August 26, 2013 by apicomely
Q: Do you get this floor right away or is it more a trading gain that you will make, are you expecting this flow starting like immediately? A: This is just a discovered block and production would take couple of years to start and we expect that the production would start in 2018. Q: How will you be funding this particular deal? A: ONGC is a cash rich company, does not have significant amount of debt in its balance sheet. We have the borrowing capacity on our balance sheet.
German finance minister sees signs ECB will raise rates
Credit: Reuters/John Kolesidis BERLIN | Fri Aug 23, 2013 2:50am EDT BERLIN (Reuters) – German Finance Minister Wolfgang Schaeuble said in a newspaper interview on Friday the European Central Bank (ECB) has made clear it will raise interest rates again once the economy improves and that he welcomed that prospect. “Low rates are above all an expression of insecurity on debt markets. That cannot last forever – even if it is a relief to the federal budget,” he said. “The central bank has announced it will raise rates again when the economy improves. That is good.” ECB chief Mario Draghi actually said after the last meeting on rates on August 1 that rates will remain low for some time.