OVL to invest 1.5 billion in Iraq oil block
New Delhi: ONGC Videsh Ltd,the overseas arm of state-owned ONGC,may invest over 1.5 billion in exploring for oil in a block awarded to it by the erstwhile Saddam Hussein regime. The block is estimated to hold 645 million barrels of in-place reserves,of which 54 million are said to be recoverable.
India records highest domestic air flier growth
NEW DELHI: India recorded the highest domestic passenger growth this July at over 20 per cent,followed by Brazil at about 18 per cent,though the growth was slower for international air traffic.
Dr Reddys settles patent litigation with Pfizer
NEW DELHI: Ending nearly three years of litigation,drug firm Dr Reddys Laboratories has entered into a patent suit settlement agreement with Pfizer over the latters cholesterol lowering drug Lipitor.
Maruti Suzuki plans to start ops at Manesar
NEW DELHI: Amid an ongoing tussle with its workers at Manesar facility,the countrys largest car maker Maruti Suzuki India on Thursday said it may start operations of the second plant in the unit within next two days,thereby advancing it by almost a month.
R N Nayak assumes charge as PGCIL CMD
NEW DELHI: R N Nayak on Thursday took charge as the CMD of central transmission utility Power Grid Corporation of India PGCIL.
Indian economy wont grow over 8 this fiscal
NEW DELHI: Amid concerns over economic sluggishness,the Plan panel said India8217;s economic growth will not be more than 8 per cent this fiscal,much below the government8217;s projection of 8.5 per cent.