Beijing: A former official in central China's Henan province has been detained for allegedly raping more than 10 underage girls, local authorities said on Sunday. Li Xingong, former deputy director of the general office of the Yongcheng city committee of the Communist Party of China, confessed to having raped more than 10 girls during police interrogation, the city's publicity department said in a statement. The local authorities have ordered swift...
01:35 PM, May 27, 2012
New Delhi: The Supreme Court has issued notices to the Central Government, ONGC, Cairn Energy and Vedanta Resources on a petition that seeks criminal investigation and scrapping of the Cairn-Vedanta deal that has allegedly caused huge loss to ONGC. The government had approved the acquisition of majority stake of Cairn India by Vedanta. The petition was filed on the ground that the offer should have gone first to the state-owned...
04:20 PM, Apr 23, 2012
Mumbai: FMCG major ITC on Tuesday replaced Mukesh Ambani-led Reliance Industries Ltd (RIL) as the most influential stock on Indian bourses. Based on its weightage on the stock market's index Sensex, RIL slipped to the second position after ITC. At close on Tuesday, ITC grabbed the top slot in terms of Sensex weightage, which is measured by the value of a company's free-float or non-promoter shares that can be freely...
06:44 PM, Apr 17, 2012
New Delhi: China has once again warned India against exploring oil in the South China Sea. The warning came a day after China lost ground on the issue at the ASEAN summit that ended in Cambodia on Wednesday. The South China Sea dispute was discussed at the ASEAN summit despite Beijing's best efforts to block a discussion. India has two blocks in the South China Sea. One block was explored...
10:26 AM, Apr 05, 2012
New Delhi: Amid controversies related to coal block allocations and sale of government's stake in ONGC through auction route, Chief Economic Advisor Kaushik Basu on Friday said India is new to the art of auction and efforts are needed to improve the process. "India is new to this art of auction. So yes we will be learning. We will be improving on it and I am sure what we have...
05:35 AM, Mar 24, 2012
New Delhi: State-owned Oil and Natural Gas Corp (ONGC) on Friday said its profitability will be impacted by Rs 4,500 crore as Finance Minister Pranab Mukherjee raised cess on crude oil production. "The effect of increase in cess on crude oil (from Rs 2,500 per ton to Rs 4,500 per ton) is about Rs 4,500 crore annually," ONGC Chairman and Managing Director Sudhir Vasudeva said on sidelines of 7th Asia...
12:32 AM, Mar 24, 2012
New Delhi: Tata Steel has topped a list of India's 50 most admired companies, while four other companies from the steel-to-software conglomerate Tata group have also made to the first such rankings. However, the first such list for India, compiled by business magazine Fortune and global management consultancy Hay Group, has nearly half of the total 50 positions being occupied by the Indian units of the foreign companies. Tata Steel...
02:46 PM, Mar 06, 2012
New Delhi: Ratings agency Moody's on Monday said the result of the Government stake auction in ONGC has tarnished the image of the oil major. On March 1 the Government had auctioned 5 per cent of its stake in ONGC. "The result of the ONGC auction highlights how the Government's own weak finances and policies tarnish the perceived value of the companies it owns," Moody's said in a statement. Although...
08:47 PM, Mar 05, 2012
New Delhi: Two Indian companies - Tata steel and ONGC - have made it to a list of the world's most admired companies, compiled by management consultancy giant Hay Group and global business magazine Fortune. While the global rankings of the Indian companies were not known, the worldwide list has been topped by US-based technology giant Apple. While Apple has topped the list for the fifth consecutive year, it is...
07:07 PM, Mar 05, 2012
Mumbai: The government's failure to sell all of the shares in its $2.6 billion auction of a 5 per cent stake in Oil and Natural Gas Corp is an embarrassing setback in its effort to revive stock sales in state companies to trim a yawning fiscal deficit. The government's handling of the share sale, seen as a litmus test for its stalled privatisation agenda, was widely slammed as being aggressively...
01:47 AM, Mar 03, 2012
Mumbai: The BSE Sensex closed Friday's rangebound session with a moderate gain. Liquidity post ECB's second tranche of long term refinancing operation tried to keep the market buoyant, though concerns like rising oil prices that alleviated hopes of rate cuts in forthcoming monetary policy by RBI still persist. However, it was second consecutive weekly loss for the market, extended fall by 1.5 per cent this week after a 2 per...
09:15 AM, Mar 02, 2012
New Delhi: The whole ONGC auction confusion has taken its toll on the government's disinvestment plan as this was being seen a test case for more such deals. As a result the divestment of Oil India and heavy engineering goods firm BHEL have been put on hold. Heavy Industries and Power Enterprises Minister Praful Patel had earlier said that it would happen during the next fiscal. The government is looking...
07:55 AM, Mar 02, 2012
Finance minister Pranab Mukherjea said 98.3 per cent of shares on offer were subscribed. ...
12:03 AM, Mar 02, 2012
New Delhi: Terming the ONGC stake sale as "a great success", Finance Minister Pranab Mukherjee on Thursday said the government has raised Rs 12,666 crore from auction of its 5 per cent stake in the oil major. "It is a great success...Our latest figure (from auction of ONGC shares) is now Rs 12,666 crore, which comes to 98.3 per cent subscription," he told reporters here. He said auction route to...
11:45 PM, Mar 01, 2012
The Cabinet approves tougher punishment for traffic offences that includes a jail term of two years for rash and drunk driving. ...
10:51 PM, Mar 01, 2012
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