BUSINESS
Indian crude oil basket price rose 23% between Dec 2021-March 2023: Government
Prices of petrol and diesel have not been increased by public sector oil marketing companies (OMCs) since April 6, 2022, despite record high international prices, Minister of State for Petroleum Rameswar Teli told the Lok Sabha in a written reply. The three OMCs, namely Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation, have booked a combined loss of Rs 18,622 crore between April 2022 and December 2022, it said.
G20: Consensus on research, innovation collaboration
On the second day of the three-day G20 Education Working Group (EdWG) summit in this Punjab city, the focus centred around priority areas Ato strengthen research and promoting innovation through collaboration and building capacities and ensuring foundational literacy.
PMs Modi, Hasina to jointly inaugurate India-Bangladesh diesel pipeline on Mar 18
This is the first cross-border energy pipeline between India and Bangladesh, built at an estimated cost of Rs 377 crore, of which the Bangladesh portion of the pipeline built at a cost of approximately Rs 285 crore, has been borne by the Indian government under grant assistance.
Franklin Templeton Asset Management India says cooperating with ED
The places where the ED was conducting searches are said to be belonging ti Santosh Kamath, Chief Investing Officer-Fixed Income at Franklin Templeton Mutual Fund, Vivek Kudva, former head of Asia-Pacific (APAC) distribution, and his wife Roopa Kudva. According to information, she is the head of Omidyar Network, India.
Delhi: CNG prices rise 38%, LPG cylinder gets 22% costlier in last 1 yr
The comparative prices of CNG for Indraprastha Gas Limited (Delhi) were at Rs 57.01 per kg on March 1, 2022 and it increased to Rs 79.56 per kg on March 1 this year. Similarly, the price of a LPG cylinder (14.4 kg) was at Rs 899.50 on March 1, 2022 and it went up to Rs 1,103 by March 1.
77% of Indian businesses expect to increase their travel budget in 2023: American Express Survey Report
The report further indicates that 79 per cent of Indian businesses surveyed use business travel data analytics to assist with travel booking and expenditure, showing how important technology has become for the travel sector. As with the broader technology sector, the travel technology sector is constantly innovating. In the post-pandemic period, 43 per cent of financial decision makers surveyed said that the use of better software to manage expenses and travel is a key innovation.
Sell stake in TikTok or face ban, US demands from Chinese firm ByteDance
According to The Wall Street Journal, the White House's threat is an escalation from the limited bans and pending legislation that have been growing up for some time. The Committee on Foreign Investment in the US made the sale demand, according to the report.
Patanjali Foods says no impact on financial position after exchanges freeze promoter holding
The company said it has received communication from the promoters that they are fully committed to the mandatory compliance of achieving the minimum public shareholding and they have been discussing various modes best suited for increasing the public shareholding.
European markets up after Credit Suisse takes loan from Swiss Central Bank
In the opening minutes of trade, the UK's FTSE 100 was up more than 1 per cent and the French CAC 40 was up 1.5 per cent, CNN reported. Switzerland's second largest bank has agreed a $53 billion loan from the Swiss Central Bank, saying it was a "decisive action to pre-emptively strengthen its liquidity."
Eris Lifesciences buys Dr.Reddy's 9 cosmetic dermatology products for Rs 275 cr
According to Dr. Reddy's, as per the agreement, Eris Lifesciences will be assigned the trademarks of the divested brands that logged sales of Rs 60 crore in India. "India is a focus market for us. We aspire to break into the top five in India. Today's announcement is in line with our stated intention of pursuing a strategy that involves growing brands organically combined with acquisitions that are a strategic fit and divestment of non-core brands," M.V. Ramana, CEO - Branded Markets (India & Emerging Markets) said.
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