India’s biggest lender to the power sector plans to sell bonds to individual investors as it tries to attract savers dissatisfied with deposit rates at a 16-year low. Power Finance Corp. has filed a draft prospectus for a 100-billion-rupee offering ($1.4 billion), and plans to raise the entire sum this quarter, according to Parminder Chopra, […]
Day: January 6, 2021
Oil hits 11-month high after Saudi Arabia pledges voluntary output cut
Oil prices rose on Wednesday to their highest since February 2020 after Saudi Arabia agreed to reduce output more than expected in a meeting with allied producers, while industry figures showed U.S. crude stockpiles were down last week. Brent crude rose as much as nearly 1% to $54.09 a barrel, the highest since Feb. 26, […]
Gas pipeline to benefit Karnataka’s coastal districts: CM
The 444-km Kochi-Mangaluru natural gas pipeline, which Prime Minister Narendra Modi commissioned on Tuesday, would benefit industrial, commercial entities and households in Karnataka’s coastal districts of Dakshina Kannada and Udupi, Chief Minister B.S. Yediyurappa said. “The pipeline will benefit hundreds of households, commercial establishments and industries in Dakshina Kannada and Udupi districts, as natural gas […]
Flights remain grounded in Kashmir, dozen cancelled over poor visibility
Air traffic to and fro Srinagar remained suspended for the fourth consecutive day on Wednesday as poor visibility due to heavy snowfall hampered operations, leading to cancellation of over dozen flights to the valley, officials said. They said while the snow clearance operations were in full swing, the runway was not available for flight operations […]
ED attaches assets worth Rs 452 cr in IL&FS cheating case
The Enforcement Directorate (ED) has attached assets valued at Rs 452 crore of Singapore-based shell company allegedly owned by UK national Jaimin Vyas in the IL&FS case. An ED statement said that properties were held in the name of AS Coal Pte under the Prevention of Money Laundering Act, including 8.86 per cent shares of […]
Coal India Ltd expects 120 milion tonnes e-auction sales
Having registered a 76 per cent spurt in its e-auction sales between April- December, state-run Coal India expects to achieve record spot sales of about 120 milion tonnes in the current year. “Auction sales have surpassed our previous estimates and we feel sure of allocating 120 MTs of coal by the end of the current […]
New COVID-19 strain: Centre allows limited resumption of flights to, from UK
NEW DELHI: Union Civil Aviation Minister Hardeep Singh Puri on Tuesday said that the government is reviewing the situation and it has allowed limited resumption of civil aviation with the United Kingdom. “We took a decision on limited resumption of civil aviation traffic between India and the United Kingdom based on an assessment of available […]
Dharmendra Pradhan flags off equipment for MEG plant from Hazira
BHUBANESWAR: Union Minister Dharmendra Pradhan on Monday flagged off indigenously manufactured critical components from Larsen and Toubro’s Hazira manufacturing facility to Indian Oil Corporation’s mono-ethylene glycol (MEG) plant coming up at Paradip refinery-cum-petrochemical complex.
Bad roads bane for Steel City residents
ROURKELA: AS Rourkela eyes a transformation ahead of the Men’s Hockey World Cup in 2023, there seems to be no end to the problems of commuters as several damaged roads in the city have been dug up for repairs. The Rourkela Smart City Limited (RSCL) has taken up repairs of several roads which have been […]
GAIL pipeline to Mangaluru will be enabler of growth for Kerala, says Pinarayi Vijayan
KOCHI: The 450-km GAIL pipeline project connecting Kochi and Mangaluru will be an enabler of growth for Kerala, said Chief Minister Pinarayi Vijayan, on Tuesday. Attending the inauguration of the project virtually, he said it will be beneficial for Fertilizers and Chemicals Travancore (FACT) Ltd and the proposed Petro Chemical park project coming up in […]
Indigo resumes Hubballi-Ahmedabad flight after nine months
HUBBALLI: Business communities in the Hubballi region are very delighted as Hubballi-Ahmedabad flight services were resumed on Monday after a gap of nine months. For years, twin cities Hubballi-Dharwad and north Karnataka region have had good ties with Gujarat and Rajasthan for textile, tiles and other businesses. People from both states are settled in Hubballi […]
PM Modi inaugurates Kochi-Mangaluru GAIL pipeline, says govt got integrated approach to energy planning
NEW DELHI: Prime Minister Narendra Modi on Tuesday set out his government’s energy roadmap, envisaging more than double the share of cleaner natural gas in the consumption basket, diversifying sources of energy, connecting the nation with one gas pipeline grid and bringing affordable fuel to people and industry. Inaugurating a 450-km natural gas pipeline between […]