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RIL, ONGC may be bidders in $8-billion Addax sale
India’s two largest companies — state-run Oil and Natural Gas Corp (ONGC) and billionaire Mukesh Ambani-led Reliance Industries (RIL) — are being rumoured as the "mystery" bidders for UK-based Addax Petroleum, which could be sold for £5 billion (around $8.26 billion), a media report said here.

Vidal, withal
A year or two ago Gore Vidal was expected at the Jaipur Literature Festival, and was scheduled to make one appearance in Delhi. I was all ready to arrive early and stick my hand out to have it shaken by the master. There must have been many others with similar aspirations. But in the event Gore cancelled his trip to India.

News of the day

Last decade warmest on record: WMO chief
As negotiators from 193 nations were busy negotiating a historic deal on cutting carbon emissions, the UN"s top weather agency today said that the world, including parts of India were experiencing the hottest decade on record.
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Maharatna title likely tomorrow

The Cabinet is expected to clear tomorrow the proposal to grant the coveted "Maharatna status" to public sector blue-chips like ONGC, SAIL, BSNL, NTPC and CIL giving them increased autonomy. - Power ministry floats Cabinet note to push open access - Coal ministry to move Cabinet for regulator - SAIL disinvestment proposal to reach Cabinet in 3-4 weeks - Cabinet likely to discuss Maharatna status tomorrow - FCI to sell wheat on bourses, may boost capacity use by mills - Cabinet may allow trading of energy units saved The proposal for granting the enhanced status to these companies is likely to come up for the consideration of the Cabinet tomorrow, a source said. These profit-making PSUs may get freedom to take investment decision of up to Rs 5,000 crore without government approval once they are given the Maharatna status. The new tag would also allow them to forge joint ventures, float overseas arms and go for large mergers and acquisitions. At present, the top performing Central PSUs are called Navratnas. There are 18 such companies and several of them are listed and traded in the stock markets.


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