Additional borrowing permission of Rs 16,728 crore granted to 5 states
NEW DELHI: Narendra Modi government (Centre) has granted permission for additional mobilise additional financial resources to the tune of Rs 16,728 crore through open market borrowings to five states. The permission has been granted as the state have so far completed the stipulated reforms in the ease of doing business. These states are Andhra Pradesh, […]
Apple puts Wistron on probation after violence at Karnataka plant
NEW DELHI: Apple on Saturday placed Wistron Corporation on probation after finding fault with the company over payment delays in October and November to workers at the Taiwanese contract manufacturer’s Narasapura facility near the Karnataka capital. The development comes one week after violence broke out at the Wistron’s Narasapura facility as a large number of […]
Numaligarh Refinery’s Rs 949 crore plan to boost capacity, lay pipelines to Odisha, West Bengal
NEW DELHI: The state-owned Numaligarh Refinery Limited (NRL) in Assam has undertaken an ambitious Rs 949 crore plan to augment its capacity and lay 2,200 km of crude oil pipeline from the Paradip port in Odisha to Numaligarh, and product pipeline from Numaligarh to Siliguri in West Bengal, officials said on Saturday. A senior NRL […]
Nand Kishore appointed executive director of IL&FS
NEW DELHI: Infrastructure Leasing and Financial Services (IL&FS) on Sunday said the Ministry of Corporate Affairs has approved the appointment of Nand Kishore as the group”s executive director. Till now, Kishore was serving on the IL&FS board as non-executive director, the company said in a release. “Based on the recommendation of the Nomination and Remuneration […]
6 suitors submit bids for acquiring Reliance Home Finance
NEW DELHI: Six suitors, including Kotak Special Situations Fund (KSSF) and Asset Reconstruction Company (India) Limited (ARCIL), have submitted bids for Reliance Home Finance, part of Anil Ambani-promoted Reliance Group. Only two bidders submitted compliant and binding bids while four bids are non-binding and not compliant with bid conditions, sources said. Lenders have decided to […]
Reliance, BP announce first gas from Asia’s deepest project
NEW DELHI: Reliance Industries Limited (RIL) and BP have announced the start of production from the R Cluster, ultra-deep-water gas field in block KG D6 off the east coast of India. RIL and BP are developing three deepwater gas projects in block KG D6 – R Cluster, Satellites Cluster and MJ – which together are […]
S K Singhal appointed new DGP of Bihar
NEW DELHI: The Bihar government on Saturday appointed senior IPS officer S K Singhal as the Director General of Police (DGP) of the state, according to a notification issued here. Singhal has been holding the additional charge of DGP after then state police chief Gupteshwar Pandey took voluntary retirement from service in September. “Sanjeev Kumar […]
Revamp forest department in Delhi: NGT
NEW DELHI: The National Green Tribunal (NGT) has directed the authorities concerned to revamp the forest department in Delhi appropriately for the protection of environment and a meaningful enforcement of the rule of law. A bench headed by NGT Chairperson Justice Adarsh Kumar Goel took note of a report filed by the Principal Chief Conservator […]
Power consumption grows 4.8% in first half of December
NEW DELHI: India’s power consumption grew 4.8 per cent to 50.36 billion units (BU) in the first half of December this year, showing consistency in economic activities, as per government data. Power consumption was recorded at 48.04 BU during December 1-15 last year, according to the power ministry data. For the full month of December […]
Top 2 telcos consolidating market share; Vodafone Idea likely to lose revenue market share: Report
NEW DELHI: Top two telecom companies Jio and Bharti Airtel are consolidating market share moving the industry possibly towards a “near 2-player structure”, with Vodafone Idea facing the prospects of losing revenue market share (RMS) as it struggles financially, according to a report by IIFL Securities. The latest note by IIFL Securities also indicated that […]
Fuel supply by Coal India Limited to power sector drops 5% to 277 MT in April-November
NEW DELHI: Coal supply by state-run CIL to the power sector declined by 5.3 per cent to 277.46 million tonne (MT) in the April-November period of the ongoing fiscal. The state-owned company had supplied 292.88 million tonnes of coal to the power sector in the corresponding period of the previous fiscal, according to official data. […]
Stainless steel industry seeks zero duty on ferro-nickel, scrap in upcoming Budget
By Abhishek Sonkar NEW DELHI: Ahead of the Budget, the Indian Stainless Steel Development Association (ISSDA) has urged the government to remove import duty on ferro-nickel and stainless steel scrap. Currently, ferro-nickel and stainless steel scrap attract basic customs duty (BCD) of 2.5 per cent. In its recommendations to Finance Ministry for the upcoming Budget […]
Air India privatisation unlikely to conclude this fiscal
NEW DELHI: Privatisation of Air India may spill into next fiscal year as the divestment process is unlikely to conclude in the remaining a little over three months of 2020-21, an official said. Salt-to-software conglomerate Tata Group and US-based fund Interups Inc were among “multiple” entities that put in preliminary bids last week for buying […]
Contempt plea cites non-compliance of 2017 order, Supreme Court seeks states’ response
NEW DELHI: The Supreme Court has sought a response from all state governments on a contempt petition over non-compliance of its September 2017 direction to the executive in all the states to frame appropriate guidelines or recruitment rules for the State Pollution Control Boards (SPCBs) within a deadline of six months. Citing issues of environmental […]
We need more funds from Modi government to repair highways due to floods: Yediyurappa
BENGALURU: Karnataka on Saturday appealed to union minister of Road Transport & Highways, Micro, Small & Medium Enterprises, Nitin Gadkari to release adequate grants to take up flood damage repair works as Karnataka has suffered severe damages to infrastructure including National Highways. For the last one year, BS Yediyurappa has come under severe attack from […]
Donald Trump downplays Russia in first comments on hacking campaign
By JILL COLVIN and MATTHEW LEE WASHINGTON:Contradicting his secretary of state and other top officials, President Donald Trump on Saturday suggested without evidence that China — not Russia — may be behind the cyber espionage operation against the United States and tried to minimize its impact. In his first comments on the breach, Trump scoffed […]