Reliance Industries topples Indian Oil Corporation to become country's largest company in Fortune India 500 list
Boosted by its consumer-facing businesses like organised retail and telecom, Reliance Industries ended state-owned Indian Oil Corporation's (IOC) 10-year reign as India's largest company, topping the Fortune India 500 list
Fire at Bharat Petroleum refinery in Mumbai's Chembur leaves 1 critical, injures 45; locals felt tremors from blast
A massive fire broke out after a blast took place in Bharat Petroleum Corporation Limited refinery in Mahul, Chembur on Wednesday, leaving nearby buildings jolted.
RBI may sell dollars to oil companies directly against oil bonds.India's three big state-run oil retailers together hold oil bonds worth about $5 billion.
Credit rating agency Moody's lauds government decision to dole out Rs 35,000 crore to help OMCs like Indian Oil, HPCL and BPCL to tide over financial difficulties.
Congress has high stakes in Assembly elections, particularly in UP, where the last phase of polling ends on Feb 28, and does not want any "mood spoilers" before the polls.
The cut, the second straight this month could help to ease near double-digit inflation.
The companies cut petrol prices by about 3.2 percent earlier this month, the first reduction in retail prices in nearly three years and the first since prices were decontrolled in June 2010.
Here's a quick round-up of the major local and international business and economic news events.
The government is mulling a proposal to impose a "hefty" tax on diesel cars, which will raise the price of these models, as well as increase the price of diesel at the pump.