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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...
NEW DELHI: In a move towards greater capital account convertibility, the finance ministry has signalled its intent to sell sovereign bonds to foreign investors. For the first time ever, finance minister Pranab Mukherjee has outlined the option of selling sovereign bonds overseas in the Budget 2012-13 papers. Saleof government...
New Delhi: The Prime Minister has agreed to the demand of the chief ministers of several states for a separate meeting on National Counter Terrorism Centre (NCTC). There will be no decision on NCTC before the meeting of the chief ministers on May 5. This came after pressure, not...
MUMBAI (Reuters) – Indian shares headed for a third consecutive session of gains led by blue chip BHEL after the power equipment maker posted positive provisional earnings, raising optimism about profits in the capital goods sector. Banks such as State Bank of India and ICICI also gained, with each up...
India today welcomed the US announcement of a bounty of USD 10 million on Pakistan-based Jamaat-ud-Dawa chief Hafiz Saeed, the mastermind of the 26/11 Mumbai attacks, saying it sends a strong signal to Lashker-e- Toiba and its patrons. “India welcomes US notification under the Rewards for Justice Programme. (It)...
CHENNAI: Under attack from political parties for the steep hike in power tariff, Tamil Nadu Chief Minister Jayalalithaa on Tuesday announced subsidising part of the increase for domestic consumers. Making a suo motu statement in the state assembly, Ms. Jayalalithaa said the present move will benefit 1.5 crore families...
NEW DELHI: India on Monday allowed foreign vendors to use transfer of technology to fulfil their offset credits, easing the policy aimed at developing the indigenous industry. The government also increased the time for bank offset credits to seven years, from the present two-year limit within which foreign vendors...
India on Monday approved the crucial five-year and 15-year modernisation plans of the armed forces beginning 2012, after almost a year-long delay. The Defence Acquisition Council (DAC), at a meeting chaired by Defence Minister A.K. Antony, gave it’s nod for the 15-year Long-Term Integrated Perspective Plan (LTIPP) that will...
CHENNAI/HYDERABAD: US-based chopper manufacturer Sikorsky Aircraft Corporation, part of United Technologies Corp, and Tata Advanced Systems Limited (TASL) have applied for a defence licence to manufacture components and assemble helicopters for use by the Indian Navy, according to Steve Estill, vice-president (strategic partnerships), Sikorsky. “The licence will pave the...
CHENNAI/BANGALORE: The BEML Limited, a defence public sector undertaking, is moving forward in the aerospace vertical as part of the expansion of its defence business. In this regard, BEML has begun work on an aerospace manufacturing division at SEZ near the Bangalore International Airport, Devanahalli. The ground breaking for...