By the end of this year, you can expect an express security check at Delhi’s Indira Gandhi International Airport, as the airport is planning to deploy a new automated tray return systems (ATRS) that will reduce the time taken for security checks by half. To reduce human intervention, increase efficiency and number of passengers passing […]
Month: June 2018
Government puts off Air India stake sale for now
The government has decided not to go ahead with Air India stake sale in an election year and will provide required funds for its operations, a senior official said today. The decision comes less than 3 weeks after the proposed 76 per cent strategic stake sale in debt laden national carrier failed to attract any […]
OMCs day: IOC, HPCL, BPCL rally up to 6% after Brent, WTI crude oil prices hit 2-month low
Shares of domestic oil retailers IOC, HPCL, BPCL rose up to 6% in the mid-morning trades on Monday after Brent, WTI crude oil prices extended losses and hit a two-month low with Brent crude oil declining by $4 a barrel in last 4 days. Shares of state-owned Mumbai-headquartered HPCL (Hindustan Petroleum Corporation Ltd) emerged as […]
Oil steady ahead of OPEC, pressured by China tariffs
Oil prices steadied on Monday ahead of an OPEC meeting that is widely expected to increase global crude supply and as investors assessed the impact of a trade dispute between the United States and China. U.S. light crude oil hit a two-month low of $63.59 a barrel before recovering to trade at $64.76, down 30 […]
The Vienna vow: Dharmendra Pradhan says he will ask OPEC for ‘responsible’ crude oil pricing
Oil minister Dharmendra Pradhan on Monday said that he will seek “responsible crude oil pricing” from Organization of the Petroleum Exporting Countries (OPEC) at a meeting being held in Vienna and ensure that oil prices remain within common man’s reach. “The OPEC countries are going to meet in Vienna. India is also going to be […]
Singapore-based Scoot airline refuses to fly with special needs child of Indian-origin
A Singapore-based airline has refused to fly an Indian-origin couple travelling with their special needs child citing safety reasons, sparking an uproar online. Divya George, the mother of the five-year-old girl, posted online that the captain of budget-airline Scoot caused the commotion after he refused to allow the child to fly with an infant seat […]
Oil steady as attention turns to potential supply hike
Oil prices steadied on Friday ahead of an OPEC meeting in Vienna next week as two of the world’s biggest producers, Saudi Arabia and Russia, indicated they were prepared to increase output. Benchmark Brent crude oil was down 20 cents at $75.74 a barrel by 0750 GMT, after falling 80 cents on Thursday. U.S. light […]
TPG Growth’s impact fund invests $70 mn in Fourth Partner Energy
Fourth Partner Energy announced a $70 million investment from The Rise Fund, a global impact investment fund managed by TPG Growth. Founded in 2010 by Vivek Subramanian, Saif Dhorajiwala, and Vikas Saluguti, Fourth Partner Energy is a distributed energy management company with in-house capabilities across design, engineering, construction, service, monitoring and financing. One of the […]
Trump’s nuclear deal row: SBI to stop handling Iran oil payments, says IOC
India’s imports of Iranian oil may be hit from end-August after the State Bank of India (SBI) informed refiners it will not handle payments for crude from Tehran from November onwards, the finance chief of Indian Oil Corp (IOC) said on Friday. The move by the state-controlled bank, India’s biggest, comes after US President Donald […]
Vedanta’s power sales dip by 14% to 11041 million on tepid demand
Commercial power sales by Vedanta fell by 14.5 per cent to 11041 million units in 2017-18 on tepid demand. In FY17, Vedanta had sold 12,916 million units. Power sales from Vedanta Group owned units at Jharsuguda (600 Mw), BALCO (600 Mw), MALCO (100 Mw) and Hindustan Zinc Ltd fell drastically. Only the Talwandi Sabo (1980 […]
Air India’s villas, apartments in Paris, London, Tokyo may be put for sale
The government has decided to further sweeten the deal for potential investors in Air India by making the national airline’s prime real estate across the world and in India part of the strategic sale. These properties, many of which are located in upmarket areas, are believed to be worth hundreds of millions of dollars at […]
Etihad Airways in red again, reports $1.52 billion loss for 2017
Etihad Airways reported a $1.52 billion loss for 2017 on Thursday, its second consecutive annual loss as the Middle East airline undertakes a major turnaround plan. The result compares with a prior year loss of $1.95 billion, which it restated from $1.87 billion. Etihad has been overhauling its strategy since 2016 with changes to top […]