Month: January 2009

The Mukesh Ambani-led Reliance Industries (RIL), bowing to US pressure, has decided to halt gasoline supplies to Iran after completing its ongoing contract. However, RIL officials refused to comment on the development, according to a media report. This decision to halt supplies to Iran follows a letter written by eight US Congressmen to that country’s … Read more RIL to halt gasoline sales to Iran ?

An insurance industry panel, a five member sub-committee of actuaries, has embarked a uniform method for calculating the fee structure of unit-linked insurance plans (ULIPS), but left it to individual companies to fix the exact amount to be charged. The committee has defined six specific charges and no company can levy charges in excess of … Read more Insurance Panel suggests uniform method for ULIP charges

BSEL Infrastructure Realty has made exit from B W Highway Star Hotel project at Balewadi, Pune. The company had approximately 17% shares of the B W Highway Star – a SPV incorporated in joint venture for the project with Unity Infraprojects and Kamat Hotel (India), Clearwater Capital, Cyprus The company has sold 1,058,824 Shares of … Read more BSEL exits B W Highway Star Hotel project

Gold finished higher on Tuesday, rebounding from a two-week low early in the day on chart-based support and as investors covered short positions. US gold futures for February delivery settled up $8.20 to $866.00 an ounce on the COMEX division of the New York Mercantile Exchange. Bullion dropped to a two-week low of $838.55 in … Read more Gold ends higher, bounces off 2-week low

Indian tea industry has been on the road to revival during the current fiscal. After years of slump, the tea production has been buoyant while tea prices have too been firm. Riding on better realisations and some favourable changes in international demand-supply dynamics, India has also witnessed buoyant exports in most part of the fiscal. … Read more Tea industry remains firm in times of economic slowdown