With land acquisition still being a pain area, the ambitious Bharatmala Project is expected to be completed in FY28 after a six-year delay only if the current pace of execution is maintained, as per a report. While the project has already overshot the completion target of FY22, the cost has already risen by a full […]
Category: Business Standard
Business Standard
Frequent mid-air ‘technical glitches’ add to Spicejet’s financial woes
SpiceJet Ltd. staged one of global aviation’s most remarkable turnarounds in 2015 after founder Ajay Singh swept in at the eleventh hour to rescue it. Less than a decade later, the Indian budget airline needs a revival of fortunes again. Once an investor darling, SpiceJet is now the worst-performing airline stock in Asia, fighting a […]
VietJet to launch 13 new Vietnam-India routes, add Airbus planes in 2022
HANOI (Reuters) – Vietnam’s budget airline VietJet Aviation will launch 13 new routes between the Southeast Asian country and India later this year, the company said on Monday, noting it also planned to add more Airbus A330 planes. The new routes to be launched from early September to early December will link Vietnam’s major cities […]
Anil Agarwal-led Vedanta to bring into operation two coal blocks in FY23
Billionaire Anil Agarwal-led Vedanta expects to bring into operation two coal blocks in Odisha in this fiscal and is working out a plan to fast-track the operationalisation of another coal mine in the eastern state. Vedanta is focusing on the long-term security of coal especially when thermal power plants and the non-regulated sector have witnessed […]
US dollar nudges down from multi-year highs as euro gasps for gas
SINGAPORE (Reuters) – The dollar began the week nudging down from multi-year highs, with a hotter-than-forecast inflation reading in New Zealand lending modest support to the kiwi, though fears about Europe’s gas supply put a cap on dollar selling. The greenback has soared this year thanks to a combination of rising U.S. interest rates and […]
Oil drops as China’s rising Covid cases renew fuel demand concerns
Oil prices fell $1 in early trading in Asia on Monday, cutting into gains from Friday, as attention turned back to rising COVID-19 cases in China and the prospect of lockdowns again reducing fuel demand in the world’s top oil importing nation. U.S. West Texas Intermediate (WTI) crude futures for August delivery dropped $1.54, or […]
IOC enters niche segment with Bikers Cafe to meet needs of expedition rides
As competition in fuel retailing grows, state-owned Indian Oil Corporation (IOC) has launched a unique Bikers Cafe to cater to the needs of biker expeditions to the Himalayas as it looks to retain its market leadership with differentiated offerings tailored for various consumer sets. Officials said the first such offering has been started near Shimla […]
Fuel demand in India declines in July so far adding to oil’s gloom: Report
India’s gasoline and diesel sales during the first half of July dropped from last month as seasonal rains curtailed demand in the world’s third-biggest energy consumer, that could help keep a lid on oil prices. The three biggest retailers sold 1.28 million tons of gasoline during July 1-15, down about 8% from the corresponding period […]
Economic crisis-hit Sri Lanka lowers fuel prices, first since Feb
Sri Lanka’s state-run Ceylon Petroleum Corporation (CPC) on Sunday reduced the diesel and petrol retail prices, the first decrease after five hikes since February as the severe foreign exchange shortage hampered the import of fuel and other essentials in the country reeling under worst economic crisis in decades. The new prices will be effective from […]
Sri Lanka introduces fuel pass for orderly distribution: Energy minister
Aiming to provide fuel to the public in an orderly manner amidst its worst energy crisis, the Sri Lankan government has introduced fuel passes that will guarantee a weekly quota to every vehicle owner. Sri Lanka is facing its worst economic crisis since independence in 1948. The country is unable to pay for its essential […]
Lanka introduces fuel pass amid protesters’ vow to ‘change system’
Aiming to provide fuel to the public in an orderly manner amidst its worst energy crisis, the Sri Lankan government has introduced fuel passes that will guarantee a weekly quota to every vehicle owner. Sri Lanka is facing its worst economic crisis since independence in 1948. The country is unable to pay for its essential […]
ATF rates slashed by 2.2% on account of fall in international oil prices
Jet fuel (ATF) prices on Saturday were reduced by 2.2 per cent, reflecting a fall in international oil prices. Aviation turbine fuel (ATF) prices were cut by Rs 3,084.94 per kilolitre, or 2.2 per cent, to Rs 138,147.93 per kl, a price notification of state-run fuel retailers showed. This is only the second reduction in […]