Aviva tries a new tool with Sachin Tendulkar to grab a bigger share of the life insurance market.
On his first visit to India after taking over as BP Plc Chief Executive Officer (CEO), Bob Dudley met Prime Minister Manmohan Singh, but what the CEO of the most talked petroleum company of the year did in his less than a day trip was to present "his credentials".
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.
ONGC sought opinion from the second highest law officer of the country after its partner Cairn Energy Plc stated that the UK firm's sale of majority stake in Cairn India to Vedanta Resources will not trigger pre-emption rights of the state- owned firm, a top oil ministry official said.
ONGC, which is a 30 per cent partner with Cairn India in the giant Rajasthan oil field, had claimed that it had preemption or right of first refusal in Cairn India assets, like the Rajasthan block.
State-owned Oil and Natural Gas Corp has bid for Russia's Trebs and Titov oilfields and is pitted against local giant LukOil and a venture owned by energy major BP Plc for rights to develop the giant reserves.
Cairn Energy Plc's deal to sell a majority stake in its Indian arm to Vedanta Resources for up to $8.48 billion is contingent upon the billionaire Anil Agarwal-led group completing an open offer to minority shareholders of Cairn India, a senior official said.
Market regulator SEBI has not yet approved the open offer made by Vedanta Group to Cairn India shareholders, even as the target company formed a two-member panel to look into the offer made to minority shareholders.
The company sent the reminder on September 10, ONGC said in a filing to the Bombay Stock Exchange. Vedanta is offering $8.48 billion to buy up to a 51 per cent stake in Cairn India, which has 10 oil assets in the country, including the giant Rajasthan oilfield.
While UK's Vodafone Group fights its tax liability in courts, British firm Cairn Energy Plc on Wednesday said it will pay all taxes due, both in India and the United Kingdom, on the $8.48 billion sale of a majority stake in its Indian arm to Vedanta Resources.
Burger King Holdings Inc is in talks with private-equity firms like 3i Group Plc over a possible sale of the second-largest hamburger chain, says a media report.
The UK-based Cairn Energy on Monday said it will sell 51 per cent stake in its Indian unit to mining firm Vedanta Resources Plc for $8.48 billion.
The deal, as well as some other strategic and financial investments in works, will help Ambani cut debt at RIL.
GlaxoSmithKline Plc's anti-migraine drug brand, Imitrex, is turning out to be a good revenue earner for Indian generic companies.
Vodafone Group Plc Chief Executive Vittorio Colao today said the company could list its Indian arm and was open to acquisitions when opportunities are available in the country. The head of the world's largest mobile company in terms of revenues suggested changes in the regulatory regime for mergers and acquisitions.
India on Thursday won Vietnam's support for its bid for crisis-hit BP Plc's energy assets in the South Asian country, as Hanoi stressed BP must give priority to its partners in the stake sale.
Oil Minister Murli Deora flew into the Vietnamese Capital this morning with heads of bluechip Indian oil firms to lay a claim with Hanoi on BP's stake in two offshore gas fields, a pipeline and power project -- together referred as Nam Con Son, Vietnam's largest gas project.
The Royal Bank of Scotland Group Plc has been fined 28.59 million pound by the Office of Fair Trading (OFT) for breaching competition laws by some of its employees, who handed over price sensitive information to a rival.
State-owned Indian Oil Corp and Oil India Ltd on Tuesday confirmed making an 'approach' to take over the Middle-East focussed oil firm Gulfsands Petroleum Plc for an undisclosed cash amount.
Battling one of the worst oil spills in decades, British energy major BP Plc has so far shelled out $3.5 billion towards containing the disaster.
The exploration company will buy back shares from January 23 and extinguish them.
Warning that expenses could escalate, the oil major pointed out that it is too early to quantify other potential costs and liabilities associated with the incident.
BP Plc, the British energy company, has joined the race to acquire a majority stake in Canadian oil-sand major, Value Creation, with an offer of $1.2 billion. Though the offer is less than Reliance Industries' $2-billion acquisition proposal, given on February 5, agencies reported that BP might set up a joint venture with the Canadian group, and increase its oil-sand holdings by as much as 50 per cent.
BlackRock Inc has executed a purchase agreement to acquire Barclays Global Investors, including its market leading ETF platform, iShares, from Barclays Plc, the company said. The transaction would create an independent and fully integrated asset management firm named 'BlackRock Global Investors' with combined assets under management of over $2.7 trillion, bringing together market leaders in active and index strategies.
The Indian firms will develop the Carabobo-1 block in Venezuela's Orinoco Belt with Spain's Repsol YPF SA and Malaysia's Petroliam Nasional Bdh, ONGC said.
The survey report, titled Opportunities For UK Plc In Emerging Cities In India, also ranks eight other cities -- Ahmedabad, Chandigarh, Jaipur, Goa, Indore, Kochi, Nagpur and Vadodara -- as the most conducive destinations for UK investments in India. While its annexure lists 41 cities in the survey's ranking -- with Pune holding the top rank and Ranchi getting the lowest rank -- it provides a detailed study of nine cities that merit UK investment the most.
Sachin Bansal, who had co-founded Flipkart with Binny Bansal in 2007, would exit the company
Standard Chartered Plc's Rs 2,760-crore (Rs 27.60 billion) maiden Indian depository receipt (IDR) issue got a robust demand from investors on the final day of the offer on Friday and got subscribed a good 2.19 times with most of the bids coming in from qualified institutional buyers (QIBs).
Overseas investors questioned the difference between the net asset value of Unitech's Alternative Investment Market-listed Unitech Corporate Parks Plc fund and what the traded price of the units reflected. Company sources, however, maintained that investors were merely seeking information to understand the variance between the NAV of the fund, which was about 140 pence, and what its unit's trading price of 11.5 pence reflected.
The group had reported a loss of pound 338 million in the previous fiscal due to its write-offs for its acquisition of Borsa Italiana SpA.
The price offered is about a quarter of the value set by the govt in an auction that was scheduled for March 2013 but never took place.
The country will be the new battleground for the world's largest and second largest food companies
A majority of shareholders of the British confectioner Cadbury Plc have rejected the initial hostile takeover bid from Kraft Foods Inc.
ONGC-Mittal Energy Ltd -- joint venture of ONGC Videsh Ltd and Mittal Investment Sarl -- had in 2007 won the offshore block North Coast Marine Area-2 (NCMA-2), that is estimated to hold in-place reserves of two trillion cubic feet, beating Britain's Centrica Plc.
Former Telecom Minister Dayanidhi Maran, his brother Kalanithi Maran and four others were on Friday chargesheeted by the Enforcement Directorate in the Special 2G court.
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In the process, Vodafone India's valuation rose 48.39 per cent since February 2012, when Piramal Enterprises bought 5.5 per cent stake in Vodafone India for Rs 3,007 crore (Rs 30.07 billion).
The Indian mobile market has been witnessing a rate war with the entry of new players
Aiming for a work culture that helps balance work and family responsibilities, every three in five Indian companies plan to hire more mothers on a part-time basis over the next 24 months, a survey says.
The rating affirmation reflected RIL's strong business profile - a large-scale refinery with a capacity of around 1.2 million barrels a day and dominant market position in petrochemicals.
Fifty-seven per cent of workers in the corporate sector in India reported an increase in stress over the last two years, a survey has said.
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