New Delhi: Anil Ambani’s RNRL has suffered a setback in its gas supply dispute in the Supreme Court with RIL. On Thursday, the Supreme Court allowed the petroleum ministry to become a party to the dispute between the two companies. RNRL has opposed the inclusion of the petroleum ministry. Earlier, while RIL and RNRL were fighting their gas supply case in the Bombay High Court, the petroleum ministry had filed a petition against a court judgment that was favourable to RNRL.
One of Japan’s largest steel making companies, JFE Holdings, is tying up with India’s JSW Steel to produce automotive steel in India. The two companies are hoping to cash in on demand companies like Toyota and Nissan, which plan to set up manufacturing units in India.
The government has said it has no plan to place limits on overseas borrowings by Indian companies. The statement came after reports that the finance ministry was planning to auction quotas for foreign borrowings in order to reduce inflows of foreign capital.
Also on Thursday, the government made it clear it that it does not intend to raise fuel prices, The government estimates keeping prices steady will cause state-owned oil marketing companies to suffer a revenue loss of Rs44,000 crore in the current fiscal year.
PepsiCo says it plans to pour Rs700 crore into setting up four new factories in India. The new factories will produce PepsiCo’s beverages and are to be set up by 2012.
The new video game Call of Duty: Modern Warfare 2 may have made more than $300 million on it opening day, but it’s also attracting controversy. Some people are claiming footage from one of its levels bears striking resemblance to last year’s terrorist attacks in Mumbai. The controversial level in the videogame involves a shoot out in Moscow’s airport in which gunmen kill several travelers… But while some reviewers have criticized the depiction of the terrorist attack, others are saying the level in question is crucial to the narrative of the game.