Tech billionaire Elon Musk’s Boring Company has raised $675 million in the Series C round, bringing its valuation up to $5.7 billion. Boring Company is Musk’s project to build underground highways to alleviate traffic congestion. The round was led by Vy Capital and Sequoia Capital, with participation from Valor Equity Partners, Founders Fund, 8VC, Craft […]
Category: Business Standard
Business Standard
Pakistan passes orders to scrap China-Pak Economic Corridor Authority
Pakistan’s new government has initiated a process to abolish the China-Pakistan Economic Corridor Authority, with the planning minister saying it was a “redundant organisation” that wasted resources and thwarted speedy implementation of the ambitious regional connectivity programme. Planning Minister Ahsan Iqbal passed orders to the concerned officials to begin the process of abolition of the […]
Jindal Steel & Power Ltd Slides 3%, S&P BSE Metal index Shed 1.09%
Jindal Steel & Power Ltd has added 9.56% over last one month compared to 1.39% gain in S&P BSE Metal index and 0.98% drop in the SENSEX Jindal Steel & Power Ltd fell 3% today to trade at Rs 540. The S&P BSE Metal index is down 1.09% to quote at 22556.38. The index is […]
Oil prices settle mixed amidst Russia supply, demand concerns
(Reuters) – Oil settled nearly unchanged on Wednesday as broader concerns about economic growth and oil demand stagnation weighed against tightening supplies. Brent crude futures fell 45 cents, or 0.4 %, to settle at $106.80 a barrel.
Oil climbs higher but takes a breather in tight range; Brent rises 55 cents
(Reuters) – Oil prices traded higher but in a narrow range on Thursday, after being rocked earlier in the week by supply losses from Libya and a worrying outlook for demand as the International Monetary Fund cut its global growth forecasts. Brent crude futures rose 55 cents, or 0.5%, to $107.35 a barrel at 0117 […]
Goa govt lifts power load restriction on industries, gets additional supply
The Goa government on Wednesday lifted the power load restriction on the industries in the state after it started purchasing additional electricity, a senior official said. “The state government has started purchasing additional power and hence lifted the power load restriction on industries,” the official from electricity department said.
What can India do to address its perennial power shortage?
This year’s March was hottest in over a century, leading to earlier-than-usual surge in electricity demand. The big mismatch in demand and supply forced several states to resort to power cuts. India gets 75% of its electricity from coal. And the average coal stocks at domestic power plants have fallen to nine days as of […]
India’s March domestic air passenger traffic increases over 36% YoY
Lower base effect as well as easing Covid travel restrictions accelerated India’s domestic air passenger traffic growth by over 36 per cent in March on a year-on-year basis. Pent-up demand and accelerated economic recovery also pushed the air passenger numbers higher during the month under review.
Oil prices rebound after sharp losses as supply concerns dominate
(Reuters) – Oil prices rebounded on Wednesday from sharp losses in the previous session as concerns about tighter supplies from Russia and Libya dominated, while industry data showed a drop in U.S. crude inventories last week. Brent crude futures rose 66 cents, or 0.6%, to $107.91 a barrel by 0623 GMT while the front-month WTI […]
World needs extra $1.3 trillion energy investment by 2030: JP Morgan
The world needs to find $1.3 trillion of incremental investment by 2030 to boost all types of energy output and infrastructure from renewables to oil and gas to avoid an energy crunch, U.S. bank JP Morgan said in its first annual energy outlook. “Our main finding is that by 2030, energy demand growth will exceed […]
Power crisis will crush small industries, says Congress on coal shortage
A day after Union Home Minister Amit Shah held a meeting of the concerned department on power situation, the Congress on Wednesday attacked the Centre and alleged that only eight days of coal was left in the country. “8 years of big talk has resulted in India having ONLY 8 DAYS of coal stocks.
MRPL surges 13% on heavy volumes; stock zooms 58% in April
Shares of Mangalore Refinery & Petrochemicals (MRPL) hit over three-year high of Rs 65.45, after it rallied 13 per cent on the BSE in Wednesday’s trade, on the back of heavy volumes. The stock of state-owned refineries & marketing company surged 24 per cent in the past two trading days. Earlier, the stock quoted its […]