In a second lease of life to India’s oldest private carrier, the committee of creditors for Jet Airways has approved the resolution plan of a consortium of London based Kalrock Capital and UAE-businessman Murari Lal Jalan to revive the bankrupt airline. The resolution professional in charge of Jet, Grant Thornton’s Ashish Chhawchharia, confirmed the same […]
Day: October 17, 2020
ISGEC to set up 11.5 MW water to energy plant for Karnataka Power Corporation
ISGEC Heavy Engineering has won an order for setting up a 11.5 MW Waste to Energy (WTE) Plant for the Karnataka Power Corporation (KPCL) to be set up in Bidadi, an industrial hub located 32 km from Bengaluru. The plant will have a capacity to use 600 tonnes of segregated waste per day to produce […]
Highways gets big push: Modi govt relaxes BOT/HAM norms to attract more participation
In a move that will attract more participation in the construction of highways, the government has relaxed technical and financial qualifications for bidders of national highway projects under hybrid annuity mode (HAM) and builds, operate, transfer (BOT) mode. Under the modified rules, a bidder will be qualified to bid for a HAM project if it […]
Budget airline AirAsia X out of money, needs $120 mn for restart: Report
Long-haul, low-cost carrier AirAsia X Bhd has run out of money and needs to raise up to 500 million ringgit ($120.60 million) to restart the airline, deputy chairman Lim Kian Onn said in a newspaper interview published on Saturday. The Malaysian airline, the long-haul arm of AirAsia Group Bhd , said this month it wanted […]
Construction of highways gets big push! Modi govt relaxes BOT/HAM norms to attract more participation
In a move that will attract more participation in the construction of highways, the government has relaxed technical and financial qualifications for bidders of national highway projects under hybrid annuity mode (HAM) and builds, operate, transfer (BOT) mode. Under the modified rules, a bidder will be qualified to bid for a HAM project if it […]
Diesel sales see first annual increase since lockdown began; petrol, diesel demand near pre-Covid levels
The demand for diesel in India saw the first annual increase since the lockdown began in March 2020. Diesel sales rose to 2.65 million tonnes in the first fortnight of October from 2.43 million tonne a year ago, and 2.13 million tonne in the first half of September, PTI reported. Fuel sales were expected to […]
Performance-linked reward for non-exec employees to cost CIL Rs 1,700 crore
PSU miner Coal India (CIL) has declared a performance- linked reward (PLR) of Rs 68,500 per employee to all non-executive staff members for FY20 on the basis of their attendance during the period. The payment would be made before October 22, a CIL statement said. The estimated outgo of the company will be a little […]
Mumbai power outage due to cascade tripping of MSETCL lines, sub-stations: Tata Power
Tata Power on Friday said the power failure in Mumbai earlier this week was due to cascade tripping at sub-stations and transmission lines of MSETCL. The company also said the MSTECL transmission system failure led to cascading impact on all the downstream suppliers of electricity including Tata Power and BEST (Brihanmumbai Electric Supply and Transport). […]
CIL announces Rs 1,700 cr performance-linked reward to employees
State-owned Coal India on Friday said it has declared a performance-linked reward (PLR) of Rs 68,500 per employee to all its non-executive cadre workforce for 2019-20 which would have an estimated financial implication of a little over Rs 1,700 crore. This is linked to the attendance of the employees during the period, Coal India (CIL) […]
You will need OTP for home delivery of LPG cylinder from Nov 1: All you need to know
The system of home delivery of your Liquefied Petroleum Gas (LPG) cylinder is all set to change from next month. From November 1, you will need a one-time password (OTP) to get your gas cylinder delivered at your doorstep. According to reports, oil companies are implementing the new system, Delivery Authentication Code (DAC), to prevent […]
UK slaps $25 million fine on British Airways for 2018 data security failure
Britain’s information commissioner has fined British Airways 20 million pounds ($25 million) for failing to protect personal data for some 400,000 customers, the largest fine the agency has ever issued. The ICO said in a statement on Friday that the airline was processing personal data without adequate security measures. It also noted that it did […]
Singapore-Hong Kong air fares jump 40 per cent on travel bubble plan
The cost of air tickets between two major Asian financial hubs jumped within 24 hours of Singapore and Hong Kong unveiling plans for a travel bubble that wouldn’t require people to quarantine upon arrival. The cheapest price for a Singapore Airlines Ltd. return economy seat to Hong Kong was S$558 ($410) Friday morning up until […]