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NEW DELHI: Even before the coal ministry started the competitive bidding for allocation of blocks, the trade unions have begun opposing it. The National Front of Indian Trade Unions (NFITU) on Wednesday threatened to go on a strike from July 10, demanding the cancellations of coal blocks allocated to...
NEW DELHI: The Defence Ministry (MoD) is pressing ahead with the Rs 1,800 crore purchase of seventy-five PC-7 Mark II basic trainer aircraft from Pilatus Aircraft Ltd of Switzerland. For the last one year, the purchase of desperately needed trainers for the Indian Air Force has been stalled by...
CHENNAI: The Rane Group is scouting for acquisitions in defence and aerospace. Rane is eyeing domestic companies in the “Rs 30-50 crore turnover size but with significant growth potential,” says Mr L. Ganesh, Chairman of the group. The company is particularly looking for companies operating in the areas of...
LONDON: British defence group BAE Systems said its chances of delivering profit growth in 2012 hinged on talks to finalise a fighter jet deal withSaudi Arabia, in a year marked by tight government defence budgets. “Whilst little sales growth can be expected for the group in 2012 in the...
India on Monday took a major step forward towards strengthening the security of it’s island territories by setting up a second naval base at Lakshadweep islands. The base, christened INS Dweeprakshak, was commissioned at Kavaratti in the Lakshadweep archipelago by Southern Naval Commander Vice Admiral K.N. Sushil. The base...
A day prior to the launch, V.K. Saraswat, Scientific Adviser to the Defence Minister, declared, “After tomorrow’s launch is successful, I can say that in terms of technology, all the scientists of the DRDO would have fulfilled the dream put into their eyes by Mr A.P.J. Abdul Kalam in...
NEW DELHI: After 20 years,India’s external intelligence agency Research and Analysis Wing (R&AW) is set to spread its wings — deep into enemy territory. The agency is to acquire two Bombardier jets packed with Israeli multi-mission airborne reconnaissance and surveillance systems that will multiply its capability alongPakistanandChinaborders. The Bombardier...
CHENNAI: The launch of the Radar Imaging Satellite (Risat-1) is a major step forward for India but it must increase its capacity and launch many more satellites to be considered a serious player in making military satellites, says an official of a US-based space consultancy firm. “Risat-1 represents another...
NEW DELHI: An Indian Navy cadet today set sail onboard a Chinese warship named after a 15th century eunuch admiral on a voyage to mark the anniversary of the Chinese People’s Liberation Army Navy (PLAN). Cadet David Veeravalli’s voyage typifies a military relationship withChinathat is marked by baby steps...
Chennai, May 2: The Rane group is scouting for acquisitions in Defence and aerospace. “In the next couple of years, we are looking to make one or two acquisitions especially in the areas of mechanical and electronic systems for Defence and aerospace,” says Mr L. Ganesh, Chairman. Rane is...
MUMBAI/NEW DELHI: Facing huge redemption pressure on funds raised via foreign currency convertible bonds (FCCBs), India Inc has requested the Reserve Bank of India (RBI) to allow companies to offer higher interest rates on fresh foreign currency loans or bonds, the proceeds of which will be used to pre-pay existing...
MUMBAI: The Reserve Bank of India has laid out a six-year road map to make Indian banks safer and avoid recurrence of the 2008 crisis, but it will need an estimated Rs 1.5 lakh crore in capital at a time it is scarce. The central bank has raised the...
MUMBAI: Foreign institutional investors (FIIs) battling uncertainty about tax liabilities are facing troubles on yet another front – the sliding Indian currency. The value of international investors’ holdings in the Indian market has eroded by $9 billion in the past month when the rupee slid 4% against the US...
NEW DE:HI: A power-packed delegation of the country’s top telecom chiefs, including the global heads of two leading mobile phone companies on Wednesday met finance minister Pranab Mukherjee, telecoms minister Kapil Sibal, home minister P Chidambaram, representatives from the Prime Minister’s Office and four other key policy makers to...
NEW DELHI: The power ministry will allow producers to raise tariffs if fuel costs of new projects rise, and will not oppose a hike in domestic gas prices. The move would hurt consumers but rescue large private investments that are threatened by uncertainty over fuel and tariffs. Linking tariffs...
NEW DELHI: The government is considering waiving penalties on past cross-border deals that will come under the scanner of tax authorities once a contentious proposal allowing it to tax transactions retrospectively is cleared by Parliament. The proposal will pare the tax dues of British mobile giant Vodafone Plc to...
By Kalyani Shankar Should the cricket legend Sachin Tendulkar reject his Rajya Sabha nomination? Was there any politics behind the super cricket star’s nomination? Should he have got Bharat Ratna instead? Will Sachin join politics? These are some of the questions, being debated after the “Little master” has been...
By Rashmi Saksena DAMASCUS: It is spring time inSyria. Juicy oranges heaped in ‘souks’ (markets) are being sold at Rs 5 a kg. The olive trees are weighed down by fruit and almonds are being served by the plateful in the coffee houses that dot every lane in Damascus....