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Karnataka seeks 40-45 mmscmd KG-D6 gas from Centre
Karnataka Chief Minister B S Yeddyurappa has written to Prime Minister Manmohan Singh seeking 40-45 mmscmd of natural gas for industries in the state, joining the growing crowd of users jostling for the fuel from fields operated by Reliance Industries.

CPI(M) sacks VS from politburo, backs Vijayan
VS Achuthanandan would, however, continue as the CM.

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V V: Correcting the fault lines of capitalism
In the long run,” John Maynard Keynes had famously said, “we are all dead.” Keynes may not have been quite dead, but he had lived a ghostly half-life in the corridors of central banks and within the academia for decades. Now with the failures of unbridled capitalism on a global scale, he is back in fashion, along with Marx. John Cassidy, the finance correspondent for the New Yorker has come with How Markets Fail: The Logic of Economic Calamities (Allen Lane/Penguin £25), which draws heavily on Keynes to recount the story of America’s housing boom and the failures of regulators and self-deception of bankers that led to the present financial crisis. The book is a sequel to Cassidy’s earlier book DotCon that dealt with the stupidities of the stock market bubble in the late 1990s, but both deal with one central idea: the belief that society is best served when individuals are left free to pursue their self-interest was “Utopian economics” and led to disaster because of “the crooked timber of humanity”, and the uncertainty that is inherent in any human enterprise.
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Reliance Cap net drops 52%

Reliance Capital, the financial services arm of the Reliance-Anil Dhirubhai Ambani (R-ADA) group, reported a 52 per cent fall in consolidated net profit at Rs 63 crore for the quarter ended December 31, 2009, against Rs 132 crore in the same quarter the previous financial year. - Rel Cap Q3 net dips 52% to Rs 63 cr - Reliance Power profit rises 26% - Dadri farmers want more time to return compensation - Big TV ties-up with real estate firms to market DTH services - R-Infra to get Mumbai Metro-II tomorrow - Corporate rivals against Dadri power project: ADAG to SC On a standalone basis, the company’s net profit fell 64 per cent to Rs 41.29 crore, compared with Rs 114.43 crore in the quarter ended December, 2008. “Lower capital gains were booked this quarter, owing to the planned partial stake sale later this year in the operating businesses, subject to necessary approvals… The full benefit of this unlocking of value will form a part of Reliance Capital’s net profit for the current financial year,” the company said in a statement. Reliance Capital Asset Management, the country’s largest fund house, saw its assets under management grow 71 per cent to Rs 1,19,982 crore as of December 31, 2009, compared with Rs 70,208 crore. RCap recorded an 86 per cent rise in net profit to Rs 48 crore from Rs 26 crore at the end of the previous quarter. Reliance Life Insurance saw a 40 per cent increase in total premium to Rs 1,603 crore, against Rs 1,148 crore a year ago. New business premium was at Rs 92 crore in the reporting quarter, against Rs 830 crore in the corresponding quarter a year ago — an increase of 11 per cent. The capital invested in this business till date is Rs 2,808 crore. The general insurance arm reported a marginal 2 per cent increase in gross direct premium against Rs 509 crore in the December 2008 quarter.


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