New Delhi: State-owned Indian Oil Corp (IOC) may raise about USD 3 billion more through US dollar bonds issue after the Reserve Bank permitted fuel retailers to raise an overseas loan to check fall in rupee value, its Chairman Sanjiv Singh said Wednesday.

IOC is already in market to raise USD 900 million through a bonds issue and is raising an equivalent sum through a syndicated loan for meeting its working capital requirements.

State-run Hindustan Petroleum Corp. Ltd (HPCL) may build its second liquefied petroleum gas (LPG) cavern in Mangalore, Karnataka, said two company officials, requesting anonymity. HPCL is planning to build an underground LPG storage facility and had been in talks with France’s national oil company, Total SA, to partner it. Total SA is also HPCL’s partner in the first LPG cavern in Visakhapatnam, Andhra Pradesh.

Southfield/Michigan/Frankfurt: The much-anticipated alliance announcement by Volkswagen AG and Ford Motor Co. left investors feeling let down as it lacked a big-bucks plan to join forces on electric vehicles and self-driving cars.

Wall Street was hoping for a blockbuster deal, such as the billions of dollars General Motors Co. landed for its self-driving unit from Honda and SoftBank Vision Fund last year.

Mumbai: With last minute-litigation delaying recovery of Essar Steel loan, State Bank of India (SBI) on Wednesday put on sale its Rs 15,431-crore exposure to the steelmaker on a full-cash basis. In the sale notice on its website, the bank said the aggregate reserve price for the bidding has been set at Rs 9,588 crore.

These include categories like working capital, term loan, corporate loan, export performance bank guarantee (EPBG) and standby letter of credit (SBLC).

Asia’s richest man and Reliance Industries’ Chairman Mukesh Ambani has as featured in Foreign Policy magazine’s 2019 annual list of the top ‘100 Global Thinkers,’ on the back of a ‘smartphone revolution’ brought about by his telecom venture Reliance Jio. “With a fortune of $44.3 billion, Mukesh Ambani displaced Jack Ma in 2018 as Asia’s richest man. Ambani’s fortune comes from his holdings in the oil, gas, and retail sectors, but he’s likely to make his biggest impact on India through his new telecom venture Jio,” Foreign Policy magazine said.

In the wake of recent fradulent transactions, HDFC Bank has issued an alert to its customers asking them to stay safe. Recently, many incidents of bank frauds have ben reported across the country. In many of these instances, customers unknowingly shared their sensitive banking information with third parties under impression they are calling from their respective banks.

With the growing usage of online and mobile banking, customers are given thorough guidelines from the respective banks so they can develop a habit of safe and secure banking.

Actor-politician Kamal Haasan on Wednesday said his party was willing to join hands with like-minded parties who are against corruption and focused on making Tamil Nadu a progressive state.

"The Makkal Needhi Maiam (MNM) is ready to join hands with those parties, who dream to make Tamil Nadu a progressive State and also corruption-free," Haasan told reporters at nearby Pollachi after inaugurating the party office there.

Finnish telecommunication giant Nokia on Tuesday announced its plans to cut jobs, media reported.

Nokia gave 350 as a layoff target in Finland, and said the figures in France and Germany would be higher, but did not specify.

India will not share the limited supply of Iranian crude allowed under a U.S. waiver from sanctions with private refiners, according to people with knowledge of the matter. That is a departure from the earlier practice of splitting exempted volumes.

The government has asked its four state refiners led by Indian Oil Corp. to share the entire 9 millions barrels of Iranian oil available every month under a 180-day waiver from U.S. sanctions, the people said, asking not to be identified.

Shares of Indiabulls Integrated have locked in the upper circuit of 5 per cent at Rs 332 apiece on the BSE after the company announced that Indiabulls Life Insurance Company got the preliminary nod from Insurance Regulatory and Development Authority of India (IRDAI).

“The Company’s wholly owned subsidiary, ‘Indiabulls Life Insurance Company Limited’ has received regulatory R1 acceptance from Insurance Regulatory and Development Authority of India (IRDAI) for its proposed life insurance business,” Indiabulls Integrated Services said in a regulatory filing.

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