India is sending a shipment of diesel and petrol to Sri Lanka to help alleviate the country's energy crisis amidst regional instability.
Sri Lankan President Anura Kumara Dissanayake has announced an economic relief package to mitigate the impact of the West Asia conflict, including fuel price reductions and support from India for petrol and diesel supplies.
Private bus operators in Sri Lanka warn of potential service disruptions and a nationwide strike due to significant fuel price increases, impacting public transport and raising concerns about inflation.
The initial public offering of the Sri Lankan unit of Indian Oil Corp was oversubscribed more than three times. "The IPO raised (Sri Lankan) Rs 359.99 crore (Rs 3.59 billion)," company officials said.
The country's largest refiner Indian Oil Corp is planning an initial public offer of its Sri Lankan subsidiary Lanka IOC by June this year to raise between $20-25 million.
Public sector oil giant Indian Oil Corporation is investing $100 million in its Sri Lankan subsidiary Lanka IOC Ltd during 2004-05 as part of its retail foray in the island country.
Cash strapped Sri Lankan unit of Indian Oil Corporation on Tuesday announced it will not replenish stocks unless the Sri Lankan government moved to settle a disputed Rs7.44-billion subsidy claim.
The Indian Oil Corporation's attempt to raise $35 million for its Sri Lanka operation has been a huge success with the company's initial public offering being oversubscribed by over six times.
Modi said that the ocean economy held 'enormous promise'.
They weren't up for a windfall even after the trophy but life was certain to get a lot better as some sponsors and state governments stepped up to lift them financially.
'Cricket has always united us, and now, it's part of the Olympic movement! On this #OlympicDay, let's celebrate the power of sport to inspire, connect, and uplift'
The much-debated idea of a two-tier Test system, expansion of the T20 World Cup and ratification of new members are some of the topics that will be discussed in depth during the four-day AGM of the International Cricket Council.
Cricket will make a triumphant return to the Olympics at the 2028 Los Angeles Games after a 128-year absence, with six teams vying for top honors in both the men's and women's competitions. The sport was last featured in the 1900 Paris Olympics. The qualification process for the 2028 Games is yet to be confirmed, but the USA, as host nation, is likely to receive a direct spot, leaving five qualification places up for grabs.
Sri Lanka will re-acquire 99 World War II-era oil storage tanks leased to Indian Oil Corporation in the eastern port district of Trincomalee, Energy Minister Udaya Gammanpila announced on Wednesday.
Sri Lanka has signed a deal with Indian Oil Corp to sell retail petrol stations to the firm and lease fuel storage tanks in the east of the island.
Sri Lanka may extend its contract with Indian Oil Corporation for import of diesel and jet fuel during February-April.
Banks and companies in India are taking a cautious approach towards Sri Lanka, which, reeling from a financial crisis, has sought a $1-billion loan from the country to import essential commodities. A senior State Bank of India (SBI) executive said the bank was committed (to Sri Lanka) for the long term. "As far as exposures (are concerned), the bank will be cautious on its dollar exposure to Sri Lankan entities till the situation improves," he said.
Sri Lanka on Thursday signed an agreement with India to jointly redevelop the strategic World War II-era oil tank farm in the island nation's eastern port district of Trincomalee, in a new milestone in bilateral economic and energy partnership.
The country's largest marketer of petroleum products is facing troubles in Sri Lanka, one of the two overseas markets where it sells fuel through its fully owned subsidiary, Lanka IOC. The other country is Mauritius.
Boxing's already uncertain Olympic future was thrown into further jeopardy after the sport's Asian governing body voted against leaving the suspended International Boxing Association (IBA) to join the rival association.
The country's largest refiner Indian Oil Corporation will pay $75 million for acquiring 100 petrol stations and storage facilities in Sri Lanka.
Indian Oil Corporation Ltd sank deeper into the red with losses amounting to Rs 1.2 billion, as Colombo is yet to repay billions for selling fuel below costs.
Indian Oil Corp, the country's largest oil firm, has opened its first petrol station in Mauritius, making it the second country after Sri Lanka where IOC has begun fuel retailing outside India.
After Indian Oil Corporation, state-run Bharat Petroleum Corporation is planning to take over petrol stations in Sri Lanka, company chairman and managing director S Behuria said on Friday.
SAARC nations, including Bangladesh, Pakistan, Sri Lanka and Nepal are projected to have a fuel deficit of 17.05 million tons by 2015 and 20.85 million tons by the year 2020. IOC has said if the SAARC countries accept a long-term tie up with IOC for the supply of petroleum products, it can suitably expand some of its existing refineries to meet their requirement on mutually agreed terms based on international prices.
Nikhat Zareen and Lovlina Borgohain will look to find their footing in new weight categories with the 2024 Paris Olympic Games approaching.
To be second Indian company after Essar to have a refinery abroad
A pregnant Sri Lankan woman, who had been in a queue for two days to obtain a passport to leave the crisis-hit country for employment overseas, went into labour while waiting for her turn on Thursday and delivered a baby girl.
Lines up a $1-billion capital expenditure plan for exploration purposes abroad.
The Cabinet has approved a framework of understanding on cooperation in hydrocarbons with Bangladesh recently.
'Random displays of anger will end in punishment from the IOC and the loss of points in the World Cup, without achieving what we seek,' says Aakar Patel.
After dropping Chinese sportswear company Li Ning as India's Olympic kit sponsor, Sports Minister Kiren Rijiju on Wednesday said the country's athletes will not wear branded apparel in the upcoming Tokyo Games even as the Indian Olympic Association (IOA) claimed that the search is on for a new partner.
Cricket, a sport dominated by Britain and former British colonies such as Australia and India, has only once featured in a Games - in Paris in 1900.
With the ever increasing threat of corruption in the game, Richardson said the ICC's Anti-Corruption Unit (ACU) has gone on an overdrive to curb the menace.
A summary of sports events and persons who made news on Friday
The unprecedented shutdown of world sport in response to the coronavirus spread that has infected more than 134,000 people and killed around 5,000 also prompted organisers to postpone the Formula One motor races in Vietnam and Bahrain. The start of the lucrative Indian Premier League has also been postponed until April 15 as a "precautionary measure", the Board of Control for Cricket in India said.
'In order to achieve Pakistan's psychological isolation and pariah status, breaking all cultural, economic and people to people contacts must become a government policy with clear linkage to a change in behaviour by the Pakistani regime.'
