Turkey`s Islamic-rooted Justice and Development Party (AKP) won the most votes in the election but has lost its parliamentary majority and will need to form a coalition.
The AKP secured 41 percent of the vote, followed by the Republican People`s Party (CHP) on 25 percent, the Nationalist Movement Party (MHP) on 16.5 and the Pro-Kurdish People`s Democratic Party (HDP) fourth on 12.5 percent.
According to official seat projection, the AKP will have 259 seats in the 550-seat parliament, the CHP 131, the MHP 82 and the HDP 78.
G7 Leaders Urge Tough Line on Russia
Group of Seven (G7) leaders vowed to keep sanctions against Russia in place until President Vladimir Putin and Moscow-backed separatists fully implement the terms of a peace deal for Ukraine.
The leaders want Russia and Ukraine to comply with a February 12 ceasefire agreed in Minsk that largely halted fighting in eastern Ukraine between pro-Russian separatists and Ukrainian government forces.
Oil and Natural Gas Corp will invest Rs. 41,678 crore for bringing to production newer oil and gas fields and redeveloping ageing fields as it looks to boost output.
The company, which produced 25.94 million tonnes of crude oil and 23.52 billion cubic metres of gas in 2014-15, is boosting investment to reverse the declining trend in output at its old and ageing fields.
ONGC will invest Rs. 24,188 crore in development of six projects both on the east and west coast. Another Rs. 17,490 crore will be spent on redeveloping its prime Mumbai High fields as well as Heera-South Heera fields in western offshore.
The biggest project is the western offshore Daman field development where Rs. 6,086 crore is being invested to produce 27.67 billion cubic metres of gas by 2034-35.
First set of Small, Payment Bank Licences
Aiming at a move at promoting financial inclusion, the Reserve Bank is all set to issue first set of licences for small and payment banks in the next two months.
RBI had received 72 applications for small finance bank licences and 41 applications for payment bank licences. The applicants include Department of Post, Tech Mahindra, Videocon Group and stock exchange NSE, besides big corporates like Ambanis and Birlas.
The objective of licensing small banks is to promote financial inclusion by offering saving vehicles and credit to small business units and other unorganised sector entities.
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