India News

Oil and Natural Gas Corporation Ltd. is set to buy a 45 per cent stake in Nigerian offshore oilfield Akpo for $2 billion, Economic Times newspaper said on Wednesday . ONGC will make the acquisition through its overseas arm, ONGC Videsh, and partner with French oil company Total SA, the paper said.

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 NASSCOM said its suggestions of giving loans to software product start-ups to cover high patenting cost and fiscal incentives for angel investors has evoked a "positive reaction" from the central government.

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The World Trade Organisation (WTO) has approved changes in the intellectual property rights (IPR) agreement allowing poorer nations access to cheaper generic drugs.

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In line with its expansion plans, US-based Telelogic opened its second facility housing its growing Product Development team, in Bangalore. Telelogic in India is now the fourth largest in terms of the employee strength in the Telelogic group, its Chief Operating Officer Scott Raskin told reporters after inaugurating the facility.

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The government-owned Indian Airlines has acquired a new corporate identity and a new name as well.It will now be called ''Indian.' The word 'Airlines' has been dropped and will hopefully shed its somewhat stodgy image.

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After a fortnight-long review of the state of affairs in Bihar, Chief Minister Nitish Kumar left here for New Delhi today to seek the Centre's cooperation and assistance for accelerating development and improving law and order situation in the state.

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India plans joint defence exercises, similar to the one recently concluded with the United States Air Force, with countries like Britain, Singapore, Malaysia, Russia and Indonesia in the near future, Defence Minister Pranab Mukherjee informed the Rajya Sabha on Wednesday.

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At least 13 people have been burnt to death in a major fire that engulfed a cloth factory in an East Delhi area.The blaze erupted at around 11.15 am (IST) and soon spread through the three-storeyed building in Vishwas Nagar area in Patparganj.

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BJP parliamentary party today decided to allow smooth functioning of both Houses of Parliament while insisting on Congress president Sonia Gandhi's resignation as chairperson of the National Advisory Council.

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Ahead of the Champions Trophy hockey tournament, Tamil Nadu Chief Minister Jayalalithaa today inaugurated the re-laid synthetic turf at Mayor Radhakrishnan stadium here.

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 Having long been rumoured to be on Williams’ shortlist as their Friday test driver, Narain Karthikeyan boosted his hopes of a second season in Formula One after the team named him for Wednesday’s test at Jerez, Spain.

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Sri Lanka could feel better from whatever they could get out of the Chennai Test. They limited India to their lowest total ever against them and then batted serenely till the end. There was some useful practice for key players but I am baffled by a particularly annoying decision.

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Alchemist Ltd has decided to declare a 25 per cent dividend for the financial year 2004-2005. The board at its meeting yesterday recommended the dividend on equity shares of Rs 1 each, the company informed the Bombay Stock Exchange.

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Wickekeeper/batsman are changing the face of world cricket. Gilchrist, Sangakkara, Kamran Akmal, Zimbabwe's ex-captain Taibu and India's very own MS Dhoni have added a whole new dimension to the game. Although Boucher has played most number of Tests .

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Lok Adalat has awarded Rs 75 lakh as compensation to the earthquake victims of Rafiabad area in Baramulla district in Jammu and Kashmir. Chief Judicial Magistrate, Sopore, awarded the compensation at Chatoosa village on Tuesday.

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With the total October overseas borrowing falling to $0.611 billion, once an attractive source of cheap resources for Indian corporates, the overseas market is fast losing flavour among India Inc.

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Government papers say that Oil and Natural Gas Corp, and not the Petroleum Ministry, is to blame for the nine-month delay in fixing the navratna company’s performance targets for 2005-06.

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ICICI Bank, India's second-largest lender, has priced its American depositary share issue at $26.75 each, a source close to the development said on Wednesday.It priced the local share issue at Rs 525 each, the source said. Retail investors would get a 5 per cent discount on price.

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India on Tuesday categorically said it will not agree to any deal which displaced its farmers in any way at the Hong Kong WTO Ministerial conference to be held from December 13-18.

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The Volcker issue continued to set the NDA’s aggressive agenda in Parliament as a raucous BJP and its allies hijacked proceedings, including the vital Question Hour, and forced the adjournment of both Houses for the day.

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In a further setback to controversial RJD Lok Sabha MP, Mohammed Shahabuddin, a local court today rejected his application for bail in a case of violation of the Arms Act.

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Mr Natwar Singh might be more indignant with a section of the Congress leadership than with the NDA that led the campaign for his removal from the Cabinet over the Volcker expose.

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Though sporadic incidents continued in the inter-tribal violence-hit Karbi Anglong district, the Army was conducting counter-insurgency operations against those militant outfits in the region.

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Can you imagine being robbed of Rs 10 lakh in the heart of busy Malleswaram in broad daylight? With chilli powder thrown into your face? It happened. Time: 11.30 am on Tuesday.

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The Muslims of Belgaum observed Tuesday as Black Day to protest against demolition of Babri Masjid at Ayodhya on December 6 in 1992.As part of the protest, the shops and business establishments located .

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The Central Bureau of Investigation has given a clean chit to Chief Minister Dr Y S Rajasekhar Reddy's son Y S Jaganmohan Reddy and Panchayat Raj Minister J C Diwakar Reddy in connection with murder of Telugu Desam Party legislator Paritala Ravi in January 2005.

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Describing India as a "very close partner" in the war against terror, the US has stressed the importance of sharing intelligence between the two countries to face the threat.

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The parents of a six-year-old in Bihar have now come under fire from angry locals in their village. Six-year-old Umesh has been kept tied to a pole over the past three years. But his parents claim he's mentally unstable and this is the only way to keep him out of trouble.

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In Orissa, the Dongaria Kondh adivasis are protesting the move by a company to mine bauxite in a region - which they consider sacred. The adivasis are also protesting the encroachment into the forest areas saying they would rather lay down their lives than yield their homeland.

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Thousands of monkeys are making themselves comfortable in a Jammu village, as residents move out due to fear. In the last two months, 65 families in the Cheryai village, about 60 kilometers from Jammu, have already migrated.

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Police allegedly lathicharged an irate group of followers of Sri Narendra Maharaj at the Mumbai airport on Tuesday night, airport sources said. Several women and few children were among those who injured in the lathicharge, they said.

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Expressing happiness over Natwar Singh's resignation from the Union Cabinet, BJP Parliamentary party on Wednesday decided to allow smooth functioning of both Houses of Parliament while insisting on Congress President Sonia Gandhi's resignation as Chairperson of the National Advisory Council.

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Microsoft founder chairman Bill Gates has brought good tidings to the country on his fourth visit to India. The chairman of the software major on Wednesday announced that the company plans to increase its headcount in India by 3,000 over the next three to four years.

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Petrol pump owners in West Bengal are on a 48-hour strike in protest against high sales tax by the state government and low commissions from oil companies.

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After nearly 40 days of defiance, former external affairs minister Natwar Singh has announced his resignation from the Union Cabinet.Natwar was earlier supposed to hand in his papers to Prime Minister Manmohan Singh as he returned from Moscow today.

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