Volvo Cars to launch plug-in hybrid in second half of 2019
NEW DELHI: Swedish luxury car maker Volvo Cars India would introduce ‘Make in India’ battery operated plug-in hybrid during the second half of this year, a top official has said. The company besides introducing the hybrid would also look at tapping rural markets in the country under its plan to expand footprint, Volvo India, Managing […]
India bans Boeing 737 Max 8 planes after Ethiopian Airlines crash
NEW DELHI: Government of India on Tuesday grounded Boeing 737 Max 8 aircraft used by the country’s airline companies in light of the Ethopian Airlines crash that killed 157 people. SpiceJet has around 12 ‘737 Max 8’ planes in its fleet, while Jet Airways has five. “DGCA has taken the decision to ground the Boeing […]
Bank of India raises Rs 660 crore by selling shares to employees
NEW DELHI: State-owned Bank of India (BoI) Tuesday said it has raised Rs 660.80 crore by issuing shares to employees under Employee Share Purchase Scheme (ESPS). The bank issued 6,25,52,188 shares of Rs 10 each to eligible employees, BoI said in a statement. It offered a discount of 24.28 per cent on the applicable price […]
JMC Projects secures new orders worth Rs 547 crore
NEW DELHI: JMC Projects (India) on Tuesday said it has won contracts worth Rs 547 crore for water pipeline, residential and commercial projects. The company, a subsidiary of Kalpataru Power Transmission Ltd, is into civil engineering, and engineering, procurement and construction works. “JMC…has secured new orders of Rs 547 crore,” it said in a statement. […]
Seven-phase Lok Sabha polls to begin April 11, counting on May 23
NEW DELHI: Lok Sabha elections will begin on April 11 and polling would be held over seven phases through May 19, followed by counting of all votes on May 23, the Election Commission announced on Sunday. Assembly polls in Andhra Pradesh, Arunachal, Odisha and Sikkim will also be held simultaneously, the Election Commission (EC) said. […]
Nirav Modi’s extradition request sent to court by UK home secy: ED
NEW DELHI: The United Kingdom’s home secretary has recently referred India’s request for extraditing PNB scam accused Nirav Modi to a court for initiating legal proceedings against the diamantaire, the Enforcement Directorate said on Saturday. “Request for extradition of Nirav Modi to India was sent in July 2018 to the UK. The UK Central Authority […]
NCLT approves ArcelorMittal’s Rs 45,000 crore Essar Steel takeover plan
NEW DELHI: The Ahmedabad bench of the National Company Law Tribunal (NCLT) on Friday approved AreclorMittal’s Rs 45,000 crore resolution plan for the insolvent Essar Steel. The committee of creditors of bankrupt Essar Steel had chosen ArcelorMittal as the highest bidder and submitted the Rs42,000-crore plan of the world’s largest steel maker before the NCLT […]
Odisha hikes pension, other benefits of construction workers
BHUBANESWAR: The Odisha government on Friday increased the monthly pension of retired construction workers of the state. As per the revision, the elderly construction workers would now get a monthly pension of Rs 500 instead of the existing Rs 300. Similarly, workers above the age of 80 years would get Rs 700 a month from […]
Narendra Modi to unveil several development projects in Greater Noida tomorrow
NEW DELHI: The Prime Minister of India Narendra Modi will visit Greater Noida in Uttar Pradesh tomorrow on 9th March 2019. He will launch various development projects at Pt. Deendayal Upadhyaya Institute of Archaeology in Greater Noida. The Prime Minister will unveil plaque to mark the inauguration of Pt. Deendayal Upadhyaya Institute of Archaeology. He […]
CCEA approves power projects worth over Rs. 31,000 crore
NEW DELHI: Cabinet committee of on Economic Affairs (CCEA) has taken several key decisions for strengthening of the power sector today. Approval was given for four projects worth over Rs. 31,000 crore located at Buxar (Bihar), Khurja (UP), Kishtwar (Jammu and Kashmir) and Sirwani (Sikkim). In addition to these, Cabinet approved measures to promote development […]
Swaraj, Jaitley and Gadkari lay foundation stones for Dwarka Expressway, Delhi-Mumbai Expressway
NEW DELHI: Union Minister for External Affairs Sushma Swaraj, Finance and Corporate Affairs Minister SArun Jaitley and Minister for Road Transport & Highways, Shipping, Water Resources, River Development and Ganga Rejuvenation Nitin Gadkari laid the foundation stones for development of 8-lane access controlled Dwarka Expressway and Delhi-Mumbai Expressway in Delhi today. The ministers also inaugurated […]
Subhash Chandra Garg appointed as Finance Secretary
NEW DELHI: The government of India on Friday appointed Economic Affairs Secretary Subhash Chandra Garg as the Finance Secretary, the Ministry of Personnel said. Garg succeeded Ajay Narayan Jha, who superannuated on February 28. The Appointments Committee of the Cabinet (ACC) headed by Prime Minister Narendra Modi has approved designating Garg as the Finance Secretary, […]
49 out of 119 Jet Airways aircraft are grounded, says DGCA official
NEW DELHI: More aircraft of beleaguered private carrier Jet Airways have been grounded, mainly due to non-payment to lessors, taking the total number to 49, senior DGCA official said on Thursday. “At this moment, they (airline) have 70 aircraft that are operational. At early December, they were operating 100 aircraft,” a Directorate General of India […]
Bird Group to open three hotels in India in next 3-4 years
NEW DELHI: Bird Group on Tuesday said it is looking to open three luxury hotels under its brand ‘Roseate Hotels and Resorts’ in India and Middle East in next 3 to 4 years and is considering acquisitions for future expansion. The group currently has six properties with three of them in India including the recently […]
Cheaper home loans on anvil as majority of banks brace for 5-10 bps cuts by March 31
NEW DELHI: After initial dithering, banks are now falling in line to cut interest rates after the RBI asked them to do so last month. A low interest rate cycle is on the anvil with a majority of banks now settling to cut lending rates by 5-10 basis points. More banks will follow suit and […]
Emission fiasco: NGT slaps Rs 500 crore fine on Volkswagen
NEW DELHI: The National Green Tribunal (NGT) Thursday slapped a fine of Rs 500 crore on German auto major Volkswagen for damaging the environment through the use of “cheat device” in its diesel cars in India. A bench headed by NGT chairperson Justice Adarsh Kumar Goel directed the carmaker to deposit the amount within two […]