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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.

Banks credit offtake rises 13.34%
Credit growth of banks remained at 13 per cent for the fortnight ended January 1 compared to 24 per cent in same period a year ago.

News of the day

Interest rates may not rise sharply: Rangarajan
The government"s high borrowings may not push up interest rates sharply towards the end of this year and are likely to hover around the current levels, Prime Minister"s Economic Advisory Council chairman C Rangarajan said.
Management

NTPC misleading the govt on gas price: RIL to Oil Ministry

Mukesh Ambani-led RIL today hit at state owned NTPC for "misleading" the government by saying that it was not aware of the condition that the price of gas to be supplied to it was subject to Centre"s approval. "...NTPC"s letter to the government at this stage is clearly an afterthought intended to mislead the government," RIL"s Petroleum Business chief P M S Prasad told Petroleum Secretary R S Pandey in a communication amid an ongoing battle with the power PSU over gas supply on a price bid in 2004.


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