The Union Cabinet has accepted the recommendations made by the Group of Ministers on the Bhopal gas disaster. The recommendations include a new Rs1,500 crore compensation package for victims and a Rs300 crore project to clean up the accident site. Also accepted is a move to seek the extradition of then Union Carbide chief Warren Anderson.
It’s official: Reliance Industries is investing in the assets of America’s Pioneer Natural Resources. It’s going to buy a 45% stake in Pioneer’s Eagle Ford shale gas field in south Texas for $1.36 billion. This is the company’s second foray of its kind. In April it paid $1.7 billion to buy into an Atlas Energy field in Pennsylvania.
But news of the deal left RIL’s investors cold. The company’s stock fell 0.69% to one Rs1,051.30 on the BSE.
Food inflation has picked up pace again, after easing for a week. The food price index climbed 16.90% in the period to 12 June. The previous week’s rise was just 16.12%.