Though there have been no cancellations of contracts by invoking the force majeure clause, a number of clients - especially in the worst-affected sectors like travel and hospitality, oil and gas, as well as manufacturing - have started asking for reducing level of IT support.
Majority of PLL's long-term deals are linked to crude, which faces price challenge from other fuels. Spot LNG is moving away from this linkage, which puts a question mark on crude linked contracts.
Indian Oil Corporation (IOC), the nation's largest oil firm, has renewed a deal to buy up to 2 million tonnes of crude oil in 2022 from Russia's Rosneft, the Russian oil producer said. IOC had in February 2020 signed a deal with Rosneft Oil Company to import up to 2 million tonnes of oil via the port of Novorossiysk. In 2021, the deal envisaged supply of up to 1.7 million tonnes of crude oil but IOC bought just on parcel or shipload as the cost of transporting the oil made it uneconomical, when compared to alternatives. For 2022, the deal is for the supply of up to 2 million tonnes of oil from the Black Sea port of Novorossiysk.
No matter who the opponent, or how big the adversity, Andy Murray never backs away from the fight, observes Deepti Patwardhan.
From March 3, investors in India will be able to trade in select US stocks through the NSE International Exchange (NSE IFSC), a wholly owned subsidiary of the National Stock Exchange (NSE). Investors can invest in NSE IFSC receipts on US stocks, which will be in the form of unsponsored depository receipts (DRs). For a start, this will include DRs of 50 US stocks such as Apple, Alphabet, Amazon, Tesla, Microsoft, Morgan Stanley, Nike, P&G, Coca-Cola, and Exxon Mobil. Indian retail investors will be able to transact on the NSE IFSC platform under the Liberalised Remittance Scheme (LRS) limits prescribed by the Reserve Bank of India (RBI), which currently stand at $250,000 per year.
Walmart CEO Douglas McMillon came first in the CEOWORLD magazine's global ranking of the best chief executives across all industries for 2019.
The government shouldn't hide behind the veil of making a domestic giant out of the HPC-ONGC deal, rather it should just say it needs cash from this divestment exercise, says Sudhir Bisht.
RIL is also more profitable than Tata Motors.
It is ranked 7th on the list of world's top-10 consumer finance firms
Companies are ranked by total revenues.
Indian Oil Corp is ranked highest at 161st in the Fortune 500 list.
For a time it looked as if Apple would never relinquish the top spot in terms of market value.
Trump also announced the appointment of Gina Haspel to head the Central Intelligence Agency -- the first woman selected for the agency's top post.
The meetings were a sign of crisis management.
Both crude benchmarks are now down around 20 per cent since their last peak in June
Cairn India is 25th on the list with 22.2 per cent CGR.
Oil prices were poised for a third day of gains following a rise of more than 4 percent last week after Islamic militants seized much of northern Iraq as Baghdad's forces there collapsed.
More than a year of Covid-19 has pushed most businesses into gloom but Reliance Industries Ltd (RIL) managed to reduce its gross debt 25 per cent, enabling it to turn towards its next phase of capital expenditure that has come in the form of a Rs 75,000-crore plan for green energy and power storage. The company managed to stay afloat during the pandemic because of its large presence in the consumer-centric businesses of retail and telecommunication (see chart: "A new Reliance"). These two businesses constituted 45 per cent of its EBITDA during FY21 from 36 per cent in FY20.
The entire selection process of the IOC chairman was shrouded in mediocrity and mystery.
With nearly a quarter of U.S. energy shares' value wiped out by oil's six-month slide, investors are wondering if the sector has taken enough punishment and whether it is time to pile back in ahead of earnings reports later this month.
The S&P and Dow dipped the most in a day since September 28.
Reliance Industries has regained the top slot among Indian energy companies on the Platts global list
It's a packed 5-nation, 9-day, visit for Prime Minister Modi as he heads to Uzbekistan, Kazakhstan, Kyrgyzstan, Turkmenistan and Tajikistan, apart from Ufa in Russia.
Older workers are headed for the VRS exit in larger-than-expected numbers even as unrest stirs over unrevised wage settlements.
At present, in Myanmar, GAIL and IndianOil have a minority stake in a gas pipeline which goes to China, through South East Asia Gas Pipeline Company.
Though the NDA government had been trying to privatise 20 companies, a decision for which was taken in 2017, and included national carrier Air India, the investor community evinced little enthusiasm for any of them. Now, with an in-principle approval for privatisation of BPCL, CCI and SCI, the government has taken the plunge again.
According to sources, Russian energy giant Rosneft or its affiliates, Saudi Aramco and Reliance Industries are in race for BPCL's three refineries - Mumbai, Kochi in Kerala and Bina in Madhya Pradesh - 16,309 petrol pumps, 6,113 LPG distributor agencies and more than a fifth of 256 aviation fuel stations in the country.
BPCL's impending privatisation and RIL's stake sale to Saudi Aramco raise questions about the future of the West Coast Refinery, once touted as the world's largest.
Harvey is the most powerful hurricane to hit the United States mainland in 12 years on Saturday made landfall in central Texas coast with winds of 195 kmph.
The Chinese President dethroned Russian President Vladimir Putin as the most influential person on the planet.
Gambling debt, stock tip lead to $1 million settlement but no charges for golfer Phil Mickelson.
'Biden's promise of returning to 'normalcy' after Trump appears to mean that the same old politicians, who are responsible for the 'endless wars' in Afghanistan, Iraq and Syria, are being brought out of the woodwork after four years,' notes Ambassador M K Bhadrakumar.
Like Mr Trump, says Kanika Datta, politics tempts many businessmen.
Traders have all but given up attempting to predict where the new-year rout will end
Indian oil and gas exploration companies work in silos.
A vilification campaign against Rosneft has begun in right earnest, says M K Bhadrakumar.
'The pressure on relative performance and the feeling of being left out among many investors may also account for the belief among many that this has to be a technology stock bubble.' 'The feeling of a bubble is also reinforced by the extreme performance gap between growth and value investing.' 'While at first glance, one can only stand back awestruck by the wealth creation delivered by technology stocks globally. It does not seem at all like the internet bubble of 1999-2000, says Akash Prakash.
'Ramchandra Guha has sent down an express delivery at Sunil Gavaskar, the great batsman who seldom wore a helmet while facing the fastest of fast bowlers.' 'Gavaskar may have easily ducked the delivery and Guha would have receded in solitude.' 'But by hitting back at Guha, Gavaskar may have started a barrage of unplayable deliveries,' says Sudhir Bisht about his cricketing hero.
'India missed the software products revolution (and now is in danger of missing the platform revolution), complacent that we are the software experts of the world based on IT services prowess,' points out Rajeev Srinivasan.
India and Japan's effort to form a multilateral group of liquefied natural gas buyers to avoid paying higher prices for the fuel is laudable as an objective but is unlikely to be effective immediately.
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