Briefly Business

With advertisers hard to come by,oil PSUs have been roped in to bailout public broadcaster Doordarshan

CWG: Oil PSUs promise ads to Prasar Bharti

NEW DELHI: With advertisers hard to come by,oil PSUs have been roped in to bailout public broadcaster Doordarshan 8211; the official telecaster of the 12-day Commonwealth Games. ONGC,IOC and other state-owned oil firms will buy air-time worth Rs 10 crore during telecast of the Games between October 3 and 14,sources in know of the development said.

India,Canada trying to resolve FIPPA issues

TORONTO: India and Canada are trying to resolve differences over the proposed investment protection agreement while negotiations on a trade opening pact are underway,visiting commerce and industry minister Anand Sharma has said. The proposed investment protection agreement would safeguard investors8217; rights and the free trade agreement would boost 3.2 billion bilateral commerce.

DGH disallows RIL discovery

NEW DELHI: In a surprise development,oil regulator DGH has disallowed a natural gas discovery that Reliance Industries made in Krishna Godavari basin,saying the Mukesh Ambani-run firm had failed to give pior notice for conducting tests to confirm the find.

Ashoka Buildcon IPO subscribed 90 pc

NEW DELHI: Ashoka Buildcon8217;s initial public offer was subscribed 90 per cent by end of the first day of issue on Friday,with maximum bids coming in from non-institutional investors. The issue,through which the company aims to garner up to Rs 225 crore,received bids for 56.13 lakh shares,against 62.18 equities on offer,thus getting subscribed 90 per cent,as per NSE data.

Legal tussle wont affect US launch: Mamp;M

NEW DELHI: Despite fighting a legal battle with its erstwhile sole US distributor,Mahindra amp; Mahindra believes that its plans to introduce pick-up trucks in the American market will go ahead as scheduled. Mahindra will endeavour not to allow this dispute and the changed business circumstances to affect its plans to introduce its vehicles to the United States, the company said in a statement.

FX reserves rise to touch 287.734 bn

New Delhi: Indias foreign exchange reserves rose to 287.734 billion as on September 17,from 284.5 billion in the previous week,the Reserve Bank said in its weekly statistical supplement on Friday. Changes in foreign currency assets,expressed in dollar terms,include the effect of appreciation or depreciation of other currencies held in its reserves such as the euro,sterling and yen,the Reserve Bank said.

Aug oil product sales dip 0.3PC,says govt

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New Delhi: Domestic oil product sales declined an annual 0.3 in August,it first dip since March this year and compared with a 2 growth the previous month,as monsoon rains slackened demand for diesel,government data showed on Friday. Oil product sales totalled 10.8 million tonne in August.