Hyderabad: The Expert Appraisal Committee under the Environment Ministry has given “green signal” to Indian Oil Corporation Ltd for setting up a grass root petroleum storage and distribution terminal in Telangana. According to the minutes of the meeting held recently, the proposal involves setting up petroleum storage and distribution terminal comprising 28 tanks with combined […]
Category: Deccan Chronicle
Deccan Chronicle
Jet Airways likely to get over Rs 3,000 cr funds
New Delhi: Loss-making Jet Airways is likely to receive fund infusion worth over Rs 3,000 crore post debt-rejig and investments by Etihad Airways as well as National Investment and Infrastructure Fund (NIIF) while founder Naresh Goyal might remain the promoter with less than half of the existing majority stake of 51 per cent, according to […]
Jet Airways posts consolidated net loss of Rs 732 crore in Q3
New Delhi: Financially-stressed Jet Airways on Thursday reported a standalone net loss of Rs 587.77 crore for the third quarter ended December 31, owing to higher fuel cost and rupee fall. The company had posted a standalone net profit of Rs 165.25 crore in the same quarter previous fiscal, Jet Airways said in a statement.
ONGC shares gain over 2 pc after Q3 results
New Delhi: Shares of Oil and Natural Gas Corporation (ONGC) rose by over 2 per cent on Friday after the company reported a 65 per cent jump in its third quarter net profit. The company’s shares gained 2.27 per cent to close at Rs 135.10 on BSE. It jumped 6.58 per cent to Rs 140.80.
Hindustan Aeronautics Limited to display its prowess at Aero Show 2019
Bengaluru: Besides providing huge logistic support, Hindustan Aeronautics Limited will showcase its prowess in defence and aerospace centred on the theme ‘Innovate, Integrate and Lead’ at the Aero Show 2019. “HAL is poised to tap into the opportunities during the forthcoming Aero India and will highlight its indigenously designed and developed fixed and rotary wing […]
Airbus to stop A380 superjumbo production
Paris: Europe’s Airbus is scrapping production of the A380 superjumbo, with lacklustre sales forcing it to abandon a dream of dominating the skies with a 21st century cruiseliner. The world’s largest airliner, with two decks of spacious cabins and room for 544 people in standard layout, was designed to challenge Boeing’s legendary 747 but failed […]
Lenders to turn largest shareholders in Jet Air
Mumbai: The board of Jet Airways on Thursday approved a plan by its lenders led by the State Bank of India (SBI) to resolve a Rs 8,500-crore funding gap, making the lenders the largest shareholders in the troubled airline. The resolution plan involves infusion of funds, monetisation of assets and restructuring of debt.
Thiruvananthapuram: Protests intensify on airport privatisation
THIRUVANANTHAPURAM: From February 20, unions claiming to represent some 10,000 employees of the AAI have threatened to go on an indefinite strike against leasing out the six airports, The airports seeking capital infusion are Ahmedabad, Jaipur, Lucknow, Guwahati, Trivandrum and Mangalore. Scores of people gathered in front of the Trivandrum International Airport on Wednesday with […]
Cabinet approves India, Saudi Arabia MoU to boost investment in infra
New Delhi: The government on Wednesday approved the signing of Memorandum of Understanding between India and Saudi Arabia on establishing a mechanism for investment in infrastructure. The MoU will be a step forward in engaging with the institutions of Saudi Arabia to attract a potential investment into the infrastructure sector, an official statement said. It […]
Par panel for setting up enquiry commission into IL&FS crisis
New Delhi: A Parliamentary panel on Wednesday suggested setting up a commission of enquiry into the IL&FS fiasco, including probing the role of the credit rating agencies (CRAs). Debt crisis in infrastructure lender IL&FS came to light following a series of defaults by its group companies beginning September 2018. IL&FS is sitting on a debt […]
Oil pushed up by deepening OPEC cuts, sanctions on Venezuela
Singapore: Oil prices rose on Wednesday as producer club OPEC said it had cut supply deeply in January and as U.S. sanctions hit Venezuela’s oil exports. U.S. West Texas Intermediate (WTI) crude oil futures were at USD 53.52 per barrel at 0752 GMT, up 42 cents, or 0.8 percent, from their last close. U.S. prices […]
Reliance Power asks Sebi to immediately ban Edelweiss Group from capital mkts
New Delhi: Anil Ambani-led Reliance Power has asked the Sebi to immediately ban Edelweiss Group from the capital market, alleging “illegal and market disruptive activities” to cause a steep plunge in the company’s share price. Reliance Group, last week, accused L&T Finance and Edelweiss Group entities of “illegal” and “motivated” actions in invoking the pledged […]