India's state-run refiner, Bharat Petroleum Corp Ltd, has launched a pilot project to build cinema halls at its gas stations along highways to boost revenue, a company official said on Thursday.

"We are introducing this concept to increase our non-fuel revenues and also bring in an element of entertainment for our highway customers," Keshav Shenoy, general manager at BPCL's highway retailing, said.

BPCL, India's third-largest oil refiner, runs 7,500 retail outlets across India.

The company has tied up with Cinemata, a film distribution unit of Sony Entertainment Television, to source content and also to help set up the single screen cinema halls, Shenoy said.

The refiner has invested Rs 10 million ($250,000) on two pilot projects in Gujarat, where it will beam movies via an existing satellite link, he said.

"If our plan is successful, we want to replicate the concept at more than 300 large retail outlets by 2010," Shenoy said.

India's state-run oil firms are under pressure because of government controls over fuel pricing.

State firms that include Indian Oil Corp, Hindustan Petroleum Corp and BPCL together lose Rs 1.5 billion a day in revenue as they are compelled to sell fuel at lower prices even as oil hovers near record highs.

Companies are turning to non-core activities like opening convenience stores, food and entertainment at their retail outlets to generate revenue.



Courtesy : Expressindia.com

Microsoft founder Bill Gates is the richest person in America for the 14th year in a row, followed by investor Warren Buffett, according to Forbes magazine's latest list of the wealthiest Americans.

The pair's fortunes each grew by USD 6 billion in the past year, Forbes said on Thursday, with Gates' fortune $59 billion and Buffett USD 52 billion.

Buffett has pledged 85 per cent of his net worth to the Bill and Melinda Gates Foundation and family charities.

Casino magnate Sheldon Adelson (USD 28 billion), head of Las Vegas Sands Corp, and software tycoon Larry Ellison (USD 26 billion), chief executive of Oracle Corp, remain at No 3 and No 4 on the 25th annual ranking of 400 rich Americans, which now requires a minimum net worth of USD 1.3 billion for inclusion.

"The collective net worth of those listed on the 400 this year rose USD 290 billion to USD 1.54 trillion," Forbes said. "Despite market jitters, nearly half of the 45 new members come from hedge fund and private equity investments."

For the first time since 1989 there are no members of the Walton family, descendants of Wal-Mart Stores Inc. founder Sam Walton, in the top 10. Four members -- Jim, Christy, Robson and Alice -- slipped to 12th and 15th place.

The Waltons were displaced by Google co-founders Sergey Brin and Larry Page, who came in at No 5 with fortunes of USD 18.5 billion, and brothers Charles and David Koch, who run Koch Industries, the world's second largest private company, and are each valued at USD 17 billion, earning them 9th place.

Investor Kirk Kerkorian was the biggest gainer on the list, his fortune rising by more than USD 9 billion in the past year to USD 18 billion. He debuted in the top 10 at No 7 -- up from No 26 last year.

Michael Dell, chief executive of Dell Inc, the world's second-largest PC maker, was No 8 on the list with a fortune of USD 17.2 billion.

Of the top 400 richest Americans, Forbes said 270 were entirely self-made, 74 inherited their wealth and 39 are women. There were 82 American billionaires who did not make the list.

The youngest member, and new to the list, is 33-year-old hedge fund manager John Arnold, who came in at No 317 with a USD 1.5 billion wealth, while the oldest is 98-year-old John Simplot, valued at USD 3.6 billion and No 214 on the

Courtesy : Expressindia.com