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| RIL in production sharing contract
with Timor Leste Republic NEW DELHI, Nov 17: Mukesh Ambani’s Reliance Industries Ltd today announced that it has entered into a production .........more Sealing will not affect normal functioning of ASSOCHAM: Rawat NEW DELHI, Nov 17: Sealing of the backend office of the Assocham in south Delhi under the ongoing MCD drive would not affect the .......more Further rise Instanex Skindia DR Index MUMBAI, Nov 17: The Instanex Skindia DR Index moved up further by 11.72 points or 0.51 per cent to 2,310.77 on November 16 and the Dr Index P/E Ratio also ........more NEW DELHI, Nov 17: Weak conditions were seen on the local kirana market today with prices of selective spices declining on increased offerings by stockists amidst reduced offtake and ended moderately lower........more |
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Dry fruits prices rule steady in
thin trading NEW DELHI, Nov 17: There was not much activity in the local dry fruit market today with prices after moving in a tight range close around previous levels.........more Nickel turns weak on withdrawal of support NEW DELHI, Nov 17: Nickel plate weakened on the wholesale non-ferrous metal market today on withdrawal of support amidst weak overseas advices ..........more NEW DELHI, Nov 17: Prices of low density polymer improved in the wholesale plastic market today on fresh demand from plastic carry bag manufacturers and closed with gains.Elsewhere, ......more "De-tariffing to impact premium prices of insurance products" LUDHIANA, Nov 17: Tata AIG General Insurance Company has said the premium of some of the insurance products could go up, few other schemes ............more |
RIL in production sharing contract with Timor Leste Republic NEW DELHI, Nov 17: Mukesh Ambani’s Reliance Industries Ltd today announced that it has entered into a production sharing contract (PSC) with the government of Timor Leste for an offshore exploration block in in Dili, capital of the country. As per the terms of the contract bagged by the company, RIL will have majority interest and operator-ship in the die awarded block K of 2,384 sq km area. The acreage offered lies in the proven petroleum province of Australian North West Shelf and is adjacent to the Timor Sea, which is a joint petroleum development area between Timor Leste and Australia. This region contains discoveries like Bayu-Undan, which commenced production in 2004, and Greater Sunrise. "The company is confident that with its expertise in the integrated Petroleum Value-chain and in implementing world-class projects, it will be able to significantly contribute to the upliftment of the Timor Leste economy and its population," a RIL statement said. The company believes in exploring in geographies across the globe with a long-term perspective and in the process become a valuable partner of growth of those countries, it added. RIL, a forerunner in the exploration and production (E&P) business in India, has made significant discoveries in Krishna Godavari basin besides blocks in Yemen, Oman and Colombia. Timor Leste Minister of Natural Resources, Minerals and Energy Policy Jose A ernandes Teixeira and RIL Atul Chandra President (International Operations) signed the contract in Dili yesterday. The Government of Timor Leste had invited bids for 11 offshore exploration blocks in shallow to ultra deep waters in their country in January this year. Of the 11 blocks offered under the licensing round, six blocks were awarded in May. Timor Leste is the world_s youngest nation having achieved independence from Indonesia in May 2002. The total population of the country is 1 million with Dilli as its capital city. The country has Indonesia and Australia as its immediate neighbours. (UNI) |
Sealing will not affect normal functioning of ASSOCHAM: Rawat NEW DELHI, Nov 17: Sealing of the backend office of the Assocham in south Delhi under the ongoing MCD drive would not affect the normal functioning of the chamber, Secretary General D S Rawat said today. "We have shifted our staff to main premises at Prithiviraj Road and all the programmes and conferences will take place as per schedule," Rawat said. He said because of the increased activity in the camber, Assocham was looking for bigger space in any case. "Our back office in the non-conforming area of Gautam Nagar was not able to accommodate our increasing requirements. We will soon have a bigger space," Rawat added. (PTI) |
Further rise Instanex Skindia DR Index MUMBAI, Nov 17: The Instanex Skindia DR Index moved up further by 11.72 points or 0.51 per cent to 2,310.77 on November 16 and the Dr Index P/E Ratio also edged up 27.73, Instanex Capital release said here today. Following are the GDR and ADR rates for Nov 16 in US dollars with differences in percentage from the previous level given in brackets. Bajaj Auto (GDR) 58.20 (UNCH) Dr Reddy (ADR) 16.45 (-3.24) HDFC Bank (ADR) 76.65 (+3.58) Hindalco (GDR) 3.95 (UNCH) ICICI Bank (ADR) 39.05 (-0.99) Infosys Tech (ADR) 56.29 (-0.37) ITC (GDR) 4.08 (-0.49) L&T (GDR) 30.20 (+1.68) MTNL (ADR) 6.17 (+2.83) Ranbaxy Labs (GDR) 8.80 (UNCH) Reliance (GDR) 56.88 (+1.12) Satyam Comp (ADR) 22.86 (+0.70) SBI (GDR) 69.90 (+2.79) VSNL (ADR) 19.98 (+2.20) Wipro (ADR) 15.06 (+1.14) (PTI) |
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NEW DELHI, Nov 17: Weak conditions were seen on the local kirana market today with prices of selective spices declining on increased offerings by stockists amidst reduced offtake and ended moderately lower. Traders said slackness in demand from local parties against increased arrivals from producing centres and weak outside advices mainly attributed fall in black pepper and zeera prices. Black pepper drifted to Rs 10,700-10,800 from previous level of Rs 10,900-11,000 per quintal. Similarly, Jeera common and dollar also marked lower by Rs 200 each to conclude at Rs 8,000-8,300 and Rs 8,200 -8,300 per quintal. Following were today’s quotations (in Rs per quintal): Ajwain 4,000-7,500, black pepper golden Rs 8,600-9,000 Betelnut (kg) 6,100-7,300, cardamom brown (Jhundiwali) Rs. 15,000-15,500 cardamom brown (Kanchicut) Rs 16,500-18,000.
Ajwain 4,000-6,500 Black pepper common 10,700-10,800 Betelnut (kg) 95-110, cardamom brown (Jhundiwali) 12,500-13,000 and cardamom brown (Kanchicut) 15,000-17,000. Cardamom small (kg): Chitridar 170-280, cardamom (colour robin) 275-285, cardamom bold 300-310, cardamom extra (bold) 375-385 and cloves (kg) 250-290. Chirounji (new) (kg) 240-300 Dry mango 2,600-8,500 Dhania 3,500-6,000 Dry ginger 8,000-10,000 Kalaunji 8,000-9,500 Mace-Red (kg) 475-485 Mace-Yellow (kg) 475-485 Methiseed 2,600-4,000 Makhana (per kg) 115-150 Netmeg 230-240 Poppyseed (KG Turkey) 170 Poppseed (KG MP-RAJ) 165-205 Poppyseed (KG U.P.) 140-150 Red chillies 3,000-8,000 Soya bari pariwar (20 kg) 350-400 Saffron (kg) Irani 29,000-30,000 Saffron (kg) Kashmiri 37,000-43,000 Soanf 8,000-11,000 Turmeric 2,700-4,100 Tamarind 1,200-1,600 Tamarind without seed 3,000-4,000 Tea (kg) 70-120 Watermelon kernel 7,200-7,300 Jeera common 8,000-8,300 Jeera dollar 8,200-8,300 (PTI) |
Dry fruits prices rule steady in thin trading NEW DELHI, Nov 17: There was not much activity in the local dry fruit market today with prices after moving in a tight range close around previous levels. Traders said paucity of funds mainly influenced the trading sentiments, forcing stockists to keep their activity negligible. Following were today’s quotations per 40 kgs bag: Almond (California)new 10,200, Almond (gurbandi) 6,100 Almond (girdhi) 3,800, Almond kernel (california) 362-364, Almond kernel (gurbandi) (kg) 400-430 and Abjosh Afghani 7,000-12,000. Chilgoza raw-new (1 kg) 330 chilgoza (roasted) (1 kg) 1180-1250cashew kernel 1 kg (no 180) 430-460 cashew kernel (no 210) 350-370cashew kernel no.(240) 305-325 cashew kernel (no 320) 250-265 cashew kernel broken 2 pieces 162-195 cashew kernel broken 4 pieces 155-185 cashew kernel broken 8 pieces 150-165 copra (qtl) 4,900-5,200 coconut powder (25 kg) 8,50-1,650 dry dates red (qtl) 2,100-4,500 fig 5,000-9,000 kishmish kandhari local 5,800-6,300 kishmish kandhari special 10,000-12,000 kiahmiah indian yellow 2200-3500 kishmish indian green 3,200-5,500 pistachio Irani 500-525 pistachio Hairati 500-535 pistachio Peshwari 530-580 pistachio dodi (roasted) 395 walnut new 90-150 walnut kernel new (1kg) 250-350.(PTI) |
Nickel turns weak on withdrawal of support NEW DELHI, Nov 17: Nickel plate weakened on the wholesale non-ferrous metal market today on withdrawal of support amidst weak overseas advices and ended lower. Elsewhere, other base metals traded in a narrow range and settled around previous levels. Traders said withdrawal of support in the wake of weak overseas advices mainly pulled nickel plate prices down. Nickel plate 4x4, 9x9 and 4x24 lacked necessary buying support and shed Rs.5 each at Rs.1880-1980, Rs 1890 and Rs 1890-1910 per kilo respectively. Following were today’s quotations per kilo: Tin ingot 535, solder (40 per cent) 155, Nickle plate (4x4) 1880-1980, Nickel (9x9) 1890 Nickel (4x24) 1890-1910, zinc slab 210.00, dross 140, cadmium plate 176, Rod 153-156, antimony (china) 260, gun metal scrap 155, Bell metal scrap 150, copper wire scrap 325, copper super d rod 378, copper wire bar 347, copper mixed scrap 303, C.C rod 335, Utensil scrap 90, Mixed scrap 325, Chadripital 145, brass sheet cutting 105.50, bullet scrap 97, bharat scrap 208, accessories scrap 209, brass boring 77-78, brass radiator scrap 82 and huny scrap 97.50. Lead ingot deshi soft 56, hard 61.00, Lead imported 65-75, ingot 105, Aluminium rod 140, sheet cutting 125, aluminium wire scrap 127 and Aluminium utensils scrap 118. (PTI) |
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NEW DELHI, Nov 17: Prices of low density polymer improved in the wholesale plastic market today on fresh demand from plastic carry bag manufacturers and closed with gains. Elsewhere, other plastic moved in a narrow range on little doing, settled around previous levels. Traders said fresh enquiries from plastic carry bag makers helped low density (LD) polymer prices to improve. LD No 40 and LD No 400 were quoted higher at Rs.88 and Rs.86 against last close of Rs.86 and Rs.80 a kilo respectively. Following were today’s quotations per kilo: LD No 40 - 88, LD No 400 - 86, LDP blowing 79.00, colour 67.50 HD Blowing 79.50, HD moulding (deshi) 76, HD moulding (colour) 80, PP No 100 77, PP Colour 81, ABS (Indian) 91,acrylic 120-130, colour 139-144, crystal (Indian) 69, colour 78, poly carbonate 195-205, Nylon No-6 159, Nylon No 66 -173-175, PVC resin deshi 57.00, PVC pest grade 85, imported n.A. (PTI) |
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"De-tariffing to impact premium prices of insurance products" LUDHIANA, Nov 17: Tata AIG General Insurance Company has said the premium of some of the insurance products could go up, while those of few other schemes could come down following de-tariffing from January 1, 2007. "Definitely, there would be an impact on the premium prices of insurance products after de-tariffing of insurance sector from next year," Tata AIG General Insurance Company MD Dalip Verma told PTI here, while adding that premium prices of some of insurance schemes might increase and prices of a few might come down. General Insurance industry is largely governed by Tariff, which is administrative price control for various classes of risk by Tariff Advisory Committee. In order to bring efficiency in this sector, Insurance Regulatory and Development Authority (IRDA) has fixed January 1, 2007, as the date for de-tariffing. On being asked about the requirement of more capital infusion, Verma said, "if solvency margin requires, we will bring in more capital." The company presently has total capital base of Rs 195 crore and it brought in Rs 80 crore last year. Tata AIG General Insurance, which is a joint venture between Tata Sons and American International Group, would continue to focus on retail as well as corporate sectors. With market share of 3.6 per cent, the retail segment constitutes 53 per cent of company’s total business volume. (PTI) |
Air India flies high in D&B India’s top 500 companies NEW DELHI, Nov 17: Air India (AI) has been ranked first as per total income in the aviation sector for 2006 edition of the acclaimed Dun & Bradstreet publication titled India’s Top 500 Companies. It includes private sector companies listed on the Bombay Stock Exchange and the National Stock Exchange as well as public sector enterprises. Private sector companies are shortlisted on the basis of market capitalisation on the BSE and NSE. Listed companies profiled account for over 75 per cent of the BSE market capitalisation while the total income of top 500 accounts for 50 per cent of India’s GDP. Another feature of the publication is the sectoral classification of companies based on revenues. A company should generate at least 35 per cent of its revenue from a particular sector in order to be classified under that sector. The companies are rated after a thorough research by the D&B analyst team that developed a proprietary financial model with seven parameters-total income, net profit, net worth, net profit margin, net profit/net worth, growth in total income and growth in net profit. Final rankings of the companies are based on a composite score of these weighted parameters. (UNI) |
Oil sector officers urge PM to resolve issues NEW DELHI, Nov 17: Officers of the oil, telecom and power sector utilities have urged the Prime Minister to look into several long pending issues in their wages mainly regarding Dearness Allowance (DA) and Gratuity. The resolution to Prime Minister Manmohan Singh was given last evening by Oil Sector Officers’ Association of India (OSOA), Coal Mines Officers’ India (NEFI), Steel Executives’ Federation of India (SEFI), Federation of BHEL Executives Association (FOBEA), Sanchar Nigam Executives’ Association (BSNL), and Associations of MTNL and NHPC. The issues include, merger of 50 per cent DA with basic pay from January one 2005, release of lump sum ad-hoc pending discussions with next pay panel for salary revision from January one 2002, removal of ceiling on payment of gratuity and removal of 50 per cent ceiling on allowances. The officers said that if their pending issues are not settled by end of December 2006 then they would resort to an indefinite stir. (UNI) Kotak Life launches Sukhi Jeevan insurance plan MUMBAI, Nov 17: Kotak Life Insurance today announced the launch of ‘Sukhi Jeevan’, a customer friendly long term savings and protection life insurance plan. Sukhi Jeevan is an innovative reversionary bonus insurance cum investment endowment plan, is ideal for those who want to save up for the future while getting insured in a hassle free manner. This is primarily targeted at semi-urban and rural consumers in the age group of 0 to 60 years and medical tests are not required. Gaurang Shah, Managing Director of Kotak Life Insurance said that ‘Sukhi Jeevan’ aimed at providing hassle free Insurance to our customers has been devised to address one’s changing needs at every step of life. Apart from death and maturity benefits, this new instrument also provides early surrender and paid up options and also the policy holder can avail loans to the tune of 80 per cent of the surrender value. (UNI) |
Kingfisher Airlines launches 58 new daily flights NEW DELHI, Nov 17: Kingfisher Airlines has announced the launch of 58 new flights across 15 new routes, connecting 9 important cities across the country. The cities between which new services have started are Varanasi, Pune, Bangalore, Coimbatore, Chennai, Ahmedabad, Nagpur, Jammu and Hyderabad. The launch of new routes takes the number of daily flights operated by Kingfisher to 130 connecting 23 destinations. (UNI) |
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