The Railways has terminated the services of NHSRCL Managing Director Satish Agnihotri who was in charge of the government’s prestigious bullet train project, senior officials said on Thursday. Rajendra Prasad, Director, Projects, National High Speed Rail Corporation Limited (NHSRCL) has been handed over the charge for three months, the officials said. Senior Railway officials said […]
Category: Business Standard
Business Standard
Production from captive, commercial coal mines rises 79% in June quarter
The production from captive and commercial coal blocks has increased by 79 per cent to 27.7 Million Tonnes (MT) in the June quarter. The coal ministry also expressed hopes that the targeted production of 32 MT from captive and commercial mines during the second quarter of FY23 will be achieved. “Production from coal blocks during […]
India’s coal-based power generation rises 27% in June: Govt data
Coal-based power generation increased by 26.58 per cent to 95,880 million units in June, as per official data. This comes in the wake of several parts of the country witnessing power outrages in the peak summer months of April and May due to shortage of coal supplies at various thermal plants. Coal-based power generation stood […]
Oil dips as investors torn by tight supply worries and recession fears
Oil prices slipped in early Asian trade on Friday, following a rebound in the previous session, as investors remained torn between worries over tight global supplies and fears a recession could dampen oil demand. Brent crude futures fell 39 cents, or 0.4%, to $104.26 a barrel by 0013 GMT, dropping away from a near 4% […]
Oil prices rise by over $5 as tight supply outweighs recession fears
Oil prices surged on Thursday, rebounding from steep losses the previous two sessions, as investors returned their focus to tight supply despite nagging fears of a potential global recession. Brent crude futures were up $5.39, or 5.4%, at $106.08 a barrel by 12:23 p.m. EDT (1623 GMT). U.S. WTI crude futures climbed $5.61, or 5.7%, […]
Brent holds above $100 in tussle between supply and recession fears
LONDON (Reuters) – Oil prices were steady on Thursday after steep losses in the previous two sessions, as investors returned their focus to tight supply even as fears of a global recession persisted. Brent crude futures rose 14 cents, or 0.1%, to $100.83 a barrel by 0900 GMT. WTI crude futures climbed 21 cents, or […]
Gas prices can’t be looked at in isolation: Puri on Rs 50 LPG price hike
A day after cooking gas LPG prices were hiked by Rs 50 per cylinder, Oil Minister Hardeep Singh Puri on Thursday said gas prices cannot be looked at in isolation and that fuel prices have been held steady despite volatility in international oil markets. At a media conference, when he was asked about the steep […]
Petronet touches 3000 LNG ship handling at Dahej terminal, to up capacity
Petronet LNG Ltd (PLL) said on Thursday announced it had received 3000th liquefied natural gas (LNG) shipment at its Dahej LNG Terminal in Gujarat. The terminal received its 100th LNG shipment in December 2005, 1000th LNG shipment in February 2013, and 2000th LNG shipment in June 2018, followed by 3000th shipment on July 7, 2022. […]
Pakistan’s $1-billion gas tender receives no takers amid energy crisis
Pakistan’s energy crisis looks set to drag on for months after another failed attempt by the nation to import gas. In an unusual development, state-owned Pakistan LNG didn’t receive a single offer in a $1 billion liquefied natural gas purchase tender, according to traders with knowledge of the matter. That illustrates both the extent of […]
Reconsider Cairn UK’s complaint against Vedanta: SAT to Sebi
The Securities Appellate Tribunal (SAT) has directed Sebi to hold an enquiry into the complaint filed by Cairn UK against Vedanta for non-payment of dividend to the tune of Rs 340 crore. In April 2017, the UK-based firm had filed a complaint to Sebi in connection with non-payment of dividend by Cairn India (since it […]
UK’s BII, M&M to invest $500 million in new EV entity valued at $9 billion
UK’s development finance institution British International Investment (BII) will invest Rs 1,925 crore into a new dedicated, four-wheeler electric passenger vehicle arm which Mahindra and Mahindra (M&M) will incorporate, the company said in a late night notification. M&M and BII will invest $250 million each into the new entity called EV Co. at a valuation […]
Chhattisgarh govt approves electric vehicle policy to create employment
The Chhattisgarh government on Thursday approved its Electric Vehicle (EV) Policy 2022 to make the state an EV-manufacturing hub, create employment, and reduce environment degradation. Chief Minister Bhupesh Baghel gave approval to the policy at a cabinet meeting. The government has set a target of five years in having EVs accounting for 15 per cent […]