11844 stories by IPA Staff
Govt Banks Can't Invest In Joint Ventures, Non-Core Operations Without Approval
MUMBAI: The finance ministry has barred government-controlled banks from investing in joint ventures and non-core activities on the ground that capital should only be deployed in ‘core’ activities. It has asked banks to take its prior approval before taking such non-core investment decisions and also asked government nominees on...
Blow For Telecom Companies As SC Refuses To Review Cancellation Of Licences
NEW DELHI: The Supreme Court has declined to reconsider its order cancelling 122 telecom licences, possibly setting the stage for further legal battles before international arbitration panels, even as it agreed to hold further hearings on the government’s review petition questioning parts of the judgement that had appeared to...
CRR, Rate Cut Must To Spur Growth, Bank Chiefs Tell RBI
MUMBAI: Chief executives of banks, who feel the deteriorating pulse of the economy, told Reserve Bank of India Governor Duvvuri Subbarao that interest rates and cash reserve requirement have to be lowered to revive investments and demand. A failure to cut cost of funds and ease liquidity pressure could...
BSE Sensex provisionally ends down 0.5 Per Cent
MUMBAI (Reuters) – The BSE Sensex fell for the first time in four sessions as traders were averse to keeping positions open ahead of a long weekend and as the services sector growth data showed a decline to five-month low. The country’s main 30-share BSE index provisionally closed down...
Left, democratic parties can provide alternative, says Karat
Kozhikode: Sensing an opportunity in national politics, the Communist Party of India (Marxist) on Wednesday saw the emergence of Left and democratic forces as an alternative to occupy the space being created by the failure of coalitions led by the Congress and the Bharatiya Janata Party. “The recent political developments...
India Turning High Cost Economy From Pricing Policies
By S. Sethuraman India has entered the new fiscal year, ushering in the 12th five-year plan in the most unpropitious circumstances, with challenges in both domestic and external economy to be overcome before moving on to the primrose path of sustainable growth at a less ambitious eight per cent...
Honour Killing Still Continuing
By Rashmi Saksena While the judiciary is slowly but surely showing zero tolerance towards perpetrators of killings in the name of honour, is the politician still soft on them? Yes and an unequivocal one at that. The disturbing answer once again highlights the unsavory truth, that for the political...
Govt To Induct Russian-Origin Akula II Class Nerpa Into The Navy
NEW DELHI:Indiais all set to join the elite club of nations possessing nuclear-powered submarines with the induction of the Russian-origin ‘Nerpa’ into the Navy on Wednesday. The development marks a crucial step forward in the country’s defence preparedness. Defence Minister A K Antony will formally commission the Akula II...
Defence Ministry Specifies Aim Of Offset Policy
NEW DELHI: After months of delay, the defence ministry (MoD) has cleared long-awaited revisions to the defence offsets policy. These include permitting the transfer of technology (ToT) as offsets; incentivising vendors to transfer specified technologies to the Defence R&D Organisation (DRDO) by allowing offset credits worth 300% of the...
Lockheed Bags R100-Crore Deal For IAF Bombs
NEW DELHI: US defence major Lockheed Martin has bagged a deal expected to be worth over R100 crore for supplying laser-guided bombs (LGBs) for the Jaguar fighter aircraft fleet in the Indian Air Force (IAF). The IAF plans to induct more than 100 bunker-buster LGBs for its Jaguar warplanes...
ISRO Bags Rs 100 Crore Deal To Launch French Satellite
The Indian Space Research Organisation has signed a deal with Antrix Corporation Limited which is believed to be valued at around Rs 100 crore, to launch an 800 kg satellite of ASTRIUM SAS, a Company under EADS,France. A commercial launch services agreement between Antrix Corporation Limited (ANTRIX) and ASTRIUM...
Tatra Divides Army Chief, Predecessor CBI To Summon BEML Head Soon
NEW DELHI/BANGALORE: The divide between Chief of Army Staff V K Singh and his predecessor, Deepak Kapoor, deepened as the latter on Tuesday said he had received no complaint from any level in the Army about the performance of the Tatra trucks. The now-controversial vehicles were made from CKD...
MoD Denies Report About Army Movement To Delhi
NEW DELHI: The defence ministry has denied reports that two key Army units moved towards Delhi this January without prior notification. According to Times Now, the Indian Army has also rejected the conclusions drawn in the report and has said that such exercises are routine procedure. “The points raised...
Cairn Energy To Acquire Agora Oil & Gas For $450 Million
NEW DELHI: Edinburgh-based Cairn Energy Plc today said it will acquire Norwegian oil firm Agora Oil & Gas for $ 450 million. This is Cairn’s first major deal after selling out majority stake in its Indian unit to London-listed mining group Vedanta Resources, and follows its strategy of reducing...
Independent Directors Question IOC, BPCL, HPCL On Selling Fuel At A Loss
NEW DELHI: Independent directors are increasingly asking the boards of state oil companies why they have not raised petrol prices for months to cut losses even though the Cabinet has granted them the freedom to price the fuel. Top executives at Indian Oil, Bharat Petroleum Corp and Hindustan Petroleum...
Oil India Eyes Chesapeake's Mississippi Asset: Source
NEW DELHI: Indian oil and gas producer Oil India Ltd is looking at buying a stake in Chesapeake Energy Corp.’s Mississippi Lime formation in Oklahoma, a source with knowledge of the matter said on Tuesday. “Oil India is examining this and will shortly send a team to the US,”...
RIL To Give Fresh KG-D6 Plan By October
MUMBAI: Three weeks after anticipating a drop in Reliance Industries’ Krishna Godavari (KG)-D6 block, Niko Resources, its 10 per cent partner in the block, said an integrated development plan for commercialisation of approximately three trillion cubic feet of additional discovered gas would be submitted to the Indian government by...
RIL Gas Output From KG-D6 Block Drops To 34 MMSCMD
NEW DELHI: Reliance Industries has reported a further drop in natural gas production at its eastern offshore KG-D6 block to about 34 million standard cubic meters per day. KG-D6 gas output in the week ended March 25 was 34.09 mmscmd as against 34.62 mmscmd in the begging of the...
