Andhra Pradesh signs MoU with The Fishin
NEW DELHI: The Fishin, an America based company, entered into a Memorandum of Understanding (MoU) with the government of Andhra Pradesh regarding the cage cultivation of fish in water bodies in the presence of Chief Minister Chandrababu Naidu on Monday. Officials of the Fisheries department entered into the MoU with the company at the Chief […]
Petrol, diesel rates scale new highs
NEW DELHI: After a one-day hiatus, petrol and diesel prices on Tuesday were hiked again to new highs. While rates were not changed on Monday, a 10 paise per litre hike in petrol price and a 9 paise a litre increase in diesel was effected Tuesday, according to a price notification of state-owned oil marketing […]
Indian Rupee slides 47 paise to close at record low of 72.98 against US dollar
NEW DELHI: The Indian rupee on Tuesday dropped further by 47 paise to close at a historic low of 72.98/99 against the US dollar due to trade war concerns. The pound sterling also ended strong firm at Rs 95.84/86 per pound at the close of the Interbank Foreign Exchange (forex) market here. Following are the […]
India signs S$ 74 million financing loan agreement with World Bank
NEW DELHI: A Loan Agreement for IBRD Credit of US$74 million equivalent for the Uttrakhand Workforce Development Project (UKWDP) was signed with the World Bank here today. The Loan Agreement was signed by Sameer Kumar Khare, Additional Secretary, Department of Economic Affairs, Ministry of Finance, Government of India on behalf of the Government of India […]
India urges G-20 members to focus on services for enhancing global trade
NEW DELHI: India’s commerce and Industry Minister Suresh Prabhu led the Indian delegation for the G-20 Trade Ministers Meeting (TMM) held at Mar del Plata, Argentina on 14 September 2018. The G-20 TMM was represented by Ministers/Vice Ministers of G20 countries, 8 guest countries and 7 Heads/Deputy Heads of International Organisations such as WTO, ITC, […]
Jaypee group donates Rs 1.5 crore for flood-hit Kerala
NEW DELHI: Diversified infrastructure conglomerate Jaypee Group said that it has donated about Rs 1.5 crore towards relief and recovery efforts in Kerala which was recently ravaged by floods. On behalf of the Group, the cheque was handed over by R.R. Kumar and R.K. Dua, Sr. Vice President, Jaypee Group to Puneet Kumar, IAS, Resident […]
India modifies operational guidelines for Pradhan Mantri Fasal Bima Yojna
NEW DELHI: The Government of India has decided to incorporate the provision of penalties for States and Insurance Companies for the delay in settlement of insurance claims under the Pradhan Mantri Fasal BimaYojana (PMFBY). This crucial provision is part of the new operational guidelines issued by the Govt for the implementation of PMFBY.The farmers will […]
India again extends deadline to impose high import duties on 29 USA products till November 2
NEW DELHI: The government of India , for the second time, has extended the deadline for the imposition of higher customs duties on 29 products, including almond, walnut and pulses, imported from theUnited States of America (USA), till November 2. In June, India decided to impose retaliatory tariffs from August 4. But it was extended […]
India eyes record 285.2 MT foodgrain output in 2018-19
NEW DELHI: The government of India has set a target of record 285.2 million tonne (MT) foodgrain production in the 2018-19 crop year despite deficit rains so far this monsoon. India harvested a record 284.83 MT of foodgrain in the 2017-18 crop year (July-June). The target for 2018-19 crop year was set at a conference […]
DAC approves procurement of equipment worth Rs 9,100 crores
NEW DELHI: The Defence Acquisition Council (DAC), chaired by Raksha Mantri (Defence Minister ) Nirmala Sitharaman, met here today and accorded approval for the procurement of equipment for the Defence Forces valued at over Rs 9,100 crores. Pursuing the goal of indigenisation and self-reliance, the DAC approved procurement of two Regiments of Akash Missile Systems […]
Reliance Communications to exit telecom fully to focus on real estate: Anil Ambani
MUMBAI: Billionaire Anil Ambani on Tuesday announced that the cash-strapped Reliance Communications (RCom) will be completely exiting the telecom business to concentrate on real estate in future. The first priority for RCom, which is credited for democratising telecom services through cheaper offers in early 2000s, is to resolve its over Rs 40,000 crore debt, he […]
Another independent director of Jaypee Infratech resigns; fourth in last one week
NEW DELHI: Jaypee Infratech, which is facing insolvency proceedings, on Monday said that the company’s independent director Sham Lal Mohan has resigned citing personal reasons. Last week, three independent directors Lalit Bhasin, Keshav Prasad Rau and Basant Kumar Goswami had resigned from the board. Goswami resigned because of his growing age and indifferent health, and […]
Saudi Arabia to auction detained tycoon’s real estate assets: Sources
By: Marwa Rashad | Stephen Kalin RIYADH: Saudi Arabia will auction real estate owned by indebted billionaire Maan al-Sanea and his company starting next month to help repay billions of riyals due to creditors, sources familiar with the matter told Reuters. Sanea, ranked by Forbes in 2007 as one of the world’s 100 richest people, […]
Dalmia Cement aims to be carbon negative by 2040: Group CEO
NEW DELHI: Reducing transition risks and creating transition opportunities are the top priorities; emissions and energy intensities directly impact the operating costs and India’s Dalmia Cement aims to be carbon negative by 2040, says its Group CEO, Mahendra Singhi. “We are creating opportunities to abate costs by investing in low carbon technologies and processes,” Singhi […]
Bombay High Court ‘shocked’ over illegal constructions by Nirav Modi, others in Alibaug
MUMBAI: The Bombay High Court said on Monday it was “shocking” how fugitive jeweller Nirav Modi and several other individuals had been permitted to carry out illegal constructions along the beach in Alibaug town of Raigad district in Maharashtra. Holding that ignoring such violations was a case of “complete non-application of mind” by the authorities, […]
Congress accuses Modi government of favouring Adani in coal import case
NEW DELHI:Accusing the Narendra Modi government of promoting crony capitalism, the Congress on Monday asked it to come clean by appointing a special counsel in the Bombay High Court in a case of alleged over-invoicing of coal imports by industrialist Gautam Adani-led group. Congress spokesperson Jairam Ramesh also alleged that the Gujarat government has accepted […]