Investor wealth tumbles Rs 6.59 trillion as new Covid-19 strain jolts markets
NEW DELHI: Investor wealth eroded by Rs 6.59 lakh crore on Monday as equities tanked after the UK reported a new strain of the COVID-19 virus. The 30-share BSE Sensex plunged 1,406.73 points or 3 per cent to close at 45,553.96. The benchmark hit an all-time high of 47,055.69 during the session. Following the sharp […]
Costa Rican hybrid sailboat aims to reduce shipping industry’s carbon footprint
By Alvaro Murillo PUNTA MORALES: Some 200 workers from 27 nations are building a hybrid sailboat on the Pacific coast of Costa Rica designed to carry 350 tons of goods, hoping to demonstrate that in the 21st century it is possible to transport cargo without polluting the environment. Inspired by the historic Finnish trading schooner […]
SpiceJet to start Mumbai-Male flights from Thursday
NEW DELHI: SpiceJet on Monday said it will start operating flights on Mumbai-Male route in a phased manner from December 24. These flights will operate under the bilateral air bubble arrangement established between India and the Maldives, the airline said in a press release. It will deploy its Boeing 737 aircraft on this route, the […]
Concern among Muslims over halal status of COVID-19 vaccine
By VICTORIA MILKO JAKARTA:In October, Indonesian diplomats and Muslim clerics stepped off a plane in China. While the diplomats were there to finalize deals to ensure millions of doses reached Indonesian citizens, the clerics had a much different concern: Whether the COVID-19 vaccine was permissible for use under Islamic law. As companies race to develop […]
Pepsico to set up potato chips unit in Uttar Pradesh
NEW DELHI: ‘PepsiCo’, the multinational food and beverages company is going to set up a new (greenfield) potato chips production unit in Uttar Pradesh with an investment of Rs 814 crore. According to the government spokesman, the unit will be set up on about 35 acres of land provided by the State Industrial Development Authority […]
17 per cent work of Mumbai coastal road completed so far: BMC chief
NEW DELHI: Nearly 17 per cent work of the ambitious eight-lane coastal road project, undertaken to ease traffic woes in Mumbai, has been completed so far, BMC commissioner Iqbal Singh Chahal said on Monday. The 29.2 km-long seaside road project has been undertaken by the Shiv Sena-led Brihanmumbai Municipal Corporation (BMC) to connect Marine Drive […]
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 […]