Mumbai: A weak outlook for natural gas prices will likely keep the price of domestically produced gas within the band of $5-6 per million metric British thermal units (mmBtu) for at least two years although the government’s new pricing formula allows for a revision every six months.

This means Oil and Natural Gas Corp. Ltd (ONGC) and Oil India Ltd (OIL) will not get to raise the gas price periodically under the formula unveiled in October, which prescribed a much lower price than the $8.4 per mmBtu approved by the previous government.

The World Bank has approved a grant of $285 million to finance the three west African countries hardest hit by the Ebola crisis.

The grant is part of the nearly $1 billion of financing previously announced by the World Bank for Guinea, Liberia and Sierra Leone, reports Xinhua.

Infosys on Tuesday announced the termination of the services of Abraham Mathews, chief financial officer (CFO) of its business process outsourcing (BPO) subsidiary, for non-compliance with the model code of conduct. The company also said Gautam Thakkar, chief executive officer of Infosys BPO, had quit, taking moral responsibility for the incident.

While Infosys did not elaborate on the said violation, sources close to the development said Mathews had failed to bring to the company's notice financial irregularities at one of its BPO centres. They added Mathews wasn't directly involved in the irregularities, but had failed to report the incident.

The Securities and Exchange Board of India (Sebi) is learnt to be working on facilitating settlement of enforcement proceedings even before formal showcause notices are issued.

According to people privy to the matter, the regulator is considering a mechanism through which it would send its basic findings to the entity under scrutiny, by way of a basic notice, before issuing a formal enforcement showcause notice. The basic notice will ask if the entity wishes to settle the proceedings through the consent mechanism.

Tata Power today said it has raised Rs 1,500 crore through issue of securities. It has issued two series of Non- Convertible Debentures (NCDs) worth Rs 1,500 crore on a private placement basis.

In a statement, Tata Power said the proceeds would be used for general corporate purposes of the company, including repayment of maturing foreign currency convertible bonds, capital expenditure and working capital.

The number of Indian students studying in the US has risen by 28% since October 2013.

Data from the Student and Exchange Visitor Program (SEVP), a program within the US Immigration and Customs Enforcement (ICE), says there are currently 1.11 million F & M students studying in the United States. 30% of all F & M students originate from China, followed by 12% from India.

Indian Oil Corporation (IOC) is reportedly planning to set up an ethylene derivative plant at its Paradip refinery complex in Orissa with an investment of Rs 4000 crore. “Indian Oil is also evaluating the feasibility of setting up of ethylene derivative plant at an estimated cost of nearly Rs 4000 crore,” said Dharmendra Pradhan, Union Minister of State for Petroleum and Natural Gas, during the foundation laying ceremony for IOC’s Rs 3150 crore polypropylene (PP) plant at Paradip on November 16, 2014.

This will indeed act as a catalyst in the socio economic development of the country and the state in particular. The ethylene plant will provide products that will facilitate manufacturing of polyester chips, fibres, PET bottles, PET chips, polyester yarn, etc.

Benchmark share indices remained rangebound after the first hour of trade as gains in Bharti Airtel and index heavweight Reliance Industries helped offset losses in IT majors and HDFC.

At 10:45AM, the 30-share Sensex was up 64 points at 28,242 and the 50-share Nifty was up 12 points at 8,443.

It is going to be a wedding made in heaven for Arpita Khan, younger sister of actor Salman Khan and her beau Aayush Sharma, son of politician Anil Sharma. The wedding is scheduled to be held at the Falaknuma palace of Hyderabad, for two days -- Nov18 &19th.

Top Bollywood stars will be attending and Salman has left no stone unturned to please his younger sister. The superstar has booked the entire hotel for two days so that no one else can gatecrash the celebrations. The five star heritage, scorpion shaped Falaknuma on the top of a hillock in old city, which belonged to the last Nizam, is managed by the Taj Group. Located five kilometers from Charminar, Falaknuma was once the residence of sixth Nizam Mir Mahboob Ali Khan.

In March, the United Progressive Alliance (UPA) government did a smart thing. Or, so it appears in hindsight. After its multiple attempts to evince interest among investors for the shares of Indian Oil Corporation (IOC) failed amid internal protests against selling those cheap, it revived an old ghost called cross-holding.

Accordingly, the 10 per cent stake in the refiner, which the Cabinet had cleared for divestment, was placed with its cash-rich sister concerns Oil and Natural Gas Corp (ONGC) and Oil India Ltd (OIL). The 242 million shares, split equally between the two buyers, fetched the government Rs 5,340 crore at Rs 220 a share.

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