India’s Hindustan Petroleum Corp (HPCL) cancelled the purchase of an Iranian oil cargo earlier this month after its insurance company refused to provide coverage for the crude because of U.S. sanctions, three sources with knowledge of the matter said. HPCL, India’s third-biggest state-owned refiner, renewed its installation insurance, which protects against any accidents at its […]
Month: July 2018
Private power producers allege CIL selling more coal through e-auctions
Private power producers have alleged that Coal India is selling increased quantities of coal through e-auctions and have sought to stop e-auction sales till the company’s supply obligations to the power sector to generate low cost power are met. Ashok Khurana, director general of Association of Power Producers alleged that generators with supply contracts are […]
India and Vietnam can boost cooperation in oil and gas sector: V K Singh
There is scope for India and Vietnam to deepen cooperation in the oil and gas sector despite “all the troubles” the Southeast Asian country faces, Minister of State for External Affairs V K Singh said today, in an oblique reference to Vietnam’s disputes with China. There was also great potential to enhance cooperation in the […]
Projects for 6,320 km roads awarded under Bharatmala
Projects for constructing 6,320 km of road have been awarded under the first phase of the Bharatmala project, with the financial implication estimated to be Rs 1.44 lakh crore, the government said today. Road Transport and Highways Minister Nitin Gadkari also informed the Lok Sabha during Question Hour that the total investment for Bharatmala is […]
Chhattisgarh area from where Naxals operate across India gets electricity
Electricity will finally reach the terrains tucked away obscure in Chhattisgarh’s Narayanpur district where the outlawed Naxal outfits had reportedly set up its central headquarters to operate across the country. Abujhmad, where even Mughal Emperor Akbar’s team failed to carry out the survey because of inaccessible terrains, is an alleged hub of Naxalite-Maoist insurgency, the […]
Orissa High Court stays safeguard duty on imported solar panels
The Orissa High Court has stayed the imposition of safeguard duty on imported solar panels until August 20 following a petition from leading solar developer Acme Solar Holdings opposing it. Last week, the Directorate General of Trade Restrictions (DGTR) recommended that safeguard duty on solar panels and modules imported from China and Malaysia should be […]
Bhel Q1 net up 93% to Rs 1.55 bn, chairman stresses prudent strategies
Power equipment maker BHEL on Wednesday posted about 93 per cent jump in standalone net profit to Rs 1.55 billion in the first quarter of the current financial year on higher revenues. Its net profit was Rs 808.2 million in the April-June quarter of last financial year, 2017-18, the company said in BSE filing. BHEL’s […]
Ryanair warns 300 staff of job cuts after spate of strikes hit bookings
Irish airline Ryanair has told over 300 pilots and cabin crew that they may lose their jobs as it cuts its Dublin-based fleet by 20 per cent for the winter season after recent strikes hurt bookings and airfares in its home market. The low-cost carrier, Europe’s largest by passenger numbers, is in the middle of […]
This Adani Group stock zooms 100% in 17 trading sessions
Adani Green Energy (AGEL), an Adani Group company, is locked in the upper circuit for the fourth straight day, rising 10% to Rs 51.20. The stock has rallied more than 100% in past 17 trading days on the BSE and is trading at its highest level since its debut on the bourses on June 18, […]
IndiGo grounds five A320 aircraft in Delhi
InterGlobe Aviation, operator of Indigo Airlines, said on Wednesday it grounded five Airbus A320 aircraft at New Delhi airport after issues with their engines manufactured by United Technologies’ Pratt & Whitney. The aircraft are expected to be back in service in the second half of August, InterGlobe Aviation said in a statement. India’s aviation regulator […]
Air travel may get costlier in 2019, fares in India seen rising above 7%
A strong global economy and rising oil prices are expected to push up the cost of air travel in 2019, with fares seen rising 2.6 per cent and hotel rates up 3.7 per cent, although there are downside risks from a trade war, according to an industry forecast. In some countries, including India, New Zealand, […]
AirAsia last minute deals: Book flight tickets for as low as Rs 1,399; check details
AirAsia last minute deals: In a bid to attract passengers this monsoon season, AirAsia India has come out with yet another sale, under which flight tickets can be booked for as low as Rs 1,399. Under the scheme named ‘Last Minute Deals’, the travel date must be before October 31, 2018. Further, the offer is […]