NEW DELHI: People getting power supply from BSES discoms will have to shell out more on electricity bills while consumers under Tata Power distribition limited will benefit from a marginal drop in the rates. Power regulator DERC today increased power tariff by two per cent for consumers under BSES...
KOLKATA: While Coal India Ltd (CIL) has signed at least 10 fuel supply agreements (FSAs) with power companies, concerns of the country’s largest power producer, NTPC, are yet to be settled. NTPC, also owned by the Central government, had refused to sign new FSAs, saying there was no supply...
NEW DELHI: Moody’s on Wednesday retained the ‘Baa3’ foreign currency long term issuer rating of Power Finance Corp and Rural Electrification Corp, both indicating moderate credit risk. The agency said these ratings on the two entities are underpinned by their linkages with the government. Global rating agency Moody’s Investors...
KOLKATA: As many as 11 companies including ADAG group company Sasan Power were slapped showcause notices by the coal ministry for delay in development of the captive coal blocks allotted to them. The companies that were showcaused in separate letters includes Sasan Power, Hindalco, Tata Power Corp, DB Power...
NEW DELHI: The environment ministry has allowed developers of coal-based power, steel and sponge iron projects to apply for its clearance even as environmental and forest approval for the linked coal mine or block is under its consideration, easing the clearance process for these industries. In its order, the...
KOLKATA: Coal India will seek advice from the prime minister’s office through the coal ministry on how to go about signing fuel supply agreements with power units commissioned between January 2012 and March 2015. “We will ask the government on how to go about signing FSAs with plants that...
NEW DELHI: Even before the coal ministry started the competitive bidding for allocation of blocks, the trade unions have begun opposing it. The National Front of Indian Trade Unions (NFITU) on Wednesday threatened to go on a strike from July 10, demanding the cancellations of coal blocks allocated to...
NEW DELHI: The Defence Ministry (MoD) is pressing ahead with the Rs 1,800 crore purchase of seventy-five PC-7 Mark II basic trainer aircraft from Pilatus Aircraft Ltd of Switzerland. For the last one year, the purchase of desperately needed trainers for the Indian Air Force has been stalled by...
CHENNAI: The Rane Group is scouting for acquisitions in defence and aerospace. Rane is eyeing domestic companies in the “Rs 30-50 crore turnover size but with significant growth potential,” says Mr L. Ganesh, Chairman of the group. The company is particularly looking for companies operating in the areas of...
LONDON: British defence group BAE Systems said its chances of delivering profit growth in 2012 hinged on talks to finalise a fighter jet deal withSaudi Arabia, in a year marked by tight government defence budgets. “Whilst little sales growth can be expected for the group in 2012 in the...
India on Monday took a major step forward towards strengthening the security of it’s island territories by setting up a second naval base at Lakshadweep islands. The base, christened INS Dweeprakshak, was commissioned at Kavaratti in the Lakshadweep archipelago by Southern Naval Commander Vice Admiral K.N. Sushil. The base...
A day prior to the launch, V.K. Saraswat, Scientific Adviser to the Defence Minister, declared, “After tomorrow’s launch is successful, I can say that in terms of technology, all the scientists of the DRDO would have fulfilled the dream put into their eyes by Mr A.P.J. Abdul Kalam in...
NEW DELHI: After 20 years,India’s external intelligence agency Research and Analysis Wing (R&AW) is set to spread its wings — deep into enemy territory. The agency is to acquire two Bombardier jets packed with Israeli multi-mission airborne reconnaissance and surveillance systems that will multiply its capability alongPakistanandChinaborders. The Bombardier...
CHENNAI: The launch of the Radar Imaging Satellite (Risat-1) is a major step forward for India but it must increase its capacity and launch many more satellites to be considered a serious player in making military satellites, says an official of a US-based space consultancy firm. “Risat-1 represents another...
NEW DELHI: An Indian Navy cadet today set sail onboard a Chinese warship named after a 15th century eunuch admiral on a voyage to mark the anniversary of the Chinese People’s Liberation Army Navy (PLAN). Cadet David Veeravalli’s voyage typifies a military relationship withChinathat is marked by baby steps...
Chennai, May 2: The Rane group is scouting for acquisitions in Defence and aerospace. “In the next couple of years, we are looking to make one or two acquisitions especially in the areas of mechanical and electronic systems for Defence and aerospace,” says Mr L. Ganesh, Chairman. Rane is...
MUMBAI/NEW DELHI: Facing huge redemption pressure on funds raised via foreign currency convertible bonds (FCCBs), India Inc has requested the Reserve Bank of India (RBI) to allow companies to offer higher interest rates on fresh foreign currency loans or bonds, the proceeds of which will be used to pre-pay existing...
MUMBAI: The Reserve Bank of India has laid out a six-year road map to make Indian banks safer and avoid recurrence of the 2008 crisis, but it will need an estimated Rs 1.5 lakh crore in capital at a time it is scarce. The central bank has raised the...