• Thu, Oct 18, 2018
  • Debunking reports of the company had to avail overdraft facility to pay salaries to its employees, ONGC Director (Finance) Subhash Kumar said ONGC continues to be on a sound financial position and...
    ONGC says finances are sound, no issues with salary payments
    State-owned Oil and Natural Gas Corp (ONGC) Thursday said its finances are as sound as ever and is generating enough revenues to meet all its capital and operating expenditures as well as any additional merit-based requirement. These claims in some quarters of the company being unable to pay salary to its employees are completely untrue and based on a misinformation campaign, he said. Even in low oil prices, we were able to discharge all our obligations. And now prices (that ONGC gets for oil and gas it produces) are certainly much better and so there is no question of any default on any count. The company, which has an annual revenue of about Rs 85,000 crore, has enough resources to meet its capital expenditure and operating expenses, he said. Salary is only a small expense. Congress spokesperson Manish Tewari had earlier this week...
  • Global IT spending to grow 3.2 per cent in 2019: Gartner Global IT spending to grow 3.2 per cent in 2019: Gartner

    What this signals, for example, is more enterprise use of Cloud services ? instead of buying their own servers, they are turning to the Cloud.

  • Mideast ride-hailing app Careem secures 200 million dollar new funding Mideast ride-hailing app Careem secures 200 million dollar new funding

    Middle East ride-hailing company Careem said on Thursday it had secured $200 million in new funding from existing investors, including from Saudi Arabian billionaire Prince Alwaleed bin Talal’s...

  • Tata Group in talks to buy stake in Jet Airways: Report Tata Group in talks to buy stake in Jet Airways: Report

    Indian business conglomerate Tata Group has held preliminary discussions to buy a large stake in debt-laden Jet Airways (India) Ltd, the Times of India reported here on Thursday.

  • Charging ahead with ‘direct’ approach to motor-led innovation Charging ahead with ‘direct’ approach to motor-led innovation

    A technologist at heart, P Bala founded Ampere Vehicles with his wife Hemalatha Annamalai. The Coimbatore-based Ratan Tata-backed venture was acquired by Greaves Cotton earlier this year, though...

  • Reliance to buy stake in Den, Hathway Cable Reliance to buy stake in Den, Hathway Cable

    Reliance Industries reported its highest ever quarterly net profit in July-September as record earnings from petrochemical business and bumper earnings from retail business and telecom arm made up for...

  • CFO: Cross-currency fluctuations, weak rupee benefited Infy in Q2 CFO: Cross-currency fluctuations, weak rupee benefited Infy in Q2

    A weakening rupee against a strong US dollar benefited Indian software export major Infosys in the second quarter of fiscal 2018-19, said its CFO MD Ranganath on Tuesday.

  • US chocolate major Hershey’s launches iconic Kisses in India US chocolate major Hershey’s launches iconic Kisses in India

    Hershey India (P) Ltd, a part of The Hershey Company, a global snacking giant and the largest producer of quality chocolates in North America, on Wednesday launched its iconic Hershey’s Kisses...

  • Apple granted second patent for its foldable smartphone Apple granted second patent for its foldable smartphone

    A second patent has been granted to Apple regarding the additions the company intends to incorporate in its originally planned foldable device.

  • Adani, Total team up to build retail network, LNG terminal Adani, Total team up to build retail network, LNG terminal

    India’s largest infrastructure conglomerate Adani Group and French energy giant Total SA Wednesday announced a partnership to develop liquefied natural gas (LNG) import terminals and fuel retailing...