World Bank to shift IT jobs to India
Chennai: The World Bank is exploring the possibility of shifting its information technology-dependent activities to India.

World Banks Chennai back office will process a part of the activities of the banks accounting division that includes payroll processing, accounts receivables and payables and country office accounting.

The office would also act as a help desk providing data requirement on a real-time basis.

The Chennai office employs around 90 consultants and many of them had received training in Washington.
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World Bank may fund VRS for public sector
New Delhi: The disinvestment ministry has asked for the World Banks support to fund voluntary retirement schemes in various public sector units.

The World Bank has funded various voluntary retirement schemes for companies at the state level. It is interested in increasing funding for reform-related programmes like VRS at the central level.

The World Bank has funded VRS for companies slated to be closed or liquidated under the Andhra Pradesh economic restructuring projects.
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Hazira gas reserves up by 6 b cu. m
Ahmedabad: The revised gas reserves at the Hazira fields have been set at 8.5 billion cubic metres.

With this, the Gujarat State Petroleum Corporation (GSPC) and its operating partner at the Hazira gas fields, Niko Resources, Canada, have agreed to bury their differences pertaining to the gas reserves at Hazira.

The compromise formula was thrashed out by the Dallas office of Degolyer & McNaughton (D&M), the firm that carried out detailed studies of the Hazira fields.

Both the parties had agreed to drill an appraisal well at an offshore location before the onset of the monsoons this year leading to the finalisation of the Hazira field development plan.
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