The NHAI on Thursday said it has transitioned to 100 per cent cashless tolling at national highways with the government making FASTags mandatory. “Following the guidelines for mandatory payment of user fee through FASTag at the toll plazas from the midnight of 15/16 February 2021, NHAI has successfully transitioned to 100 per cent cashless tolling […]
Day: February 19, 2021
Air France-KLM expects bailout in weeks as cash burn mounts in Covid
Air France-KLM is poised to get a fresh government bailout after burning through 2.1 billion euros ($2.5 billion) in the final quarter of last year as a resurgent Covid-19 pandemic delayed any recovery in air travel. Talks are ongoing between the carrier’s biggest shareholders, the French and Dutch governments, and the European Commission about a […]
Airbus axes dividend for second year, forecast disappoints after 2020 loss
European planemaker Airbus axed its dividend for a second year and forecast flat deliveries in 2021 as it braces for more coronavirus uncertainty in the wake of an annual loss. The company’s decision to restore key business targets is the latest evidence of a tentative return towards normal after the pandemic, which has severely hurt […]
Brent crude oil prices give up gains after rising above $65 on Texas freeze
NEW YORK (Reuters) – Oil prices steadied on Thursday, with Brent edging back from a 13-month high, after a sharp drop in U.S. crude inventories supported prices, while buying spurred by a cold snap in the largest U.S. energy-producing state petered out. Brent crude rose 3 cents to $64.37 a barrel by 11:40 a.m. EST […]
Retro tax: Amid stand-off, Cairn Energy holds ‘constructive’ meeting with Union finance secretary
Amid Cairn Energy’s reported move to recover a $1.4-billion arbitral award in its favour by attaching and seizing Indian assets overseas and New Delhi’s rumoured plans to contest the award, the Edinburgh-headquartered energy company’s chief executive Simon Thomson met Union finance secretary Ajay Bhushan Pandey here on Thursday. While the development kept alive hopes of […]
Policy and regulatory framework for Discoms in the offing: PM
Asserting that reforms in the regulatory and process framework have significantly “improved” the outlook towards the power sector, Prime Minister Narendra Modi on Thursday said the Centre is working to remove problems in the distribution sector and a policy and regulatory framework for DISCOMs is in the offing. Consumers should be able to choose their […]
L&T arm to build 2 units of Kudankulam Nuclear Power Project
The construction arm of L&T has secured an order in the range of Rs 1,000-2,500 crore to construct the Main Plant Civil Works of the Kudankulam 5 and 6 units. The Kudankulam Nuclear Power Plant is India’s first Light Water Reactor (LWR) of 6 units with a generation capacity of 1,000 MWe (megawatt electrical) each. […]
Cairn CEO meets finance secy over tax ruling, says meeting ‘constructive’
Nearly two months after it won an international arbitration tribunal ruling against the Indian government levying taxes retrospectively, Britain’s Cairn Energy Plc Chief Executive Simon Thomson on Thursday met top finance ministry officials in hope of quickly resolving the issue. “We had aconstructive dialogue and the dialogue is ongoing,” Thomson told reporters after meeting Finance […]
CERC norms: ‘Market coupling’ mechanism for spot power market gets a leg-up
The Central Electricity Regulatory Commission (CERC) has introduced the ‘market coupling’ mechanism for spot power trading, a move which could align spot prices within same geographical areas and time slots, and encourage exchanges to attract consumers via improved quality of supply, payment flexibility, etc. The move is seen to dent the market dominance of the […]
Engineers India, OIL to jointly bid for BPCL stake in Numaligarh Refinery
State-run Oil India (OIL) and Engineers India (EIL) will jointly bid for acquiring Bharat Petroleum Corporation’s (BPCL’s) 61.65 per cent stake in Numaligarh Refinery (NRL). An EIL statement said that OIL would be the leader in the consortium, while EIL would take a minority share. An OIL statement said: “The bid will be submitted through […]
Pawan Hans privatisation received multiple preliminary bids: Dipam secy
The government has received multiple preliminary bids for strategic sale of Pawan Hans, DIPAM Secretary Tuhin Kanta Pandey said on Thursday. Thursday was the last date for putting bids for Pawan Hans, in which government owns 51 per cent stake while Oil and Natural Gas Corp (ONGC) holds the remaining 49 per cent. ONGC has […]
Constructive dialogue: Cairn CEO after meeting finance secy, tax officials
Simon Thomson, CEO of Cairn Energy, sought swift enforcement of the over-$1.2 billion arbitration award, during his meeting with top finance ministry officials in New Delhi on Thursday. India is preparing to file an appeal against the award at The Hague. “We had a constructive dialogue and the dialogue is ongoing… I can’t comment more […]