Budget 2018-19

  The nearest month any increase could occur is November since OPEC+’s last meeting decided the October volumes OPEC+ is considering going beyond its existing deal to boost production by 400,000 barrels per day (bpd) when it meets next week, sources said, at a time when oil prices are near a three-year high and consumers are pressing for more supply. The Organization of the Petroleum Exporting Countries andallies led by Russia, known as  OPEC+ , meets on Monday to review output policy. In July, the group agreed to boost output by 400,000 bpd a month to phase out 5.8 million bpd in cuts. Four OPEC+ sources said producers were considering adding more than that deal envisaged, but none gave details on how much more, or when supply would increase. Another OPEC+ source suggested an increase of 800,000 bpd for one month was possible, with zero the next month. The nearest month any increase could occur is November since OPEC+’s last meeting decided the October volumes. “We cannot exc...

  The telecom department had issued demand notes to the three operators on March 8, and the deadline for making the upfront payment was Thursday Reliance Jio, Bharti Airtel, and Vodafone Idea on Thursday made upfront payments for the spectrum bought in the recently concluded auctions. It is learnt that while Reliance Jio has made a payment of Rs 15,019 crore, Bharti Airtel and Vi paid Rs 6,323 crore and Rs 574 crore, respectively. The  telecom department  had issued demand notes to the three operators on March 8, and the deadline for making the upfront payment was Thursday. Reliance Jio emerged the highest bidder in the 4G telecom spectrum auction, beating incumbents Bharti Airtel and Vodafone Idea by a wide margin. The Centre would get Rs 77,815 crore from the two-day auction — one of the shortest in a decade. While the amount has exceeded the government expectation, the total mop-up is far below the Rs 3.92 trillion worth of airwaves put up for sale. The spectrum has be...

  Varde Partners among the other participants; Bloomberg report does not specify how the potential deal between the two parties would be structured A consortium led by Oaktree Capital Management has proposed providing capital of at least $2 billion (Rs 15,000 crore) to Vodafone Idea as the telecom company seeks funds for capital expenditure and debt servicing. Oaktree has teamed up with several other firms including Varde Partners, Bloomberg reported today. The report did not specify how the potential deal between the two parties would be structured but said that the Oaktree backed consortium has offered around $2-2.5 billion to the stressed telecom firm. Vodafone Idea had announced plans to raise upto Rs 25,000 crore through a mix of debt and equity in September. Late last month following the second quarter results the company’s chief executive officer Ravinder Takkar said the fund raising plans are on track and would be completed in three months. “We are in discussions with inter...