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Business Briefs

Jet fuel price cut

New Delhi, Sept. 1: State-owned oil firms today cut jet fuel price for the second time in a month, in line with the softening of rates in the international markets. Aviation Turbine Fuel (ATF) price at Delhi’s T3 airport was cut Rs 429 per kilolitre (kl), or 0.75 per cent, to Rs 56,260 per kl from today, an official of Indian Oil Corp, the nation’s largest fuel retailer, said.

Maruti plan

New Delhi/ Manesar, Sept. 1: Amid an ongoing tussle with its workers at the Manesar facility, the country’s largest car maker Maruti Suzuki India today said it aimed to start operations of the second unit in the plant within the next two days, thereby advancing it by almost a month.

OVL Iraq block

New Delhi, Sept. 1: ONGC Videsh Ltd (OVL), the overseas arm of state-owned Oil and Natural Gas Corp, may invest over $1.5 billion in exploring oil in a block in southern Iraq that was awarded to it by the erstwhile Saddam Hussien regime.

Lipitor case

New Delhi, Sept. 1: Drug firm Dr Reddy’s Laboratories has entered into a patent suit settlement agreement with Pfizer over the latter’s cholesterol lowering drug Lipitor, ending nearly three years of litigation.

MTS launch

New Delhi, Sept. 1: Sistema Shyam TeleServices (SSTL), which offers services under the MTS brand, today announced the launch of a faster version of its broadband service MBlaze, priced at Rs 2,499 and offering speed of up to 9.8 Mbps.

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