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September 8: The lensman`s view

  • September 8: The lensman`s view

    September 8: The lensman`s view

  • <p>Reliance Industries KG-D6&#39;s facility located in Andhra Pradesh</p><p><b>The Comptroller and Auditor General of India (CAG) said the oil ministry should review determination of contracted areas to exploration companies in the Krishna Godavari basin, off the Andhra Pradesh coast, in a report tabled in parliament on Thursday.</b></p><p>The CAG report questioned the "reasonableness of costs incurred" in the 2007-08 procurement activity in the area and said there was enough ground to revisit the profit sharing mechanism.</p><p>The oil ministry said in June it was examining the draft report, and would prepare a reply to the audit observations after obtaining details from relevant agencies.</p>

    Reliance Industries KG-D6's facility located in Andhra Pradesh

    The Comptroller and Auditor General of India (CAG) said the oil ministry should review determination of contracted areas to exploration companies in the Krishna Godavari basin, off the Andhra Pradesh coast, in a report tabled in parliament on Thursday.

    The CAG report questioned the "reasonableness of costs incurred" in the 2007-08 procurement activity in the area and said there was enough ground to revisit the profit sharing mechanism.

    The oil ministry said in June it was examining the draft report, and would prepare a reply to the audit observations after obtaining details from relevant agencies.

  • <p>Passengers speak to ticketing staff through the only open counter at the Air India ticket office at the domestic airport in Mumbai</p><p><b>The CAG report on Thursday said state-run firm Air India&#39;s decision to buy 68 Boeing planes in 2004-05, approved by the government, imposed a "undue long term financial burden on the carrier".</b></p><p>The auditor&#39;s report was tabled in parliament today.</p>

    Passengers speak to ticketing staff through the only open counter at the Air India ticket office at the domestic airport in Mumbai

    The CAG report on Thursday said state-run firm Air India's decision to buy 68 Boeing planes in 2004-05, approved by the government, imposed a "undue long term financial burden on the carrier".

    The auditor's report was tabled in parliament today.

  • A worker replaces fluorescent lights on a Vodafone billboard in New Delhi</p><p><b>IBM has signed an extended deal estimated at up to $1 billion to manage the information technology systems of Vodafone&#39;s Indian unit until 2017.</b></p><p>Vodafone Essar had agreed a five-year IT outsourcing deal with IBM in 2007.</p><p>When contacted by Reuters, a Vodafone Essar spokesman said the companies had agreed to extend the deal, but declined to give any details. A spokeswoman for IBM in India could not immediately comment.</p>

    A worker replaces fluorescent lights on a Vodafone billboard in New Delhi

    IBM has signed an extended deal estimated at up to $1 billion to manage the information technology systems of Vodafone's Indian unit until 2017.

    Vodafone Essar had agreed a five-year IT outsourcing deal with IBM in 2007.

    When contacted by Reuters, a Vodafone Essar spokesman said the companies had agreed to extend the deal, but declined to give any details. A spokeswoman for IBM in India could not immediately comment.

  • <p>A boy takes shelter from the rain under his horse-cart on the banks of the Tawi river in Jammu</p><p><b>Monsoon rains were 39% above normal in the week to Sept. 7, strengthening from 18% above average in the previous week, two sources at the weather office said on Thursday.</b></p><p>The monsoon rains were three% above average since the start of the June-September season, in line with the weather office&#39;s latest forecast of a normal monsoon in 2011.</p>

    A boy takes shelter from the rain under his horse-cart on the banks of the Tawi river in Jammu

    Monsoon rains were 39% above normal in the week to Sept. 7, strengthening from 18% above average in the previous week, two sources at the weather office said on Thursday.

    The monsoon rains were three% above average since the start of the June-September season, in line with the weather office's latest forecast of a normal monsoon in 2011.

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