The petroleum ministry has signaled that besides freeing fuel pricing from administrative control, the government on Thursday may cut petrol, diesel and domestic LPG prices.

According to an official working in the petroleum ministry, the Cabinet, which is planed to meet on Thursday, may reduce petrol price by Rs 5 a litre, diesel by Rs 3 per litre and domestic LPG by Rs 25 per cylinder, thus, giving relief to the common man and further easing inflationary pressures.

At the Vibrant Global Investers Summit 2009, Ahmedabad, Gujarat NRE Coke Ltd, country’s largest independent coke producer, announced that it is all set to invest around Rs 300 crores in Gujarat over the next 4 to 5 years.

The metallurgical coke producer said that it will invest Rs 12 billion in a 200 megawatt (MW) wind power project and Rs 10 billion in a 200 MW thermal power plant.

Gujarat NRE would also invest Rs 5 billion on adding additional capacity at its coke and coal preparatory plants and Rs 3 billion on a 60 MW heat-based power plant.

New Delhi, Jan 13: Expressing concern over the Satyam Computer Services scandal, analysts have said that it has exposed serious shortfalls in corporate governance in India, and added that this must be addressed to ensure credibility in an increasingly globalised and competitive world.

Just three months ago, Satyam Computer Services received the Golden Peacock Award from a group of Indian directors for excellence in corporate governance.

Country’s second largest software services exporter, Infysos Technologies, on Tuesday announced a better-than- expected 14.5 per cent rise in profit in the October-December quarter.

Net profit rose to Rs 1641 crore, from Rs 1432 crore a year earlier. Income rose Rs 5786 crore versus Rs 5418 crore (corresponding year). Besides this, company’s earning per share was at Rs 28.63 as against Rs 21.47 a year ago. When compared to Rs 1,186 crore (Oct-Dec07), Infosys net profit grew 34.7% to Rs 1,598 crore (Oct-Dec08).

The Union Government is unlikely to take any action against the officers of oil PSU's who went on strike two days earlier. Their strike caused huge loss to national exchequer and crippled fuel supply across the nation.

The oil workers came back on work when Union Cabinet under the chairmanship of PM Dr. Manmohan Singh asked concerned ministry to deal them with heavy hand.

Petroleum Secretary, R S Pandey said, "Everyone has undergone a great deal of trauma, we have had a tough experience. I don't think you all should start finding fault. It is the time to look ahead to the future."

Mr. Pandey however said that no one should try to hold country to ransom.

The recently done survey by Federation of Indian Chambers of Commerce and Industry (FICCI) maintains that India Inc's business confidence is continuously shrinking and currently reported at 7-year low.

Tight monetary policy, liquidity crunch, slow demand and economic downturn adversely impacted confidence of business community.