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Diageo optimistic over future growth

Global drinks maker, Diageo has published its preliminary results and said that it expects 2010-2011 to be a good year for the company after sales trends in developing markets for the six months to June 30 offset poor trading in North America and Europe.

Cairn Energy sees promise off Greenland; plans sale of oil-rich Rajasthan for $9.6 bn

Cairn Energy has found gas in unexplored shores on its first drill after agreeing to sell its assets in western Rajasthan for $9.6 bn to Vedanta Resources earlier this year. The resulting shift in focus from oil in Rajasthan to hydrocarbon off Greenland is hoped to develop new strategies for the company that made $76.1 million net loss in first half of 2009.