IOC, HPCL and BPCL are losing Rs 550 crore daily on account of not being able to realise the actual price of these four fuels which are being subsidised to the customer.
The Indian economy appears set to go the American commuters way and get off the 8%+ fast lane as fighting oil-fed inflation becomes the priority for governments and central banks around the world.
The Indian rupee fell back marginally to 41.6350/6450 against the US currency in late morning deals following good dollar buying by oil refiners due to spiralling global crude prices.
Jai Corp today announced a standalone net profit of Rs 38.81 crore for the fourth quarter ended March 31, 2008, a 85.16 per cent growth over the corresponding period a year ago.
National capital-based real estate developer Paramount Group is understood to have decided to invest about Rs 1,100 crore in three projects over the next two years.
UK Sunday Times and Sunday Telegraph newspapers have reported that Vodafone is examining a £20 billion or $39.02 billion bid for MTN. Vodafone has, however, denied any intention to pursue MTN.
Indian traffic has been one of the major factors for the Nordic airline Finnair's Asian expansion contributing more than half of its revenues last year.
