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Since 1st March, 1999
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Business Briefs

Oil import bill up by Rs 6000cr

Mumbai, April 6: The country’s oil import bill for fiscal 2002-03 is pegged at around Rs 84,000 crore, higher by Rs 6,000 crore compared with the previous year, Union minister for petroleum and natural gas, Ram Naik, said today. “The country imports about 70 per cent of its crude requirements and in fiscal 2002-03 the bill is estimated to have reached Rs 84,000 crore mainly due to increased volatility in international crude prices”, Naik said at the Energium 2003 exhibition here.

HPCL selloff

New Delhi, April 6: An inter-ministerial group meeting to complete the process of shortlisting of bidders for Hindustan Petroleum Corporation Ltd (HPCL), for which expressions of interest had closed last month, is likely to be held on April 10.

Jet Air plan

Mumbai, April 6: Jet Airways, which completes ten years on May 5, has decided to appoint Wolfgang P. Schaner from Austrian Airlines as chief executive officer and Peter Lethi from Swiss Airlines as chief operating officer, with effect from May 1.

Claridges stake

New Delhi, April 6: Businessman Suresh Nanda has forayed into the hospitality industry by acquiring 20 per cent stake in the Claridges chain of hotels. Nanda along with other foreign investors, who have 80 per cent stake, finalised the deal for Rs 96 crore after a series of discussions with the group’s shareholders.

DTH delay

New Delhi, April 6: Even after the government has given a go-ahead to Subhash Chandra’s ASC Enterprises for providing direct-to-home (DTH) television, it may take up to six months for the service to become operational.

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