Mukesh Ambani Reliance accepts Cost Escalation in KG Basin – Shady Government Deals

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In a stunning admission, RIL has released defending the cost escalation of KG basin project.

As against the ADAG’s claim, RIL says the capital expenditure for the KG-D6 fields has increased from $2.47 billion in 2003 to $8.83 billion due to a 2.5 times increase in reserves, trebling of production facilities, doubling of peak production, hike in number of wells, field life and inflation in the equipment and services industry.

Read moreMukesh Ambani Reliance accepts Cost Escalation in KG Basin – Shady Government Deals

Deccan Chronicle hikes advertisement tariff by 20%

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Deccan Chronicle Holdings has decided to hike its advertisement tariff across all its editions by 20% effective from October 1, 2009. The move comes on the back of huge response to the company’s daily circulations in South India. During Jan-June 2009, it had daily circulation of 2,44,902 copies in Bengaluru while total 13,49,959 circulations on … Read more Deccan Chronicle hikes advertisement tariff by 20%

How to Get Cibil Credit Information Report on Demand ?

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I just can’t believe this is happening in India. We were tipped off by a reader that CIBIL has just started offering Consumer Credit Reports on Demand to Indians and has submitted just few forms until the process gets streamlined.

This was so much needed as we Indian consumer never knew what was inside our report and how banks and financial institutions were judging our credit worthiness. Now that you can demand the same anytime by paying just Rs 142 , their will be transparency in the operations of banks and credit card companies.

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Sion-Panvel expressway – IVRCL bags the Project

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IVRCL Infrastructure & Projects, in a joint venture with another company, has emerged as the lowest bidder for the 25 km Sion-Panvel expressway. The project cost has been pegged at around Rs 2,000 crore and has a concession period of 18 years and nine months. IVRCL beat Reliance Infrastructure to bag the project.

The project envisages expanding the existing bitumen road into a 10-lane concrete expressway between the BARC junction at Sion and the Kalamboli junction at Panvel with three flyovers and 10 underpasses. The project would be executed on a build-operate-transfer (toll) basis, the report added.

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FIIs net sellers of Rs 438 cr (prov) in the cash on Thursday

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Foreign institutional investors (FIIs) were net sellers of Rs 438.19 crore (provisional) in the cash segment on Thursday, as per information posted on the BSE website. While FIIs made gross purchases of Rs 1,766.64 crore, their gross sales aggregated Rs 2,204.83 crore.

On the other hand, domestic institutional investors (DIIs) were net buyers of Rs 489.42 crore (provisional) on the same day. While DIIs made gross purchases of Rs 1,343.26 crore, their gross sales stood at Rs 853.84 crore.

Read moreFIIs net sellers of Rs 438 cr (prov) in the cash on Thursday

Weak American jobs data pulls down copper prices

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US copper ended lower, capping the longest slide in two months, after US jobless claims rose unexpectedly last week, igniting fresh concerns that the recession is damping demand for industrial metals.

The metal extended its fall after a report revealed Americans fell behind on their mortgage payments at a record pace in the second quarter, a sign that the housing market has yet to stabilize. Copper dropped for the fifth straight session.

Copper futures for December delivery lost 1.7 cents, or 0.6%, to $2.754 a pound on the Comex division of the New York Mercantile Exchange. The industrial metal has declined 6% since August 13.

Read moreWeak American jobs data pulls down copper prices