New Delhi, Oct. 4: Iran has trimmed ONGC and Hinduja Group’s promised 60 per cent stake in the phase-12 of the South Pars gasfield in the Persian Gulf, sources said. Iran had identified South Azadegan oilfield and South Pars phase-12 gasfield for the ONGC and Hinduja combine, but in the past 21 months virtually no progress was made. The South Azadegan oilfield was awarded to China last week.
New Delhi, Oct. 4: The government may soon allow the Employees’ Provident Fund Organisation to purchase government-backed bonds with a maturity period of more than 10 years from the secondary market. The decision will have positive implications for the money market by raising the demand for such bonds.
Mumbai, Oct. 4: Jet Airways has initiated discussions with foreign carriers to lease out two of its wide-body airplanes. “We are in discussions with Oman Air and Etihad for leasing out two of our Boeing 777 aircraft,” airline sources said. Jet is looking for wet leasing of the planes for at least six months and a decision is likely to be taken very soon, sources added.
Mumbai, Oct. 4: The country’s foreign exchange reserves fell to $279.91 billion for the week ended September 25 compared with $280.77 billion in the previous week. The foreign currency assets declined to $263.49 billion, falling $855 million from $264.35 billion the week before.
New Delhi, Oct. 4: Panasonic India is aiming to increase its contribution to the parent’s global business ten-fold within five years as it expects to double its sales to Rs 4,500 crore this fiscal. The company is currently focusing on local production and opening a research centre.
New Delhi, Oct. 4: Max Healthcare’s four new hospitals will start operations by 2011. The hospitals will add another 1,200 beds to its total capacity. They are coming up in Delhi, Dehradun, Mohali and Bhatinda.
New Delhi, Oct. 4: Fertiliser co-operative Iffco along with Jordan Phosphate Mines Company will invest $625 million to set up a phosphoric acid plant in Jordan.
