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NEW DELHI: Power consumers, brace for a hot summer. Notwithstanding Tuesday’s Presidential directive to Coal India to ensure coal supply to power producers, short-term relief is unlikely for domestic and industrial consumers of power, reeling under shortages that are expected to spiral as temperatures soar. “The directive to CIL...
Pune: Loss-making Wind turbine maker Suzlon Energy is considering a stake sale in its wholly-owned subsidiary REpower Systems SE, reports say. Repower is based in Hamburg, Germany, and manufactures onshore and offshore wind turbines with installation of around 3,600 wind turbines around the world. Suzlon had acquired Repower at...
Pune: Loss-making Wind turbine maker Suzlon Energy is considering a stake sale in its wholly-owned subsidiary REpower Systems SE, reports say. Repower is based in Hamburg, Germany, and manufactures onshore and offshore wind turbines with installation of around 3,600 wind turbines around the world. Suzlon had acquired Repower at...
New Delhi: With the finance ministry likely to roll back the proposed excise duty on unbranded jewellery, jewellers ended their 21-day strike on Friday. Though there was no official word, industry representatives were upbeat after a late afternoon meeting with finance minister Pranab Mukherjee. Central Board of Excise and...
MUMBAI: The Reserve Bank of India, or RBI, has approved Axis Bank’s purchase of Enam Securities, ending a 17-month wait and paving the way for the private bank to expand its business to include investment banking and other advisory services. “The Reserve Bank of India has cleared the deal...
MUMBAI: Distressed borrowers are taking a toll on the credit profiles of Indian banks with almost half a dozen lenders being downgraded by rating agencies in recent weeks. Given that most public sector banks have similar credit profiles, analysts tracking the banking sector are asking, “Who’s next?” In the...
MUMBAI: It’s rare to find three industry associations, each holding divergent views, to come together on a controversial issue. But for the first time probably in years, three pharma associations – Indian Pharmaceutical Alliance (IPA), Indian Drug Manufacturers’ Association (IDMA) and Organisation of Pharmaceutical Producers of India (OPPI) have...
NEW DELHI: Foreign institutional investors (FIIs) using the Mauritius route may have earned some leeway to block tax demand from Indian revenue authorities. The Mumbai Income Tax Appellate Tribunal has held that these FIIs can get a tax offset on their profit against other losses now, even if they...
NEW DELHI: As acquiring land for manufacturing industries becomes an issue of discord between various stakeholders, a Planning Commission committee has suggested setting up an independent regulator to lay down guidelines for such acquisitions. To determine the value of land for industrial purposes, which is mostly the primary cause...
NEW DELHI: Two major airwaves auctions in the next 12 months – the sale of freed-up spectrum following the Supreme Court’s cancellation of 122 mobile phone licences and fresh bids for 4G permits – are set to trigger a new round of corporate hostilities in the controversy-ridden telecom sector...
By Harihar Swarup Weeks ago West Bengal Chief Minister, Mamata Banerjee, came to the Central Hall of Parliament and spent a couple of hours with journalists. She has known most of the correspondents, having access to the Central Hall, personally, and called them by first name. She replied to...
From P. Sreekumaran THIRUVANANTHAPURAM: The first step towards self-improvement is a candid admission of one’s mistakes. If the deliberations at the ongoing 20th party congress of the CPI-M at Kozhikode in Kerala are any indication, the party seems to have realized this basic rule. In fact, it is ‘confession...
Union Defence Minister A. K. Antony on Wednesday said that India was considering a proposal to lease a second Russian-built nuclear powered attack submarine. “There is a proposal, but we haven’t taken a decision yet,”Antony told the media at the induction of India’s first nuclear-powered attack submarine (SSN), the...
NEW DELHI: Recognizing that it is emerging as one of the largest importers of arms, nuclear equipment, and oil and gas, the government is considering an overarching policy that would leverage this clout to buy technology and long-term energy resources from countries that win supply orders from India. To...
KATHMANDU: Army Chief Gen V K Singh today offered all possible help to Nepal in its army integration process and for disaster management, saying India will do whatever it can to take forward the bilateral ties. “‘Nepal ko hit ma India ko hit chha’ (whatever is in the interest...
CHENNAI/BANGALORE: Navratna defence PSU Bharat Electronics Limited (BEL) has recorded a profit before tax of Rs 975 crore and a turnover of Rs 5,710 crore (provisional) for fiscal 2011-12. A release from the company said, BEL had also seen exports of $38.45 million. The turnover per employee during 2011-12...
NEW DELHI: Against the backdrop of concerns voiced by Gen V K Singh over deficiencies and shortages, the Army has laid thrust on modernisation with air defence topping the list of allocations earmarked for the current financial year. The Army’s emphasis on upgradation is in view of “threat perspective”...
The defence ministry has decided to introduce Chinese language from this academic session in one of it’s prestigious residential schools. The students will be taught the Chinese language from this session, Rashtriya Military School (RMS) principal Arun Kulkarni told IANS Wednesday. He said the Chail school is the first...