Briefly Business

ADAG-promoted Reliance Capital was ranked the topmost retirement fund manager overall by the EPFO for providing good returns and investing money in quality assets....

Rel Cap top fund manager of EPFO

NEW DELHI: ADAG-promoted Reliance Capital was ranked the topmost retirement fund manager overall by the EPFO for providing good returns and investing money in quality assets,while the state-owned SBI finished at the bottom. HSBC AMC and ICICI Pru AMC,which are the two other retirement fund managers,have been ranked second and third respectively for their performance during the nine-month period ending December 2009,as per EPFO analysis.

Luthra amp; Luthra bag IFLR Asia award

New Delhi: Law firm Luthra amp; Luthra Lamp;L was awarded the IFLR 2010 Asian awards in Hong Kong on Thursday. Lamp;L was the only Indian law firm to have been nominated in two categories project finance and equity linked deal. MD Rajiv K Luthra said,This award is the restatement to the L amp; L spirit. Despite the fact that 2009 witnessed a global downturn,we managed to make it our most successful year yet.

Essars blocks hold gas worth over 4 bn

NEW DELHI: Essar Oils coal bed methane CBM blocks hold about 7 trillion cubic feet tcf of recoverable gas resources,more than double the previous estimate,which may be worth over 4 billion at current prices. Essars exploration and production business is set to become a major wealth creator for Essar Oil, the company,which engaged independent consultants to assess reserves in the acreage it holds,said.

30 mn Exim Bank credit to Sierra Leone

MUMBAI: Export Import Bank of India has extended a Line of Credit LOC of 30 million to the government of Sierra Leone for financing rehabilitation of existing facilities and addition of new infrastructure to supply potable water to six districts in Sierra Leone. Exim Bank will reimburse 100 per cent of contract value to the Indian project exporters,upfront upon the shipment of goods/ provision of services. This facility is the second line of credit by Exim Bank to Sierra Leone.

Hondas second 2-wheeler unit in Raj

JAIPUR: Honda Motorcycle amp; Scooter India Pvt Ltd HMSI will set up its second plant in Rajasthan at an investment of Rs 1,100 crore with an installed capacity to produce 12 lakh units per annum. Keeping in view the economic and financial environment of the state,the Cabinet has granted its approval for granting a customised package to the company HMSI, a top government official said.

Probe on RPL insider trading charges

NEW DELHI: Market regulator Sebi will further look into trading of shares of Reliance Petroleum Ltd RPL,which is now part of Reliance Industries,for alleged insider trading during November 2007,Parliament was informed on Friday. Sebi had initiated an investigation into trades carried out in RPL scrip to identify possible violation under various regulations,MoS for finance Namo Narain Meena said.