The Central Bureau of Investigation (CBI) on Friday continued quizzing Rajiv Kochhar, founder of Avista Advisory and brother-in-law of ICICI Bank Managing Director Chanda Kochhar in the Rs 32.50-billion Videocon loan controversy. On Thursday, Rajiv Kochhar was detained at Mumbai airport before he could board a flight for Singapore. He was interrogated for about seven […]
Day: April 6, 2018
Oil drops after U.S. President Trump threatens new China trade tariffs
Oil prices fell on Friday after U.S. President Donald Trump’s threat of new tariffs on China reignited fears of a trade war between the world’s two biggest economies. President Trump said on Thursday he had ordered U.S. trade officials to consider tariffs on $100 billion more of imports from China, escalating tensions with Beijing. Brent […]
Air India privatisation: Will IndiGo exit force govt to ease bidding terms?
Following IndiGo’s decision of not bidding for state-run Air India, the government might be pressured to tweak some of the key areas in the preliminary information memorandum that, according to many carriers, make it difficult to bid for the national carrier. There is no doubt, say experts, that IndiGo was the only domestic airline with […]
Hindustan Oil Exploration to increase production by more than three-fold
Hindustan Oil Exploration Company (HOEC), that has acquired entire share capital of Geopetrol International this week, said that it is set to increase its net production by more than three-fold from 1800 barrels of oil equivalent per day (boepd) to 8000 boepd in three years. “Through the acquisition, we have become the largest private sector […]
HPCL gets green nod to set up Rs 136-cr LPG plant in Bihar
State-run HPCL today received the environment clearance for setting up of a new LPG plant with bottling and storage facilities in East Champaran, Bihar that will entail an investment of Rs 136.4 crore. This will be the third LPG plant in the state. Currently, Hindustan Petroleum Corporation Ltd (HPCL) has only two LPG plants in […]
Indian state firms plan to nearly double Iranian oil imports -sources
Indian state refiners plan to almost double oil imports from Iran in 2018/19, drawn by incentives offered by Tehran, sources with knowledge of the matter said, potentially helping Iran increase its share in the world’s third-biggest oil importer. Iran is pushing to retain its oil customers in Asia, offering better terms than other Middle Eastern […]
Wind power tariff firms at Rs 2.5/unit in SECI auction
Wind power tariff firmed up further to Rs 2.51 per unit in the auction of around 2,000 MW capacities conducted by state-run Solar Energy Corporation of India(SECI), a source said. Wind energy tariffs had reversed their downtrend in February auction to quote at Rs 2.44/unit against all-time low of Rs 2.43/unit in an auction conducted […]