The Telegraph
Since 1st March, 1999
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Business Briefs

ONGC finds oil in Assam

New Delhi, Nov. 26: Oil and Natural Gas Corporation (ONGC) has discovered new reserves of oil in Assam, said chairman and managing director Subir Raha. “New oil bearing zone has been discovered in upper Assam. The results are very encouraging and the reserves are promising,” he said. The well, Chang Maigaon-14, had flowed oil at the rate of 74 cubic metres per day. Separately, ONGC has also struck oil and gas in Godavari shallow offshore block GS-KW in Bay of Bengal and Broach block in Cambay basin in Gujarat.

Trai note

New Delhi, Nov. 26: Trai today took cognisance of alleged blocking of calls of private telecom operators like Reliance and Tatas by Bharat Sanchar Nigam Ltd and asked all operators to maintain “status-quo” till interconnection norms are announced. BSNL, however, denied it was blocking any calls.

New-look Taj

New Delhi, Nov. 26: Tatas-owned Taj Group of hotels has launched a major upgradation programme of its business hotels both in India and overseas, which will be completed in three phases.

Bilt infusion

New York, Nov. 26: The International Finance Corporation (IFC), the private sector arm of the World Bank group, will invest $15 million in $45 million foreign currency convertible bonds issued by Ballarpur Industries Limited, India’s largest producer of writing and printing paper. This is IFC’s first-ever bond of its kind in the country.

Tata Indicom

Mumbai, Nov. 26: Tata Indicom today announced up to 50 per cent cut in tariffs for calls originating from New Delhi and Mumbai to key overseas destinations, including the US, Europe and the Far East.

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