Punj Lloyd Group, an engineering, procurement and construction (EPC) conglomerate, announced that it has bagged two orders worth Rs 1,154.61 crore.

In a filing to the Bombay Stock Exchange (BSE), the company said that the new orders include the company’s first infrastructure project in Libya, plus an oil and gas contract from Cairn Energy India Ltd.

The four-year infrastructure and utility project worth Rs 1,050.05 crore has been received from Housing and Infrastructure Board of Tripoli, Libya, in partnership with Public Works Company Tripoli (PWCT).

Indian exporters may announce large scale retrenchment drive in days to come to pressurize government for more financial relief to exporters. Director-general of the Federation of Indian Export Organizations, Ajay Sahai said, "The global economic demand is going down - that is the prime concern. The order book situation is pretty bad. From January onwards, we will have a lot of closures of units. "

Officials at state-run oil firms have announced to start nation wide strike from Wednesday. They are demanding high wages and incentives for officials working at various refineries of country. Around 45,000 executives of public sector oil companies would join the strike to convey their resentment against Luke warm attitude of government on wages issue.

The indefinite strike called by transports has entered the third day. The Union Government has asked all states to ensure supply of essential goods across the country. The states are advised to use the Essential Services Maintenance Act (ESMA) and the National Security Act (NSA) to get transporters back on work. ESMA allows government to arrest the truckers who are disrupting the flow of essential services. The center has also asked states to cancel permits of trucks to deal with situation.

New Delhi, Jan. 7 : The Confederation of Indian Industry (CII) today expressed its shock and disappointment at the disclosures made by B. Ramalinga Raju on the financial position and financial statements of Satyam Computer Services.

In a statement it said that there is a need to immediately examine the loopholes in regulation, accounting, audit and governance that allowed such lapses to occur and address them with urgency.

Bangalore, Jan 7 : The Chairman of Satyam Computers, B Ramalinga Raju, today resigned after admitting to major financial wrong-doings.

The resignation of Ramalinga Raju has come as a shock to the board. In his letter to the board, he wrote that company has accounted exaggerated revenues over the years.

Raju, in his resignation letter, admitted to have inflated cash and bank balances of Rs 5,040 crore as against Rs 5,361 crore reflected in the books of accounts.