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INS Teg, the first of the three new Talwar class guided missile frigates, being built by Russia for the Indian Navy, has completed sea phase acceptance trials. According to Yantar Shipyard, all that remained was to finish the interior premises and present operational documents to the crew. The frigate’s...
BEIJING:China’s strategic experts and the official media are trying to provoke western countries saying the Agni-V missile has a longer range than India would admit, and it can hit cities in Europe. In comments that are obviously authorized by the defence ministry, Chinese experts said the Indian missile actually...
BANGALORE: ISRO plans to launch its biggest ever spacecraft, the 5,000-kg GSAT-11, by 2014. The advanced communication satellite, GSAT-11, will be double the capacity and size of the present buses, and will be built over the next two years. GSAT-11 will have 32 transponders in the Ka and Ku...
India has completed a significant amount of work on next year’s planned Mars mission for which scientific payloads have been short-listed, with formal government approval for the ambitious venture expected soon. Bangalore-headquartered ISRO is planning to undertake the mission to the planet Mars during November 2013. The project report...
NEW DELHI: Intense lobbying by US multinational software firms notwithstanding, the government is unwilling to roll back its proposal to categorise the sale of software as royalty, as the double taxation avoidance agreement between India and the US allows India to tax the sale of software as royalty. Finance...
Chief economic advisor Kaushik Basu would not have imagined that his comments about the reform process in the country to the Washington-based Carnegie Foundation would trigger a political slugfest. In an e-mail interview with ET, he clarifies there is no policy paralysis in India, only a slowdown. Basu makes...
NEW DELHI: The government will allow builders to raise overseas debt only for projects where 90% of the units are for low or middle-income groups, according to a senior official in the ministry of housing and poverty alleviation. The official said these projects will, however, be permitted to have...
NEW DELHI: Forced by a Presidential directive, state-controlled Coal India Ltd (CIL) today initiated the process of signing fuel supply agreements (FSAs) with power companies. It issued model FSA documents to its subsidiary companies, for signing with electricity generators. The move would break a three-year hiatus on coal supply...
NEW DELHI: The finance ministry may dilute some provisions of the proposed General Anti-Avoidance Rule (GAAR) to allay investors’ fears about excessive powers to the taxman under the regime. The rules may be worded in a manner that the onus to prove tax avoidance is also on the tax...
By Harihar Swarup The President’s post is the highest office of the land. At the time of constitutional crisis or other emergencies, the President’s role becomes very crucial. Therefore a person of high integrity and moral standards, who commands the respect of the nation, should be elected to the...
By Nitya Chakraborty NEW DELHI: The data released by the International Monetary Fund (IMF) stating that during 2011, India overtook Japan in total GDP on the basis of purchasing power parity (PPP), thereby emerging as the third largest economy in the world after USA and China should act as...
From Pradeep Kapoor LUCKNOW: BSP supremo Mayawati has taken lead in making preparations for 2014 Lok Sabha polls well in advance. Even in her defeat BSP remained number two position in more than 200 seats pushing national parties far behind. Mayawati sees role of king maker for herself in...
NEW DELHI: The government is thinking of a cushion for you to soften the blow of high oil prices. To prevent rising crude oil prices from hurting consumers and fuelling inflation, the government is working on a comprehensive “rescue package” that includes a significant reduction in central excise duties...
SINGAPORE: Bharat Petroleum Corp (BPCL) is seeking a diesel cargo for early May as domestic supply remains tight on the back of refinery maintenance, industry sources said on Thursday. The refinery is seeking 40,000 tonnes of 350 ppm sulphur diesel for delivery into Kochi over May 8-10. The tender...
NEW DELHI: Work at the sites of two of India’s strategic oil reserves in Karnataka has come to a halt as a water crisis has enveloped the region. The public sector Mangalore Refinery and Petrochemicals has shut down its 300,000 barrels per day plant. Managing director UK Basu said...
NEW DELHI: Cairn India has got the nod for increasing output by another 25,000 barrels a day of oil from its producing Mangala fields in the Rajasthan block. This development comes at a time as the company closes its fourth quarter numbers for the fiscal 2011-12 on Friday. High...
Reliance Industries,India’s biggest company by market capitalisation, will most likely report a second consecutive quarter of lower profits when it announces March 2012 quarter numbers on Friday. This will be the first time since 2009 that the petroleum major is suffering two consecutive quarters of year-on-year profit fall. It...
NEW ORLEANS: The estimated multibillion-dollar settlement between BP and lawyers representing individual and business plaintiffs in the 2010 Gulf of Mexico oil spill was fleshed out on Wednesday in hundreds of pages of motions and exhibits. The broad outlines of the agreement in principle reached last month, including an...