The board of Etihad Airways is expected to meet next week to decide on the future course of action and investments in Jet Airways. When contacted, a spokesperson of the airline told BusinessLine : “As a minority shareholder, Etihad continues to work constructively with the Jet Airways board, management team, and other stakeholders,” declining to […]
Category: Business Line
Business Line
Air India, Vistara snap ties with Jet Airways
Jet Airways passengers may have to suffer more if their flight is cancelled with full-service carriers such as Air India and Vistara having snapped cordial agreements with the debt-laden airline. Air India and Vistara have terminated ‘flight interruption manifest (FIM) agreement’ and ‘interline ticketing agreement facility’, respectively, with the airline. Aircraft grounded The development comes […]
ONGC, OIL among 14 outfits to secure blocks in 2nd DSF bid round
The Empowered Committee of Secretaries (ECS) and Group of Ministers have approved the award of 23 blocks under the second Discovered Small Field bid round. Oil and Natural Gas Corporation (ONGC) has bagged five blocks while Oil India Limited (OIL) has cornered two. A joint venture of Indian Oil Corporation Limited (IOCL) and Hindustan Oil […]
Suzlon Energy stock sizzles on stake-sale talk
After reaching an all-time low of Rs. 2.75 (for a Rs. 2 share) on February 5, the price of the Suzlon share has started moving up sharply. On Friday, it closed at Rs. 5.95 on the NSE, which was about 4 per cent higher than the previous close. The trigger appears to have been a […]
‘Natural gas network to cover 70% of population’
More than 70 per cent of India’s population will have access to natural gas supplies after the completion of projects awarded under the 10th round of city gas distribution bids. Speaking at an event to distribute Letter of Intents to 12 successful entities for the 50 Geographical Areas (GAs) under the 10th CGD Bidding Round, […]
ATF price soars 8.1%, still costs less than petrol, diesel
Jet fuel price was hiked by a steep 8.1 per cent on Friday to its costliest level this year as international oil prices rose, state-owned oil firms said. The price of Aviation Turbine Fuel (ATF) was hiked by ₹4,734.15 per kilolitre, or 8.15 per cent, to ₹62,795.12 per kl in the national capital, according to […]
‘₹5,000-cr highway projects on to decongest Delhi’
Highway projects worth ₹5,000 crore are under way to decongest the National Capital Region, Union Minister Nitin Gadkari said on Friday. Transport Minister Gadkari was addressing a gathering while laying the foundation stone of a ₹3,580-crore highway project here. The over 59-km-long highway project will start at Ring Road-DND junction and passing through Kalindi bypass […]
Coal imports would have been 1.5 times higher if not for Centre’s interventions: Goyal
Coal imports would have been 1.5 times higher at nearly 380 million tonnes (mt) for financial year 2017-18 if not for the Centre’s intervention, according to the Minister for Coal and Railways, Piyush Goyal. At a press conference to highlight the five-year achievements of his ministries, Goyal said that due to the Centre’s initiatives, coal […]
Natural gas networks to reach 70 per cent of India’s population: Pradhan
More than 70 per cent of India’s population will have access to natural gas services after the completion of projects awarded under the 10th round of city gas distribution bids. Speaking at an event to distribute Letter of Intents to 12 successful entities for the 50 Geographical Areas (GAs) under the 10th CGD Bidding Round, […]
Urja Global to set up ₹ 200-cr electric vehicle, lithium-ion battery unit in AP
Urja Global has signed a memorandum of understanding with Andhra Pradesh Economic Development Board (APEDB) for setting up a new plant to manufacture electric vehicles and lithium-ion batteries. Under this MoU, Urja Global plans to invest ₹ 200 crore and expects to create 250 direct and over 1,000 indirect jobs. The company has shortlisted Anantapur, […]
Oil prices slip on weak demand
Amid weak physical demand and global cues, the downtrend in oils continued at Indore mandis with soy refined down to ₹768-₹770 for 10 kg. Soy solvent ruled at ₹735-₹740. Palm oil was at ₹680 (down ₹18), cotton oil (Gujarat) declined to ₹698 and cotton oil (Indore) to ₹735 (down ₹15) for 10 kg. Groundnut oil […]
Oil rises on OPEC supply cuts; surging US output and economic slowdown weigh
International Brent crude futures were at $66.55 per barrel, up 24 cents, or 0.4 per cent Oil prices rose on Friday as markets tightened amid output cuts by producer club Organisation of the Petroleum Exporting Countries (OPEC), but surging United States (US) supply and a global economic slowdown prevented crude from climbing further. US West […]