A good and encouraging record trickled from National Bureau of Statistics that inflation rate receded to 9.4% in July, the lowest so far in three years. This is a significant improvement from persistent inflation that was surging upward that compelled the Central bank of Nigeria (CBN) to aggressively tighten monetary policy. As of June the […]
United States: Averting economic woes by raising debt limit
Echoing the words of President Kennedy, “We will go to the moon and do other things, NOT because they are easy but because they are HARD.” In a nutshell that is what raising United States debt limit is all about, if it was an easy issue there will be no need for the politicians to […]
Reliance Industries: CAG has not grasped the nuances of PSC
<p>Reliance Industries Limited (RIL), a Mukesh Ambani owned multi-function enterprise, has stated in its reply to Comptroller and Audit General (CAG) that the audit body has failed to acknowledge the basic nuances of production sharing contracts (PSC). Lack of technical understanding on account of CAG has led the body to question Reliance on its cost […]
RIL presents its reply on CAG audit report
<p>Reliance Industries Limited (RIL), a Mukesh Ambani owned energy enterprise, has submitted its reply to the Comptroller and Audit General (CAG), following CAG’s allegation that points towards violation of constitutional mandate and unwarranted increase in capital expenditure by the energy giant.</p> <p>CAG had put under the scanner the Krishna – Godavari (KG D6) basin exploration […]
RIL, DGH meet CAG officials over KG-D6 basin matter
<p>Representatives from the Reliance Industries Limited (RIL), led by its executive director PMS Prasad, along with Directorate General of Hydrocarbons (DGH) and oil ministry officials, met with the Comptroller and Audit General (CAG) body in the exit conference held on Tuesday. This conference was held to review and discuss on the audit report submitted by […]
RIL hints corporate enmity led to CAG allegations
<p>In its reply to the ill-famed Comptroller and Audit General (CAG) audit report to the oil ministry, Reliance Industries Limited (RIL), a Mukesh Ambani owned conglomerate, has stated corporate rivalry as one significant factor that insinuated CAG to red mark RIL’s cost expenditure and put KG D6 basin under scanner in its audit report.</p> <p>RIL […]
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