State-run oil marketing companies (OMCs) have decided to roll out the daily revision of fuel prices nationally from the second fortnight of June. However, this has raised concerns about viability and inventory management among dealers. Currently, Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) review retail fuel prices every fortnight […]
Day: June 8, 2017
Cairn turns to global panel for injunction against I-T dept over tax issue
UK-based Cairn Energy plc has approached an international arbitration panel seeking an injunction against Indian income tax department initiating proceedings to recover Rs 10,247 crore in retrospective tax. Within weeks of tax tribunal ITAT upholding levy of retrospective tax on 2006 transfer of shares by the UK firm to a newly created Indian unit Cairn […]
Gulf rift: Qatar Airways faces double-digit traffic decline, says CAPA
Due to the ban imposed on Qatar by neighbouring Gulf states, Qatar Airways could see double-digit decline in traffic, according to aviation consultancy CAPA. Qatar Airways has been forced to suspend its flight to Saudi Arabia, UAE, Bahrain and Egypt. Simultaneously, airlines from these countries (Emirates, Etihad, Gulf Air and others) have also suspended their […]
Cong raises NH-74 scam in Ukd assembly, attacks the Centre
The multi-crore national highway scam rocked the Uttarakhad Assembly as the budget session commenced today, with the opposition Congress demanding suspension of business listed for the day to hold a debate on the Centre’s alleged reluctance to order a CBI probe into the case. Leader of Opposition Indira Hridayesh referred to Union Minister for Road […]
SpiceJet to operate 8 new flights from July
Low-cost carrier SpiceJet on Thursday announced the launch of eight new direct flights and one connecting flight serving metro and non-metro cities, effective from July. The airline said it will operate new direct flights on Hyderabad-Jaipur, Jaipur-Guwahati and Hyderabad-Chandigarh routes, effective from July 1. Besides, it will operate daily direct flights to the new Patna-Mumbai, […]
Coal imports dip 6% in May on weak demand from power sector
India’s coal imports in May declined by 6 per cent to 18.15 million tonne (MT), year-on- year due to lackluster demand from the power sector and sufficient supply of domestic fuel. “Coal import (all type of coals) in May 2017 stood at 18.15 MT (provisional), against 19.38 MT in May 2016,” according to mjunction services, […]
Tata Power Company signs Distribution Franchisee Agreement with Ajmer Vidyut Vitran Nigam
Tata Power Company announced that it has signed a Distribution Franchisee Agreement with Ajmer Vidyut Vitran Nigam to cater to the power requirements of customers in Ajmer for a period of 20 years. To serve the purpose, Tata Power has formed a special purpose vehicle – TP Ajmer Distribution, which will be responsible for operating […]
Topaz Solar Power to set up 500 MW unit in Odisha for Rs 220 cr
Kolkata-based Topaz Solar Power proposes to set up a solar module manufacturing plant in Odisha with an annual capacity to produce 500 megawatts (Mw) of solar panels. This will be the first solar panel manufacturing facility in the state, which of late has identified renewable energy as a priority area. The project, which will come […]