OPEC lowers its projection for 2015 crude oil production
OPEC has lowered its projection for 2015 crude oil production to 28.9 million barrels a day, a 300,000 fewer than previously forecast and a 12 Year low due to burgeoning supply from North America and other rising producers.
Bank of Maharashtra proposes to issue AT1 Basel III compliant BondsBank of Maharashtra announced that the Bank is proposing to issue AT1 Basel III compliant Bonds of Rs500 crore with Green Shoe Option of Rs500 crore.
The Bank is calling for quotes / bids from merchant bankers / arrangers to participate in the above issue.
NMDC signs MoU with Acron
NMDC-led consortium of four state-run companies and one cooperative signed an agreement to buy 30% stake in Russian fertiliser producer ACRON's $2-billion potash mine project NMDC will have 15% stake in the project, the remaining 15% will be shared among Rashtriya Chemicals and Fertilizers (RCF), Kribhco, FACT and National Fertilizers Ltd.
Alstom T&D secures order from MSETCL
Alstom T&D India has secured orders of around Rs246.20 crore (32 million euros) from Maharashtra State Electricity Transmission Co. Ltd. ( MSETCL) to build 400/220kV grid substations at Kudus, Alkud, and Kondhwa in Maharashtra. The substation will strengthen the 220kV transmission network as part of Maharashtra's 12th Five Year Plan to strengthen the transmission system and enhance the capacity of power evacuation systems.
Reliance names Rix as its arbitrator in gas dispute
Reliance Industries has named former UK judge Sir Bernard Rix as its arbitrator in the KG-D6 cost recovery dispute with the government in place of former Chief Justice of India S P Bharucha who quit last week.RIL gave the name of Rix, who recently retired as Lord Justice of Appeal with 20 years experience in the Commercial Court and the Court of Appeal, earlier this week.
Suven Life jumps on bagging product patents
Suven Life Sciences rose 7% touching to Rs224.6, after the company said it secured five product patents for their new chemical entities in Israel, Japan, China and New Zealand.
Suven Life Sciences (Suven) has announced that the grant of two product patents from Israel, one product patent from Japan, one product patent from china and one product patent from New Zealand corresponding to the new chemical entities ( NCEs) for the treatment of disorders associated with Neurodegenerative diseases and these patents are valid through 2027, 2028, 2029 and 2030 respectively.
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