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'Indian sites prone to cyber-attacks by Pakistan during key events': CIA-backed company

Feb 12, 2016 at 11:36 | Source: FirstPost

Washington: India-Pakistan rivalry has spilled over into cyberspace through hacktivism and even "state-sponsored" attacks with popular Indian websites more prone to such strikes during high-profile events like cricket matches and Independen...

Low crude price dents India's ONGC profit | Reuters

Feb 11, 2016 at 23:30 | Source: FirstPost

NEW DELHI/MUMBAI India's biggest explorer Oil and Natural Gas Corporation Ltd posted a 64 percent drop in quarterly profit, hit by a a 40 billion rupees ($584.62 million) one-time impairment charge on producing assets due to a sharp fall in the crude...

ONGC aims for new drilling contracts in cost-saving drive - sources| Reuters

Feb 11, 2016 at 05:15 | Source: FirstPost

MUMBAI India's Oil and Natural Gas Corp (ONGC.NS) hopes to agree new cheaper drilling contracts for its western offshore fields, two sources involved in the matter said, in its biggest ever cost-saving drive in response to lower crude prices.The stat...

India seeks UAE investment in energy sector| Reuters

Feb 11, 2016 at 00:45 | Source: FirstPost

NEW DELHI India has invited investments from the United Arab Emirates in a slew of oil projects as part of Prime Minister Narendra Modi's drive to attract greater foreign participation in upgrading and expanding the South Asian nation's stretched inf...

Charts: Why economists doubt 7.6% GDP growth estimate for FY16

Feb 09, 2016 at 08:32 | Source: FirstPost

By Dinesh Unnikrishnan and Kishor KadamIndias Gross Domestic Product (GDP), for fiscal year 2016 has been revised upwards from earlier estimates of 7-7.5 per cent projected in mid-year economic review to 7.6 percent and as compared with revised estim...

Charts: Why economists take 7.6% GDP growth estimate for FY16 with a sack of salt

Feb 09, 2016 at 07:38 | Source: FirstPost

By Dinesh Unnikrishnan and Kishor KadamIndias Gross Domestic Product (GDP), for fiscal year 2016 has been revised upwards from earlier estimates of 7-7.5 per cent projected in mid-year economic review to 7.6 percent and as compared with revised estim...

Growth worries, rate hike uncertainty pull Wall Street down| Reuters

Feb 09, 2016 at 04:15 | Source: FirstPost

U.S. stocks dropped on Monday as concern over global growth hit banks and other economically sensitive shares, although a late rally in energy shares left the market well above its lows of the day.European banks led a global selloff in financial stoc...

Indias full year GDP revised upwards to 7.6 percent; economists skeptical

Feb 08, 2016 at 18:42 | Source: FirstPost

Dinesh Unnikrishnan and Kishor KadamIndias Gross Domestic Product (GDP), for fiscal year 2016 has been revised upwards to 7.6 percent as compared with revised estimate of 7.2 per cent in the previous fiscal year, aided largely by the growth in the ma...

As Big Oil shrinks, boards plot different paths out of crisis| Reuters

Feb 07, 2016 at 14:15 | Source: FirstPost

LONDON/HOUSTON As oil and gas companies cut ever-deeper into the bone to weather their worst downturn in decades, boards have adopted contrasting strategies to lead them out of the crisis.Crude prices have tumbled around 70 percent over the past 18 m...

Govt gets cracking on cheap imports, imposes minimum import price on 173 steel products

Feb 06, 2016 at 13:14 | Source: FirstPost

Giving relief to domestic steel producers against cheap in-bound shipments, the government on Friday imposed a minimum import price (MIP) on 173 steel products ranging between $341 to $752 per tonne (nearly Rs 23,065.24- 50,865.28)."MIP is intro...

Vedanta posts 99 pct slump in quarterly profit on weak commodity prices | Reuters

Jan 29, 2016 at 00:15 | Source: FirstPost

MUMBAI Indian resources group Vedanta Ltd (VDAN.NS) posted a 99 percent plunge in third-quarter profit on Thursday due to lower global commodity prices, although it beat analysts' forecasts for a net loss.The company said it expects its cost-cutting ...

Taiwan president visits island in disputed South China Sea despite criticism from ally US

Jan 28, 2016 at 12:27 | Source: FirstPost

Taipei, Taiwan: Taiwan's president, defying criticism from key ally the United States, visited to an island holding in the disputed South China Sea on Thursday and called for peaceful development in the increasingly tense region.Accompanied by about ...

Insight - Plaintiffs' lawyers wary of taking on Flint water scandal| Reuters

Jan 26, 2016 at 04:30 | Source: FirstPost

The water scandal in Flint, Michigan has many of the ingredients for a mass, class-action lawsuit: danger signs that may have been ignored, many thousands of potential victims, the possibility of lifelong health problems, and the alleged systemic fai...

Insight - After sanctions, Iranian and foreign firms await the good times | Reuters

Jan 24, 2016 at 23:16 | Source: FirstPost

DOHA A decade ago, Foad Fanaei packed his belongings and left sanction-hit Iran in the hope that the family's engineering firm would thrive in Qatar.Starting up in the Gulf Arab state proved to be hard for a 27-year-old outsider who had to grapple wi...

California gas leak spotlights shoddy regulation of aging storage wells| Reuters

Jan 23, 2016 at 22:46 | Source: FirstPost

Long before a natural gas storage well sprung a disastrous leak near Los Angeles, California, utilities and national industry groups were raising alarms about the danger of aging underground storage infrastructure. The leaking wells owner, Southern C...

On Iran-Saudi rift, Gulf Arab states tread with caution| Reuters

Jan 11, 2016 at 23:16 | Source: FirstPost

DOHA Gulf Arab states rallied dutifully behind Saudi Arabia when it cut relations with Iran last week, recalling their ambassadors and cancelling flights to Tehran in solidarity with the oil-rich kingdom after its embassy in Iran was torched by prote...

Reliance Industries faults Shah panel engagement on gas dispute

Jan 11, 2016 at 12:10 | Source: FirstPost

Reliance Industries (RIL) has faulted the constitution of the Justice Ajit Prakash Shah panel by the government to decide the company's KG Basin gas dispute with state-run ONGC, saying this was without legal basis and that arbitration alone can decid...

DBT may have saved just Rs 15,000 cr for Modi govt but potential is Rs 70,000 cr a yr

Jan 06, 2016 at 13:17 | Source: FirstPost

By Dinesh Unnikrishnan and Kishor KadamManaging large chunks of subsidy payments is always a nightmare to finance ministers as they sit down to formulate the budget documents. Subsidies punch a hole in government balance sheets.Thats precisely the re...

Oman sets plan to halve oil's role in economy| Reuters

Jan 03, 2016 at 22:30 | Source: FirstPost

MUSCAT Oman's government has released a five-year plan to halve the economy's dependence on the oil industry as low crude prices pressure government finances.The 2016-2020 plan, set out in a statement by the Supreme Council for Planning late on Satur...

Big oil to cut investment again in 2016| Reuters

Jan 03, 2016 at 21:30 | Source: FirstPost

LONDON With crude prices at 11-year lows, the world's biggest oil and gas producers are facing their longest period of investment cuts in decades, but are expected to borrow more to preserve the dividends demanded by investors.At around $37 a barrel,...

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