First tranche of land acquired for airport in Uttar Pradesh’s Jewar
NEW DELHI: The first tranche of land for the upcoming international airport in Uttar Pradesh’s Jewar, near Delhi, was on Tuesday acquired and transferred to the project’s implementing agency, officials said. The Gautam Buddh Nagar administration acquired the 80 hectare farm land and handed it over to the Yamuna Expressway Industrial Development Authority (YEIDA), they […]
Reliance, BP announce new joint venture to set up 5,500 petrol pumps
NEW DELHI: Reliance Industries Limited (RIL) and UK’s BP plc have agreed to form a new joint venture to set up 5,500 petrol pumps and retail aviation turbine fuel to airlines in India, said the two companies said on Tuesday. The companies ” have agreed to form a new joint venture that will include a […]
Change in terms of reference of 15th Finance Commission opposed in Rajya Sabha
NEW DELHI: A change in terms of reference of the 15th Finance Commission on division of funds between the Centre and state was on Tuesday opposed in the Rajya Sabha, with a member saying it was an attempt to occupy more fiscal space. BJD leader Amar Patnaik raised the issue through a Zero Hour mention, […]
Jet Airways employees seek interim financial relief till completion of resolution
NEW DELHI: Scores of Jet Airways employees on Tuesday gathered in the national capital and sought an interim financial assistance till completion of the insolvency resolution process. The once-storied full service carrier stopped flying on April 17 as it ran out of money for daily operations. An employees’ consortium has demanded that the Committee of […]
Reliance Jio, Bharti Airtel set to bid for RCom’s physical assets
NEW DELHI: Reliance Jio and Bharti Airtel have expressed interest in bidding for physical telecom infrastructure of Anil Ambani-led Reliance Communications which is undergoing insolvency proceedings, a source privy to the development told PTI. The two companies are , however, are not interested in buying spectrum held by RCom, the source said. The NCLT in […]
India to have 2,000 planes soon
NEW DELHI: The Indian aviation sector is witnessing phenomenal growth and there could be 2,000 planes in a short time, Union Civil Aviation Minister Hardeep Singh Puri said. Hardeep Singh Puri told the Lok Sabha that the country’s aviation sector is the third-largest in the world and there is an annual growth of 17 percent. […]
MCL employees demand resumption of operations in Talcher
BHUBANESWAR: Employees of Mahanadi Coalfields Ltd (MCL) on Monday sought resumption of operations in Talcher Coalfields where production and supply was stalled for the 13th day due to agitation by locals after a mishap at a mine killed four workers last month. Four workers were killed and nine others injured in the mishap at Bharatpur […]
Leisure Hotels Group to invest Rs 160 crore to add nine properties
NEW DELHI: Hospitality firm Leisure Hotels Group is looking to invest Rs 160 crore to add nine properties across the country to its portfolio by the end of 2021, a top company official has said. The group currently operates 27 boutique properties with around 875 rooms in India. “We will be investing Rs 160 crore […]
Punjab RERA constitutes group to examine laws related to real estate
CHANDIGARH: Punjab’s Real Estate Regulatory Authority has constituted a group to examine various laws related to real estate sector with a view to bring transparency and harmonise the real estate laws in the state, an official statement said here on Sunday. The statement quoting spokesperson of the Housing and Urban Development Department said the two-member […]
Telcos performance diverging in face of Reliance Jio’s growth: Fitch
NEW DELHI: Reliance Jio’s aggressive posturing has begun to show the divergent impact on entrenched telcos, with Vodafone Idea getting impacted sharply and Bharti Airtel holding on, a report said on Monday. The deep-pocketed Jio’s entry has so far impacted all the telcos, forcing mergers and also bankruptcy filings. For Vodafone Idea, it was the […]
Article 370: Former Supreme Court judge says nothing unconstitutional in revoking special status to Jammu and Kashmir
NEW DELHI: Former Supreme Court judge Justice (retd) Ashok Kumar Ganguly on Monday said that abolition of Article 370 that granted special status to Jammu and Kashmir is “apparently” not unconstitutional. He said the decision to grant special status to Jammu and Kashmir under Article 370 of the Constitution was temporary and transitional, and as […]
Vistara inks codeshare pact with SIA, SilkAir for international flights
NEW DELHI: Full service carrier Vistara on Monday announced signing of a codeshare partnership with Singapore Airlines (SIA) and its regional arm SilkAir for international flights ahead of the launch of services on the overseas routes. The domestic private carrier, which is 51 per cent owned by Tata Sons along with 49 per cent stake […]
Lower demand, protectionist measures abroad may dent value creation: Maruti
NEW DELHI: Maruti Suzuki India (MSI) has said headwinds like softening of demand in the domestic market and protectionist measures abroad may impact its ability to create value in the short term. The company, which has over 50 per cent market share in the domestic passenger vehicle industry, has been impacted by sluggish offtake and […]
DHL warns poor Mumbai airport infrastructure risks $5 trillion economy target
NEW DELHI:Global logistics major DHL Express is concerned about lack of adequate infrastructure at the city airport, warning this may be detrimental to the countrys $ 5-trillion growth aspiration as well. The company said there is only a single slot for all air freight operators and there is no scope for expansion at the nations […]
Nearly 2 lakh jobs cut in last 3 months across automobile dealerships: FADA
NEW DELHI: Around two lakh jobs have been cut across automobile dealerships in India in the last three months as vehicle retailers take the last resort of cutting manpower to tide over the impact of the unprecedented sales slump, according to industry body FADA. With no immediate signs of recovery, the Federation of Automobile Dealers […]
JM Financial arm to raise up to Rs 500 crore
NEW DELHI: JM Financial said its subsidiary JM Financial Products Ltd will raise up to Rs 500 crore by issuing bonds. JM Financial Products Limited (JMFPL) has filed the Tranche II prospectus for its non-convertible debentures (NCDs), with the Registrar of Companies, BSE and Sebi, JM Financial said in a filing. “The said Tranche II […]