Briefly Business

RIL mulls raising 1.5 billion loans

New Delhi: Reliance Industries is looking to raise up to 1.5 billion of overseas loans,largely to replace its existing higher interest borrowings. Sources said the energy-to-retail conglomerate was looking to raise the funds through dollar- denominated loans and has begun the process of finalising the syndicate banks for the same.

India-Africa trade may touch 70 bn by 2015

Addis Ababa: The two-way trade between India and Africa is expected to touch 70 billion by 2015 on increasing economic engagement. The economic partnership between India and Africa has taken giant leaps forward ever since the first India-Africa Forum Summit in 2008, said commerce and industry minister Anand Sharma.

GSPL bags gas pipeline projects from PNGRB

Gandhinagar: Gujarat State Petronet-led consortium has bagged a contract from Petroleum and Natural Gas Regulatory Board for laying three cross-country gas distribution pipelines. GSPL has received letter of authorisation from PNGRB for Mallavaram-Bhilvara,Mehasana-Bhatinda and Bhatinda-Jammu pipelines,estimated at Rs 12,500 crore.

Vedanta to raise 1.5 bn to fund Cairn deal

London/New Delhi: Vedanta Resources on Friday said it plans to raise up to 1.5 billion through private placement of bonds to part-finance its 9.4 billion acquisition of Cairn India. The company would also launch a global road show from May 23 for the bond placement.

Sebi settles case against B P Equities

Mumbai: Sebi has settled and passed a consent order in a case against BP Equities on payment of Rs 5 lakh for the companys alleged failure to exercise due diligence in conducting business as a broker. The case relates to allegations about BP Equities helping its clients to engage in circular trading. Sebi did not provide details regarding the clients.