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Orissa asks Posco to focus on welfare of locals
Orissa overnment today asked Posco-India to focus on welfare of people who would be displaced by the company"s Rs 52,000 crore steel project, which is facing resistance from locals.

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VW backs Porsche contracts, paves way for merger
Volkswagen AG’s supervisory board signed off on contracts for its takeover of Porsche SE in stages, clearing the way for Europe’s largest automaker to add the 911 sports car to its model line up.

News of the day

Only 2 bidders in fray for CWG broadcast
The multi-million dollar production contract for the Commonwealth Games (CWG) 2010 may be decided between two entities — consortium of Nimbus Communications and Canadian Broadcasting Corporation, and Satellite Information Service Live of United Kingdom — as only these two entities are said to have submitted the bids today, highly places sources said.
International Business

Lanka wants to rope in RIL for oil exploration

The Sri Lankan government wants to rope in Mukesh Ambani-led Reliance Industries Ltd (RIL) for exploration of oil in the island nation. - Fertiliser ministry wants 43 mmscmd - RNRL seeks to join NTPC-RIL gas row - IOC mulls to source 1-mn tonnes of crude from RIL"s KG field - RIL gets HC approval for RPL merger - Anil Ambani group lashes again on RIL gas pricing - RIL margins to cost Rs 10k cr more on fert, power cos: RPower “... (we) are in talks with Reliance for petroleum exploration,” Sri Lankan Minister for Investment Promotion Navin Dissanayake told reporters at a CII function here today. He said he would be visiting Mumbai tomorrow to meet senior RIL officials. “We have identified couple of blocks exclusively for India,” Dissanayake said, adding that RIL has shown interest in the Sri Lankan oil fields.


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