chemicals Ltd and Omega Flavours Technology Pvt Ltd, at Kolenchery near Kochi .

Caparo group to set up Rs 300-cr plant near Chennai
The Caparo group of UK today signed a Memorandum of Understanding with the Government of Tamil Nadu to set up a Rs 300-crore plant at Oragadam, near Chennai.

Skoda plans small car for emerging markets
Skoda which was planning a small car for the Asian market some years ago, is now learnt to be considering launching a small car for the emerging markets like India and Brazil.

Italy's Lavazza to buy Barista
Italian coffee chain Lavazza is close to acquiring Barista. An announcement to this effect is expected shortly.



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