Any entity having adequate finances and ability to run Air India can bid for 76 per cent stake in the national carrier, DIPAM (Department of Investment and Public Asset Management) secretary Neeraj Gupta said today. The government had last month floated a preliminary information memorandum inviting bidders to buy 76 per cent stake in loss-making […]
Month: April 2018
Oil soars to 3-yr high as Saudi withholds supply, seeking $80-100 a barrel
Oil prices on Thursday remained close to late 2014-highs reached in the previous session as US crude inventories declined and as top exporter Saudi Arabia pushes for prices of $80 to $100 per barrel by continuing to withhold supplies. Brent crude oil futures were at $73.82 per barrel at 0325 GMT, up 34 cents, or […]
CBI arrests 3 promoters of Diamond Power in Rs 26.54-bn fraud case
The Central Bureau of Investigation (CBI) on Wednesday arrested the promoters and directors of Diamond Power Infrastructure Ltd, a Vadodara-based firm accused of an alleged loan default. The probe agency arrested Suresh Narain Bhatnagar, Amit Bhatnagar, and Sumit Bhatnagar, as part of an ongoing investigation, for allegedly cheating numerous banks by falsification of accounts, the […]
China moots India-Nepal-China economic corridor through Himalayas
China today proposed a India-Nepal-China economic corridor with multi-dimensional connectivity through the Himalayas as it seeks to expand its influence over the new Nepalese government headed by Prime Minister K P Sharma Oli, widely regarded as pro-Beijing. China’s proposal came after visiting Nepalese Foreign Minister Pradeep Kumar Gyawali held talks with his Chinese counterpart Wang […]
Domestic carriers flew 28.03% more passengers in March: DGCA
Domestic airlines registered a 28.03% growth in passengers flown during March compared to that a year ago, data released by the aviation regulator showed. As per the data, released by the Directorate General of Civil Aviation (DGCA) on Wednesday, Indian carriers carried 11.6 million passengers during the month, up from 9.0 million in March 2017. […]
India jet fuel demand to soar as domestic air travel takes off
An Indian push to connect more cities via airports as an expanding middle class increasingly takes to the skies is set to help propel the country’s demand for jet fuel to record highs this year. That rapid growth in appetite for aviation fuel means the country’s refiners are far less likely to send cargoes abroad, […]
Oil gains after drop in U.S. inventories adds to supply concerns
Oil prices rose on Wednesday, lifted by a reported decline in U.S. crude inventories and the risk of supply disruptions. Brent crude oil futures were up 54 cents at $72.12 a barrel by 0941 GMT, while U.S. WTI crude futures were up 60 cents at $67.12. “Yesterday evening saw the API report a surprising decrease […]
British PE firm Actis close to buying solar assets of India’s Shapoorji Pallonji: Reports
British private equity firm Actis is close to signing a deal to buy the solar power portfolio of Indian conglomerate Shapoorji Pallonji, three people aware of the development said on Tuesday. The acquisition of Shapoorji’s 400 megawatt (MW) solar power portfolio will be done via a renewable platform owned by Actis named “Sprng Energy” at […]
From Delhi to Mumbai in 12 hours flat? Expressway to be ready in 3 years
Union Minister for Road Transport and Highways Nitin Gadkari on Monday said the government would start building a new expressway connecting Gurgaon and Mumbai. The project will cost approximately Rs 1 trillion. This comes as a huge relief to those who frequently travel between Delhi and Mumbai as this expressway would cut down the travel […]
India probes dumping of EVA sheets for solar modules by 5 nations
India has initiated a probe into the alleged dumping of EVA sheets used in solar cell industry, imported from China, Malaysia, Saudi Arabia, South Korea and Thailand. The investigation on imports of ‘Ethylene Vinyl Acetate (EVA) sheets for solar modules’ is carried out by the Directorate General of Antidumping and Allied Duties (DGAD), which is […]
India’s ONGC files arbitration claim against Sudan over unpaid oil dues
The foreign acquisition unit of India’s Oil and Natural Gas Corp’s (ONGC) has filed an arbitration claim against the government of Sudan in a London court, a company official said, seeking to recover dues pending for years from a project hit by the breakaway of South Sudan in 2011. People familiar with the matter in […]
Shell out more to sit with family on Air India flights
National carrier Air India on Monday introduced seat selection fee for most rows on both domestic and international flights. Earlier, it used to charge only for the front row seats on long-haul flights. With this, yet another airline has imposed the middle seat selection fee or “family fee” as it is known in certain countries […]