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RIL says it signed gas contract but NTPC did not
Reliance Industries Ltd (RIL) has said it had signed a contract in December 2005 to sell natural gas to NTPC at $2.34 per million British thermal unit (mBtu) for 17 years, but it was the state-run firm that did not reciprocate.

'No reversal of stimulus before hitting 7% growth'
Pitching for continuance of the stimulus packages, Planning Commission Deputy Chairman Montek Singh Ahluwalia today said the concessions given to the industry to combat global financial meltdown need to remain till the economy achieves 7 per cent growth rate.

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Novartis moves SC against Glivec order
Swiss drug major Novartis has approached the Supreme Court against a decision of the country’s apex patent complaint redressal forum, the Intellectual Property Appellate Board (IPAB), to deny patent protection for its cancer medicine, Glivec. The court is expected to take up the case for hearing on August 31.
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IDBI Fortis Life to pay claim in case of swine flu death

IDBI Fortis Life Insurance will clear the claims of next of kin if any policyholder died of swine flu, a top company official said, despite the disease not being listed as one of those for which such a payment can be made. - Opto Circuits get CE certificate for portable pulse oximeter - Swine flu death toll rises to seven - Bengal gears up to tackle Swine Flu - Swine flu deaths spread to TN, toll now 7 - Swine flu: BMC opens six more screening centres in Mumbai - Tamiflu should not be given to children with flu: study "Insurance will be given in the case of death due to the H1N1 virus even though the disease has not been mentioned at the time of buying the policy," IDBI Fortis Life Insurance Managing Director and Chief Executive Officer G V Nageswara Rao told PTI here. The company has listed 17 diseases for which policyholders can claim insurance and swine flu is not on the list, he said. Despite this, the company will pay if any policyholder died of swine flu. However, the disease will continue to be out of the firm"s policies, Rao said. IDBI Fortis Life Insurance is a joint venture between IDBI Bank, Federal Bank and Europe-based bancassurer Fortis. IDBI Bank holds a 48 per cent stake while Federal Bank and Fortis hold a 26 per cent each in this venture. The company, which earned Rs 319 crore as first-year premium last fiscal, is bullish about its growth during this fiscal. "We are in the growth phase," Rao said.


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