11844 stories by IPA Staff
China Ship Insurer Deals New Blow To Iran Oil Exports
SINGAPORE(Reuters) – A major Chinese ship insurer will halt indemnity cover for tankers carrying Iranian oil from July, dealing a blow that narrows the insurance options for Tehran’s main export already constricted by payment barriers caused by Western sanctions. With Western sanctions on Tehran increasing, sources at the China...
BHEL Eligible For Maharatna Status
NEW DELHI: State-run BHEL is eligible to seek the Maharatna status, which would provide the power equipment maker with more financial autonomy, according to the Department of Public Enterprises. “The company meets the eligibility criteria for grant of Maharatna status,” a Department of Public Enterprises (DPE) official said. A...
Strategic Asset NPCIL On Divestment Radar
NEW DELHI: Keen to shore up investor interest in its stake sale programme, the government for the first time is considering a proposal to disinvest equity in the state-owned Nuclear Power Corporation of India (NPCIL) as part of its disinvestment programme for 2012-13. Until now, the strategic area of...
Race For Chairman's Post At AEC, NPC Hots Up
MUMBAI: A race for the post of chairman of the Atomic Energy Commission (AEC) is on, as incumbent Srikumar Banerjee is scheduled to retire on April 30. Top contenders include Bhabha Atomic Energy Centre (BARC) Director Ratan Kumar Sinha, Department of Atomic Energy Director (strategic planning group) Ravi B...
Greater Push To Wind Energy
BANGALORE: As revised estimates point to a two-fold increase in India’s potential for wind energy generation with the use of taller towers for wind turbines, the Centre for Wind Energy Technology (C-WET) is setting up 75 monitoring stations across the country to validate the prediction and also assess the...
Centre Mulls Divestment In 6 Coal India Arms
KOLKATA: The Centre is considering a proposal to list six profit-making wholly-owned subsidiaries of Coal India Ltd. The move is part of a proposal to disinvest in 11 mini-Ratna central public sector undertakings — out of a total of 70 — in the first phase. The mining companies are...
Government To Kickstart Coal Block Auction By June: Sriprakash Jaiswal
NEW DELHI: Following furore over an initial CAG report that estimated huge losses to the exchequer in the allotment of mines, the government has said it is ready with the list of coal blocks to be bid and the auction process will kickstart by June. “The work of identification...
CIL To Continue With E-Auction
NEW DELHI: Coal India won’t discontinue the lucrative business of e-auctioning of the fuel in order to be able to comply with the presidential directive to sign fuel supply agreements (FSAs) with power companies to meet 80% of the latter’s needs. Despite a suggestion made by the power ministry...
Sahara Group in talks to buy 'The Plaza' hotel in New York for Rs 3,000 crore
NEW DELHI: Little over a year after he snapped up London’s iconic Grosvenor House hotel, Subroto Roy is about to do a similar deal across the Atlantic. The Sahara Group is in exclusive talks to acquire The Plaza, a 105-year-old landmark property in New York whose guests have included...
IIFCL To Launch $1-Billion Infra Fund Through MF Route
NEW DELHI: State lender India Infrastructure Finance Company (IIFCL) is set to announce a $1-billion infrastructure debt fund through mutual fund route on April 10. With the funding of R1,350 crore, IIFCL will own 26% stake in the fund while IDBI Bank will have 14% and Life Insurance Corporation...
Investment A Hurdle To Trade Pact With EU
NEW DELHI: The proposed India-European Union (EU) broad-based trade and investment agreement (BTIA) is expected to set new standards on issues related to investment, which has emerged as a bone of contention between both sides. While the EU has demanded the chapter on investment be negotiated before the trade...
Coal India May Take U-Turn On Imports In New Regime
Kolkata: Close to two months after Coal India Ltd (CIL) said it was not in the business of imports, the chairman designate of the world’s largest coal mining company is looking to revisit the option. S Narsing Rao, who takes charge as CMD in two weeks, will do what it...
DoT Moves Cabinet Note On 2G Presidential Reference
NEW DELHI: After getting the approval of Attorney General Goolam E Vahanvati for seeking a Presidential Reference on the Supreme Court’s February 2 orders cancelling 122 mobile permits issued in 2008, the telecom department has moved a Cabinet note on the issue and sought the inputs from all ministries....
Insurance Companies May Defer IPO Plans
MUMBAI: The government’s move to defer the easing of foreign direct investment (FDI) in insurance will hit IPO plans of large companies and, possibly, push consolidation. TOI had on Tuesday reported that the proposal to increase FDI cap in insurance to 49%, introduced in the 2004-05 Budget, had been...
Indian Defence Industry Depends On Imports
By Nantoo Banerjee Is the country’s national security in foreign hands? One would shudder to even imagine such a possibility. Yet, the unpalatable truth is: India’s defence forces are 70 per cent foreign dependent on armament supplies – from Russian nuclear subs, aircraft carriers, US and French fighters, Swedish...
Akhilesh Plans For Massive Investment
From Pradeep Kapoor LUCKNOW: Young and socialist chief minister Akhilesh Yadav is establishing a dialogue with different sections of society and working to create a climate for investment in Uttar Pradesh. In order to show the people that he was an ordinary person like others he scaled down his...
Congress’s Time For Introspection
By Kalyani Shankar Both the Congress President Sonia Gandhi and her son and the AICC General secretary Rahul Gandhi have zeroed in on the lack of organisation as the main reason for the failure of the party in recent Uttar Pradesh polls and Mrs. Gandhi had said there...
Rahul Gandhi Is Focussing Only On Uttar Pradesh Now
Rahul Gandhi will be the new AICC general secretary in charge of Uttar Pradesh replacing Digvijay Singh. Recovering from his defeat in UP Rahul has refused to take on more responsibilities in the party before he revives the Congress in Uttar Pradesh. In the wake of the UP results,...
