Reliance Industries has asked its partner Niko Resources to withdraw from eastern offshore KG-D6 gas block over default in payments for field development cost, but the Canadian firm has sought to stall the move by invoking arbitration, the companies said.

Niko, which defaulted on payment of loans to its lenders,

Today, more than 800 million people around the world suffer from hunger. In India, front-line health workers are responsible for tracking 40-60 kids within their intervention areas, but they don’t have the training or resources to accurately assess their overall nutrition. Towards this, a Germany-based private aid agency Welthungerhlife has launched a unique project in India to help address malnutrition in children with a cloud-based,

Digital technologies are transforming our world. Enterprises are adopting data-driven decision making models, while customers are communicating via mobile and social media platforms. In India too, we are seeing rapid adoption of mobile Internet, cloud technology, digital payments, digital identity, etc.

While private sector enterprises are at the forefront of this digital transformation, the good news is some of the state-owned entities are going full throttle to transition into this ‘Digital world’.

Mehul Choksi, one of the key architect of the Rs 14,000 crore PNB fraud has surrendered his Indian citizenship. Absconding Choksi is currently in Antigua where he took citizenship last year. He has deposited his Indian passport to the Antiguan authorities. Passport number Z. 3396732 has been deposited with cancelled pages. He has also deposited the mandatory $177 dollar for leaving Indian citizenship.

The rupee slipped 29 paise to 71.48 against the US dollar in early trade on Monday amid positive Asian equities and decline in crude oil prices. The domestic unit Friday weakened by 16 paise to close at 71.19 per dollar.

Rupee fell in the later half of the session on Friday primarily as global crude oil prices continued to rally after supply cuts led by OPEC supported prices, said Gaurang Somaiya, Research Analyst (Currency) at Motilal Oswal Financial Services (MOFSL).

Shares of Larsen & Toubro (L&T) recovered after falling 3 per cent to Rs 1,275 apiece on BSE even as the Securities and Exchange Board of India (Sebi) denied approval to the company’s Rs 9,000-crore share buyback plan, citing compliance issues over its post-buyback debt-equity ratio.

Engineering major Larsen & Toubro (L&T) Saturday said market regulator Sebi has denied permission for its Rs 9,000 crore share buyback offer. In a regulatory filing to stock exchanges, L&T said the Securities and Exchange Board of India (Sebi) has asked it not to proceed with the buyback.

The rupee on Friday weakened by 16 paise to close at 71.19 against the US dollar amid rise in demand for the greenback from exporters and unabated increase in global crude oil prices.

This is the second successive week of loss for the Indian currency. During the week the domestic unit registered a loss of 27 paise. In the previous week, the local unit had slumped by 81 paise.

Markets closed marginally higher on Friday after a volatile session as investors largely stuck to index heavyweights despite positive global cues.

The BSE Sensex settled 12.53 points, or 0.03 per cent, higher at 36,386.61. The broader NSE Nifty inched up 1.75 points, or 0.02 per cent, to 10,906.95.

Prime Minister Narendra Modi Saturday inaugurated the Armoured Systems Complex of Larsen and Toubro in Gujarat, the first private facility in the country where the K9 Vajra self-propelled Howitzer guns will be manufactured.

L&T had in 2017 won the Rs 4,500-crore contract from the Ministry of Defence to supply 100 units of K9 Vajra-T 155 mm/52 calibre tracked self-propelled gun systems to the Indian Army under the Centre's 'Make in India' initiative.

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