Business confidential: Breaking the ice over oil, energy

Breaking the ice over oil, energy

For several reasons, oil ministry officials and energy companies don't enjoy a very healthy relationship. But the new regime has decided to change it and a transition is taking place in the ministry, famous for its contentious relationship with Mukesh-Ambani controlled Reliance Industries. The new minister has taken it on himself to break the ice between his ministry officials and energy companies. In fact, on Friday he organised an "ice-breaking" meeting between officials and the functionaries of Reliance BP and Vedanta.

What's economics got to do with it?

Delhi's chief minister Sheila Dixit, after a meeting with finance minister P Chidambaram, was questioned on Delhi's budget to which she said journalists should not ask her too many finance-related questions because though she holds the finance portfolio, she is "not an economist".

"Mujhse mota mota gharelu sawal poochhiye ki kitna aaya aur kitna gaya" (ask me household expenses — how much was got and how much was spent). One can easily agree with her given the fact that it took her three attempts to pronounce 'no-frills account' while addressing the press conference.

Axis of banking opportunity

Axis Bank is planning to set up a subsidiary overseas. Most probably it will be in London, where it already has a branch since 2010. The decision could however surprise business as most banks are moving out of the continent, but possibly that gap gives the bank a business opportunity.

ALSO READ

Govt agencies begin crackdown on Saradha

Maruti Suzuki Q4 net jumps 80%

Smaller cities get global gateway in Abu Dhabi

Central GST at 11%, state tax at 13%, says sub-panel