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New Delhi - Reliance Industries will save about USD 450 million annually by importing 1.5 million tons ethane from US for its petrochemical plant, says a report.

Imported Ethane will substitute its current propane imports and a portion of naphtha used for ethylene production.

"Given depressed US ethane prices and rising production, we estimate an annual saving of USD 450 million from this feedstock substitution from FY18," CLSA said in a research report.

New Delhi, Aug 27 : Prime Minister Narendra Modi today set up a committee to identify obsolete laws within a time frame of three months.

He called for a focused and result-oriented exercise to systematically weed out archaic laws and rules. The Committee will also examine Acts and Rules which may have become obsolete within the last ten to fifteen years. The newly-constituted Committee will examine all Acts recommended to be repealed by the Committee on Review of Administrative Laws, which had been appointed by the Union Government of Atal Bihari Vajpayee in 1998.

New Delhi, Aug 27 : Narendra K Verma today took charge at the Oil and Natural Gas Corporation Limited (ONGC) Videsh as its Managing Director.

Verma has been the Director (Exploration) of the Maharatna ONGC since April 2013, after having a career spanning more than three decades with the oil major.

Prior to joining the Board of Directors of ONGC, he was the Director (Exploration) for ONGC Videsh Limited, where he was responsible for the growth strategy and business development at OVL with several high value acquisitions in last one year.

New Delhi, Aug 27 : Bipasha Basu recently promoted her upcoming movie ' Creature

London, August 27 : A new study has found that extreme exercise may not help in reducing weight, in fact, it may do the opposite.

According to the study, 50 percent of the people who run a marathon for the first time actually put on weight, instead of ditching those extra pounds, the Daily Express reported.

Several people taking part in marathons said that they were thinner after completing the race than when they started their training, however, nearly 55 percent of people said that they were heavier, even if they were in better shape physically.

London, Aug 27 : Liverpool's new boy Mario Balotelli is reportedly enjoying afternoon teas, as he is trying to settle back his life in England .

The Italian, who completed his 16million pound move to Anfield, has been indulging in the calorific English treats, consisting of stodgy cakes and sarnies, while he waits to make his debut for the Reds, the Mirror reported.