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  • Cairn India Q3 profit plunges 99 percent on low crude prices | The Financial Express
    Court has directed the parties to exchange the requisite information documents and to communicate in a time bound manner In an encouraging development Government has also supported the industry s view on rationalising the Cess charges given prevailing low oil prices it said Cairn India s exploration and production licence for the Rajasthan block expires in 2019 and the company is seeking a 10 year extension The government is considering its request for extension of the Production Sharing Contract PSC Chief executive Mayank Ashar said We maintain our strategic objective of generating healthy free cash flow which has been successfully guiding us through the constantly deteriorating oil pricing scenario Our unwavering commitment to improve cost efficiency continues to help us to navigate through the weak oil price situation and to generate free cash flow He said the world s largest EOR project at Mangala field in Rajasthan is yielding results We continue to pursue pre development activities for our growth projects to make them future ready for rapid development on oil prices rebound Cairn said gross production from Rajasthan block was 170 444 barrels of oil and oil equivalent gas up 1 4 per cent over previous quarter due to ramp up in Mangala EOR and additional volumes from new infill wells coming online at Aishwariya field During the quarter a total of 15 1 million barrels of oil was sold at an average rate of 163 869 barrels per day Raageshwari field continued the gas production at an average of 28 million standard cubic feet per day in the third quarter of 2015 16 During the quarter Salaya Bhogat Pipeline SBPL storage terminal and marine export facilities at Bhogat were commissioned and consequently first cargo of Rajasthan crude oil was successfully loaded through the terminal for Mangalore Refinery and Petrochemical Ltd MRPL We are generating superior realisation through this sale the statement said Cairn said it had a cash and cash equivalents of Rs 18 470 crore USD 2 8 billion at the end of the third quarter On merger of the company with its parent Vedanta Ltd the statement said the company is seeking directions of the Bombay High Court for convening meeting of all our relevant stakeholders Cairn India continues to remain committed to creating long term shareholder value Planned net capital investment for FY16 is USD 300 million 62 per cent in core Mangala Bhagyam and Aishwariya MBA fields in Rajasthan the statement said First Published on January 22 2016 8 13 pm Tags Cairn India Oil Prices Please Wait while comments are loading More on this story Cairn India wants govt to reduce oil cess before Budget Oil prices up as weak dollar offsets supply concerns Crude oil prices steady in thin Asian trading ahead of Lunar New Year Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto

    Original URL path: http://www.financialexpress.com/article/industry/companies/cairn-india-q3-profit-plunges-99-percent-on-low-crude-prices/200428/ (2016-02-08)
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  • Print: XL Catlin applies for reinsurance license in India – The Financial Express - Page 99
    over recent years leading it to overtake China in terms of GDP growth across 2015 Economic reforms and improved infrastructure have led to a growing middle class and increased private consumption which in turn benefits the local economy and helps to raise living standards Commenting on the announcement Greg Hendrick XL Catlin s Chief Executive of the Reinsurance segment said I am extremely pleased to have Brendan Plessis our Head of Emerging Markets leading our team effort to establish a business in India The development we re seeing means that the market represents significant opportunities for XL Catlin I believe we have what it takes to respond to the reinsurance needs of companies and brokers in this vast growing economy We find that in India there is a huge desire to have seamless access to reinsurance capacity The local market needs a reinsurer with global scale and technical capabilities with underwriters based locally who understand the risks and can offer breadth of product added Greg Mike McGavick XL Catlin s Chief Executive Officer said The re insurance market in India is primed for development This is the right time for us and getting the right people on the ground offering

    Original URL path: http://www.financialexpress.com/article/industry/insurance/xl-catlin-applies-for-reinsurance-license-in-india/200246/99/print/ (2016-02-08)
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  • 4G: Anil, Mukesh Ambani telecom firms in pact for spectrum trading, sharing | The Financial Express
    22 circles which it acquired in 2010 It added 1800 Mhz in 18 circles and 800 Mhz in 10 circles The 800 Mhz band will allow it to a rollout of 4G LTE services which offers good coverage indoors and provides seamless voice services through VoLTE The deal between RCom and RJio is the second spectrum trading agreement after Idea Cellular s pact to buy spectrum from Videocon in two circles for Rs 3 310 crore The spectrum arrangements between Jio and RCom will result in network synergies enhanced network capacity and will optimise spectrum utilisation and capex efficiencies Both operators anticipate considerable savings in operating costs and future investment in networks RCom said RJio needed spectrum in 800 and 1800 MHz band due to signal attenuation inherent in the 2300 MHz frequency range 800 MHz band allows easy propagation through multiple wall structures compared to signal penetration of less than a kilometer through the 2300 MHz band The subscribers of RCom will be able to access RJio s LTE network under the reciprocal sharing and ICR agreements However the arrangements are subject to liberalisation of RCom spectrum in the 800 MHz band and obtaining requisite approvals Post agreement with RCom RJio now has 1800 MHz band spectrum in 18 telecom circles 800 MHz band in 17 circles and 2300 MHz band in all 22 telecom circles The two firms said spectrum trading will happen in 9 circles and subsequently Reliance Jio and RCom will share spectrum in 17 circles However sources said that eventually spectrum sharing will be done in all 22 circles First Published on January 18 2016 1 25 pm Tags Reliance Communications Reliance Jio Please Wait while comments are loading More on this story Reliance Com ups annual investment to Rs 4 000 crore stops 2G in 5 areas Reliance Jio Infocomm in advanced talks with BSNL for network sharing pact Reliance Communication pays Rs 5 383 84 crore as spectrum liberalisation fee to DoT Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 New Mahindra cars at the Delhi Auto Expo 2016 In the news PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 India s biotech moment A made in India Zika virus vaccine Sanam Teri Kasam collections at Rs 1 25 cr Valentine s Day booster shot missing

    Original URL path: http://www.financialexpress.com/article/industry/companies/4g-anil-mukesh-ambani-telecom-firms-in-pact-for-spectrum-sharing/197094/ (2016-02-08)
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  • USFDA observations for Shendra facility not critical: Wockhardt | The Financial Express
    in next few months Khorakiwala said The company s Waluj and Chikalthana plants are already under the USFDA scanner and the company cannot export most products from these two plants to the US market The company is now relying on third party manufacturing besides some products that it is allowed to ship to cater to the US market The USFDA has made nine observations highlighting violations of its norms at Shendra plant The observations were made in Form 483 which is issued to a company management at the conclusion of an inspection highlighting any conditions that may violate the Food Drug and Cosmetic FD C Act and related laws Shares of Wockhardt were trading at Rs 1 235 50 apiece on the BSE down 4 11 per cent from previous close First Published on January 18 2016 1 50 pm Tags Wockhardt Please Wait while comments are loading More on this story US FDA observations for Shendra facility not critical Wockhardt USFDA makes 9 observations over Wockhardt s plant in Aurangabad Wockhardt falls more than 10 on reports over US FDA notice Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 New Mahindra cars at the Delhi Auto Expo 2016 In the news PM

    Original URL path: http://www.financialexpress.com/article/industry/companies/usfda-observations-for-shendra-facility-not-critical-wockhardt/197113/ (2016-02-08)
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  • Print: Mahindra Insurance Brokers – First Insurance Broking Company in the World to Achieve the Global Benchmark – The Financial Express - Page 99
    practices has been driven by our desire and commitment to deliver a best in class service experience to our valued customers Our customers deserve the best and we have endeavoured to develop our people capabilities to match and exceed customer expectations This achievement reinforces MIBL continued commitment to develop and enhance skills and capabilities of our team Rajesh Naik the lead appraiser from QAI India said MIBL has a robust framework for employee growth supported by a collaborative culture a competency framework internal job posting educational assistance and focus on internal promotions MIBL is also the world first company in the insurance sector to have achieved Maturity Level 3 of the People CMM Powered by a strong and flexible people management system I am sure MIBL has the potential to become one of the best organizations in the world MIBL appraisal at Level 3 of the PCMM Model is an endorsement of the significant emphasis we place on developing our existing competencies and creating a globally competitive learning and development culture said Vinay Deshpande Chief People Officer Mahindra Mahindra Financial Services Sector About Mahindra Insurance Brokers Limited The company long term Vision is To be the first Indian company amongst the Global Top 100 Insurance Brokers in Revenue by 2020 Mahindra Insurance Brokers Limited MIBL is a subsidiary of Mahindra Mahindra Financial Services Limited MMFSL MIBL has a Composite Broking license enabling it to operate as a Direct as well as a Reinsurance broker MIBL is one of the few insurance broking companies in India to have adopted Quality Management systems ISO 9001 2008 certification MIBL is committed to providing value to its customers by understanding their insurance needs and risk profile and providing innovative cost effective customized solutions to ensure total customer satisfaction MIBL role in short encompasses various activities right from risk profiling to claims administration for customers MIBL acts as an intermediary between the customer and the insurance company representing the customer MIBL co ordinates with the insurers and re insurers to get the best rate and the most ideal risk protection cover for their customers As on today the insurance solutions developed by MIBL have reached out to over 150 000 villages and have serviced over 6 million cases in the rural and semi urban markets MIBL vision also goes well beyond the horizon as it sets its eyes on the global market by spreading its wings globally and developing relationships in over 25 countries in reinsurance broking business About Mahindra Mahindra Financial Services Limited Mahindra Mahindra Financial Services Limited Mahindra Finance part of the Mahindra Group is one of India leading non banking finance companies Focused on the rural and semi urban sector the Company has over 3 5 million customers and has an AUM of over USD 5 billion The Company is a leading vehicle and tractor financier and also offers fixed deposits and loans to SMEs The Company has over 1 000 offices across the country and is the first finance Company from

    Original URL path: http://www.financialexpress.com/article/industry/insurance/mahindra-insurance-brokers-first-insurance-broking-company-in-the-world-to-achieve-the-global-benchmark/196974/99/print/ (2016-02-08)
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  • Chinese firm LeEco plans to setup Research and development centre in India | The Financial Express
    plans to bring Le Superphones along with smart devices such as 3D Helmet LeMe Bluetooth Headphone and other LeEco ecosystem products like super TV electric car and music services among others We see Indian s good education system could support our product s localisation as well and LeEco aims to be a great localised multinational company Mok said First Published on January 17 2016 1 33 pm Please Wait while comments are loading Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 New Mahindra cars at the Delhi Auto Expo 2016 In the news PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 India s biotech moment A made in India Zika virus vaccine Sanam Teri Kasam collections at Rs 1 25 cr Valentine s Day booster shot missing New Mahindra cars at the Delhi Auto Expo 2016 From Real Madrid to Chelsea Know the top 10 richest clubs Earthquake in Taiwan Magnitude 6 4 quake kills 14 over 100 missing scores injured in Tainan Real Madrid s Cristiano Ronaldo 31 soccer star and entrepreneur All you need to know in 8 slides How Zika

    Original URL path: http://www.financialexpress.com/article/industry/companies/chinese-firm-leeco-plans-to-setup-research-and-development-centre-in-india/196368/ (2016-02-08)
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  • Print: PSU general insurers outpace private players in premium collection – The Financial Express - Page 99
    up in the first nine months and in case of New India it has gone up significantly The growth has come not only from sectors like motor and health but also from miscellaneous sectors New India chairman and managing director G Srinivasan told PTI It will help us regain our marketshare in some of those segments where we have lost it to our peers in the private sector he said However private sector non life insurers blame it on varying strategy for growth or degrowth in premium collection adopted by them for lagging behind their state run peers in the reporting period Public sector companies which are obviously large players in the market are driven by a similar strategy for growth whereas for private sector each one is having varying compulsion for growing or degrowing ICICI Lombard chief claims and underwriting Sanjay Datta said Sometimes topline growth becomes more important for us in an under penetrated market as India is Still we can t lose bottomline growth at the same time he added A section in private sector general insurers doesn t see much difference when it comes to their performance in the reporting period in comparison with PSU general insurers I don t think if there is a much difference between the growth of the public sector versus private sector in the first nine months of the current fiscal as both have grown neck and neck during the period In fact the growth was driven by huge sales of cars in December Bajaj Allianz General Insurance managing director and chief executive Tapan Singhel said Five standalone health insurers collected Rs 2 650 crore registering a growth of 44 5 per cent in the reporting period the highest in the industry so far In overall general insurance industry has logged

    Original URL path: http://www.financialexpress.com/article/industry/insurance/psu-general-insurers-outpace-private-players-in-premium-collection/196365/99/print/ (2016-02-08)
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  • BHEL, 11 other PSUs running in losses: Anant Geete | The Financial Express
    To improve the financial condition of BHEL Geete said the company was looking to manufacture equipment used in setting up of solar power plants BHEL is engaged in manufacturing turbines and other relevant equipments used in setting up of hydro and thermal power stations First Published on January 12 2016 3 56 pm Tags PSU Please Wait while comments are loading More on this story Govt to infuse about Rs 5 000 cr in PSU banks this quarter PSU general insurers outpace private players in premium collection Arun Jaitley asks banks to clean up balance sheet at the earliest Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 New Mahindra cars at the Delhi Auto Expo 2016 In the news PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 India s biotech moment A made in India Zika virus vaccine Sanam Teri Kasam collections at Rs 1 25 cr Valentine s Day booster shot missing New Mahindra cars at the Delhi Auto Expo 2016 From Real Madrid to Chelsea Know the top 10 richest clubs Earthquake in Taiwan Magnitude 6 4 quake kills 14 over

    Original URL path: http://www.financialexpress.com/article/markets/bhel-11-other-psus-running-in-losses-anant-geete/192700/ (2016-02-08)
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