YS Malik, the Chairman of National Highways Authority of India (NHAI) has written to the Chief Secretary of Uttarakhand S Ramaswamy and demanded that the names of NHAI officials be dropped from an FIR in a land acquisition scam worth Rs 240 crore, related to the widening of National Highway-74 (NH-74). Malik’s letter stated that […]
Month: May 2017
Oil slips as more U.S. drilling outweighs OPEC-led cuts
Oil prices slipped on Monday as further increases in U.S. drilling activity undercut an OPEC-led push to tighten supply. Trading was subdued due to public holidays in China, the United States and Britain, but concerns lingered over whether OPEC action would be enough to stem the tide of oversupply. Brent crude futures were trading down […]
NTPC posts 25.5 percent fall in fourth-quarter profit on one-off charge
State-controlled utility NTPC Ltd reported a 25.5 percent fall in quarterly profit after taxes, hurt by higher expenses and a one-off charge on impairment loss on investment. Net profit was 20.79 billion rupees ($322.31 million) in the quarter ended March 31, compared with 27.93 billion rupees a year earlier, the company said on Monday. The […]
Road EPC companies set for 15% topline growth in FY18: Crisil
The road ministry’s efforts to improve the financial health of road companies in the country have paid off. According to ratings agency Crisil, credit profile of road engineering, procurement and construction (EPC) companies have shown a sharp turnaround. The Crisil report added that these road EPC companies are set for 15% topline growth in current […]
ADB provides $616 mn loan to improve power systems in Bangladesh
The Asian Development Bank (ADB) will provide a $616 million loan to Bangladesh to help the south Asian nation meet its goal of providing 100 percent access to electricity to its citizens by 2021. The project includes rehabilitation and expansion of over 50,000 kilometers of rural distribution network across the country, construction of a 174-km […]
Government clarifies tax on solar power equipment, parts at 5%
The government will levy a 5 per cent tax on all equipment required for generating solar power compared with nil duty now, a government official clarified, putting an end to confusion about the new taxation policy for the industry after its landmark tax reform. “All solar equipments and its parts would attract 5 per cent […]
US might ban laptops in aircraft cabins on all international flights
The United States might ban laptops from aircraft cabins on all flights into and out of the country as part of a ramped-up effort to protect against potential security threats, US Homeland Security Secretary John Kelly said on Sunday. In an interview on Fox News Sunday, Kelly said the United States planned to “raise the […]
British Airways doesn’t blame Indian firm for flight disruption
British Airways has not blamed any Indian IT firm for the massive flight disruption over the last weekend that hit more than 1,000 flights. Reacting to the incident that saw most services cancelled from London’s Heathrow and Gatwick airports on May 27, British Airways told The Registrar that the problem occurred due to “power failure” […]
Won’t oppose direct infra fund for Adani’s coal mine: Queensland Govt
The Queensland government said today it will not oppose any direct infrastructure fund transfer from the Australian federal government for Adani group’s controversy-hit Carmichael coal mine project, which is in limbo. “We will not stand in the way of those arrangements. In the case of the Carmichael Mine, any funds will pass directly from the […]
Natural gas production no longer profitable business: ONGC
State-owned Oil and Natural Gas Corp (ONGC) has said that producing natural gas is no longer a profitable business for the company as the government-mandated gas price is significantly below the cost of production. The BJP-led government had in October 2014 evolved a new pricing formula using rates prevalent in gas surplus nations like the […]
Adani has to pay royalties for coal mine: Australia state premier
Adani Enterprises will get no exemption or discounted rates on royalties it has to pay to develop its Carmichael coal mine project in Australia, Queensland state Premier Annastacia Palaszczuk said on Saturday. Ministers from the centre-left state government made the decision on Friday, putting an end to speculation that the Indian company would be offered […]
Airbus helicopters starts construction of assembly line in China
Airbus Helicopters, the world’s largest supplier of commercial helicopters, has started building an assembly line in China in what Europe’s largest aerospace group said was a key step in its plans to tap into the Chinese market. The company’s final assembly line will be located in Qingdao, eastern China, with construction expected to be completed […]