PetroMin proposes 33 pc hike gas price New Delhi: The Petroleum Ministry has proposed a 33 per cent hike in the price of natural gas produced by ONGC and Oil India and gradually increase it to $4.20 per mmBtu set for gas from Reliance Industries' KG-D6 fields. The ministry has circulated a Cabinet note for raising price of gas under administered pricing mechanism from Rs 3,200 per thousand cubic meters ($1.8 per mmBtu) to Rs 4,250 per thousand cubic meters ($2.4 per mmBtu). TCS,Dow Chemicals expand,create jobs Mumbai: Indias largest software services exporter Tata Consultancy Services today said it will expand its strategic business alliance with US-based Dow Chemicals that will create new jobs in Midland-Michigan. Dow Chemical and TCS plan to form an innovative business alliance that will provide critical business services to Dow,its subsidiaries and joint ventures, TCS said in a filing to the Bombay Stock Exchange. Foreign airlines can add capacity New Delhi: With the peak tourist season on the anvil,a new rule has come into effect to allow foreign airlines to mount additional capacity of up to 10 per cent of their entitlements during periods of high air traffic. The fresh guidelines,issued by the Directorate General of Civil Aviation,also do away with the right of national carrier Air India to issue a no-objection certificate to clear the extra flights which fall under bilateral entitlements,official sources said. BPO market to touch $6.82 bn by 2013 New Delhi: According to a report by IT research firm IDC India,the country's domestic BPO market,with nearly 500 players,will grow at a CAGR of 33.3 per cent to touch revenues of $6.82 billion by 2013,up from $1.62 billion in 2008. SEC of US bars Mohit Khanna New York: The US market regulator Securities and Exchange Commission has barred an Indian-origin person Mohit Khanna,who was allegedly running a Ponzi scheme and defrauded investors,from associating with any broker or dealer in the market. The regulator,in its complaint,alleged that Khanna,owner and CEO of a wealth management firm,had made false and misleading statements in an unregistered offer and sale of shares of his firm MAK 1 Enterprises from 2003 to August 2009 and promised inflated and gyrated returns. Cox & Kings IPO price band at Rs 316-330 Mumbai: Leading tour and travel operator Cox and Kings today said it has fixed the price band for initial public offer between Rs 316 and Rs 330 per share. The tour and travel operator expects to mop-up around Rs 610 crore from the issue to fund its expansion.
