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Fasting, feasting
The attention that we give to food during days of fasting never ceases to amaze me.

Zurich Airport to pare its equity in BIAL
Flughafen Zurich AG, operator of Zurich airport in Switzerland, which has a 17 per cent stake in Bangalore International Airport Ltd (BIAL), will reduce this to five per cent, to fund its further growth in India. The divestment process is expected to take four months.

News of the day

F&O OUTLOOK: Indecisiveness spreads to stocks futures
The Nifty traded in the positive territory for most part of the day. The index made an intra-day high of 5,167 but closed at 5,103, indicating caution at higher levels. This means the 5,182 level has acted as a strong resistance for the last four days with crucial support remaining at 5,080. It is difficult to predict when the market will move out of the current trading band as indecisiveness has now spread to stocks futures — most traded Nifty components, such as Tata Steel, Reliance Industries, Unitech, DLF, Tata Motors and Suzlon Energy, closed in a Doji pattern today.
Online Business

ONGC inks pact for sourcing LNG from Iran

ONGC and ONGC Videsh (OVL), the overseas investment arm of ONGC, in association with the Hinduja Group and Petronet LNG, have entered into two broad enabling agreements with Iranian authorities for participation in development of gas fields and liquefaction facilities in Iran, in return for assured minimum six million tonnes a year of LNG on long-term basis. ONGC made an announcement on the Bombay Stock Exchange (BSE) today. - ONGC, partners to invest over Rs 46,000 cr in Iran - ONGC, partners to invest $10 bn in Iran - ONGC picks up stake in South Pars field; to develop Farsi bloc - Iran offers 40% in South Pars gas field to OVL, Hindujas - India-Myanmar gas pipleline may take shape in 2-3 yrs - ONGC strengthens ethical practices The companies have enter into two strategic agreements on Tuesday. An agreement offering OVL and the Hinduja Group company, Ashok Leyland Projects Services (ALPS), 40 per cent participating interest for development of South Pars 12 gas field was inked. Another agreement offering 20 per cent equity in the liquefaction facilities of Iran LNG, with possible enhancement of equity up to 40 per cent to ONGC, OVL, ALPS and Petronet LNG was signed. According to a statement issued by ONGC here on Wednesday, the Iranian side has agreed to consider OVL"s proposal to develop the Farsi block and bring the gas produced from the block discovered by OVL to India. The gas can be brought either through pipeline, LNG or swap arrangement. Iran has also agreed to resume detailed discussion on technical, commercial and contractual issues within three weeks in New Delhi, the statement said.


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