KFC to open 1st outlet in Tibet

Beijing
US fast-food giant Kentucky Fried Chicken (KFC) will open its first chain store in Tibet's capital Lhasa next year as China gave a rare access to an American business firm in the closely guarded Himalayan region, where foreigners need special permission to visit. KFC signed a contract with a shopping mall in downtown Lhasa to open the first restaurant in Tibet by the end of January, the Xinhua news agency said. PTI

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New Delhi
ONGC rapped for Rs 8k cr loss

The CAG has lashed out at ONGC for their planning, hiring, deployment and repair of drilling rigs that resulted in a loss of Rs  7,995 crore. In a report tabled in Parliament on Wednesday, the CAG said the availability of rigs for drilling in ONGC was lower than intended on account of delays and deficiencies in the hiring and rigs remained out of cycle. TNS

San Francisco
No spin off Alibaba stake: Yahoo

Yahoo Inc said it scrapped a plan to spin off its stake in Alibaba Group Holding Ltd, citing tax concerns. Yahoo's assets and liabilities, other than the Alibaba stake, will be transferred to a new company, resulting in two separate publicly traded entities, Yahoo said on Wednesday. Reuters

New Delhi
Work on to set up pharma parks

Minister for Chemicals and Fertilizers Ananth Kumar on Wednesday said the government was working to set up pharma parks, bulk drugs parks and medical devices parks to make manufacturing more competitive. TNS