RIL set to seal deal
New Delhi, Aug. 21: Reliance Industries Ltd (RIL) is likely to close its $7.2-billion deal to sell stake in 21 oil and gas blocks to UK’s BP plc in the next 7-10 days. With the government formally communicating its approval for sale of a 30 per cent stake in the 21 blocks, the closing documents are likely to be signed before the end of the month, sources said.
New Delhi, Aug. 21: The government has notified exports of additional five lakh tonnes of sugar. This is over and above the extra 5 lakh tonnes agreed upon by the empowered group of ministers, headed by finance minister Pranab Mukherjee, on August 12.
Washington, Aug. 21: The government could take several months before it gives the green signal to foreign direct investment in multi-brand retail, allowing global chains to open stores in the country, the latest report of the US agriculture department said.
Calcutta, Aug. 21: Top business process outsourcing (BPO) companies in the country posted a total revenue of Rs 32,246 crore in 2010-2011 with NYSE-listed Genpact leading the pack at Rs 5,680 crore.
New Delhi, Aug. 21: Private equity and venture capital funds should be allowed to invest 25 per cent of the capital of the target companies, up from the existing limit of 15 per cent, without having to resort to an open offer, industry body CII said in a report.