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NEW DELHI: Four years and three months after former telecom minister A Raja gave away pan-India GSM mobile spectrum at R1,658 crore, the Telecom Regulatory Authority of India (Trai) on Monday fixed the auction reserve prices for the same spectrum ten times higher. Trai has set a steep reserve...
NEW DELHI: The government plans to use disinvestment proceeds to set up its own version of a sovereign wealth fund (SWF) that will team up with state-run companies for acquiring overseas raw material and energy assets. A senior government official said about one-third of the proceeds from sale of...
NEW DELHI: The ruling United Progressive Alliance (UPA) is to overlook the reservations of some of its allies on economic reforms-related legislation and press ahead in Parliament if it gets an assurance that sections of the opposition will vote with it. So hinted Kapil Sibal, human resource development minister,...
From L.S. Herdenia BHOPAL: A nation-wide exercise has been launched to empower Muslim women and to protect them from matrimonial excesses, which they have to suffer in the name of Islam and the Quran. These excesses are committed by making a narrow and pro-male interpretation of the Quran. With...
By Praful Bidwai The message from the just-concluded congresses of India’s mainstream Left parties, the Communist Party of India-Marxist (CPM) and Communist Party of India (CPI), is that they are down, not out—despite their stunning election defeats since 2009. They are honest enough to admit they are in decline...
Indian shares provisionally ended down 1.82 percent on Monday, after a Reuters report said Macquarie’s Asia hedge fund has exited its short positions in Indian single stock futures in response to proposed tax rules that could lower returns. The benchmark 30-share BSE index provisionally closed 316.31 points lower at...
By S. Sethuraman Finance Ministers from over 180 nations re-committed themselves “to act collectively to restore confidence, rekindle growth and create jobs”, at the bi-annual Fund-Bank meetings in Washington (April 20-21) against the backdrop of fragile global recovery, financial stresses in euro-zone posing risks of cross-border spill-overs, high oil...
MUMBAI: If the substantially differing estimates of gas reserves from the joint venture partners in the Krishna-Godavari (K-G) basin off the east coast have been puzzling oil industry watchers, there is now some official confirmation. Reliance Industries Ltd (RIL), operator of the country’s premier deep water gas acreage, has...
NEW DELHI: With the India-Iran gas pipeline and Turkmenistan-Afghanistan-Pakistan-India gas pipeline scuppered by security concerns, the commerce ministry has fished out a decade-old proposal to link South Asia with Europe by sea, rail and roads. Designed as a trade route spanning Central Asia, the Caucasus and Russia, the unique...
NEW DELHI: Oil and Natural Gas Corporation (ONGC) is set to regain its tag of the country’s most profitable company, which it had lost to Reliance Industries Ltd (RIL) during financial year 2010-11. RIL on Friday declared a net profit of Rs 20,040 crore for the 2011-12, a marginal...
NEW DELHI: The oil ministry will grant ONGC another six months to drill the required number of wells and draw plans for producing coal bed methane (CBM) from the Raniganj-north block in West Bengal, which was given to the state-run firm nine years ago. This will be the third...
MUMBAI: Reliance Industries’ (RIL) fourth quarter results have thrown up numbers that would worry investors. The country’s largest private sector company’s return on capital employed (RoCE) – showing how much a company earns after deploying its capital – has been falling in the past four quarters. It declined from...
MUMBAI: Reliance Industries’ $3.5 billion investment in shale gas businesses in the US has begun to bear fruit. The company in its quarterly presentation to analysts said shale gas was profitable despite low gas prices. The shale gas revenue in fourth quarter stood at $250 million, while profit after...
Cairn India’s Rajasthan block was now estimated to hold a record 7.3 billion barrels of oil reserves that could produce 15 million tonnes of oil, the highest by any field in India, the company said. The crown-jewel Rajasthan block is now estimated to hold discovered and yet to be...
MUMBAI/AHMEDABAD: Rolling out the first 2.5 Mw project under Gandhinagar Photovoltaic Rooftop Programme, Azure Power has forayed into rooftop solar power generation. A first of its kind in India, the project entails energy from aggregated rooftop portfolio being sold to one off-taker. According to Inderpreet Wadhwa, CEO, Azure Power,...
NEW DELHI: The global venture capital funding in the wind energy sector has got off to a strong start with deals worth $ 240 million for 12 deals in the first quarter of this calender year. According to Mercom Capital Group, a global clean energy communications and consulting firm,...
NEW DELHI: The government is weighing a new coal pricing dispensation to help Coal India (CIL) recover the extra cost of imported coal it might have to give power plants to comply with the fuel supply agreement (FSA). The agreement means Coal India must guarantee supply of at least...
BHUBANESWAR: Chennai-based Neyveli Lignite Corporation Ltd (NLC), a navratna public sector unit, has evinced interest in setting up a 2,000-Mw coal-fired power unit in Odisha through a joint venture (JV) with a state government owned PSU. The proposal envisages an investment of around Rs 10,000 crore. NLC would prefer...