Briefly Business

A CBI team has left for Mauritius and the United States to probe alleged diversion of funds by disgraced Satyam founder B Ramalinga Raju to these countries.

CBI team leaves for US for Satyam probe

New Delhi: A CBI team has left for Mauritius and the United States to probe alleged diversion of funds by disgraced Satyam founder B Ramalinga Raju to these countries. Funds were re-routed back to India via European countries as investments in nearly 300 alleged fictitious companies floated in the name of his relatives,official sources said.

NELP non-bidding for technical reasons: BP

New Delhi: British giant BP Plc has said it did not bid for NELP-VIII purely on technical assessment of blocks on offer,an apparent rejection of theories that top energy firms did not bid for Indias largest licensing round because of oil ministry policies. 8220;This decision not to bid in 8th round of New Exploration Licensing Policy was taken purely on the basis of the technical assessment of the blocks on offer,8221; BP Plc Managing Director Robert Dudley wrote to Petroleum Minister Murli Deora.

Lloyds to raise 23 bn pounds via equity

London: British banking major Lloyds is planning to raise 23 billion pound by way of debt and equity to bolster its balance sheet which is under pressure following acquisition of troubled mortgage lender HBOS,a media report says. The controversial 23 billion pound fund raising,being finalised this weekend,will be one of the biggest seen in London, the Sunday Times said.

India Inc sees high attrition in downturn

New Delhi: India Inc continues to see a double-digit attrition rate,this time of 13.8 per cent the highest in Asia Pacific region despite economic uncertainty,says a survey. As per global HR consultancy Hewitt Associates annual Asia Pacific Salary Increase survey for 2009-10,most Asian companies have continued to experience double-digit voluntary employee turnover rate amid the economic downturn.

PFRDA scouts for NPS distribution centres

New Delhi: To increase the distribution network of the pension system thrown open to all citizens of the country,interim pension regulator PFRDA is looking for more contact and collection centres for accepting contributions from the subscribers. PFRDA now wishes to expand the Points of Presence PoPs network by appointing more entities as PoPs, it said while inviting proposals from interested parties.

No amnesty to bring back black money: FM

New Delhi: India wants a comprehensive double taxation treaty with Switzerland to check the stashing of money by Indians in banks there but there would not be any voluntary disclosure scheme for such individuals,Finance Minister Pranab Mukherjee said.

EGoM meet on Oct 27 over KG-D6 allocation

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New Delhi: An Empowered Group of Ministers headed by Finance Minister Pranab Mukherjee will on Tuesday consider allocating natural gas produced by RIL among new users in sectors such as power but may not give any fuel for the companys petrochemical plants and refineries.