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NEW DELHI: State-owned Coal India Ltd (CIL) has so far entered into fuel supply pacts with five power firms for minimum assured supply of coal as per a government directive. “So far five firms have signed fuel supply agreements with CIL, including Lanco Anpara Power and Bajaj Hindustan,” a...
Ukraine is close to signing one of it’s biggest ever defense deals for air-to-air missiles with India. The deal for R-27 air-to-air missiles is worth hundreds of thousands of dollars, is in the final stages and is waiting for approval from the Ukrainian leadership. The Vympel R-27 (AA-10 Alamo)...
BANGALORE: In one of the largest defence offset contracts awarded to a mid-tier Indian firm Astra Microwave Products Ltd has bagged Rs 310 crore deal from one of its overseas customers. The Hyderabad-based microwave and radar component maker will supply critical radar sub-systems to the vendor which is participating...
NEW DELHI: Defence Minister AK Antony today directed his ministry officials to get a fresh report from the Indian Embassy in Rome following media reports in the Italian media alleging malpractices by an Italian company which is also supplying 12 helicopters for the VVIP Communication Squadrons of the Indian...
The PSLV-C19, the newest in the series of polar satellite launch vehicles of the Indian Space Research Organisation (ISRO), burst off the launch-pads of Sriharikota in the wee hours of Thursday on its space mission of placing indigenously developed Radar Imaging Satellite the RISAT-1 in a polar circular orbit....
The Indian Army has launched a massive summer exercise in the Rajasthan desert involving over 50,000 troops and several hundred artillery guns and infantry combat vehicles. The games will take place to strengthen the army’s efforts to shore up it’s battle worthiness on the western front with Pakistan. The...
Indian and Thai navies have undertaken a week-long joint exercise in the Andaman Sea to combat terrorism, piracy and arms smuggling. The joint Coordinated Maritime Patrols (CORPAT) was represented on the Indian side by INS Bangaram of the Andaman and Nicobar Command. The Royal Thai Navy was represented by...
About 450 people, right from the top missile scientist to the contract worker, sweated it out 24×7 for nearly a fortnight on the Wheeler Island, off the coast of Odisha. The dedication and team work culminated in the success of Agni V,India’s longest range ballistic missile, on April 19....
NEW DELHI: Even as the BJP decided to rake up afresh the Bofors gun issue after latest disclosures in the media today by the former Swedish investigator Sten Lindstrom that Rajiv Gandhi had protected the identity of Italian businessman Ottavio Quattrocchi, the Congress party interpreted this as a vindication...
NEW DELHI: Lt Gen Tejinder Singh (retd) today moved the Supreme Court seeking a CBI probe into the alleged role of outgoing Army Chief Gen VK Singh in the reported bugging of the Defence Minister’s office. The government has already denied that the minister’s office was bugged. The retired...
MUMBAI: Life Insurance Corporation of India (LIC), the largest institutional investor in the country, is not in a hurry to bring down its holdings in unlisted companies to align with the 10 per cent equity exposure cap mandated by the insurance regulator. According to highly placed sources in LIC, the...
NEW DELHI: The Cabinet is likely to take up a Bill tomorrow to increase voting rights of stakeholders in banks. The development comes less than a week after Finance Minister Pranab Mukherjee exuded confidence that key financial sector reforms Bills would be legislated this year. “The Cabinet may deliberate...
NEW DELHI: The government is examining investment treaties signed with other countries individually and as part of larger free trade agreements to identify prickly clauses that may lead to disputes in future. The move comes days after the British telecom operator Vodafone served a notice on the government, saying...
MUMBAI: The scramble to raise funds from the local bond market is set to intensify after Standard & Poor’s changed its outlook on India’s sovereign rating. The rating agency’s move is likely to make foreign borrowing expensive for India Inc. That, coupled with easing interest rates in the domestic...
NEW DELHI: Global ratings agency Standard & Poor’s on Wednesday cut India’s sovereign credit outlook to negative from stable and warned of a one-in-three chance of a rating downgrade in the next couple of years. S&P cited persistent external risks to the economy, high fiscal deficit, heavy debt and...
By Kalyani Shankar In the sixties and seventies the late Prime Minister Indira Gandhi used to defend herself from any attack by blaming the foreign hand. Similarly, ever since the UPA 2 came back in 2009, Prime Minister Manmohan Singh has blamed the “coalition compulsions” to brush off...
By Nora Chopra The Race to Rashtrapati Bhawan is likely to intensify in the coming weeks. The Vice President Hamid Ansari continues to be the front runner as an ailing Mulayam Singh Yadav also puts in his hat in the race for the country’s top post. Hectic lobbying has...
By Anjan Roy Global credit rating agency, Standard and Poor’s downward revision of India’s economic outlook cannot be said to be surprising. But at the same time this need not be taken too seriously. Interestingly enough, the S and P statement was almost a reiteration of the observations made...