Month: September 2021

India’s Defence Ministry approves procurement of military hardware worth Rs 13,165 crore

NEW DELHI: The defence ministry on Wednesday approved the procurement of military platforms and hardware worth Rs 13,165 crore that included 25 indigenously-developed ALH Mark-III helicopters for the Indian Army to boost its combat capabilities. The cost of acquiring the advanced light helicopters from the state-run Hindustan Aeronautics Ltd (HAL) has been estimated at Rs […]

Luxury carmaker Audi pitches for lower import duties on electric vehicles

NEW DELHI: German luxury carmaker Audi has termed high taxation on imported cars in India an impediment for growth of the electric segment while noting that even some relief in terms of duties could help it sell more vehicles and convince its headquarters to re-invest in the country for local manufacturing of such models. The […]

Reliance Infrastructure to raise Rs 750 crore through bond issue

NEW DELHI: Reliance Infrastructure on Saturday said its board has approved raising up to Rs 750 crore by issuing foreign currency convertible bonds (FCCBs) on a private placement basis. Reliance Infrastructure in a BSE filing also said that Sandeep Khosla has been appointed as Chief Financial Officer (CFO) of the company. “We hereby inform you […]

‘Dear POTUS…,’ tweets farmer leader ahead of Joe Biden’s meeting with Narendra Modi

NEW DELHI: Bharatiya Kisan Union (BKU) leader Rakesh Tikait on Friday appealed to Indians living in the US to hold a protest during Prime Minister Narendra Modi’s programme in New York on Saturday in support of the 10-month-long farmers’ agitation at Delhi’s borders. He also urged US President Joe Biden to focus on concerns of […]

Indian Army to procure 118 Arjun Mk-1A Main Battle Tanks for Rs 7,523 crore

NEW DELHI: The Defence Ministry placed an order to procure 118 Main Battle Tanks (MBTs) Arjun Mk-1A with the Heavy Vehicles Factory (HVF) in Chennai for the Indian Army on Thursday. The order, worth Rs 7,523 crore, will provide further boost to the ‘Make in India’ initiative in the defence sector and is a big […]

Airbus gets Rs 22,000 crore contract form Defence Ministry for 56 C-295 transport aircraft

NEW DELHI: India has formalised the acquisition of 56 Airbus C295 aircraft to replace the Indian Air Force (IAF) legacy AVRO fleet as India’s Defence Ministry inked a nearly Rs 22,000 crore contract with Airbus Defence and Space of Spain to procure 56 C-295 medium transport aircraft which will replace Avro-748 planes of the Indian […]

Air Marshal V R Chaudhari appointed next Chief of Air Staff

NEW DELHI: Government of India has decided to appoint Air Marshal V R Chaudhari, PVSM, AVSM, VM, presently Vice Chief of Air Staff, as the next Chief of the Air Staff after the retirement of Air Chief Marshal RKS Bhadauria, PVSM, AVSM, VM, ADC on 30th September, 2021. He has earlier served as the Air […]

World’s richest 500 lose $135 billion as Evergrande concerns spark market rout

By Tom Maloney & Blake Schmidt A global rout in stock markets sparked by concerns over China Evergrande Group hit the world’s biggest fortunes Monday, with the richest 500 people losing a combined $135 billion. Tesla Inc.’s Elon Musk led the declines as his world-leading net worth fell $7.2 billion to $198 billion, according to […]

Delhi-Mumbai Expressway to generate Rs 1,000 to 1,500 crore revenues every month: Nitin Gadkari

NEW DELHI: The government of India  will get toll revenues worth Rs 1,000 to 1,500 crore every month once the much-awaited Delhi-Mumbai Expressway becomes operational in 2023, Union minister Nitin Gadkari said on Sunday and described state-owned NHAI as a “gold mine” for generating income. Steering the ambitious drive to expand the country’s road infrastructure […]

In a first, BRO appoints woman Army officer as in-charge of road construction unit

NEW DELHI: The Border Roads Organisation (BRO) has appointed a woman Army officer for the first as the Officer Commanding of its 75 road construction company (RCC) in Uttarakhand, the Defence Ministry said on Sunday. The three platoon commanders under Major Aaina, Captain Anjana, AEE (Civ) Bhawana Joshi and AEE (Civ) Vishnumaya K became the […]

Kaushik Basu says manipulation of World Bank’s Doing Business ranking is ‘shocking’

NEW DELH: Terming allegations of manipulation of World Bank’s Doing Business Ranking as ‘shocking’, former chief economist of World Bank Kaushik Basu said on Saturday that pressure was there from governments during his tenure, but the multilateral institution never gave in. The World Bank Group has decided to discontinue publication of its Doing Business (DB) […]

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