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Mumbai: Singapore-based Ascol, a consortium of four private equity funds, will purchase 74% in IL&FS Tamil Nadu Power Company for R4,000 crore, a person with direct knowledge of the development said. The company is building a 3,600-MW coal-fired power plant in Cuddalore in Tamil Nadu. India’s leading financial services...
NEW DELHI: Reliance Power has made it clear that it will not go ahead with the implementation of its R17,500-crore Krishnapatnam ultra mega power project (UMPP) in Andhra Pradesh unless contracted buyers agree on tariff revision to accommodate the increase in fuel cost from the recent change in the...
Efforts to stem global warming have nurtured a strong urge worldwide to deploy renewable energy. As a result, the use of wind turbines has increased 10-fold over the past decade, with wind power often touted as the most cost-effective green opportunity. According to Connie Hedegaard, the European Union’s commissioner...
HYDERABAD:India’s missile power is set to get a boost with a surface-to-air missile unit set to come up at a cost of Rs 30,000 crore at Ibrahimpatnam in Andhra Pradesh’s Rangareddy district. The foundation stone for the project by Bharat Dynamics Ltd (BDL) was laid by chief minister N...
India’s defence budget for 2012-13 confirms the Indian Army’s degeneration into a low technology, manpower-intensive force that spends most of it’s money on day-to-day running and salaries. On the other hand, the Indian Navy and Air Force fast turning into modern, space-age forces. In real terms, the military’s modernisation...
Indian air force (IAF) Chief N A K Browne is expected to arrive in Bangladesh on Monday ‘aiming to expand defence cooperation’ between New Delh iand Dhaka. He will hold talks with political leadership and the top military brass during his four day visit, a PTI report says. The...
KATHMANDU: Indian and British armies may no longer be able to employ Gurkhas, known for their valour, following a Nepalese government decision to eventually stop their recruitment in foreign countries. Nepal’s government has directed Ministry of Foreign Affairs (MoFA) and other concerned ministries to implement the recommendations of a...
The Defence Minister Shri AK Antony will inaugurate the 36th DRDO Directors’ Conference here tomorrow. The theme of this year’s conference is “Self-Reliance Strategy in Globalised World”. DRDO’s top brass including Directors of Laboratories, Programme Directors, Corporate and Technical Directors of DRDO Headquarters and Chief Controllers will deliberate on...
NEW DELHI: Measures to improve the functioning of Defence Research and Development Organisation (DRDO) and allow it concentrate on strategic projects like missiles, network-centric and satellite-based weapon platforms will figure prominently during the three-day conference of DRDO starting here on Monday. Defence Minister AK Antony will inaugurate the 36th...
Commenting on the launch of the SME Exchange, the CII Director General, Mr Chandrajit Banerjee commended the Ministry of MSME and Securities and Exchange Board of India (SEBI), for guiding the bourses and facilitating the way forward for the SMEs to access equity finance. Congratulating the Bombay Stock Exchange...
PUNE: The defence research and development organisation (DRDO), which has been allocated Rs 10,640 crore in the Union Budget 2012, will put a major thrust on projects including development of unmanned aerial vehicles (UAVs), Kaveri-II engine for the light combat aircraft, and new generation and tactical short-range missiles, in...
CHANDIGARH: The Judge Advocate General’s (JAG) Department, the Army’s legal wing, is in the eye of the storm yet again. Following a petition by a senior Judge Advocate General officer, alleging irregularities in the empanelment of officers for promotion, the Armed Forces Tribunal has stayed the proceedings of the...
Its significance lies in the fact that it took 40 years to happen. Next week,Bangladeshis set to honour a number of Indians, including Lt Gen J F R Jacob, one of the architects of the Indian army’s victory over Pakistani forces in the 1971 war. Those unfamiliar with history...
NEW DELHI: Reliance Communications-controlled FLAG Telecom has filed a prospectus in the Singapore Stock Exchange to list and divest 75 per cent stake in the submarine cables business for $1.25-1.5 billion (Rs 6,250-7,500 crore). The transaction is expected to be completed by the second week of May, according to...
NEW DELHI: Allaying fears of the industry, finance secretary R.S. Gujral on Sunday said budget tax proposals are not meant to cause undue harassment to companies and will not impact overseas investment into the country. But in an indication that the government plans to stick to its stand, Gujral...
The finance ministry is budgeting on the provisions in the budget to spur growth. R Gopalan, secretary, economic affairs in the ministry of finance, says it may be time for the Reserve Bank of India to rethink its monetary policy. Excerpts from an interview with ET. The budget seems...
MUMBAI: Private equity firms and capital venture funds, eyeing stakes in companies, will find it tougher to make investments in the country if a Union Budget proposal becomes a law. The proposed rule requires firms to pay income tax on the premium they have charged over their fair market...
MUMBAI: The private power producers are happy with the announcement of a slew of goodies for the sector in the Budget, but unanimously say that it makes only a marginal difference and a lot more needs to be done. They now want the government to take policy initiatives, regulators...