Archive For The “Business & Economy Current Affairs 2018” Category

OVL to buy ConocoPhillips’ 8.4% stake in Kashagan field

By |

ONGC Videsh Ltd. (OVL) has finalized agreements for the acquisition of 8.40% Participating Interest (PI) of ConocoPhillips in the North Caspian Sea Production Sharing Agreement (NCSPSA), which included the Kashagan field in Kazakhstan. Kashagan Field is an offshore oil field located in the northern part of the Caspian Sea close to the city of Atyrau…

Read more »

Aurobindo Pharma recalled anti-depressant drug from US

By |

Hyderabad based Aurobindo Pharma Ltd recalled Mirtazapine drug from the US market due to the product not meeting a specification for a known degradation product during routine stability testing. The drug is an anti-depressant and generally indicated for treatment of mood disorders.             Source:gktoday

Read more »

Jet Airways may get approval to join Star Alliance

By |

Jet Airways may get nod from Civil Aviation to join the Star Alliance with state-owned Air India. What is Star Alliance? Star Alliance is the world’s first and largest global airline alliance, headquartered in Frankfurt am Main, Germany. It was founded in 1997 by five founding airlines, Air Canada, Lufthansa, Scandinavian Airlines, Thai Airways International,…

Read more »

Hind Copper disinvestment rescued by LIC and PSU banks

By |

In the direction of achieving Rs 30,000 crore target for fiscal 2012-13 by disinvesting PSUs, the government of India managed to yield Rs 800 crore by selling shares of Hindustan Copper. The sail was mainly on support from the Life Insurance Corporation and public sector banks. The offer for sale (OFS) saw lukewarm response from…

Read more »

RINL’s navratna status extended by one year

By |

The Union Government extended ‘navaratna’ status to Rashtriya Ispat Nigam Ltd (Visakhapatnam Steel Plant) till November 2013. The government took into account the company’s performance, investment of huge amounts in expansion and plant modernisation and completion of all formalities for an IPO.             Source:gktoday

Read more »

Pepsi replaces DLF by winning 5 years sponsorship of the IPL

By |

Pepsi won the five-year title sponsorship of the Indian Premier League (IPL). It replaced earlier sponsor DLF by paying Rs 396.8 crore ($71.93 million) which is almost double the amount DLF paid.             Source:gktoday

Read more »

TDSAT reserves order on Tata Teleservices-Vodafone dispute on SMS fee

By |

Tata Tele took Vodafone to Telecom Disputes Settlement and Appellate Tribunal (TDSAT) against Vodafone’s notice threatening to disconnect termination of SMSes on its network over a dispute on certain fees. A single-member Telecom Disputes Settlement and Appellate Tribunal (TDSAT) bench of P.K.Rastogi reserved its order on the interim plea of Tata Teleservices. TDSAT: Establishment: The…

Read more »

Airtel Completes Largest Network Transformation in African Telecoms History

By |

Bharti Airtel Ltd, India’s largest telecommunications operator has finished an end-to-end network transformation program across the 16 African countries in which it operates. This transformation programme by Airtel follows the 2011 declaration of an on-going 5 year multi-country managed services arrangement, in which Ericsson would manage and optimize Airtel’s mobile networks across Africa. The project…

Read more »

RBI advises banks not to grant loans for purchase of gold in any form

By |

The RBI advised banks not to give loans for purchase of gold in any form, including primary gold, bullion and jewellery. Still, RBI held that banks can provide finance for genuine working capital needs of jewelers. Objective: To discourage people from indulging in speculative activity. Such advances by the banks are probable to be utilized for…

Read more »

“White Goods makers miss targets despite good demand” – What are White Goods ?

By |

What are AWhite Goods’ or AWhiteware’ ? What are AWhite Sales’? AWhite Goods’ or AWhiteware’ basically refer to two groups of household items: Household linens Household appliances Household linens Household linens like Handkerchief, bed sheet, towel, pillow, etc. These were originally were/are made of white cotton or linen fabric, thus were referred to as White…

Read more »

Intel CEO Paul Otellini to retire

By |

Intel CEO Paul Otellini Otellini who has worked with Intel for nearly 40 years and became CEO in 2005. Otellini will retire in May at the age of 62 years. Intel held that search it is searching for replacement for Otellini both within and outside the organization.             Source:gktoday

Read more »