KUALA LUMPUR: Indian Oil CorporationBSE -1.11 % Ltd (IOCL) said it is in initial talks with Saudi Aramco on downstream investments, including a mega project on its west coast, that could help the OPEC member lock-in customers amid an oil supply glut.

Oil producers are targetting growing demand in Asia to boost market share after rising US shale oil output has displaced some of their supplies.

NEW DELHI: The defence ministry seems to have unlocked the strategic partnership (SP) logjam with a firm push from the Prime Minister’s Office and sustained focus by defence minister Arun Jaitley, setting up the private sector to play a major role in the production of weapons systems for the armed forces.

A tussle within the bureaucracy over what rules the SP model would follow had resulted in a stalemate within the ministry since February 2016, frustrating leading private sector companies that were expecting to get mega production orders for aircraft, submarines and land systems, a traditional stronghold of the public sector.

India s largest lender SBI on Monday announced a steep reduction of 25 basis points in affordable housing loans to 8.35% for new borrowers.

Under the new government scheme, loans under Rs 30 lakh qualify for affordable housing.

The benchmark Sensex gained over 78 points and the NSE Nifty reclaimed the 9,300-mark in early trade today on widespread gains tracking a firm trend in Asia.

The 30-share index was trading higher by 78.22 points, or 0.26%, at 29,937.02 with all the sectoral indices led by consumer durables, auto, capital goods and healthcare, trading in the positive terrain by gaining up to 0.66%.

Maruti Suzuki India (MSI) is preparing for a bigger role in product development programme of parent Suzuki, buoyed by the success of Vitara Brezza in which its engineers took the lead.

From beginning to work on minor changes on erstwhile model Zen in 2000 to a full body change of small car Alto in 2008-09 and ultimately being asked to develop a vehicle on a given platform and an engine, MSI has been enhancing capability of its engineers.

SP chief Akhilesh Yadav has expelled five party leaders, including uncle Shivpal Yadav loyalist Deepak Mishra, in what is being viewed as the start of another round of feud in the Yadav family.

Former SP general secretary Mishra, ex-party spokesperson Mohammad Shahid, Rajesh Yadav of Hardoi, Ramesh Yadav and Kallu Yadav of Noida have been expelled on the directions of the SP national president for alleged anti-party activities, its state unit chief Naresh Uttam said.

Software major Wipro stepped up security at all its offices following an e-mail threat to send a toxic drug to its campus here, the company said on Saturday.

"We have augmented security measures at all office locations, though there is no impact on our operations," said the city-based IT firm in a statement.

BJP President Amit Shah on Saturday claimed that his party would oust Tripura's ruling Left Front in the assembly elections due next year to form a government on its own in the northeastern state.

"We would not forge any electoral alliance with any party in Tripura. With BJP's own strength the party would form government in the state ending the 25-year rule of CPI-M led Left Front," he told reporters.

Dhamra, a deep-draught port off the coast of north Odisha owned by Adani Ports & Special Economic Zone (APSEZ) has turned profitable after nearly six years. The port had kicked off commercial operations in May 2011.

A senior Odisha government official said, the port has achieved break even with a profit of Rs 180 crore in 2016-17. Dhamra port’s total earnings crossed Rs 900 crore in the last financial year with the port paying Rs 75 crore as revenue share to the state government. A concession agreement signed with Dhamra Port Company Ltd (DPCL), the special purpose vehicle (SPV) formed for port operations, says the state government is entitled to eight per cent of revenue share after the port completes five years in commercial operations.

A major accident was averted when an IndiGo flight on Saturday morning came in contact with an aerobridge, while being marshalled to the parking spot at Jaipur Airport.

The Airlines later released a statement asserting that no injury was reported in the incident.

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