Hong Kong’s Cathay Pacific Airways Ltd reported on Wednesday a record annual loss of HK$21.65 billion ($2.79 billion), due to a sharp downturn in travel associated with the coronavirus pandemic, restructuring costs and fleet writedowns. The 2020 loss compared with 2019 profit of HK$1.69 billion and was worse than an average forecast for a net […]
Day: March 10, 2021
Travelling to Ayodhya to be more convenient! AAI sanctions Rs 242 crore to develop airport in the holy city
Travelling to and from the holy city of Ayodhya to be more convenient! An amount of Rs 242 crore has been sanctioned by the Airports Authority of India (AAI) for the development of a state-of-the-art airport in Ayodhya, Uttar Pradesh, said Civil Aviation Minister Hardeep Singh Puri on Tuesday. The upcoming airport in Ayodhya will […]
Air travellers gaining confidence, time to plan for restart: IATA
The International Air Transport Association (IATA) has announced results from its latest poll of recent travellers, showing growing confidence in a return to air travel, frustration with current travel restrictions and acceptance of a travel app to manage health credentials for travel. While 88 per cent believe that when opening borders, the right balance must […]
BPCL stock falls about 5% on the back of treasury stake sale
Bharat Petroleum Corporation Limited’s (BPCL’s) stock, which had gained 43% since October and was trading near 52-week highs, was down almost 5% in the morning trades on Tuesday. The fall comes on the back of reports of the company’s move to sell treasury stake worth over ₹3,700 crore. A sub-committee of the board of directors […]
Better governance, better power delivery
Electricity distribution in India is in bad shape, with many places having poor voltage and frequent interruptions in supply. In general, delivery of energy is inefficient, and distributing power costs more than it ideally should. But a study finds this inefficiency is lower, and distribution companies (discoms) perform better, in states with stronger governance and […]
UP gets its 8th airport: Check flight routes, fare and other details
Flight operations at the much-awaited Bareilly airport have started. With this, Bareilly becomes the eighth airport to operate in Uttar Pradesh after Lucknow, Varanasi, Agra, Gorakhpur, Kanpur, Prayagraj and Hindon. Union Civil Aviation Minister Hardeep Singh Puri virtually flagged off the first flight from the newly upgraded Bareilly Airport to Delhi on 8 March 2021. […]
Israel launches new check-in Covid test for flyers: A quick swab, boarding pass
Israel’s El Al airlines launched a pilot programme at its Tel Aviv airport check-in counters on Monday to test unvaccinated passengers for Covid-19 before allowing them to board a non-stop flight to New York. Just before stepping up to the counters, 112 of the 280 passengers on flight 003 were required by El Al to […]
Gates-backed startup joins race to make green hydrogen cheaper
Israeli startup H2Pro joined the race to make cheap green hydrogen after securing investments from funds backed by Microsoft Corp. founder Bill Gates and Hong Kong billionaire Li Ka-shing. As governments and industries get serious about cutting greenhouse gas emissions, demand has grown for hydrogen produced by splitting water—using renewable electricity—as a potential carbon-free fuel […]
Oil holds losses as report points to expanding US stockpiles
Oil held losses near $64 a barrel in early Asian trading after an industry report pointed to a third weekly increase in U.S. crude stockpiles. Futures in New York have lost more than 3% over the past two sessions in a volatile start to the week that included a brief surge to an October 2018 […]
India asks refiners to diversify, cut reliance on Middle East oil after OPEC+ decision
NEW DELHI : India has asked state refiners to speed up the diversification of oil imports to gradually cut their dependence on the Middle East after OPEC+ decided last week to largely continue production cuts in April, two sources said. India, the world’s third biggest oil importer and consumer, imports about 84% of its overall […]
Saudi oil hawkishness speeds India plan to seek alternatives
Saudi Arabia’s push to restrain oil supply to buoy prices is spurring India to speed up plans to diversify its crude sources and pursue alternative energy, the chairman of one of the nation’s biggest refiners said. The world’s third-biggest oil importer was already trying to cut its dependence on Middle Eastern crude, with American oil […]
BPCL Trust sells BPCL shares worth ₹5,525 crore
Mumbai: BPCL Trust for investment in shares on Tuesday offloaded shares worth over ₹5525 crore in Bharat Petroleum Corporation Ltd (BPCL) through an open market transaction. According to a bulk deal on the National Stock Exchange (NSE), the BPCL Trust for Investment in Shares sold over 126.03 million shares of BPCL at a price of […]