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Reliance plans to revive offshore natural gas project by 2017 end

  Mumbai / Bloomberg Reliance Industries Ltd. is preparing to restart work in four offshore oil and gas blocks, including one of India’s biggest natural gas discoveries, as it seeks to revive development activity stalled for seven years by disputes with the government, according to people with knowledge of the plan. Reliance has held meetings with oilfield-services companies to discuss ...

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SBI jumps despite $4.7bn bad-loans

  New Delhi / AFP State Bank of India, the country’s largest lender, jumped the most in more than two months after reporting a bad-loan watch list that’s smaller than its closest rivals. Shares of the lender surged 6.4 percent to 195.90 rupees in Mumbai trading, paring this year’s losses to 13 percent. About 313bn rupees ($4.7bn) of State Bank’s ...

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Chinese developer takes on Disney, opens theme park

  Beijing / AP China’s largest private property developer, the Wanda Group, opened an entertainment complex on Saturday that it’s positioning as a distinctly homegrown rival to Disney and its $5.5 billion Shanghai theme park opening next month. Wanda executives unveiled their $3 billion “Wanda City” in the southeastern provincial capital of Nanchang to thundering music reminiscent of the “Pirates of ...

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