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NEW DELHI: US defence major Lockheed Martin has bagged a deal expected to be worth over R100 crore for supplying laser-guided bombs (LGBs) for the Jaguar fighter aircraft fleet in the Indian Air Force (IAF). The IAF plans to induct more than 100 bunker-buster LGBs for its Jaguar warplanes...
The Indian Space Research Organisation has signed a deal with Antrix Corporation Limited which is believed to be valued at around Rs 100 crore, to launch an 800 kg satellite of ASTRIUM SAS, a Company under EADS,France. A commercial launch services agreement between Antrix Corporation Limited (ANTRIX) and ASTRIUM...
NEW DELHI/BANGALORE: The divide between Chief of Army Staff V K Singh and his predecessor, Deepak Kapoor, deepened as the latter on Tuesday said he had received no complaint from any level in the Army about the performance of the Tatra trucks. The now-controversial vehicles were made from CKD...
NEW DELHI: The defence ministry has denied reports that two key Army units moved towards Delhi this January without prior notification. According to Times Now, the Indian Army has also rejected the conclusions drawn in the report and has said that such exercises are routine procedure. “The points raised...
NEW DELHI: Edinburgh-based Cairn Energy Plc today said it will acquire Norwegian oil firm Agora Oil & Gas for $ 450 million. This is Cairn’s first major deal after selling out majority stake in its Indian unit to London-listed mining group Vedanta Resources, and follows its strategy of reducing...
NEW DELHI: Independent directors are increasingly asking the boards of state oil companies why they have not raised petrol prices for months to cut losses even though the Cabinet has granted them the freedom to price the fuel. Top executives at Indian Oil, Bharat Petroleum Corp and Hindustan Petroleum...
NEW DELHI: Indian oil and gas producer Oil India Ltd is looking at buying a stake in Chesapeake Energy Corp.’s Mississippi Lime formation in Oklahoma, a source with knowledge of the matter said on Tuesday. “Oil India is examining this and will shortly send a team to the US,”...
MUMBAI: Three weeks after anticipating a drop in Reliance Industries’ Krishna Godavari (KG)-D6 block, Niko Resources, its 10 per cent partner in the block, said an integrated development plan for commercialisation of approximately three trillion cubic feet of additional discovered gas would be submitted to the Indian government by...
NEW DELHI: Reliance Industries has reported a further drop in natural gas production at its eastern offshore KG-D6 block to about 34 million standard cubic meters per day. KG-D6 gas output in the week ended March 25 was 34.09 mmscmd as against 34.62 mmscmd in the begging of the...
NEW DELHI: KG basin Cairn India, a Vedanta group company, has announced an oil discovery in its onshore block in the Krishna-Godavari basin where it had made a gas discovery about a year ago said. The company has informed about the discovery to the block’s management committee (MC) and...
MUMBAI: The grand partnership for homeland security between Reliance Industries and global engineering and electronics giant Siemens may be coming apart in just six months, even before it could formally take off. Serious differences are believed to have cropped up over strategic and operational issues from technology transfer and...
NEW DELHI: The country’s two top companies, oil-to-retail giant Reliance Industries Ltd (RIL) and FMCG major Hindustan Unilever Ltd, have got into a tie-up to collaborate in setting up a chain of beauty and wellness formats across the country. Their stated aim is to bring these products to the...
SINGAPORE: Brent crude extended losses toward $124 a barrel on Wednesday after the US central bank dashed hopes of further economic stimulus, while news that Saudi Arabia is likely to keep output high in the event of a strategic stocks release also weighed. Industry data showing a larger-than-expected rise...
NEW DELHI: Bharat Heavy Electricals, which is facing stiff competition from Chinese equipment makers, today said it is open for collaboration with companies from the neighbouring country. In response to a query on whether the company would be open for collaboration with Chinese entities, BHEL Chairman and Managing Director...
NEW DELHI: The government has decided to put its plan to divest its stake in power equipment maker Bharat Heavy Electricals (BHEL) on hold. The company has withdrawn the draft red herring prospectus (DHRP) for a follow-on public offering (FPO) filed with the Securities and Exchange Board of India...
WASHINGTON: Scientists have found radioactive material from the crippled Fukushima nuclear reactor in tiny sea creatures and ocean water some 600 km off the coast of Japan, revealing the extent of the release and the direction pollutants might take in a future environmental disaster. Using 24 specially equipped drifting...
MUMBAI: Fears that the loss-making Suzlon Energy may default on repayment of foreign currency convertible bonds worth $569 million have been aggravated after the resignation of Robin Banerjee, who was an integral part of the company’s fund mobilisation initiatives as the chief financial officer. Analysts are linking the CFOs...
NEW DELHI/KOLKATA: The government issued a presidential decree to force Coal India to guarantee long-term fuel supply to private power firms, as it used its discretionary authority to trump independent directors who resisted pressure from the Prime Minister’s Office and said such pacts would harm the company. The rare...