Tata Power’s consolidated operating profit for the quarter ended March 31, 2019, fell 1.5 per cent year-on-year (y-o-y) to Rs 1,348.68 crore while margins dropped marginally by 32 basis points as fuel cost and power purchase cost rose during the period. Consolidated net profit for the March quarter fell 92 per cent y-o-y to Rs […]
Category: The Indian Express
Indian Express
Stand up to US, continue to buy oil from Iran: Congress, CPM tell PM Modi
With US President Donald Trump ending exemptions from sanctions for India and other countries buying oil from Iran, the Congress and the CPI(M) have asked Prime Minister Narendra Modi to “stand up” to the American government. The Congress said the US decision was a “direct assault and attack on India’s political and economic sovereignty”, adding […]
US to India: Helping you on Masood Azhar, so end Iran oil imports
With the White House announcing the end of the waiver to buy Iranian oil, Washington has conveyed to Delhi that it has stood by India on combating terrorism after the Pulwama attack and expects reciprocity on President Donald Trump’s commitment to disrupt Iran’s terror network, The Indian Express has learnt. In its conversation with Delhi, […]
Google’s Wing Aviation gets FAA OK for drone deliveries
Google affiliate Wing Aviation has received federal approval allowing it to make commercial deliveries by drone. It’s the first time a company has gotten a federal air carrier certification for drone deliveries. The approval from the Federal Aviation Administration means that Wing can operate commercial drone flights in part of Virginia, which it plans to […]
No Maharatna status for HPCL without ONGC consent: DPE to Petroleum Ministry
Citing procedures and antecedents, the Department of Public Enterprises (DPE) has thrown a spanner at Petroleum Minister Dharmendra Pradhan’s push to grant more autonomy to refining and marketing company Hindustan Petroleum (HPCL). Through a letter dated February 12, the DPE has insisted that the Ministry of Petroleum & Natural Gas (MoPNG) should first obtain consent […]
GAIL emerges highest bidder for IL&FS wind power plants
GAIL (India) has emerged as the highest bidder for seven operating wind power plants of Infrastructure Leasing & Financial Services (IL&FS). The bidding process to these assets, having 12 sites spread across seven states, was launched in November last year. “Gail’s offer of approximately Rs 4,800 crore for 100 per cent enterprise value contemplates no […]
High oil prices an ‘Achilles heel’ for Indian economy: Report
The surging price of oil is an Achilles heel for the Indian economy, complicating its inflation, current account, fiscal balance and currency outlook, a market report by Singapore’s DBS banking group has said. “The sharp rally in oil weighed on all asset classes; USD-INR jumped to 69.87 high before closing slightly lower, while equity markets […]
Air India grounds 4 B-777s for lack of funds, looks to lease five of Jet’s
Debt-laden Air India has approached State Bank of India to lease five Boeing 777 wide-bodied planes owned by Jet Airways, but 19 of its own aircraft, including at least four 777s, have been grounded for months due to lack of funds for maintenance of these planes. Advertising An Air India official told The Indian Express […]
Govt okays filling up of OVL MD post on deputation
In a move to allow a bureaucrat to head the state-run ONGC Videsh Ltd (OVL), the government has permitted filling up of OVL managing director’s post on deputation so that the officer could go back to his service after a five-year stint. And to make the choosing process easier, the Appointments Committee of the Cabinet […]
Punjab budget: Cut in diesel price a cruel joke, say farmer union leaders
Agricultural experts and farmer union leaders on Monday dismissed the state government’s budget as “deceptive”, adding that reducing diesel price by Re one while cutting petrol price by Rs five was a cruel joke on the ‘farming community’. While welcoming the allocation of Rs 3000 crore for waiving of loans of ‘landless farm labourers’ and […]
IOC first Indian refiner to sign crude oil supply deal with US
To ensure a steady inflow of crude oil at a time imports from Iran are falling, state-run Indian Oil Corp (IOC) has become the first domestic company to sign a long-term supply contract with the US. The oil marketing company, in a statement released on Monday, said the annual deal is worth $1.5 billion and […]
AAI mechanism to monitor actual flight time to rationalise block timings
Early arrivals of flights at congested airports may be a wish come true for passengers but has been a headache for air traffic controllers, particularly because of airlines’ practice of declaring a longer block time for a flight and arriving earlier than that. To rationalise the block timings, the Airports Authority of India (AAI) — […]