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Business Briefs

Cairn Energy to sell assets

New Delhi, Dec. 11: Scottish explorer Cairn Energy Plc today said it was in talks with Indian companies including Oil and Natural Gas Corporation for sale of some of its assets in the country. “We are in talks with Indian companies to share risk in some of our assets especially in deep water,” Cairn Energy India country manager Alan Linn said. He said Cairn was looking at taking partners to share oil exploration risk and if offered a “right price” may sell some of the assets.

FII fee halved

New Delhi, Dec. 11: Sebi has decided to halve the registration fees for foreign institutional investors (FIIs) to $ 5,000 and announced a slew of measures, including relaxation in processes for them as part of efforts to provide a further impetus to foreign investments in the country.

Apollo Tyres

New Delhi, Dec. 11: Apollo Tyres hopes to soon complete the takeover of the manufacturing assets of Modi Rubber Ltd and another truck tyre manufacturing company.

GlobalSoft plan

New Delhi, Dec. 11: Indian public shareholding in Bangalore-based Digital GlobalSoft has reduced to 13.98 per cent as on September 30 against 18.34 per cent six months ago.

Haldia Petro

Calcutta, Dec. 11: Haldia Petrochemicals Ltd is yet to give the mandate to a merchant banking firm for arranging Rs 300 crore from the market.

JPC report soon

New Delhi, Dec. 11: The final report of the JPC looking into last year’s stock scam and the temporary freeze on UTI’s US-64 scheme is likely to be presented in Parliament on December 19.

Galileo service

New Delhi, Dec. 11: Galileo India today launched Galileo View Trip on wireless. This is an extension of its View Trip functionality to internet or WAP-enabled services.

Cellnext launch

New Delhi, Dec. 11: Cellnext today launched independent Multimedia Messaging Service Centre (MMS-C) that brings rapid, reliable, cross network capability to application and enterprise messaging.


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