Gail, IOC keen to partner ONGC Videsh for Iraq venture
The Gas Authority of India (Gail) and Indian Oil Corporation are in the race to partner ONGC Videsh for work on the Abhokima exploration block in Iraq. The field has the potential to yield 200 million barrels of oil.

Searle to tap Hindustan Antibiotics reactors
The managements of RPG group company, Searle India, and state-run penicillin manufacturer, Hindustan Antibiotics (HAL), have reached an in-principle agreement for use of the latter's five reactors in Pune, essentially for the manufacture of vitamin B2 and B12.

McKinsey, Booz Allen in race for LIC recast plan
International consultants McKinsey & Company and Booz Allen & Hamilton are competing with each other to bag the mandate for the recast of Life Insurance Corporation. This is for the first time since its nationalisation that the insurance monolith is seeking the services of a professional consultant for a revamp.

CORPORATE
Surf Excel steals a march over Ariel
Hindustan Petroleum puts in Rs 270 cr insurance claim

ECONOMY
MSEB yet to recover over Rs 2,500 crore dues
P&O unlikely to bow down before the greens

EXPRESSIONS
Abolition of gift tax was a blunder
Gujarat Flouro on buyback course

MARKETS
More items to come under futures trading
Package soon to boost pulses, oilseeds output

LEISURE
MNC exposure adds weight to your CV
IT programme, but not meant for IT managers