For May 2018, Gujarat was power deficit, a downgrade from its power self-sufficient status a year back. The slip in energy sufficiency may be attributable to certain developments but industry experts and industry officials say the state may be losing its sheen in energy and infrastructure sectors. Some early indicators, they suggest, are project delays, […]
Day: July 31, 2018
IndiGo is worst airline stock after profit drops 97% to $4 mn in 3 months
IndiGo, India’s biggest airline, fell to the lowest in 16 months as rising fuel prices and a weaker rupee led to its worst-ever quarterly profit in a fiercely-competitive market. The carrier, operated by InterGlobe Aviation, said profit dropped 97% to $4mn in the three months through June, its worst quarterly result since listing in 2015. […]
Centre seeks Parliament nod for Rs 9.8-bn capital injection in Air India
The government on Tuesday sought the Parliament’s approval to inject Rs 9.8 billion ($142.87 million) in ailing national carrier Air India during the current financial year, after efforts to find a buyer for its 76 per cent stake in the carrier failed. The government has “sought funds for infusion of equity in Air India under […]
Higher oil price boosts BP’s recovery, second-quarter profit up four-fold
Higher oil prices and increased output helped BP quadruple its second-quarter profit from a year earlier as the oil major finally shakes off the after-effects of 2010’s Deepwater Horizon spill and the last oil market slump. Second-quarter results have been a mixed bag for the world’s top oil companies. Total beat forecasts and boosted production […]
Malaysia’s civil aviation chief resigns following MH370 report
Malaysia’s civil aviation chief resigned on Tuesday, a day after a report into the disappearance of Malaysia Airlines flight MH370 showed lapses by Kuala Lumpur’s air traffic control centre. In a statement, Azharuddin Abdul Rahman said although the investigation report “does not suggest that the accident is caused by the Department of Civil Aviation then, […]
Oil prices drop on oversupply concerns as OPEC output increases in July
Oil prices fell on Tuesday, with Brent futures set for their biggest monthly loss in two years, as oversupply concerns rose after a Reuters survey showed OPEC output rose in July to its highest for 2018. September Brent crude futures fell 25 cents, or 0.3 percent, to $74.72 a barrel by 0654 GMT after rising […]