5. The government plans to sell 5 per cent stake in Oil and Natural Gas Corporation (ONGC) and 10 per cent in Indian Oil Corporation (IOC) through the follow-on public offer
6. IOC around Rs 10,000 crore was expected as the country's largest oil marketer IOC would be raising 10 per cent more equity.
7. IOC has huge requirement for money. It will be using the proceeds of the sale for the Rs 29,000-crore Paradeep refinery
8.
9. India drops to 51st position in global competitiveness ranking By the World Economic Forum's India has been pushed down to 51st position from 49th due to its poor performance in a range of social sector areas such as education, health and infrastructure India has performed well in complex financial sector areas, attaining the 17th rank globally in terms of its financial markets, 44th in business sophistication and 39th in innovation, it has failed to improve the basic drivers of competitiveness As per the WEF's Global Competitiveness Report 2010-11, released today, Switzerland is No. 1 in the world in terms of its ability to provide the most competitive environment on several fronts. Sweden, another technology powerhouse in Europe, ranks second, followed by Singapore and the United States, which both fell by two positions from their ranking last year. The African nation of Chad figures at the bottom of the list of 139 countries.
10. Confident, no tax to pay on India transaction: Vodafone Vodafone is confident that there is no tax to pay on the India transaction, it said on Wednesday, after the Bombay High Court dismissed the company's petition in the tax case. Vodafone said it is seeking legal advice to challenge the Bombay High Court order that dismissed its plea against the I-T department's Rs 12,000 crore demand in tax and penalty on the company's acquisition of of Hutchison Telecom in a deal of about Rs 50,000 crore
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