Business News

Reliance Industries has reopened 900 gas stations, which were shut down when state firms were selling heavily subsidised fuel, the head of the firm's refinery business, P. Raghavendran, said.

Growing world oil use will likely outpace the rate of new supplies in 2010, eroding the huge stockpiles of crude which have mounted around the world since the start of the global economic crisis.

India would have to carefully exit from its more than a year long accommodative monetary stance, though economic recovery is on course, one of the Reserve Bank's deputy governors said on Tuesday.

An investigation against illegal mining is under way in Orissa and 128 mines of various minerals have been asked to suspend operations, Mines Minister B.K. Handique told the upper house of parliament, a government press release stated on Tuesday.

(The following statement was released by the rating agency)
The consolidated financial metrics of Reliance Industries Ltd. (BBB/Negative/--), India's largest private sector company, could weaken over the next 12 months if the company proceeds with a proposal to acquire Netherlands-based LyondellBasell Industries AF S.C.A [ACCEIN.

China's energy firms are reducing gas supplies to industry to avoid having to cut off households during winter, but risking more factory shutdowns, dampening production and raising costs as shortages may worsen.

The government expects wheat supply and prices to remain manageable but the country may decide to import rice after the size of the harvest is known in two months, a top adviser of Prime Minister Manmohan Singh said on Tuesday.

Micro-blogging site Twitter is interested in making more acquisitions as it continues to grow in popularity, co-founder Biz Stone said on Tuesday.

The BSE Sensex shed 0.3 percent percent on Tuesday as lower global markets triggered profit taking in stocks such as Reliance Industries and ITC.

Reliance Industries has reopened 900 gas stations, which were shut down when state firms were selling heavily subsidised fuel, the head of the firm's refinery business, P. Raghavendran, said.

U.S. auto maker Ford Motor will launch a new car model in India every 12-15 months over the next five years, with its new Figo small car to drive a tripling of sales in 2010, its India head said Tuesday.

India can absorb nearly $100 billion in capital inflows, nearly double for what is on track this year, before it needs to take strong restrictive measures, one of the prime minister's top advisers said on Tuesday.

NEW DELHI (Reuters) The government expects wheat supply and prices to remain manageable but the country may decide to import rice after the size of the harvest is known in two months, a top adviser of Prime Minister Manmohan Singh said on Tuesday.

Capital controls to curb foreign inflows are not imminent but some easing measures could be partly reversed once the economic recovery is clearly established, head of treasury at Ing Vysya Bank, said on Tuesday.

The Bombay Stock Exchange (BSE), under the aegis of its youngest-ever chief executive and a new top team, is looking to list and innovate to win back market share lost to upstart rivals.

Jindal Steel & Power said on Tuesday its unit Jindal Power will be setting up a 1,600 MW hydro power plant on the tributary of Subansiri river in the north-eastern state of Arunachal Pradesh.

Shares of Japan Airlines Corp slid to a record low on Tuesday on growing investor worries that Asia's largest airline by revenue could face bankruptcy as it struggles to agree pension cuts.

Financial markets did a quick about-face from the previous session's patterns on Tuesday with stocks falling, the dollar recovering some losses and gold dropping back a bit from record highs.

Indian importers have bought small volumes of Australian wheat in recent weeks, the first such purchases in two years, but bulk purchases are unlikely as stockpiles amount to nearly 3 times reserve targets.

Reuters - Playboy Enterprises Inc will outsource most of the business operations of its namesake magazine in an effort to curb losses, the Wall Street Journal said on Tuesday.