Briefly business

An Empowered Group of Ministers headed by Finance Minister Pranab Mukherjee is likely to meet on May 21 to decide on freeing...

EGoM may meet on May 21 on fuel pricing

New Delhi: An Empowered Group of Ministers headed by Finance Minister Pranab Mukherjee is likely to meet on May 21 to decide on freeing petrol and diesel prices from government control. The ministerial panel will also decide on ways to deal with the revenue lost on selling domestic LPG and PDS kerosene below cost,an official in know of the development said. The EGoM meeting has been tentatively scheduled for May 21, he said.

Bajaj Allianz ties up with Dena Bank

NEW DELHI: Private sector insurer Bajaj Allianz Life Insurance has signed an agreement with public sector lender Dena Bank for the distribution of its insurance products. As per the agreement Dena Bank will distribute Bajaj Allianz Life Insurances group life insurance product Sarva Shakti Suraksha through the branches.

ICICI Lombard FY10 net profit at Rs 144 cr

NEW DELHI: ICICI Lombard General Insurance has reported a profit after tax of Rs 144 crore for the year ended March 31,2010. The private sector general insurer had a net profit of Rs 24 crore in the previous fiscal 2008-09. On a year-on year,the gross written premium of the insurer dropped to Rs 3,694.7 crore at the end of FY10,from Rs 3,749.2 crore in the year-ago period. During the year the company issued over 44 lakh policies compared to 40 lakh issued in FY09.

SC ruling positive for RIL,sector: Moodys

New Delhi: The global rating agency Moodys has said last Fridays Supreme Court ruling on gas pricing will have positive impact not only for Reliance Industries but also on the countrys energy sector. Last Friday,the Mukesh Ambani-owned Reliance Industries RIL emerged victorious in a long-drawn legal battle with his younger brother Anil Ambani-run Reliance Natural Resources RNRL.

SEBI to allow currency options soon

New Delhi: Market regulator Securities and Exchange Board of India has said it would allow more currency derivatives products beginning with options soon. It is almost near final stages of deliberation on currency options introduction. So it can come at any time, SEBI whole-time member K M Abraham said on the sidelines of an event organised by industry body Assocham. SEBI had launched currency derivatives in India in August,2008,a month before the financial crisis hit the world.

Sebi wants listed cos results displayed

Mumbai: Market regulator SEBI has asked stock exchanges to display annual reports of listed companies on their websites for financial year 2009-10 onwards,a move that could help investors take informed decisions. All Stock Exchanges are advised to make the annual reports for the financial year 2009-10 onwards8230; available on their respective websites, Securities and Exchange Board of India said in a circular.