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NEW DELHI: Following furore over an initial CAG report that estimated huge losses to the exchequer in the allotment of mines, the government has said it is ready with the list of coal blocks to be bid and the auction process will kickstart by June. “The work of identification...
NEW DELHI: Coal India won’t discontinue the lucrative business of e-auctioning of the fuel in order to be able to comply with the presidential directive to sign fuel supply agreements (FSAs) with power companies to meet 80% of the latter’s needs. Despite a suggestion made by the power ministry...
NEW DELHI: Little over a year after he snapped up London’s iconic Grosvenor House hotel, Subroto Roy is about to do a similar deal across the Atlantic. The Sahara Group is in exclusive talks to acquire The Plaza, a 105-year-old landmark property in New York whose guests have included...
NEW DELHI: State lender India Infrastructure Finance Company (IIFCL) is set to announce a $1-billion infrastructure debt fund through mutual fund route on April 10. With the funding of R1,350 crore, IIFCL will own 26% stake in the fund while IDBI Bank will have 14% and Life Insurance Corporation...
NEW DELHI: The proposed India-European Union (EU) broad-based trade and investment agreement (BTIA) is expected to set new standards on issues related to investment, which has emerged as a bone of contention between both sides. While the EU has demanded the chapter on investment be negotiated before the trade...
Kolkata: Close to two months after Coal India Ltd (CIL) said it was not in the business of imports, the chairman designate of the world’s largest coal mining company is looking to revisit the option. S Narsing Rao, who takes charge as CMD in two weeks, will do what it...
NEW DELHI: After getting the approval of Attorney General Goolam E Vahanvati for seeking a Presidential Reference on the Supreme Court’s February 2 orders cancelling 122 mobile permits issued in 2008, the telecom department has moved a Cabinet note on the issue and sought the inputs from all ministries....
MUMBAI: The government’s move to defer the easing of foreign direct investment (FDI) in insurance will hit IPO plans of large companies and, possibly, push consolidation. TOI had on Tuesday reported that the proposal to increase FDI cap in insurance to 49%, introduced in the 2004-05 Budget, had been...
By Nantoo Banerjee Is the country’s national security in foreign hands? One would shudder to even imagine such a possibility. Yet, the unpalatable truth is: India’s defence forces are 70 per cent foreign dependent on armament supplies – from Russian nuclear subs, aircraft carriers, US and French fighters, Swedish...
From Pradeep Kapoor LUCKNOW: Young and socialist chief minister Akhilesh Yadav is establishing a dialogue with different sections of society and working to create a climate for investment in Uttar Pradesh. In order to show the people that he was an ordinary person like others he scaled down his...
By Kalyani Shankar Both the Congress President Sonia Gandhi and her son and the AICC General secretary Rahul Gandhi have zeroed in on the lack of organisation as the main reason for the failure of the party in recent Uttar Pradesh polls and Mrs. Gandhi had said there...
Rahul Gandhi will be the new AICC general secretary in charge of Uttar Pradesh replacing Digvijay Singh. Recovering from his defeat in UP Rahul has refused to take on more responsibilities in the party before he revives the Congress in Uttar Pradesh. In the wake of the UP results,...
MUMBAI(Reuters) – Indian shares fell for the first session in four as banks and real estate developers reversed recent gains after a services index dropped while input costs rose, sparking fears of a worrisome combination of slowing growth and high inflation. The caution also reflected weaker global stock markets...
New Delhi: With the Congress debacle in the Uttar Pradesh Assembly polls coming as a jolt, Rahul Gandhi today began the task of analysing the outcome to make the party battle-ready ahead of the Lok Sabha polls in 2014. Gandhi, who led the party in the crucial polls, held...
VISAKHAPATNAM: The 8,140-tonne steel shark floated menacingly, tethered to the jetty, as if waiting to break free. Soon, it will, to prowl silently underwater for extended periods hunting for enemies to track and kill. The nuclear-powered attack submarine INS Chakra, with lethal “hunter-killer” and intelligence-gathering capabilities”, was formally inducted...
MUMBAI: India largest engineering company by sales L&T said on Wednesday it purchased British naval ships equipment maker Thalest for an undisclosed sum, a move which will help the Indian company to develop equipments for both naval and marine ships. “Thalest and Servowatch will not only help in controlling...
US Navy’s Nimitz-class aircraft carrier, USS Carl Vinson, the largest warship in the world, is heading towards Chennai for Exercise Malabar 2012. The nuclear-powered USS Carl Vinson (CVN-70), which the American military had used to dispose the body of Osama bin Laden at an undisclosed location in the Indian...
After 13 years of operation, INSAT-2E, the last of the five satellites in the INSAT-2 series, has successfully completed its mission life. INSAT-2E was built with a planned mission life of 12 years and continued to function beyond that, the Indian Space Research Organisation (ISRO) said in a statement...