Government slashes natural gas prices by 16% to $4.24 per unit
The government has cut natural gas prices by 16% to $4.24 per unit for the six-month period, beginning October 1. Natural gas prices, according to a formula approved by the government in October last year, will fall to $4.24 per million British thermal unit on net calorific value (NCV) basis from... read more »
Nippon Life to hike stake in life insurance, mutual fund business: Ambani
MUMBAI: Bullish on growth prospects of his group’s financial services businesses, industrialist Anil Ambani on Wednesday said Japanese major Nippon Life is in an advanced stage of talks to hike stake in Reliance Life Insurance and Reliance Mutual Fund units within this financial year. In... read more »
Modi suddenly pressured to act after Raghuram Rajan cuts rates
New Delhi: Now that the Reserve Bank of India (RBI) governor Raghuram Rajan responded to government pressure with India’s biggest rate cut since 2009, it’s Prime Minister Narendra Modi’s turn to act. India’s lenders have been slow to pass on rate cuts earlier this year, prompting Rajan to... read more »
China’s Didi Kuaidi Firms Up Anti-Uber Alliance, Invests in Ola
China’s most popular ride-hailing app Didi Kuaidi said on Monday it has invested in Indian peer Ola, forging a new alliance within a network of companies challenging US rival Uber Technologies Inc. Didi joins existing investors including SoftBank Corp, Falcon Edge, Singapore sovereign wealth... read more »
