New Delhi, Feb. 4: The Employees Provident Fund Organisation (EPFO) is likely to continue paying 8.5 per cent interest rate to its 4 crore subscribers. Labour minister Oscar Fernandes said the government had no plans to revise the interest rate of the EPFO scheme. EPFO, which offered 8.5 per cent interest to its subscribers at the end of fiscal 2007-08, is yet to decide on the rate for this fiscal.
New Delhi, Feb. 4: The government has issued bonds worth Rs 21,942 crore to oil marketing companies to compensate them for selling fuel below cost. IOC got bonds worth Rs 11,943.93 crore, BPCL Rs 5,316.71 crore and HPCL worth Rs 4,681.36 crore
London, Feb. 4: Aviva PLC, Europe’s biggest provider of life insurance and pensions products, is scrapping a £1 billion ($1.44 billion) special payout promised to about a million policy-holders last year.
Mumbai, Feb. 4: Voltas has acquired the entire stake of its Saudi joint venture partner in Saudi Ensas. “Voltas has completed the legal process involved in the transfer of a 51 per cent stake of the joint venture entity Saudi Ensas Company,” the company said.
Barmer, Feb. 4: Cairn India will invest $3.8 billion in developing the Rajasthan oilfields and laying a pipeline to transport crude oil. The company, along with its partner ONGC, will invest about $2.9 billion in developing the Mangala, Bhagyam and Aishwariya fields.
New Delhi, Feb. 4: Eicher Motors will start buying back shares worth about Rs 97.46 crore from March 12. The firm would purchase back 14.08 lakh shares at a price of Rs 691.68 each.
New Delhi, Feb. 4: India and France have agreed to bilateral cooperation in areas such as IT and telecommunications, energy, roads, urban development, railways and agriculture.
