The Telegraph
Since 1st March, 1999
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Business Briefs

Cairn strikes again

Hazira, Sept. 19: Cairn Energy of UK has again struck oil in Barmer basin of Rajasthan, petroleum minister Ram Naik said today. Cairn struck oil in Rajasthan onland block RJ-on-90/1 in Barmer basin, in which it holds 100 per cent stake. Exploration prospect D, located approximately 33-km south east of the 70-million-tonnes Saraswati discovery, encountered presence of hydrocarbons.

Telecom meet

New Delhi, Sept. 19: The department of telecom has circulated a detailed position paper on telecom issues to be considered by the group of ministers at its first meeting on September 25.

Birla Sun plan

New Delhi, Sept. 19: Birla Sun Life Mutual Fund, which manages assets over Rs 9,000 crore, is eyeing acquisition and targets to grow by over 30 per cent this fiscal, said Paras Adenwala, chief of equity at Birla Sun Life MF.

PNB move

Mumbai, Sept. 19: Punjab National Bank board has approved a plan to invest Rs 25 crore in the units of Leverage India Fund managed by IL&FS Investments Managers Ltd.

MS board

Seattle, Sept. 19: Microsoft Corp. is expanding its board by inducting Helmut Panke, head of BMW and Charles H. Noski, former AT&T vice chairman. Panke would be the first Microsoft board member from outside the US.

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