Daily Archives: October 12, 2017

IOC drops Chennai Petroleum merger plan

State-owned Indian Oil Corporation (IOC) has dropped plans to merge its subsidiary Chennai Petroleum Corp Ltd (CPCL) with itself, a top company official said. IOC holds 51.89 per cent stake in CPCL and had planned to merge the company with itself like it had done with another subsidiary, Bongaigaon Refinery and Petrochemicals Ltd (BRPL), more

KoPT allocates Rs 45 crore to upgrade roads in port area

The Kolkata Port Trust (KoPT) has allocated Rs 45 crore for three years, starting from 2015, for the development of city roads that fall under its jurisdiction. In the current financial year, the KoPT was planning to take up the repair and renovation work of a 10-km stretch, covering Transport Depot Road, Oil Installation Road,

Lufthansa to swallow lion’s share of Air Berlin’s planes

Germany’s biggest airline Lufthansa will buy up more than half of the aircraft of its bankrupt competitor Air Berlin, chief executive Carsten Spohr said Thursday. On a “great day” for the Frankfurt-based carrier, it will sign a contract to buy 81 of Air Berlin’s 144 planes and take on 3,000 of its 8,500 staff at

Kerala to raise Rs 10,000 cr from NRKs to fund 2 highways

The Pinarayi Vijayan-led Left Front government in Kerala is tapping the cash-rich expats from the state to mop up Rs 10,000 crore to finance major infrastructure projects by launching an NRK bond called ‘Pravasi Chitti’ (chits for the expats). The chits will be launched by the Kerala State Financial Services Enterprises (KSFE), a wholly-owned non-banking

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