The UK’s Competition and Markets Authority (CMA) has launched an investigation into flag carrier, British Airways (BA) and the Irish airline Ryanair over whether they have broken consumer law by failing to offer refunds for customers who couldn’t legally take flights due to Covid-19 lockdowns. During the lockdowns, the two airlines refused to give refunds […]
Day: June 10, 2021
Reliance says FCCU unit at Jamnagar refinery shut, exports may be delayed
India’s private refiner Reliance Industry said on Wednesday a secondary unit at its export-focussed refinery in the western state of Gujarat has been shut since June 6, which may delay the shipment of some product cargoes. The refinery, which has the capacity to process 704,000 barrels of crude per day (bpd), is part of the […]
Reliance Power board to mull fundraising via equity issue on June 13
Reliance Power’s board will consider raising long-term funds through equity shares or equity-linked instruments in a board meeting on Sunday, a week after group company Reliance Infrastructure announced its fundraising plan. Reliance Power did not disclose the amount that it plans to raise. “A meeting of the board of directors of the company will be […]
Oil skids as start of US summer driving season fails to lift fuel demand
Oil prices fell on Thursday as inventory data in the United States, the world’s top oil consumer, showed a surge in gasoline stocks that indicates weaker-than-expected fuel demand at the start of summer, the country’s peak season for motoring. Brent crude oil futures were down 55 cents, or 0.8%, at $71.67 a barrel by 0341 […]
NHAI debars Consultant
NHAI to ensure fast-tracking of National Highways! To deal with the lapses in the construction of National Highways, the National Highways Authority of India (NHAI) is acting tough on the defaulters by taking strict action. Recently, the highway authority has debarred Lion Engineering Consultants in association with Synergy Engineering Group Private Limited from engagement in […]
Moody’s highlights negative credit impact of ESG risks on metals, mining and coal companies
Environmental Social and Governance (ESG) factors have an overall negative credit impact on metals and mining companies globally and a more pronounced negative credit impact on coal companies, according to Moody’s Investors Service. It said in a report on ESG credit impact scores for companies in the metals and mining and coal sectors that carbon […]
India’s wind power sector wants rival solar to help drive growth
India’s struggling wind power industry is looking to its clean energy rival for help emerging from a pandemic-induced slump. About half of the 20 gigawatts of wind power the nation is expected to add through 2025 will come in the form of hybrid projects that combine turbines with solar panels, according to a new report […]
Gautam Adani tweaks his airport playbook, sets in motion next big plan
Gautam Adani, India’s second richest person, has set in motion his next big plan. According to various media reports, preparations have begun for a Rs 25,500-29,200 crore IPO of Adani Airports Holdings as part of a plan to separate the group’s airport business from the holding company. The new development is being seen as the […]
GAIL split plan scrapped, company to monetise pipelines
A proposal to bifurcate state-owned gas utility GAIL (India) Ltd has been scrapped for now, and instead the company will monetise some of its pipelines by selling a minority stake through InvIT. GAIL Chairman and Managing Director Manoj Jain said the company has sent a plan for monetising two of its pipelines to the Ministry […]
Odisha Electricity Regulatory Commission invites public views on Capex plans of discoms
BHUBANESWAR: The Odisha Electricity Regulatory Commission (OERC) has invited suggestions and objections from consumers and other stakeholders on the business and capital expenditure plan of four distribution companies managed by Tata Power. The four power distribution companies – TPCODL, TPWODL, TPSODL and TPNODL – had filed applications for approval of their capital expenditure (Capex) plan […]
Power dearer by 3.8% in Karnataka, average hike of 30 paise/unit
BENGALURU: A household in Bengaluru, falling under Bescom limits, that consumed around 220 units of electricity and paid a monthly bill of Rs 1,794, will have to pay an additional Rs 39 (2.3 per cent increase) from next month. Reason: The Karnataka Electricity Regulatory Commission has revised the power tariff.In a virtual meeting with all […]
APERC directs Discoms to provide reasons for huge market purchase
VIJAYAWADA: While the state government has repeatedly claimed accrual of monetary savings of over Rs 1,000 crore by procuring cheaper power from spot markets, an analysis by the Andhra Pradesh Electricity Regulatory Commission (APERC) revealed that the state distribution companies (Discoms) went for market procurement without using available units in the state with lower variable […]