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India's growing economy to fuel oil demand: Opec
The Organisation of Petroleum Exporting Countries (Opec) has projected that a rise in India’s gross domestic product (GDP) would lead to increased oil consumption next year. India oil demand was not affected by the economic crisis in 2009, and next year’s oil usage is forecast to grow further. All sectors are seeking more energy and new vehicle registrations are expected to continue the fast growth of 2009. These factors would push up oil demand by 15 per cent, making it the fastest growing product in terms percentage rise, Opec said. generic levitra

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CFM Intl to set up training facility at Hyd airport
GMR Hyderabad International Airport Limited (GHIAL) has signed an agreement with aircraft engine manufacturer, CFM International (CFM), to establish a new CFM56 maintenance training centre to support its customers in the South Asian region.

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Shree Renuka Sugars jumps 4%
The stock jumped 4.24 per cent to Rs 227.65 to an all-time high, after the company acquired Vale Do Ivai SA (VDI), a Brazil-based sugar and ethanol firm. The acquisition includes two sugar and ethanol production facilities with a combined cane crushing capacity of 3.1 million tonnes per annum.
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RIL's Q2 tax provision may rise by Rs 263 cr: Auditors

Corporate giant Reliance Industries (RIL) today said its auditors have pointed out a possible increase of Rs 263 crore in its current tax provisions for quarter ended June 2009 due to the budgetary proposals of the central government. - RIL says it signed gas contract, only NTPC did not">RIL says it signed gas contract, only NTPC did not - RIL board meeting put off - NTPC not to implead in RIL-RNRL case: Brahma - Ministry wants more Reliance gas for new projects - NTPC not signing gas pact: RIL to power min - NTPC not signing gas deal: RIL to PowerMin Noting that provisioning for current tax was based on proposals in the Finance Bill (No.2) 2009, the auditors said in their review report for April-June quarter that "this has the effect of increasing provision for current tax for quarter by Rs 263 crore." Separately, auditors for Reliance Petroleum (RPL) said in their review report for the same quarter that current tax provisioning for the company may decline by Rs 27 lakh because of the Finance Bill proposals. The impact on RPL"s tax provision would be due to discontinuance of provision for Fringe Benefit Tax (FBT) as proposed by the Finance Bill (No.2), 2009. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit.


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