Offshore

The auction of 13 blocks, which have cobalt, copper, manganese, and nickel reserves, has been put off at least four times. The latest was August 22

India offers 26 oil, gas blocks in mega offshore round

Simultaneously, 16 areas for prospecting for coal-bed methane (CBM) are also being offered in a separate round.

Shell-Reliance give up Panna-Mukta fields; western offshore fields to revert to ONGC

Panna-Mukta and Tapti (PMT) oil and gas fields in the Arabian Sea off the Mumbai coast were in 1994 awarded a consortium of US energy giant Enron and Reliance. ONGC, which had originally discovered the fields, as a government nominee given 40 per cent back-in rights.

Policy | Offshore to onshore forex market: A bridge way too far

The Usha Thorat committee on the subject stops short of suggesting capital account convertibility.

SCI hopes for better Q3 on strong tanker segment, expansion plan

In an interview with CNBC-TV18, Anoop Sharma, Chairman and MD of SCI, said the second quarter of this financial year was weak due to the decline in the earnings of the tanker segment. The offshore fleet was also not utilised due to the monsoon adding to the losses in the second quarter.

Brexit shock may boost, not hinder, yuan internationalisation

London's role as a major offshore yuan hub is likely to survive Britain's decision to leave the European Union, but the vote could help foster the Chinese currency's internationalisation by encouraging multiple yuan hubs in the bloc.

India, US to collaborate on tackling offshore tax evasion

The statement was issued after Jaitley and Lew co-chaired the 6th US-India Economic and Financial Partnership (EFP) here on the sidelines of the annual Spring Meeting of the International Monetary Fund and the World Bank.

Did 'smart people' avoid the Panama Papers?

Offshore accounts are a traditional way for the wealthy to diversify the location of their investments, benefit from lower tax rates or enjoy lower regulatory oversight.

China's currency market turmoil: What you need to know

While China has slowly been opening its markets, the country still doesn't allow a completely free flow of capital across its borders.

Dolphin Offshore to acquire 2 vessels for $70 mn in 2 years

Navpreet Singh, CFO of Dolphin Offshore says the new vessels are more multipurpose, technologically advanced ships that will be delivered in next two years.

Offshore India funds, ETFs see USD 1-bn inflow in Sep qtr

India-focused offshore funds and exchange-traded funds (ETFs) registered a net inflow of over USD 1 billion in July-September 2014, signalling growing interest by foreign investors in the country's growth story.

Will diesel price deregulation drive re-rating for OMCs?

Sudhir Vasudeva, former chairman and managing director of ONGC says cost of gas production needs to be raised from USD 4.4 mmBtu soon. He believes gas pricing is the biggest issue faced by oil and gas companies now and an increase in prices is a must at this point.

Offshore wind mkt next key trigger for debt-ridden Suzlon?

Suzlon‘s Finance Group Head, Kirti Vagadia said that the company has order backlog of worth USD 1.2 billion in the offshore segment. From FY16 onwards revenue of 2 billion euro per megawatt is likely to start flowing into the company‘s books.

TCS has no room for error; maintain neutral: Espirito

In its latest report, Espirito Santo said that though TCS‘ margins are currently close to all-time highs, yet they believe that it is driven more by scale benefits, which is significantly larger than peers.

Offshore Providers Without A Cloud Strategy Risk Future Growth: Gartner

Cloud-based services will not replace offshore services, but will complement them, says Gartner.

Rupee's plunge drives up offshore debt costs for India Inc

Many firms in capital-intensive industries such as infrastructure, manufacturing and metals that borrowed in offshore markets lack an overseas income stream to buffer their currency exposure, and the impact is expected to become clear in the current reporting season

Wipro hikes offshore salary by 6-8%; onshore by 2-3%

Wipro has hiked salary of offshore employees by an average 6-8 percent and of of onshore employee by 2-3 percent effective June 2013.

Shipping outlook bleak; offshore biz robust: GE Shipping

G Shivakumar, CFO, GE Shipping, says that the outlook does not look very good on the shipping side. Our earnings have been very low in dry bulk. The offshore continued to be quite strong over the last couple of years, especially driven by the price of oil and the kind of developments that is happening offshore.

Preparing For GAAR!

India first met the General Anti-Avoidance Rule or GAAR in the Direct Taxes Code Bill, introduced in parliament on August 30, 2010. But before the Bill could become law, GAAR did; hurried along by then Finance Minister Pranab Mukherjee in the 2012 Budget.

P K Borthakur takes over as ONGC Director (Offshore)

State-owned Oil and Natural Gas Corp (ONGC) today said P K Borthakur has taken over as the company's Director (Offshore).

New Offshore Locations For IT Services Emerge As Global Delivery Models Evolve

Business opportunities are growing in emerging markets, and this is causing organisations to reassess their global delivery choices, says Gartner.

Hexaware Q2 net profit up 48% YoY at Rs 89 cr

Software services provider Hexaware Technologies' second quarter consolidated net profit rose better-than-expected 48% year-on-year (0.8% sequentially) to Rs 89 crore, helped by continued demand for outsourcing services even as the global macro-economic conditions remain tough.

See improvement in LPG, offshore markets in FY12: Varun Ind

In an interview with CNBC-TV18 Yudhishthir Khatau, MD, Varun Shipping spoke about the performance of the company and the road ahead.

Infinite Computer targets 30% revenue growth in FY12

Infinite CompIn an interview with CNBC-TV18, Upinder Zutshi, MD of Infinite Computer Solutions spoke about the quarterly numbers of the company and the road ahead.