A jump in retroactive Islamic tax liabilities faced by Saudi banks is creating concern about damage to their earnings and the government’s motives in demanding the money.
MSCI’s impending decision on whether to upgrade Saudi to emerging market status will be independent of the stock market’s ability to absorb the listing of Saudi Aramco.
UAE Energy Minister said that OPEC and non-OPEC oil producers will continue their cooperation beyond 2018 to help avoid any future oil glut or shortage.
Jaitley met Saudi King Salman and discussed with him ways to boost bilateral economic and trade cooperation.
Industry experts are focusing on the current level of oil prices. However another key consideration for Saudi officials in floating up to 5 % of the state oil producer.
Jaitely would be leaving Saturday night on a two-day official visit to Saudi Arabia to co-chair the 12th India-Saudi Arabia Joint Commission Meeting.
Oil prices extended gains from the previous session, pushed up by a weak dollar and by comments from Saudi Arabia that it would rather see an undersupplied market.
Banks in the UAE are hopeful of recovering some funds in 2018 from the multibillion-dollar collapse of Saudi Arabia’s Saad Group and Ahmad Hamad al-Gosaibi & Bros Co.
Italy’s export credit agency SACE plans to back $1.6 billion in loans to Saudi Arabia over the next 12 to 18 months, the agency’s chief told Reuters.
Navy Chief visited Saudi Arabia from February 4-8 and held extensive talks with its top defence brass to further consolidate cooperation between the armed forces.
Ultratech Cement leads race to take over Binani Cement
Offers around Rs 6,200 cr, 20% stake in co to unsecured financial creditors
Dalmia Bharat offers Rs 6,300 Cr
Dalmia seen to lose as UltraTech offering equity stake to creditors
Final decision on winner to be ratified by NCLT
Business Standard Reporst
4 companies put in bids for 9 operational national highways under ‘toll-operate-transfer’ model
Brookfield Asset mgmt, Macquarie, IRB Infra and Roadis- NIIF are cos in fray
NHAI hopes to generate more than Rs 6000 cr Under TOT model
auction will involve five highways running across Andhra Pradesh and four in Gujarat
total length of these highways is just under 700 km
Successful bidder to get toll collection rights for 30 years
Ministry of Commerce recommended Central Govt Anti dumping duty on Dimethylacetamide
Recommend duty for 5 Yrs on DMAC originating from China and Turkey
Co bags Rajasthan Project
Received a LOI to construct, own, operate and maintain Fatehgarh-Bhadla transmission project in Rajasthan
Received LOI from PFC Consulting Ltd, an arm of Power Finance Corporation
With this project, ATL will strengthen its existing presence in Rajasthan with 2 operational transmission projects and 4 under construction assets
On completion of this acquisition cumulative transmission network will reach 12000 ckt kms, out of which ~9000 ckt kms under operation
Transformation capacity of ATL will also increase to 19,300 MVA from 35 substations
To be out of F&O if it does not declare quarterly results by March 1
All existing F&O contracts will expire on March 28
No fresh contracts will be available if the firm fails to submit results for quarters ended September and December 2017 by March 1