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NEW DELHI: A US official on Monday indicated that her country understood India’s complex relationship with Iran but said the ties would be important in persuading the West Asian nation to fulfil international obligations. This was conveyed by Wendy Sherman, US undersecretary of state for political affairs, in a...
NEW DELHI: The government is likely to issue a presidential directive to Coal India (CIL) on fuel supply pacts tomorrow. This would force the state-owned miner to sign fuel supply agreements (FSAs) with power companies at 80 per cent commitment levels. The move would upset shareholders of the world’s...
NEW DELHI: Asserting that India is a socialist country with a large number of poor people, coal minister Sriprakash Jaiswal has claimed that pricing decisions of government-run companies cannot be set to secure only profits. Speaking at the Idea Exchange organised by the Express Group on Monday, the minister...
MUMBAI: Shareholders, both small and big, of state-owned coal producer Coal India Ltd (CIL) have rallied behind The Children’s Investment Fund (TCI), the British hedge fund, in its recent actions against Coal India. Individuals, as well as institutions, have written to the fund, encouraging it to continue the campaign...
NEW DELHI: The Children’s Investment Fund Management (UK) Llp (TCI) is considering its options for pursuing legal action against Coal India Ltd (CIL), including a petition before the Company Law Board’s regional bench at Kolkata, for taking decisions that hurt small investors, according to a person familiar with the...
MUMBAI: Oil and Natural Gas Corp has declined to participate in the stake sale of the pipelines company owned by Mukesh Ambani and other promoters of Reliance Industries Ltd but other state firms such as Oil India and Gail India are evaluating the prospect. The company, Reliance Gas Transportation...
MUMBAI: Indian companies will have to pay more for renewing their insurance policies as reinsurance companies have raised premium rates by up to 15% after burning their fingers in record number of natural catastrophes last year. General Insurance Corporation of India, which is the designated national reinsurer, has decided...
By Amulya Ganguli Just as the plethora of scams showed that the presence of a decent individual at the head of the government does not guarantee its probity, the latest uproar over the army chief’s allegations is yet another proof that the defence minister’s personal integrity does not ensure...
By Praful Bidwai So disastrous has been the recent performance of the United Progressive Alliance that some political observers have begun to write off the coalition altogether, in particular the Congress which leads it. Scandals continue to pour out of the government week after week—the latest being the insidious...
New Delhi: State-owned oil companies today warned of disruptions in fuel supplies if they are not allowed to raise petrol price or compensated for the Rs 48 crore per day loss they incur on selling fuel below cost. ”The situation is very critical. We are losing Rs 7.67 per...
Kolkata: Former Chief Minister Buddhadeb Bhattacharjee is likely to step down from the CPM politburo, according to sources on Sunday. The veteran Marxist has purportedly written a letter to party general secretary Prakash Karat conveying his wish to abdicate from the CPM’s highest decision-making body. Bhattacharjee has cited illness...
Chennai: Tamil Nadu Chief Minister J Jayalalithaa has raked up the National Counter Terrorism Centre (NCTC) issue once again in a letter written to Prime Minister Manmohan Singh. Jayalalithaa, one of the vociferous opponents of the NCTC, has demanded a separate meeting of all the chief ministers to discuss...
The government is once again exploring the possibility of raising the cap on foreign direct investment in defence to 49% from 26%, in the face of hectic lobbying by Indian and foreign companies. According to top officials, while orders are increasing in size, foreign contractors are finding it difficult...
NEW DELHI: From the first test of Agni-V in a fortnight, an operational submarine-launched ballistic missile (SLBM) by 2013 and a missile shield for Delhi by 2014 to combat drones, quick-launch micro satellites and Star Wars-like laser weapons in the coming years, DRDO promises to deliver on all fronts....
BANGALORE: Hindustan Aeronautics Limited clocked Rs 14,001 crore sales during 2011-12, an increase of 6.74 per cent over the previous year, according to provisional financial performance for the fiscal. Profit before tax for the year is Rs 3,200 crore, the Bangalore-headquartered Navratna defence public sector unit said in a...
BrahMos Corp. is looking to develop a new anti-ship missile with a smaller diameter and lighter weight than the present BrahMos supersonic cruise missile. The proposal, tentatively called BrahMos-3, is aimed at putting together a potent anti-ship/anti-surface missile for the Indian Navy’s MiG-29K and IAF MMRCA. Revealing plans for...
Contradicting Army chief Gen V. K. Singh,India’s scientific advisor V. K. Saraswat, who is heading the DRDO has given full marks to the Tatra trucks. Mr. Saraswat claimed the trucks were outstanding and there was nothing substandard about the vehicles which are used as a base for launching missiles...
BANGALORE: After its launch was put off apparently due to ISRO row,India’s indigenously designed and developed all-weather satellite that has the unique capability of imaging during day and night may be launched on April 20, a “lucky” day for the space agency. As preparations were underway for the blast-off...