The petroleum ministry has recommended a hike in the foreign direct investment cap in government-owned refineries to 49 per cent from the current 26 per cent.
The Reserve Bank of India has rejected Essar Communications' application to pledge its equity in Hutchison Essar Ltd to Standard Chartered Bank, London.
A sense of urgency can be detected in the Congress-led UPA government's attempt to shift its policy stance with a series of initiatives aimed at reinforcing its image as a government for the common man.
Ratan Tata, in his capacity as the chairman of the Investment Commission, has warned that major projects entailing a combined investment of nearly $60 billion are meeting delays and roadblocks for no apparent reason.
Interest from Malaysia's Petronas in Cairn India and Swiss Petroplus in Cairn India's parent, Cairn Energy, saw the shares of both the companies gaining on the bourses.
Essar Energy Holdings, a part of the Essar group, has acquired an oil and gas exploration block in Nigeria in the latest round of bidding. The shallow offshore block is completely owned by Essar Energy.
However, with the country forecast to become the fifth largest consumer in the next 20 years, analysts are positive that the percentage of deals in the country will increase substantially.
The department of economic affairs in the Union finance ministry has suggested aggressive sterilisation of foreign capital inflows, tightening of government expenditure and intervention in key farm produce markets like wheat.
Supply of the much-needed gas to Dabhol is set to be delayed again. The reason: shortage of pipes required to build the Dahej-Uran pipeline which will feed the gas to the plant.
The department of commerce may de-recognise the 247-hectare engineering special economic zone at Hazira, promoted by Essar Hazira SEZ Ltd.
Bid to plug loopholes that surfaced in Hutch Essar case.
The rising rupee over the last three months has brought cheer to the oil marketing companies, who have together added around Rs 250-300 crore (Rs 2.5-3 billion) to their operating profits already.
In a bid to attract "big oil" to India, the government is close to finalising an Open Acreage Licensing Policy, which gives companies a round-the-year window to pitch for oil and gas in blocks of their choice.
The petroleum ministry has projected a strong year for the oil marketing companies though the largest exploration company, Oil and Natural Gas Corporation, is projected to post a moderate gain in its bottomline.
Maharashtra will get some respite from its power crises next week
The quantum of hike had not yet been worked out, but it was likely to be Rs 2 a litre for petrol and Re 1 a litre for diesel.
The proposal to hive off the LNG terminal at the revived Dabhol power plant in Maharashtra is likely to be scrapped, with promoters and financiers agreeing to pump in Rs 24 billion to restart construction work at the plant.
The decks are being cleared for the acquisition of Hutch-Essar by Vodafone, with the department of legal affairs of the view that the 12.26 per cent stake held in Hutch-Essar by Asim Ghosh and Analjit Singh was in conformity with norms.
The trade policy specifies that "for all goods and services exported from India, services received, rendered abroad, wherever possible, shall be exempted from service tax".
The shares of oil marketing companies have been firming up in the current financial year though the Indian crude oil basket is quoting above $65 a barrel, as investors took long-term.
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