RIL may see a dip in its refining margin due to overcapacity world wide. Note that its main RIL Jamnagar Refinery is an Export Oriented Refinery and due price pressure in its petrochemical business, RIL’s refining margins may end up anywhere between $6.6 to $7.4. Compare it with Benchmark Singapore complex refining margin of $3.3/bbl, and the final figure would depend on the margins its new project is able to earn. Contribution of its refining and petrochemical business to its overall business is falling. Continue reading RIL Refining Margin Down Due To Global Overcapacity
Category Archives: Business
Indian Railways Introduces Duranto Trains On Key Lines
The Indian Railways has decided to put a break on its plan to increase the number of iconic Rajdhani Trains. This has been done in a bid to accommodate Duranto trains, which are planned to start for Nagpur-Mumbai, Delhi-Lucknow/Allahabad and Mumbai-Ahmadabad, within a month and a dozen more are in the plans.
These trains would be with AC as well as Non-AC coaches, the traveling time is shorter and would connect short-haul city pairs without halting in between. The fares are also lesser than Rajhdhani trains. Overall a great advantage for customers. Continue reading Indian Railways Introduces Duranto Trains On Key Lines
Tech Fests Still Popular With Indian Industry Despite Cost Cutting
While the global economic slowdown is making everyone cut costs, the Technical Festivals (often called Tech Fests) across India’s premier institutes are still getting their share of money. This time though there has been a shift from IT companies to sector specific companies. Continue reading Tech Fests Still Popular With Indian Industry Despite Cost Cutting
Is US Dollar Losing Steam as Global Currency for Oil Trade?
The US Dollar has weakened on growing concerns that middle east Gulf Oil trading countries might opt for a basket of currencies instead of US Dollar. This is based on a supposedly secret meeting of the oil trading countries with the officials outside the region to discuss dropping the dollar for oil trade. A change from dollar to other currencies has both economic and political aspect; it is less likely that this would happen quickly as there is lack of consensus on econo-political issues such as the Gulf Monetary Union. Continue reading Is US Dollar Losing Steam as Global Currency for Oil Trade?
Foreign Direct Investment (FDI) into India crosses $100 bn
New Delhi: Foreign Direct Investment (FDI) into India has crossed $100 bn mark to reach $100.33 bn since July 2000. This financial year has seen inflow of $10.5 bn. About 44% of the total investment has taken the Mauritius route due to India’s double taxation avoidance treaty with Mauritius. Investors worldwide are looking to invest in India because of 2 key reasons: Continue reading Foreign Direct Investment (FDI) into India crosses $100 bn