A mid-air engine failure forced an IndiGo flight bound for Lucknow to return to Ahmedabad, where it made an emergency landing this morning, an official said. The Airbus A320 Neo plane, which had 186 passengers on board, landed safely, Ahmedabad Airport director Manoj Gangal said. The aircraft, powered by Pratt & Whitney Neo engines, returned […]
Month: March 2018
Ahead of Air India bid, Jet Airways hires Delta’s M&A expert Piero Ceschia
Jet Airways has hired Piero Ceschia, a senior executive from Delta Airlines, known for his expertise in merger and acquisitions, ahead of a possible bid for Air India. Ceschia who served as vice president (strategic alliances) in Delta joined Jet Airways last week. Previously he has worked in senior finance and corporate strategy roles in […]
Coal India misses production target again; imports likely to increase
The import of thermal coal is likely to increase in the coming months, as Coal India is set to miss its production target again – for an 11th straight month – causing a fuel shortage at the country’s thermal power plants. This is particularly worrisome as the demand for coal is likely to increase further […]
New policy soon on biofuels with Rs 1 lakh crore potential: Dharmendra Pradhan
In a major move on sustainable development, the government is to soon bring out a National Biofuels Policy for a sector poised to become an economy worth Rs 1 lakh crore, Petroleum Minister Dharmendra Pradhan said on Wednesday. The policy would detail the architecture for India to make the move towards adopting second generation, or […]
Australian PM Turnbull backs Adani’s $16.5-bn mine project in Queensland
Australian Prime Minister Malcolm Turnbull on Wednesday strongly supported Indian energy giant Adani’s controversial 16.5 billion dollar coal mine in Queensland, saying the project has gone through extensive environmental permitting and should go ahead. Adani’s Carmichael mine and rail project in the untapped Galilee Basin has been held up by lack of financing and a […]
‘India’s deal on import of LNG from US to be milestone in ties’
India’s 20-year deal on import of natural gas from the US would be a “milestone” in bilateral ties and go a long way in strengthening and reinforcing trade relations between the two countries, Consul General of India Anupam Ray has said here. State-owned gas utility GAIL India has contracted 3.5 million tonnes per annum of […]
Air India sell-off to begin with airline arm, other three units to follow suit
The process of Air India’s (AI) sell-off is likely to begin with the airline arm first being put on the block. AI is to be split into four parts — AI-AI Express-AI SATS; ground handling unit; engineering units and Alliance Air — and be offered for sale individually. “The bid documents for the main airline […]
Oil prices fall as Trump adviser’s exit stokes trade war fears
Oil prices fell on Wednesday, pulled down by declining stock markets after a key advocate for free trade in the U.S. government resigned, stoking concerns Washington will go ahead with import tariffs and risk a trade war. Soaring U.S. crude oil production and rising inventories also dragged on crude prices, traders said. Gary Cohn, economic […]
Microsoft inks renewable energy deal for Bengaluru facility
Tech giant Microsoft today said it has inked its first renewable energy deal in India for powering its new facility in Bengaluru. The agreement will see Microsoft purchase 3 megawatts of solar-powered electricity from Atria Power for its new office building in Bengaluru, meeting 80 per cent of the projected electricity needs at the facility, […]
Government may not expand old national highways, but build new ones
In a change of track, the government is keen to build more greenfield national highways with straight alignment rather than expanding the existing corridors. Expansion of highway stretches often get delayed, particularly when these pass through habitations and commercial areas where land acquisition or removal of encroachments is tough. The road transport ministry, in a […]
Oil inches up on strong demand forecasts, OPEC-led output cuts
Oil futures rose on Tuesday for a third session, underpinned by robust demand forecasts and as ministers from OPEC touted the strength of its agreement to cut output to bolster prices. International benchmark Brent crude futures were at$65.67 per barrel at 0743 GMT, up 8 cents, or 0.12 percent. U. S. West Texas Intermediate (WTI) […]
BS-VI not to be the end of road for branded fuel sold by OMCs
Even though the National Capital Region (NCR) is gearing up for the formal launch of the much-awaited Bharat-VI grade of fuel, your favourite branded fuel variants such as Xtra Premium, Speed, Power and Turbojet will not be going off the market. According to industry sources, the companies are further expecting an increase in the sales […]