News Burger of the Day – Your Daily Prep Diet – Jan 22nd

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If you follow these articles regularly, they will help you build a broader perspective of the current Indian and global business scenario. Also, moving away a bit from regular news, we will try to bring forth informative articles that will guide your preparation for interviews.

R-Com’s December quarter profit drops 15%

Reliance Communications Ltd (R-Com), a part of Anil Ambani’s Reliance Group, on Friday reported a 15% decline in third-quarter profit on account of higher finance costs and taxes.

R-Com earned a net profit of Rs171 crore in the three months ended 31 December, compared with Rs201 crore in the year-ago quarter.

Oil rises 5% to above $30 as cold weather pushes demand

Oil prices rose 5% on Friday to scale the $30 mark breached last week, as cold US and European weather as well as firmer financial markets gave traders reason to cash in on record short positions.

While crude futures on both sides of the Atlantic were poised for their first weekly gain this year, analysts cautioned that the bounce in prices could be driven by sentiment given soaring inventories amid persistent overproduction.