Top headlines: FM rules out fuel price cut; Aramco may invest $25 bn in RIL

Business Standard brings you the top headlines on Monday

FM Sitharaman rules out cut in excise duty on petrol, diesel, for now

Finance Minister Nirmala Sitharaman on Monday ruled out a cut in excise duty on petrol and diesel to ease rates that have touched all-time highs, saying payments in lieu of past subsidised fuel price pose limitations.

The previous Congress-led UPA government had issued bonds to state-owned oil companies to make up for the difference in the artificially suppressed retail selling price of fuel and the cost. These oil bonds and the interest thereon are being paid now. Read more

Aramco in advanced talks to buy stock worth $25 bn in Reliance: Report

Saudi Aramco is in advanced talks for an all-stock deal to acquire a stake in Reliance Industries Ltd.’s oil refining and chemicals business, people with knowledge of the matter said.

The Middle Eastern energy firm is discussing the purchase of a roughly 20% stake in the Reliance unit for about $20 billion to $25 billion in Aramco’s shares, the people said, asking not to be identified because the information is private. Read more

Afghans have broken 'shackles of slavery': Pakistan PM Imran Khan

Pakistan Prime Minister Imran Khan on Monday seemed to endorse the Taliban taking over Kabul by saying that Afghanistan has broken the "shackles of slavery" in the neighbouring war-torn country.

The longstanding war in Afghanistan reached a watershed moment on Sunday when the Taliban insurgents closed in on Kabul before entering the city and took over the presidential palace, forcing embattled President Ashraf Ghani to join fellow citizens and foreigners to flee the country. Read more

Former Congress MP Sushmita Dev joins Trinamool Congress

Soon after submitting her resignation from Congress, former party MP Sushmita Dev on Monday joined Trinamool Congress (TMC) in West Bengal.

She was inducted to the party in the presence of TMC leaders and MPs Abhishek Banerjee and Derek O'Brien. Read more