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Saint Petersburg-based Gazprom, the state-owned multinational energy company, has likely proposed to the Indian public sector company that it purchase the fuel from Gazprom Singapore and settle payments in euros in future trades.

The final rounds of negotiations are ongoing before a formal announcement, which is expected in a few weeks. The investment is for a significant minority stake but comes with significant governance rights that would make KKR a co-promoter along with founder chairman and managing director Rahul Munjal.

The company proposes to carry out life insurance business in India, subject to grant of certificate of registration by Insurance Regulatory and Development Authority of India,

In a draft notification earlier this week, the Insurance Regulatory and Development Authority of India (IRDAI) set a 20% commission cap for general insurance companies, down from the 30% to 35% they could charge earlier. The regulator also allowed life insurers whose expenses were under 70% of the allowable limit to set their own commission rates across product segments.

Fed officials on Thursday were noncommittal about the size of the interest rate increase they plan to approve at their Sept. 20-21 meeting, but they continued hammering the point that rates will rise and stay high until such high rates of inflation have been squeezed from the economy.

Syrna SGS Technolog will make its debut at Dalal Street today. It had raised 840 crore through its IPO between August 12-18 by selling its shares in the range of Rs 209-220 apiece.

The U.S. economy contracted at a more moderate pace than initially thought in the second quarter, as consumer spending blunted some of the drag from a sharp slowdown in inventory accumulation, dispelling fears that a recession was underway.

In the currency markets, the dollar was little changed against a basket of major currencies. The commodity-exposed Australian and New Zealand dollars fell 0.4% versus the greenback after a strong rebound in the previous day.

Minneapolis Federal Reserve Bank President Neel Kashkari said on Tuesday his biggest fear is that the U.S. central bank misreads the extent and persistence of price pressures and will need to deliver even more aggressive rate hikes to curb inflation.

Info Edge (India) JTEKT India, Zenith Steel Pipes & Industries, Arnold Holdings, Polyspin Exports, Real Eco-Energy, Victoria Mills and Mena Mani Industries will have their annual general meetings (AGM) today.