11844 stories by IPA Staff
Cairn India Made Oil Discovery In Krishna-Godavari Basin Block
NEW DELHI: KG basin Cairn India, a Vedanta group company, has announced an oil discovery in its onshore block in the Krishna-Godavari basin where it had made a gas discovery about a year ago said. The company has informed about the discovery to the block’s management committee (MC) and...
RIL And Siemens May Snap Security-Solutions Venture
MUMBAI: The grand partnership for homeland security between Reliance Industries and global engineering and electronics giant Siemens may be coming apart in just six months, even before it could formally take off. Serious differences are believed to have cropped up over strategic and operational issues from technology transfer and...
Reliance, HUL To Market Beauty & Health Together
NEW DELHI: The country’s two top companies, oil-to-retail giant Reliance Industries Ltd (RIL) and FMCG major Hindustan Unilever Ltd, have got into a tie-up to collaborate in setting up a chain of beauty and wellness formats across the country. Their stated aim is to bring these products to the...
Brent Slips Toward $124 On Federal Reserve Comments, Saudi Arabia Supply
SINGAPORE: Brent crude extended losses toward $124 a barrel on Wednesday after the US central bank dashed hopes of further economic stimulus, while news that Saudi Arabia is likely to keep output high in the event of a strategic stocks release also weighed. Industry data showing a larger-than-expected rise...
BHEL Open To Collaborations With Chinese Companies
NEW DELHI: Bharat Heavy Electricals, which is facing stiff competition from Chinese equipment makers, today said it is open for collaboration with companies from the neighbouring country. In response to a query on whether the company would be open for collaboration with Chinese entities, BHEL Chairman and Managing Director...
BHEL Disinvestment Put On Hold
NEW DELHI: The government has decided to put its plan to divest its stake in power equipment maker Bharat Heavy Electricals (BHEL) on hold. The company has withdrawn the draft red herring prospectus (DHRP) for a follow-on public offering (FPO) filed with the Securities and Exchange Board of India...
Radioactive Material From Fukushima Nuclear Reactor Tracked 600 KM Away
WASHINGTON: Scientists have found radioactive material from the crippled Fukushima nuclear reactor in tiny sea creatures and ocean water some 600 km off the coast of Japan, revealing the extent of the release and the direction pollutants might take in a future environmental disaster. Using 24 specially equipped drifting...
Suzlon Energy CFO’s Exit Stokes Fears Of Defaults Of $569 Million
MUMBAI: Fears that the loss-making Suzlon Energy may default on repayment of foreign currency convertible bonds worth $569 million have been aggravated after the resignation of Robin Banerjee, who was an integral part of the company’s fund mobilisation initiatives as the chief financial officer. Analysts are linking the CFOs...
Govt Issues Presidential Decree To Force Coal India For Long-Term Fuel Supply To Private Power Firms
NEW DELHI/KOLKATA: The government issued a presidential decree to force Coal India to guarantee long-term fuel supply to private power firms, as it used its discretionary authority to trump independent directors who resisted pressure from the Prime Minister’s Office and said such pacts would harm the company. The rare...
Govt Plans To Offer Deallocated Captive Coal Blocks Of Private Companies To Coal India
New Delhi: The government proposes to offer deallocated captive coal blocks of private sector companies to Coal India in a bid to accelerate coal production. This would enable the PSU to meet all its fuel commitments to the power sector. The coal ministry, which has so far cancelled allocation...
CIL Gets Presidential Order To Supply What Govt Wants
NEW DELHI: In an unprecedented move, the government on Tuesday issued a presidential directive forcing state-owned miner Coal India Ltd (CIL) to supply at least 80 per cent of the quantity committed to power companies. However, the directive gave the company freedom to relax the penalty that would be...
CIL Misses Revised Output Target For 2011-12 At 436 Million Tonnes For 2011-12
NEW DELHI: Country’s biggest coal producer CIL has missed its revised production target as it achieved only 435.84 million tonnes (MT) for 2011-12 against 447 MT, adding to the worries of power producers who are already facing supply crunch. The public sector unit said there were a number of...
Bajaj Auto raises stake in KTM Power Sports to 47 Per Cent
MUMBAI: Bajaj Auto, India’s second-largest two-wheeler maker, has tightened its hold on KTM Power Sports by buying another 6.3%, taking it stake in the Austrian motorcycle to a little over 47%. ET learnt that the company purchased this stake from one of the key stake holders through an open...
Investors With Interest In Mauritius Won't Attract Capital Gains Tax
NEW DELHI: Foreign institutional investors based in Mauritius will not be required to pay capital gains inIndiaif they have ‘substantial commercial interest’ in the island nation, a finance ministry official has clarified. The official said the proposed General Anti Avoidance Rules, or GAAR, are very clear and there is...
Finance Ministry To Make EPFO Invest In Infrastructure Sector
NEW DELHI: The infrastructure sector could soon have a steady supply of long-term funds if the finance ministry is successful in its bid to get a part of the retirement savings of workers invested in dedicated sector funds. The finance ministry has written to the Employees’ Provident Fund Organisation,...
Govt Issues Presidential Decree To Force Coal India For Long-Term Fuel Supply To Private Power Firms
NEW DELHI/KOLKATA: The government issued a presidential decree to force Coal India to guarantee long-term fuel supply to private power firms, as it used its discretionary authority to trump independent directors who resisted pressure from the Prime Minister’s Office and said such pacts would harm the company. The rare...
Sovereign Bonds Set To Be Floated
NEW DELHI: In a move towards greater capital account convertibility, the finance ministry has signalled its intent to sell sovereign bonds to foreign investors. For the first time ever, finance minister Pranab Mukherjee has outlined the option of selling sovereign bonds overseas in the Budget 2012-13 papers. Saleof government...
NCTC: PM bends, agrees to hold CMs' meeting
New Delhi: The Prime Minister has agreed to the demand of the chief ministers of several states for a separate meeting on National Counter Terrorism Centre (NCTC). There will be no decision on NCTC before the meeting of the chief ministers on May 5. This came after pressure, not...
