Briefly Business

Reliance Industries has become the largest natural gas producer in the country with its over 50 million standard cubic meter per day...

RIL beats ONGC,is largest gas producer

New Delhi: Reliance Industries has become the largest natural gas producer in the country with its over 50 million standard cubic meter per day mmscmd output surpassing state-run Oil and Natural Gas Corps output. RILs gas production from its D6 fields in the Krishna Godavari basin on Sunday touched 50.15 mmscmd,according to the regular output report RIL sent to the oil ministry. RIL is now the countrys largest gas producer, a ministry official said.

Indo-China trade expo in city

MUMBAI: The China Products Mumbai India Exhibition,the biggest platform for Indian and Chinese entrepreneurs to interact with each other,will be held in Mumbai for the seventh time from December 10-12,2009. This global,annual event facilitates striking of deals,joint ventures and signing of major contracts between Indian and Chinese businessmen. The 3-day event which saw 40,000 visitors from across Asia in the previous years resulted in business deals worth about Rs 70 crore. This is likely to go upto Rs 100 cr this year, a statement said.

Nestle mulls takeover of Speciality nutri biz

Mumbai: FMCG major Nestle on Monday said its board of directors,in a meeting scheduled to be held on December 9,would consider the acquisition of nutrition business of Speciality Foods India Pvt Ltd. A meeting of the Board of Directors will be held on December 9 to consider the proposal of Speciality Foods India Pvt Ltd for a possible acquisition of its healthcare nutrition business by Nestle.

Glenmark Pharma to repay Rs 300-cr debt

Mumbai: Pharma major,Glenmark Pharmaceuticals is planning to repay its debt of around Rs 300 crore by end of this fiscal,a top company official said. We will repay our debt of around Rs 300 crore during the third or fourth quarter of this financial year, Glenmark CEO and MD Glenn Saldanha told reporters on the sidelines of a pharma summit. The companys present debt is around Rs 1,650 crore,he said.

BoI cuts deposit rates on select tenures

Mumbai: Bank of India BoI,has said it has reduced deposit rates by 0.25 per cent on select tenures. For deposits less than Rs 15 lakh with a maturity of 180 days to 269 days,the rate has been reduced to 5.75 per cent from 6 per cent while,for 270 days to 364 days,it stands reduced from 6.25 per cent to 6 per cent.

Dubai crisis not to hit India growth: Montek

New Delhi: The Dubai financial crisis will not impact Indias high economic growth as the countrys exposure to the debt-ridden Dubai World is limited,said Planning Commission Deputy Chairman Montek Singh Ahluwalia. My understanding is that Indias exposure to Dubai World is very low8230; I dont think that Indias high growth would be affected by the Dubai crisis, he told reporters here.