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Energy giants agree to develop huge Australian LNG project
Energy giants Chevron, Shell and ExxonMobil today agreed to develop Australia"s massive Gorgon field, giving the final go-ahead to a liquefied natural gas project underpinned by supply contracts with India, China, Japan and South Korea.

Aurobindo to acquire Trident Life
Aurobindo Pharma Ltd, a manufacturer of generic pharmaceuticals and active pharmaceutical ingredients (APIs), is planning to acquire the entire stake in Trident Life Sciences Ltd (TLSL), a city-based clinical research organisation (CRO).

News of the day

Tata Coffee Q3 PAT up 13.5% to Rs 14 cr
Tata Coffee has posted a rise of 13.5 per cent in its profit after tax (PAT) for the December quarter at Rs 13.87 crore compared with Rs 12.22 crore in the previous corresponding quarter. Its income from operations during the period grew to Rs 76.46 crore from Rs 65.10 crore last year, up 17.45 per cent.
Small Business

Govt to start 3G auction on Feb 25

The government has decided to go ahead with the auction of three slots of third generation (3G) spectrum for all 22 telecom circles on February 25. It will be completed by March 3-5. - Centre-CMs meet on food prices on January 27 - MP govt may raise upper slab of VAT - Govt closely monitoring price situation: FM - "GST has to be implemented simultaneously" - New power equations - Basu gets solemn farewell in final journey The announcement comes within a few days of Finance Minister Pranab Mukherjee directing Communications Minister Andimuthu Raja to complete the bid by February-end for the revenue collected from it to get reflected in the Budget for 2009-10. The government had fixed a target of Rs 30,000 crore from the auction and had budgeted for the current financial year to bridge the fiscal deficit. The consensus for the date was brought about by an inter-ministrial committee set up by the empowered group of ministers (EGoM) on 3G, of which Mukherjee is the chairman. EGoM will now have to endorse the date. It is expected to meet in a few days. Industry sources say it is a mere formality. Successful bidders would have to make a payment upfront within 15 days of winning 3G licence. Spectrum would be allotted in the first week of August.


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