New Delhi Feb 24 PTI The Indian government has refunded Rs 7900 crore to Britains Cairn Energy Plc to a dispute over levy of retrospective taxes Cairn which is now known as Capricorn Energy Plc in a statement said the tax refund has been paid and net proceeds of USD 106 billion have been received PTI ANZ ANZ ABM ABM

New Delhi Jan 21 PTI Reliance Industries on Friday reported a 415 per cent jump in its third quarter net profit as oil retail and telecom businesses fired on all cylinders Net profit of Rs 18549 crore in October-December compared with Rs 13101 crore a year back the company said in a stock exchange filing Income from operations rose to Rs 191 lakh crore from Rs 128 lakh crore PTI ANZ ANZ ABM ABM

New Delhi Dec 17 PTI As preparation for next years Budget gathers steam Prime Minister Narendra Modi on Friday met with leading private equityventure capital players to seek suggestions on making India a more attractive investment destination Discussions during the meet revolved around seeking suggestions to make it even more easier to do business in India attract more capital and further the reform process official sources said The meeting illustrates how the Prime Minister is interacting personally with industry leaders to gather inputs ahead of the next Budget they added Finance Minister Nirmala Sitharaman is due to present on February 1 the Budget for the next fiscal year that starts on April 1 2022 Modi had in November last year met 20 large global investors managing assets of more than USD 6 trillion Since coming to power in 2014 the BJP government has unveiled a series of reforms that has helped India climb on the global ease of doing business ranking It is now pushing for making India a manufacturing hub Production-linked incentive schemes for sectors from automobiles to semiconductors and solar have been announced to attract global manufacturers to set up base in the country PTI ANZ ANZ ABM ABM

New Delhi Sep 27 PTI Diesel price on Monday was hiked by 25 paise per litre -- the third increase since last week -- and more rate hikes for both diesel and petrol are in the offing in the coming days as international oil prices have soared to a three-year high The price of diesel was hiked to Rs 8932 per litre in Delhi and to Rs 9694 in Mumbai according to a price notification of state-owned fuel retailers This is the second straight day of increase in diesel prices and the third since September 24 when the state-owned oil firms ended a three-week hiatus in rates Just like the previous two occasions petrol price was not changed on Monday It costs Rs 10119 a litre in Delhi and Rs 10726 in Mumbai However industry sources said the price of petrol alongside diesel is likely to be increased in the coming days as the rally in international crude oil prices has continued with Brent Future prices quoting at more than USD 78 per barrel since September 24 Crude oil prices have reached a nearly three-year high as global output disruptions have forced energy companies to draw more crude oil out of their stockpiles Accordingly US crude oil inventory levels are also nearing a three-year low Global demand for crude oil has been increasing consistently with the easing of pandemic restrictions and improving vaccination rates On the supply side OPEC alliance has been slow in easing output restrictions contributing to the tightened supply in the market a source said Additionally hurricanes Ida and Nicholas have impacted crude oil production in the US Gulf of Mexico region when they hit in late August and September respectively As per both IEA and OPEC global demand is expected to outpace supply due to which international oil prices will likely remain firm in the near to mid-term A simultaneous rally in natural gas is also likely to drive demand for alternate fuels State-owned Indian Oil Corp IOC Bharat Petroleum Corp Ltd BPCL and Hindustan Petroleum Corp Ltd HPCL had on September 24 resumed daily price revisions ending the pause in rates since September 5 In all diesel prices have gone up by 70 paise a litre negating more than half of the Rs 125 a litre cut in prices that happened between July 18 and September 5 Before this diesel price was last increased on July 15 On the other hand an increase in the price of petrol has so far been spared by oil firms The last increase in petrol rate was on July 17 However with no respite from surging international prices a rise in retail prices of both petrol and diesel is likely in the coming days the source said When international oil rates fell in July and August retail prices of petrol and diesel in the Delhi market were reduced by Rs 065 and Rs 125 per litre Prior to that petrol price was increased by Rs 1144 a litre between May 4 and July 17 Diesel rate had gone up by Rs 914 during this period The price hike during this period pushed petrol prices above the Rs 100-a-litre mark in more than half of the country while diesel crossed that level in at least three states India is dependent on imports to meet nearly 85 per cent of its oil needs and so benchmarks local fuel rates to international oil prices PTI ANZ ANZ ABM ABM