Indian Oil Corporation, India's largest refiner, on Thursday sold half its stake in gas firm GAIL (India) Ltd for Rs 561.54 crore (Rs 5.61 billion) to repay debts and raise money for expansion plans.
The top Indian Olympic Association (IOA) delegates were busy giving finishing touches to their action plan as they geared up for the crucial meeting with the International Olympic Committee in Lausanne to draw a roadmap for India's return to the Olympic fold.
Tokyo would be an inspirational choice to host the 2020 Olympic Games, Prime Minister Shinzo Abe told Olympic officials on Monday, with Japan keen to showcase its recovery from a devastating 2011 earthquake and tsunami.
The Sochi Winter Games set records in competitor numbers, medals awarded and quality of venues, keeping athletes happy and proving critics wrong, said International Olympic Committee President Thomas Bach on Sunday.
In a reprieve to the suspended Indian Olympic Association, the International Olympic Committee has decided to extend the deadline for adopting an amended constitution, the draft of which is currently being reviewed by the world body.
Led by Olympic champion Neeraj Chopra, India will seek to showcase its ascendency as a sporting power at the Asian Games, which opens formally on Saturday after an unprecedented one-year delay due to the COVID-19 pandemic.
Officials from State-run refiners contend that savings from purchase of Russian oil are used to offset a part of the losses in revenues from selling transport fuels and LPG at State-set rates.
The International Olympic Committee has stripped Lance Armstrong of his bronze medal from the 2000 Sydney Olympics because of his involvement in doping.
Indian Oil Corporation on Thursday said its under-recoveries would come down by Rs 2,000 crore (Rs 20 billion) in the next six months on account of the price hike in the petroleum products.
IOC beat defending champions Indian Airlines 4-1, while PSB edged past Services 2-1 in the 61st Senior National Hockey Championship.
The former South Africa captain said the inclusion of cricket in the Olympic Games is a big push to attract more countries to the game and it is a big chance for cricket to challenge football in terms of global sports.
The state-run Indian Oil Corporation on Wednesday said it plans to begin the commodity derivative transactions in a few weeks as part of its risk management strategy against the volatile international crude oil prices.
Former India hockey captain Zafar Iqbal said the country's prominent athletes would write to the International Olympic Committee seeking its help for drawing up a blueprint for resurrecting sports in the country.
Two top Indian Olympic Association officials are preparing to leave for Switzerland for a meeting with International Olympic Committee top brass to plead their case in the wake of the world body's decision to propose IOA's suspension in its Executive Board meeting.
The International Olympic Committee's decision to write a letter directly to the Sports Minister for a joint meeting has come as a surprise to suspended IOA officials.
North Korean shooting double medalist Kim Jong-su has tested positive for a banned substance and been excluded from the Beijing Olympic Games and stripped of his medals, the International Olympic Committee said on Friday. A female Vietnamese artistic gymnast, who finished out of the medals, has also tested positive for a banned substance, an IOC spokeswoman told reporters.
The government on Friday cleared disinvestment in two bluechip state-owned companies IOC and Bhel, which would fetch over Rs 7,300 crore (Rs 73 billion) to the exchequer in the current fiscal.
India's only private sector oil refiner, Reliance Industries, has sought a two-year extension of its agreement with Indian Oil Corp to sell Jamnagar refinery products through the state-run firm's retail network.
The powerful performance at Athens by China, Japan and their neighbours marked the "awakening of Asia".
State-owned refiner Indian Oil Corp and its exploration partner Oil India Ltd plan to bid for two onshore oil and gas exploration blocks in Myanmar.
Indian Oil Corporation on Friday said it has launched a voluntary retirement scheme - for its surplus employees - that is valid till December 31, 2003.
The state-owned Indian Oil Corporation may see revenue loss on fuel sales jump 63 per cent to over Rs 42,540 crore (Rs 425.40 billion) in the current fiscal.
International Olympic Committee (IOC) president Thomas Bach said on Tuesday that the Rio de Janeiro Olympics would be 'spectacular' and a 'great success' despite a political and economic crisis gripping the host nation.
Defying the ban imposed by the International Olympic Committee, the IOA today went ahead with its Annual General Meeting and elections, insisting that it had not done anything wrong.
China basked in the glow of their 51st gold medal and got a clear thumbs-up from International Olympic Committee on the last day of the Games on Sunday. The hosts finished well clear atop the medals table with 15 more golds than the United States. The last of the 302 gold medals was won by France in the men's handball.
Modi said that the ocean economy held 'enormous promise'.
IOC and other state-run oil marketing companies such as BPCL and HPCL are suffering revenue losses on sale of fuel as the government has not allowed them to raise prices in line with the increase in international crude oil prices that are racing toward 100 dollar a barrel. India imports nearly three-fourth of its crude oil requirements.
But IOC chief inspector Denis Oswald said there is still a lot to do with less than six months before the 2004 Games.
Under the partnership, IOC's rural petrol pump outlets -- Kisan Seva Kendras -- will act as the bank's Business Correspondents, HDFC Bank said in a statement.
The IOC has ruled out marking the 40th anniversary of the Munich massacre at the London Olympics opening ceremony but will visit the airfield where some Israeli team members were killed, it said on Saturday.
Franchise is the future but Australia rule the here and now
"The company is losing Rs 238 crore (Rs 2.38 billion) a day on retail fuel sales," Gyan Chand Daga, director ( marketing), IOC, said in Mumbai today. Oil marketing companies collectively lost around Rs 77,000-78,000 crore (Rs 770-780 billion) during last year, according to estimates. Retail prices of diesel and petrol were hiked in February for the first time since June 2006 to lower the burden of record crude oil costs on state oil refiners.
In a continued effort to thrust the ouster of jailed Indian Olympic Association president Suresh Kalmadi and his aides, Clean Sport India (CSI) has asked the international governing body to take necessary action against the tainted officials.
What is more surprising is that a surge in Russian oil supplies has come after the G7 imposed stringent sanctions on Moscow.
Russia must explain how it will implement its controversial anti-gay propaganda law and detail its impact on next year's Sochi Winter Games, Olympic president Jacques Rogge said on Friday.
