Australia’s Port of Newcastle has signed a A$515 million ($398 million) loan with National Australia Bank (NAB) that links interest payments to non-mandatory social and environmental targets, the companies said. The world’s largest coal port will pay less if certain targets are met, including reducing its direct and indirect greenhouse gas emissions and screening all […]
Day: May 4, 2021
SC raps Jharkhand electricity board, says it has to be fair and reasonable
The Supreme Court has rapped the Jharkhand State Electricity Board for laying its own terms and conditions in the supply of electricity saying it has to be fair and reasonable towards consumers. A bench comprising Justices L Nageswara Rao and Vineet Saran made the observation while dismissing an appeal filed by the board against the […]
Saudi Aramco beats first-quarter profit forecast, keeps dividend
Saudi Arabian state oil producer Aramco on Tuesday beat analysts’ forecasts with a 30% rise in first-quarter net profit and maintained its dividend payout, helped by strong oil prices. Earnings by global energy companies such as Exxon Mobil have increased on the back of crude oil prices, which have risen by about a third this […]
Rs 7,735 cr PowerGrid InvIT IPO subscribed 4.83 times on last day
The initial public offer of PowerGrid Infrastructure Investment Trust was subscribed 4.83 times on the last day of subscription on Monday. The Rs 7,735-crore issue received bids for 2,05,40,48,700 units against 42,54,25,000 units on offer, as per the NSE data. The institutional investors’ category was subscribed 4.63 times and other investors 5.07 times. The IPO […]
Mangalore Refinery and Petrochemicals Ltd to set up five Oxygen plants
Mangalore Refinery and Petrochemicals Ltd (MRPL) will establish five oxygen generation plants across Karnataka, including Dakshina Kannada, to support the state’s fight against the second wave of the Covid pandemic. Under the guidance of MP Nalin Kumar Kateel and district administration, MRPL will be setting up a 930 litres per minute plant in the Wenlock […]
Fire engulfs coal handling plant of Chanda thermal power station
A massive fire engulfed the Coal Handling Plant (CHP) of Chandrapur Super Thermal Power Station (CSTPS) late on Sunday night. Efforts by the maintenance team and the firefighting department of the plant kept the damage to minimum and brought the blaze under control within 45 minutes. The fire had no impact on the power generation […]
Commuters suffer as MC fails to repair potholes
The commuters are a harried lot whenever the potholes are not being repaired timely in the city. As a number of mishaps have taken place on potholed roads, residents ask the civic body to strengthen the roads maintenance wing and ensure the safety of the commuters. After the winter season, the MC has resumed the […]
Mission mode: Establishments engaged in fight against COVID in Bihar get uninterrupted power
PATNA: In Bihar, all the COVID-19 dedicated hospitals,the isolation, quarantine centres, vaccination sites,the oxygen generation plants and the COVID care centres have started getting uninterrupted power supply round the clock. All the 38 districts are being covered by this move.
Opec’s share of Indian oil imports plunges to two-decade low: Report
NEW DELHI: Opec’s share of India’s oil imports fell to the lowest in at least two decades in the year to the end of March as overall purchases by Asia’s third largest economy fell to a six-year low, data obtained from industry and trade sources showed. Total crude imports by the world’s third-biggest oil importer […]
RIL pays bonuses to over 2 lakh employees for FY21
Mumbai: Reliance Industries (RIL), India’s biggest company in terms of market value, has rolled out bonus/variable payout to its over 2 lakh employees for fiscal 2021. The bonus payout was cited in a company note to employees on Monday. The move comes after RIL reported a 35% growth in profit to Rs 53,739 crore in […]
Covid: Lufthansa hastens fleet modernisation; 4-engine planes’ share to drop
NEW DELHI: Lufthansa on Monday approved buying 10 long-haul aircraft — five Airbus A350-900s and five Boeing 787-9. The mega German carrier says it is “accelerating fleet modernisation” plan to replace older types on short, medium and long-haul routes. Accordingly, 175 new aircraft will be delivered to Lufthansa Group airlines this decade. The pandemic has […]
US travel restriction: Air India to slash frequency of American nonstops
NEW DELHI: Air India will be slashing frequency of its highly popular US nonstop from later this week as America’s travel restriction order from Covid-ravaged India comes into force from Tuesday morning, significantly reducing the number of eligible flyers. AI has about 30 weekly flights as of now and has cut flights mainly from and […]