Ahead of the proposed sale of the loss-making Air India, an anxious ministry of civil aviation has called for an impact analysis of the closure of Jet Airways. Ernst & Young (EY), the advisors to the sale, which flopped the first time, has been tasked with assessing the chances of a success in the light […]
Category: The Financial Express
The Financial Express
Petrol price hiked by Rs 2.45, diesel by Rs 2.36 following tax hike in Budget
Petrol price was Saturday hiked by a minimum Rs 2.40 per litre and diesel by Rs 2.36 after Finance Minister Nirmala Sitharaman raised taxes on the fuels to part-fund her Budget for 2019-20. Petrol price in Delhi was increased by Rs 2.45 per litre to Rs 72.96 while the increase in Mumbai was Rs 2.42 […]
UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan arrives in Delhi; energy, trade high on agenda
United Arab Emirates Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan arrived here Sunday night and will hold talks with his Indian counterpart S Jaishankar to boost cooperation in key sectors such as trade and energy. The UAE minister will also call on Prime Minister Narendra Modi and participate in a business roundtable Monday. The […]
Saudi carrier flyadeal ditches grounded Boeing MAX for Airbus
Saudi budget carrier flyadeal has withdrawn a provisional order for Boeing’s grounded 737 MAX jets, the US plane maker said Sunday, as the airline confirmed a new order for Airbus A320 aircraft. “We understand that flyadeal will not finalise its commitment to the 737 MAX at this time given the airline’s schedule requirements,” a Boeing […]
Highways construction off to brisk start in FY20
The first two months of the new fiscal have been good for highway construction in the country, with the pace going up by 9.6% to 28.5 km/day during the April-May period, as against 26 km/day in the year-ago period. A revival on the award front is yet to materialise, however, with the first two months […]
IL&FS road projects: 6 investors show interest in asset sale
At least six investors that include I Squared Capital, Canada’s CDPQ, NIIF, Brookfield, Edelweiss and Lone Star are understood to be conducting due diligence ahead of submitting their bids for 18 road assets of IL&FS, a source aware of the developments told FE. The bids are likely to start coming in by mid-July and should […]
Budget 2019: Aviation sector to get major boost as govt eyes maintenance hub status
Union Budget 2019 India: The aviation sector is set to get a major boost with the government proposing to make India a hub of maintenance repair and overhaul (MRO) activities and aircraft financing, besides relaxing foreign direct investment rules for overseas carriers. Policies would be changed to foster growth in MRO services, a long-standing demand […]
Budget 2019: Plenty to cheer for oil and gas industry
Budget 2019 India: As per ICRA’s estimates, there may be a shortfall of around Rs 31,000 crore in fuel subsidy for FY2019-20 versus the subsidy of Rs 33,500 crore provided for FY2019-20 (BE). This is largely on account of opening arrears of Rs 33,000 crore, which the govt had not paid the OMCs in 2018-19 […]
Budget 2019: Funds for infrastructure may be hard to find for govt – here’ why
With the private sector left with limited cash flows, the government struggling to mop up revenues and household savings slowing, local funds for India’s ambitious infrastructure build-out will be hard to come by. But it’s not just the lack of resources that is stymieing investments. The business environment today is so unfriendly — regressive taxation, […]
Budget 2019: Govt plans comprehensive restructuring of national highway programme
Union Budget 2019: All forms of physical connectivity like Pradhan Mantri Gram Sadak Yojana, industrial corridors, dedicated freight corridors, Bharatmala and Sagarmala projects, Jal Marg Vikas and Udan schemes will receive greater funding through 2019-20. The aim is to significantly improve logistics, reduce the cost of transportation and increase competitiveness of locally manufactured goods.
Budget 2019 targets national integration with one-nation-one-grid project , says Manoj Kohli, executive chairman, SB Energy
It is usual to have the government’s assertion of staying the course of achieving “one-nation-one-grid” in Budget 2019 reflects its determination of framing policies which targets the integration of the nation. “To take connectivity infrastructure to the next level, we will build on the successful model in ensuring power connectivity — one nation, one grid […]
Deregistration of Jet plane: NCLT asks DGCA to keep status quo
The bankruptcy tribunal Friday prevented the Directorate General of Civil Aviation (DGCA) from deregistering a Jet Airways Boeing 777 plane which is under the possession of a Dutch cargo services provider who seized it in April to recover dues. After the airline was taken to NCLT for bankruptcy last month, the Dutch company moved an […]