Category: NEWS

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 […]

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 […]

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 […]

Sterlite Tech aims 10% global fibre market share by June 2020

NEW DELHI: Broadband technology provider Sterlite Tech is looking at commanding 10 per cent share of the global fibre market by June 2020, company’s chief executive Anand Agarwal said Monday. The company is also focussed on enhancing production capacity of optical fibre and optical fibre cables. “We are now looking to move fibre market share […]

Mother Dairy won’t cut prices despite Patanjali’s cheaper cow milk

NEW DELHI: Unfazed by the introduction of cheaper packaged cow milk by new entrant Patanjali group, market leader Mother Dairy Monday said the company will not reduce prices to match competition. Mother Dairy, which sells around 7 lakh litres of cow milk per day largely in Delhi-NCR market, also expressed confidence that its sales volume […]

Aruba to commence manufacturing in India

NEW DELHI: Aruba, a Hewlett Packard Enterprise company, today announced plans to initiate manufacturing of its diverse product portfolio in the fast-growing networking domain in India. The move, which aims to support the Make in India and Digital India initiatives, will also strengthen the Company’s existing R&D capabilities. Aruba is amongst the fastest growing providers […]

Hybrid vehicles crucial for future mobility: Niti Aayog member

NEW DELHI: Hybrid vehicles should be considered as key aspect in India’s journey to future mobility, Niti Aayog member V K Saraswat said Sunday. Moving towards electric vehicles directly from internal combustion engine (ICE) need proper infrastructure, and it will take time, Saraswat further said. Introduction of EV technology should begin with two-wheelers and three-wheelers […]

Nabard approves Rs 65,635 crore loan for 93 irrigation projects

NEW DELHI: The National Bank for Agriculture and Rural Development (Nabard) has approved Rs 65,634.93 crore loan so far to 93 prioritised irrigation projects under the government’s flagship scheme Pradhan Mantri Krishi Sinchai Yojana (PMKSY), its chairman H K Bhanwala said. The Nabard is funding the central and state share of 99 prioritised irrigation projects […]

Supreme Court of India appoints NBCC to construct stalled projects of Amrapali Group

NEW DELHI: The Supreme Court of India on Wednesday appointed state-run NBCC to develop the stalled projects of the Amrapali Group and directed the Debts Recovery Tribunal to sell the unencumbered commercial properties of the real estate firm. The top court directed the opening of an escrow account in the apex court in which the […]

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