Vistara, the Indian affiliate of Singapore Airlines Ltd., is in talks with Airbus SE and Boeing Co. to buy jets worth as much as $8.5 billion as the carrier seeks to tap India’s growing middle class, according to people familiar with the plans. Vistara, a joint venture with majority owner Tata Group, is seeking to […]
Month: February 2018
Border, Northeast push take ministry ahead of NHAI in road project awards
More than 15 years ago, the Bharatiya Janta Party (BJP) -led National Democratic Alliance (NDA) government of the time made an incumbent’s election pitch around the so-called ‘India Shining’. Key to this pitch was the ‘Golden Quadrilateral’ project of National Highway Authority of India (NHAI). Today, a decade and a half later, under another BJP-led […]
AirAsia starts Kuala Lumpur-Jaipur direct flight
Malaysian budget carrier AirAsia today said it will operate direct flight from Kuala Lumpur to the city four times a week. The airline is also offering a promotional scheme of all-in-fares of Rs 3,555 (one-way), beginning February 5 until February 11 for travel period between February 5 and July 31. The premium flatbed is also […]
Oil prices fall amid market sell off, Brent near one-month low
Oil prices on Monday extended declines from the end of last week amid a wider market sell off and a stronger dollar, with Brent crude falling to its lowest in nearly a month. Other markets dropped as investors were spooked by Friday’s payrolls report from the United States, which showed wages growing at their fastest […]
ONGC is said to expect delays in its biggest project
Oil and Natural Gas Corp. is facing a delay of at least a year in starting production from its biggest project, according to people with knowledge of the matter. The nation’s top explorer, which planned to produce gas from a deep water block in the Krishna-Godavari Basin off the country’s east coast from June 2019, […]
Opposition to Oz projects abetted by NGOs, competitors: Adani
Adani Group Chairman Gautam Adani today said the intense resistance to his group’s Australian coal mining project was “abetted by some international NGOs and competitors” and termed personal attacks on him as “vicious”. The Adani Group entered Australia in 2010 with the purchase of greenfield Carmichael coal mine in the Galilee Basin in central Queensland, […]
IOC to invest Rs 3,400 crore in Assam to augment operations
Indian Oil Corporation will invest Rs 3,400 crore in Assam over the next five years to expand its operations by setting up new units as well as upgrading the existing ones, a senior IOC official said today. The company will sign a Memorandum of Understanding (MoU) with the Assam Government to this effect at the […]
Solar tariffs perk up in latest Karnataka auction
Solar tariffs rose sharply from their lowest level in the latest solar auction of 860 MW conducted by Karnataka’s Renewable Energy Development Ltd (KREDL). The lowest price was Rs 2.94 per unit, way above the winning tariffs of Rs 2.47 and Rs 2.44 per unit at the last two auctions in Rajasthan in December and […]
Coal India Apr-Jan output at 440 MT, trails target
State-owned Coal India produced 440 million tonnes of coal in the April-January period of the ongoing fiscal, missing the target by 29.2 million tonnes. Coal India’s production target for the first 10 months of the ongoing financial year was 469.90 MT, according to a regulatory filing by the PSU. The company’s production for the month […]
MRPL posts 71% rise in Q3 net profit at Rs 970 cr
Mangalore Refinery and Petrochemicals Ltd (MRPL) today reported a 71 per cent jump in its third quarter net profit at Rs 970 crore on the back of higher refining margins. Its net profit stood at Rs 567 crore in the same period of the previous fiscal, the company said in a statement. MRPL, a subsidiary […]
Hike of 60 per cent in LPG scheme target fuels investor fears
The proposal to expand free cooking gas programme to include 8 crore poor families, up 60% from 5 crore planned earlier, will give more women freedom from hazardous kitchen smoke, but the likely increase in the subsidy has raised concerns that oil companies may have to foot the bill. Shares of state oil firms fell […]
300MW Kishenganga project likely to commission this year: Dy CM
The 300 MW Kishenganga hydroelectric power project, executed by NHPC, is likely to be commissioned this year and it will go a long way in augmenting the power generation capacity, Deputy Chief Minister Nirmal Kumar Singh said. Winding up the discussion on the Demands for Grants of the Power sector in the Legislative Assembly last […]