India’s decision to continue buying oil from Iran after November 4 and purchase the S-400 Triumf air defence system from Russia is “not helpful” and the US is reviewing it “very carefully”, the State Department has said. The US is trying to cut off all oil imports from Iran following President Donald Trump’s decision in […]
Day: October 12, 2018
India targets oil traders for $1.5 billion emergency oil reserve
India is seeking $1.5 billion of investments from global oil producers and traders to build additional emergency crude reserves that will act as a buffer against volatility in oil prices. The plan is to build underground caverns that can hold a combined 6.5 million tons of crude at two locations, Indian Strategic Petroleum Reserves Ltd. […]
Power stocks rally; Tata Power, CESC, Adani Power gain up to 16%
Shares of electric utility companies such as Tata Power, Reliance Infrastructure, Adani Power, CESC and JSW Energy have rallied by up to 16% on the BSE in intra-day trade on hopes of the Gujarat government’s panel may bring Rs 1.29 trillion relief to state’s three stranded power projects. Tata Power soared 16% to Rs 72.15 […]
SECI’s Manufacture-linked bids put off, for fourth time
State-run Solar Energy Corporation of India (SECI) has postponed, for the fourth time, its first manufacturing-linked solar auction of 10,000 MW. The government’s earlier effort to stimulate local manufacturing of solar equipment through special auctions had run afoul of WTO rules and SECI, an arm of the ministry of new and renewable energy (MNRE), is […]
Suresh Prabhu directs high-level inquiry in AI Express flight mishap
Civil Aviation Minister Suresh Prabhu has directed a high-level enquiry into an incident in which an Air India Express Trichy-Dubai flight hit the compound wall of ATC at the Trichy International Airport on the intervening night of Thursday and Friday. The Minister further informed that a sub-committee has been formed by Air India for looking […]
Wifi on board on SpiceJet flights likely from next month
Indian passengers can expect to surf data and make calls on board from next month, as SpiceJet today said that they will become the first airline to offer wifi on board, as their new Boeing 737 Max is fitted with systems to make it possible. “We have also selected a service provider and as soon […]