Oil fell by more than 2 percent on Monday, pressured by a rise in Russian production, expectations that Saudi Arabia will cut prices of the crude it sends to Asia and a deepening trade spat between China and the United States. Brent crude fell $1.70, or 2.5 percent, to settle at $67.64 a barrel. That […]
Day: April 3, 2018
Bamboo to ethanol, India’s biofuel industry to explode into a $15 bn market
An oil refinery in a region in India that’s more famous for its tea plantations is hoping to put its abundant greenery to new use. A $200 million joint venture between Numaligarh Refinery Ltd. and Finnish technology firm Chempolis Oy will crush bamboo, the longest of the grass family, to produce 60 million liters of […]
Petrol at Rs 73.95 a litre in Delhi, highest since September 2013
Petrol prices continued to spiral on Tuesday, touching a nearly five year high of Rs 73.95 per litre in Delhi. The previous high in the capital was Rs 74.10 a litre in September 2013. In Mumbai, Kolkata and Chennai too, prices climbed to new multi-year highs at Rs 81.80, Rs 76.66 and Rs 76.72 a […]
Rise in prices: BCIC wants petroleum products under GST
Bangalore Chamber of Industry and Commerce has sought the intervention of GST Council to arrest the rising prices of petroleum products by bringing petroleum products under the GST. In the two-month span, petroleum prices have increased by Rs.15 per litre of petrol in Bangalore while it is much higher in other parts of the country, […]
Avista helped ICICI Bank clients to recast loans for a commission: Reports
Avista Advisory group, a Singapore based company run by ICICI Bank MD & CEO, Chanda Kocchar’s relative helped clients of ICICI Bank to restructure its loans for a commission, media reports said on Tuesday. Avista is set up by Rajiv Kochhar, brother of Chanda Kochhar’s husband Deepak Kochhar. Deepak Kochhar is facing a Central Bureau […]
Tata Communications and Mahanagar Gas Ltd to deploy 5,000 smart gas meters in Mumbai
Tata Communications will work with Mahanagar Gas (MGL) to deploy 5,000 smart gas meters in Mumbai. The telecom operator, on Tuesday, said that the new smart meters will give households and businesses visibility and control over their gas usage, allowing MGLto improve its operational efficiencies. Tata Communications’ public Internet of Things (IoT) network will provide […]
Construction target for highways: Each lane to be added under new formula
Ministry of Road Transport and Highways on Tuesday announced that the daily road construction target for the current financial year will be calculated as per lane length kilometre formula practised worldwide. “World over the road construction is calculated as per this formula,” Union road Minister Nitin Gadkari said. For instance if a 14-lane highway is […]