Oil and Natural Gas Corporation (ONGC) is in the process of investing Rs 22,500 crore in redevelopment projects, to add capacity of 16.7 million tonnes of oil and 56 billion cubic metres of gas, Chairman and Managing Director D K Sarraf said on Monday.

"(In 2014) we launched Mumbai High North Redevelopment Phase-III, Mumbai High South Redevelopment Phase-III, integrated development of the Bassein, Mukta and Panna formations and Daman development," he said at a Republic Day function at ONGC's headquarters here.

A police constable and a woman, suspected to be a suicide bomber, were killed and 16 others, including lawyers, injured in a bomb blast at the Ara civil court in Bihar on Friday.

Additional Director General (ADG) of Police (Headquarters) Gupteshwar Pandey told PTI the explosion took place around 11:30 am, when a van carrying undertrials entered the court premises.

Internet retailer Amazon and its fast-growing local rivals are driving a boom in commercial property leasing in India as their storage needs rise, with shoppers in the country going online to buy everything from televisions to groceries.

Demand from e-commerce firms, a tiny fraction of India’s retail industry, accounted for as much as 40 per cent of 1.7 million square feet of warehouses leased in 2014 – a seven-fold increase from 2013, according to consultants CBRE South Asia. Warehouse rents have risen by a quarter over the past year.

The benchmark indices hit lifetime highs on Friday after the European Central Bank (ECB) announced a monthly bond-buying programme of 60 billion euros. The BSE benchmark Sensex closed at a record high of 29,278.24 points, while NSE’s Nifty closed above the 8,800-mark. The Sensex ended the week with gains of over 4%.

On Friday, foreign institutional investors (FIIs) bought shares worth $336.66 million worth of shares, while the domestic institutional investors sold shares worth $216 million. In YTD, FIIs have bought $1.2 billion worth of shares.

With the prospects of conducting ONGC stake sale getting grimmer and an urgent need to achieve its FY15 disinvestment, the government has lined-up stake sale in four state-owned companies – Indian Oil Corporation (IOC), Bharat Heavy Electricals (BHEL), National Aluminium (Nalco), and Dredging Corporation (DCIL) for the current financial year.

On Thursday, the department of disinvestment (DoD) floated proposals seeking merchant bankers’ assistance in selling 10% stake each in IOC as well as Nalco, and 5% stake each in BHEL and DCIL.

Mumbai: State Bank of India (SBI) on Friday said it has signed a loan agreement for €100 million with the European Investment Bank (EIB), a long-term lending institution of the European Union.

The loan will be utilised for lending to private businesses in India, SBI said in a statement.

DAVOS: Finance Minister Arun Jaitley on Friday hinted at not raising tax rates and providing incentives to manufacturing in the coming Budget while asserting that " structural changes" will have to be made to get the economy to 8-9% growth.

Hard-selling India to global investors at the World Economic Forum here, he also promised a stable tax regime that will not come up with unreasonable demand and change taxes retrospectively.

MUMBAI: The Maharashtra Coastal Zone Management Authority (MCZMA) has permitted Air India to reinstall the logo on top of its building at Nariman Point.

A high-level meeting of the MCZMA presided over by its chairman and environment secretary Ajoy Mehta approved a record number of 35 proposals, including the re-installation of the Air India logo and proposed rerouting of the Mumbai-Manmad pipeline section passing through the Vashi creek, Ulhas river and its streams.

Tata Motors-owned Jaguar Land Rover (JLR) has helped Britain clock up its best car production data in years with the luxury car maker rolling off nearly 4,50,000 vehicles of total 1.5 million produced in the country last year, the highest since 2007.

Car plants across the UK produced more than 1.5 million vehicles last year with JLR rolling off 4,49,507 vehicles from its three plants in Castle Bromwich, Halewood and Solihull in northern England.

Aiming to expand its userbase, popular messaging app WhatsApp has unveiled its web browser version that allows users to access it on their personal computers.

With over 600 million users globally, WhatsApp till now was available only on smartphones across operating systems Android, iOS, Windows and BlackBerry.

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