Pakistan’s textile industry upset on move to not import cotton from India
KARACHI: Pakistan’s struggling textile industry has voiced its disappointment after the Imran Khan government rejected a proposal to import cotton from India, the world’s biggest producer, saying it is the need of the hour to avoid a massive slump in the country’s exports. The Cabinet headed by Prime Minister Khan on Thursday rejected the proposal […]
Coal India arm MCL registers record production, dispatch in FY21
NEW DELHI: Mahanadi Coalfields Ltd (MCL), a subsidiary of Coal India Ltd, on Friday said it has posted a record production of 148.01 million tonne and achieved the highest-ever dispatch of 146 million tonne in the 2020-21 fiscal. These achievements by the Odisha-based miner will help Coal India, a Maharatna PSU, strengthen its foundation to […]
Karnataka Bank targets over Rs 1.42 trillion business turnover in FY22
NEW DELHI: Public sector Karnataka Bank has targeted 12 per cent business growth in the current fiscal year, expecting total business of over Rs 1.42 lakh crore. The lender also said digital banking is the way forward and it is at the cusp of engineering a breakthrough in banking industry as ground has been already […]
RBI deputy governor BP Kanungo retires after completing 1-year extension
NEW DELHI: Against expectations of getting a second extension, the senior-most deputy governor BP Kanungo retired from the Reserve Bank of India (RBI) on completion of his one-year extension on Friday. Kanungo joined the RBI in 1982 and was in charge of currency management, external investments, operations, payment, and settlement system, among others, during the […]
Adani Enterprises bags Rs 1,169 crore highway project from NHAI in Odisha
NEW DELHI: Adani Enterprises on Friday said it has won a Rs 1,169.10 crore highway project in Odisha from the National Highways Authority of India (NHAI). The contract has been won by Adani Enterprises’ wholly-owned subsidiary Adani Road Transport Ltd (ARTL). “ARTL has received a letter of award (LOA) for …development of Six Lane Badakumari […]
Bajaj Auto reports sale of 3,69,448 units in March
NEW DELHI: Bajaj Auto on Friday said its total sales stood at 3,69,448 units in March.The Pune-based company had dispatched 2,42,575 units in March 2020, amid COVID-19 led disruptions. The company’s total domestic sales last month stood at 1,98,551 units while the same was at 1,16,541 units in the year-ago period, Bajaj Auto said in […]
Franklin Templeton Mutual Fund has no plans to exit its operations in India
NEW DELHI: Franklin Templeton Mutual Fund on Friday said its commitment to India remains ‘steadfast’ and the fund house has no plans to exit its operations in the country. This comes following media reports suggesting intervention by the fund house’s US-headquartered parent seeking the diplomatic route for a “just and fair” hearing by market regulator […]
Reliance Retail extends deadline to complete Rs 24,713 crore deal with Future Group
NEW DELHI: Reliance Retail Ventures, the retail arm of Reliance Industries, has extended the timeline for six months to complete its Rs 24,713 crore deal with Kishore Biyani-led future group to buy its retail and wholesale business. Reliance Retail Ventures Ltd (RRVL) has extended the timeline for the “Long Stop Date” from March 31, 2021 […]
National Highways construction touches record 37 km per day
NEW DELHI: Tremendous progress has been achieved in building of National Highways across the country in the last few years by the Ministry of Road Transport and Highways. The Ministry has achieved the record-breaking milestone of constructing 37 kilometres highways per day in year 2020-21, which is unprecedented. Minister for Road Transport & Highways and […]
Total grant of Rs. 60,750 crore for rural and Rs. 26,710 crore for urban local bodies released in 2020-21
NEW DELHI: The Department of Expenditure, Ministry of Finance on Wednesday released an amount of Rs. 4,608 crore to States for providing grant-in-aid to the local bodies. The grants are both for the Rural Local Bodies (RLBs) and Urban Local Bodies (ULBs). Out of this, RLBs will get Rs. 2,660 crore and ULBs will get […]
Indian Railways use Covid-19 as an opportunity to accelerate the speed of projects
NEW DELHI: Indian Railways has logged highest ever electrification of sections covering 6,015 Route Kilometer (RKM)in single year during 2020-21. Despite COVID pandemic, It has surpassed the previous highest of 5,276 RKM achieved in 2018-19. It is a proud moment for Indian Railways for achieving target of 6000 km plus electrification project completion during tough […]
Egypt may seek $1 billion in compensation for Suez Canal crisis
Egypt said it may seek around $1 billion in compensation after a giant container vessel blocked the Suez Canal for almost a week and roiled shipping markets. The figure is a rough estimate of losses linked to transit fees, damages incurred during the dredging and salvage efforts, the cost of the equipment, and labor, Suez […]
Amit Chadha takes charge as CEO & MD of L&T Technology Services
NEW DELHI: Amit Chadha has taken over as CEO & Managing Director of L&T Technology Services, effective April 1, in line with previous disclosures made to stock exchanges dated October 19, 2020. Prior to his elevation, he was serving the company as Deputy CEO & Whole-Time Board Member. Amit joined LTTS in 2009 and has […]