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NEW DELHI: After several run-ins with the United Progressive Alliance (UPA) government, the Trinamool Congress (TMC) looks set to open another front of confrontation with the Centre over the contentious coal royalty issue. The recent rise in royalty on coal from 13 per cent to 14 per cent announced...
KOLKATA: Coal India Ltd (CIL) may have to supply up to 360 million tonnes (mt) to power producers in 2012-13, around 50 mt, or 16%, more than in the year ended 31 March, chairman and managing director S. Narsing Rao said on Tuesday. The miner’s production target for the...
KOLKATA: For Mr Narsing Rao it was just another day, but with a difference. He left home in the wee hours on Tuesday to take up his new assignment as Chairman of Coal India Ltd. By the end of the day, Mr Rao was ready with his agenda to...
NEW DELHI: State-owned Coal India (CIL) today said it has fixed a production target of 468.74 million tonnes (MT) for the current fiscal. “CIL… Signed MoU with its administrative ministry – Ministry of Coal – for its key performance areas for the fiscal 2012-13… CIL’s targeted production and coal...
NEW DELHI: International Coal Ventures Ltd (ICVL), which is all set to buy a coking coal asset in the Australia’s Bowen Basin, is also eyeing a 10 per cent stake in a greenfield asset in the region, sources said. ICVL is a consortium of SAIL, Coal India, Rashtriya Ispat...
MUMBAI: Coking coal prices are set to rebound as early as July from four straight quarterly declines as China and India seek raw material overseas to fire new steel production in the world’s fastest-growing major economies. Contract prices that fell to $206 a tonne for the quarter ending June...
NEW DELHI: French defence, aerospace and technology giant Thales sees a huge opportunity in India’s public transport sector and plans to bid for upcoming metro and rail projects across the country, either independently or as a consortium. The company, which set up the ticketing system for Delhi metro, is...
The Obama administration is considering a major reform and simplification of approval processes that will enable more arms to be exported to fast rising powers like India & Brazil as part of a strategic move to help the US defence industry recover export revenues lost through domestic and foreign...
A clear lack of US condemnation of India’s latest missile test demonstrates that Washington not only appreciates but also supports India’s ability to meet the emerging strategic challenge posed by an aggressive China. The United States is more comfortable with the Indian progress in the nuclear and missile fields...
The Chief of Naval Operations of the United States, Admiral Jonathan Greenert, received a ceremonial Guard of Honour at the Ministry of Defence in New Delhi on Monday. Admiral Greenert was received by Chief of Naval Staff Admiral Nirmal Verma and other senior officers. Admiral Greenert is in Delhi...
BANGALORE: The Launch Authorisation Board of RISAT-1 —India’s first satellite with indigenously developed synthetic aperture radar having all weather and day-night imaging capability — has cleared the launch of the mission at 5.47 am (IST) on April 26. The 71-hour countdown commenced at 6.47 am on Tuesday. During the...
NEW DELHI: At a time when relations between India and Pakistan are perceived to be improving, Defence Minister AK Antony on Tuesday told top military commanders that the summer months would provide an “even more realistic assessment” of the situation. At the Unified Commanders’ Conference that saw participation of...
MUMBAI: Diageo, the world’s largest spirits company by value, has mandated investment banking firm JM Financial to negotiate a deal that could result in it owning a minority stake in Vijay Mallya-owned United Spirits. Negotiations are underway to structure a deal that would arm Mallya with enough cash to...
Mumbai: Axis Bank’s proposed acquisition of Enam Securities’ businesses has received the final approval from the Reserve Bank of India (RBI). The bank now aims to integrate these operations by the end of the third quarter of this financial year. Initially, Axis will use the Enam brand. A re-branding...
KOLKATA | DELHI: Power producers, including the country’s largest player NTPC, have refused to sign the new fuel supply agreement with Coal India, saying the proposed contract is biased and absolves the state-run company of all obligations. The companies have accused Coal India of frittering away the opportunity provided...
BANGALORE: Uncertain times await investors planning to start iron-ore mining in Karnataka, as the state government has made it clear that fresh leases will be given only after the Supreme Court clears all legal cases concerning the sector. The state’s controversy-ridden industry has come under the purview of the...
Mumbai: In an indication of stress on corporate balance sheets, the quantum of loans approved for recast by the corporate debt restructuring (CDR) cell rose nearly 35% to R1,50,225 crore by end of March, 2012, over the previous year. The actual amount of debt restructured during 2011-12 was R39,311...
KOLKATA: Coal India Ltd (CIL), the world’s largest coal producer, would finalise at least eight fuel supply agreements (FSAs) by Tuesday, said its new chairman and managing director, S Narsing Rao. However, sources said the country’s largest power producer, NTPC, was yet to sign new FSA with the city-based...