ONGC gets new chief

New Delhi, Oct. 3: The government today appointed Sudhir Vasudeva as the chairman and managing director of state-owned Oil and Natural Gas Corporation (ONGC). Vasudeva, 57, is currently director (offshore) in ONGC. The order for the appointment of Vasudeva was issued by the oil ministry late this evening, a top government official said.

FDI inflow

New Delhi, Oct. 3: India received foreign direct investment worth $2.83 billion in August, an over two-fold jump from $1.33 billion in August 2010, an official said. Foreign inflows had declined in July after a significant jump for two consecutive months in May and June.

Pantaloon plan

Mumbai, Oct. 3: Future Group firm Pantaloon Retail plans to raise up to Rs 1,500 crore by issuing equity-linked securities amounting to a stake dilution of not more than 15 per cent. Pantaloon said its board of directors, which met today, approved the raising of additional long-term funds.

RIM solution

New Delhi, Oct. 3: The telecom ministry’s technical team is testing the solution of interception given by smartphone BlackBerry maker Research In Motion (RIM). The ministry expects a report by the end of this month.