11844 stories by IPA Staff
India, China Not Spared From US Sanctions On Iran Oil
WASHINGTON: The United States exempted Japan and 10 EU nations from financial sanctions because they have significantly cut purchases of Iranian crude oil, but left Iran’s top customers China and India exposed to the possibility of such steps. The decision announced on Tuesday is a victory for the 11...
Tax Sops To Check Power Generation Cost
NEW DELHI: Concessions on duty and tax proposed for the power sector will not only help attract investment but will also keep a check on rising electricity generation costs. That should help the government’s mission to boost competitiveness in the manufacturing sector, though in a limited way. The finance...
NTPC To Invest 20% Less In FY13
NEW DELHI: At an investment size of Rs 20,995 crore, the country’s largest power producer, NTPC, would invest about 20 per cent less in 2012-13, compared to 2011-12, when it was estimated to spend around Rs 26,400 crore. The investment next year would be for adding new capacity of...
Reliance Power Draws Utilities' Fire As 4 States Slap Rs 400-Crore Fine On Krishnapatnam Project Delay
HYDERABAD: Four states have slapped a fine of Rs 400 crore on the Reliance Power entity setting up one of India’s largest power projects, worsening troubles for a prestigious venture which has been in a limbo for about nine months. Andhra Pradesh, Tamil Nadu, Karnataka and Maharashtra, which have...
Bajaj Energy Ceases To Be Subsidiary Of Bajaj Hindusthan
NEW DELHI:India’s largest sugar firm Bajaj Hindusthan today said Bajaj Energy, which is setting up five power plants in Uttar Pradesh with a total capacity of 450 MW, has ceased to be its subsidiary. Bajaj Hindusthan’s stake in Bajaj Energy — the special purpose vehicle for 450 MW coal...
IFC To Invest $20 Million In India's First Clean Energy Fund Nereus
CHENNAI: International Finance Corporation (IFC) will invest about $20 million in Nereus India Alternative Energy Fund, a $250-million fund that would focus on renewable and clean energy companies in India. It is the country’s first fund dedicated to renewable energy. IFC’s proposed investment comes with a cap of 20...
Australia's New Mining Law To Impact Acquisitions
MUMBAI/AHMEDABAD/NEWDELHI: The Australian government’s move to impose 30 per cent tax on coal mining and iron ore profits might not affect any Indian investment in that country immediately, but could have an impact on Indian companies, including state-run mining major Coal India Limited (CIL), which are scouting for assets...
Despite ONGC Blip, SEBI May Not Tweak Share Auction Route Norms
MUMBAI: The Securities and Exchange Board of India (Sebi) is not planning to make any changes to the recently-introduced offer for sale (OFS) or the auction route. There was a perception it may tweak norms after the bumpy share auction of Oil and Natural Gas Corporation (ONGC) earlier this...
National Pharma Pricing Policy May Be Dropped
NEW DELHI: The department of pharmaceuticals has decided to abandon its controversial “industry-friendly” proposal to cap retail prices of essential medicines at the average price of the three best-selling brands and stick with the cost of production as the parameter. “The thinking of the department, evolved after considering stakeholders’...
Tech Mahindra, Mahindra Satyam boards approve merger at swap ratio of 2:17
The boards of Satyam Computer Services Ltd and Tech Mahindra Ltd, IT services providers of the Mahindra group, approved the merger of two companies, according to TV reports. The exchange ratio for the merger was pegged at 2:17 ratio i.e. 2 shares of Tech Mahindra will be given for...
Irda to decide on letting LIC retain stake in banks
MUMBAI: The Insurance Regulatory and Development Authority (Irda) will soon decide on whether to allow Life Insurance Corporation of India (LIC) to retain its holding in public sector banks where it has breached the 10% limit. In the current quarter, LIC has invested over Rs 8,000 crore in state-run...
Why ethanol is yet to blend with petrol
New Delhi: Eleven years since the Government launched the ethanol-blended petrol (EBP) programme, pricing remains the biggest spoiler. The programme, according to which five per cent ethanol had to be blended with petrol, in order to reduce pollution and boost agriculture sector, has also suffered from bureaucratic hurdles. “EBP still...
PTC India to retain only 5% stake in IEX
New Delhi/Mumbai: PTC India Ltd, one of the promoters of the Indian Energy Exchange (IEX), plans to sell part of its stake in the bourse, retaining a minority 5%, in line with regulations. As part of the exit plan, Renuka Ramnath’s Multiples Alternate Asset Management (MAAM) will buy PTC’s 14.5%...
Teri proposes conditional migration to new tariff regime
Private firms running cargo facilities at Union government–controlled ports may have to wait until the end of this decade to migrate to an updated tariff regime, if the government accepts suggestions made last week by an expert body. This means these firms will have to contend with the apparent...
Shipowners decline to carry crude from Iran
Impending US sanctions against vessels engaged in carrying cargo to and from Iran are beginning to pinch India, threatening more than one-tenth of its crude oil imports. India is finding it difficult to charter ships to carry Iranian crude oil because of the US bid to bar any ship...
Rajya Sabha Complexion Will Change In April
By Harihar Swarup The biennial elections to the Rajya Sabha on March 30 for 58 seats will have significant impact on ensuring the stability of the UPA-2 Government till the holding of the next Lok Sabha elections in May 2014. Though the voting results in Rajya Sabha has no...
BIG CBS Networks inks distribution pact with Dish TV
NEW DELHI: BIG CBS Networks, a joint venture of Reliance Broadcast Network and CBS Studios International, today said it has signed a distribution pact with direct-to- home company Dish TV for English general entertainment channel BIG CBS Prime. The move would expand reach of BIG CBS Prime to an...
Offshoring to India will end in 8-10 years: Hackett report
NEW DELHI: Offshoring of jobs to India will begin to decline starting 2014, and will reach the end of its lifecycle in eight years, according to US-based strategic advisory and research firm The Hackett Group released at the Nasscom Global In-House Centers ( GIC) Conclave being held here. According...
