Opinion
Appeal
The legacy of IPA, founded by Nikhil Chakravartty, the doyen of journalism in India, to keep the flag of independent media flying high, is facing the threat of extinction due to the effect of the Covid pandemic. Only an emergency funding can avert such an eventuality. We appeal to all those who believe in the freedom of expression to contribute to this noble cause.Investors may sway state-run banks' boardroom dynamics
MUMBAI: The Cabinet-approved Banking Amendments Bill proposing a rise in public sector bank shareholders’ voting rights may see investors vie for larger stakes and a greater say. The cap on voting rights is proposed to be raised from one to 10 per cent in public sector banks (PSBs) and...
US Says Retro Tax To Impact Investment, Pranab Differs
NEW DELHI: Finance Minister Pranab Mukherjee on Friday told Lok Sabha the retrospective amendments to the tax laws proposed in the Budget will not have any impact on foreign investment, just after the new US ambassador to India raised the issue at a business function. The proposed amendments will...
Finance Ministry Pulled Up For Wrong Food Bill Math
NEW DELHI: An expert panel of the Planning Commission has pulled up the finance ministry for underestimating the food subsidy in the Budget, saying the unrealistic assessment would lead to avoidable payment of arrears and interest payouts. A working group for the 12th Five Year Plan (2012-17) said in...
CIL To Set Deadline For Signing FSAs
KOLKATA: Coal India plans to take an aggressive stand against power producers and set a deadline after which it will not sign fuel supply agreements (FSAs) with the companies, as the state monopoly fights back after being arm-twisted to commit long-term fuel supply. Coal India’s board has already decided...
FIIs Bullish On India Equity Funds
MUMBAI: Foreign portfolio investors seem to have taken a fancy for equity mutual funds these days, even as their domestic counterparts are reducing exposure to such funds. Better onshore fund management capabilities of Indian fund managers coupled with high levels of transparency and exposure to quality second-line stocks are...
Trai's Spectrum Auction Proposal Can Raise Tariff By 30 Per Cent, Warn Telecom Companies
NEW DELHI: India’s five mobile phone companies including Bharti Airtel on Friday accused the telecom regulator of issuing a ‘highly retrograde set of recommendations on spectrum auctions’ and demanded that communications minister Kapil Sibal reject all key proposals suggested by the Telecom Regulatory Authority of India (Trai). Using unusually...
Pratibha Patil Ending Term Amidst Controversy
By Harihar Swarup One does not known whose victory it was; of the RTI or of President Pratibha Patil? Presuming there was no RTI, she would have jolly well gone and constructed her post-retirement mansion in Pune. Three cheers to the activists, who raised the issue, had their way...
Post-Piravom, Cracks Resurface On UDF Wall
From P. Sreekumaran THIRUVANANTHAPURAM: The uncharacteristic unity displayed by the constituents of the ruling United Democratic Front (UDF) to win the crucial Piravom by-election has vanished into the thin air. And the partners of the UDF are back at what they are best at doing: squabbling for the spoils...
Billionaire Mittal Pushes Pakistan Detente With Refinery
NEW DELHI: Billionaire Lakshmi N. Mittal and an Indian oil (IOCL) company are formally opening a $4 billion refinery on the northern border with Pakistan as the countries that have fought three wars seek to stimulate trade. Indian Prime Minister Manmohan Singh is slated to inaugurate the plant tomorrow,...
Reduce Petrol Tax By Rs 6 Per Litre: Oil Ministry
NEW DELHI: The oil ministry has asked for a tax cut of Rs 6 per litre on petrol to help avoid a sharp rise in retail price of the fuel, but the finance ministry, which has already surrendered Rs 49,000 crore by reducing various levies of fuels last year,...
TAPI Pipeline: Transit Fee Likely To Be Finalised By Next Month
NEW DELHI: With India, Pakistan and Afghanistan reaching a broad understanding on the issue of transit fee for import of natural gas through the proposed $7.6 billion Turkmenistan, Afghanistan, Pakistan and India (TAPI) pipeline project, the nations concerned are likely to meet next month to sort out the issue...
Energy Companies Operating In Mozambique Plan To Ship Mozambique Gas To India
MUMBAI: Energy companies operating in Mozambique, which reported one of the world’s biggest natural gas discoveries in recent years, are eyeing the vast Indian market and have started discussions with state energy firms, hoping that the African nation will follow Qatar’s footsteps in shipping vast quantities of gas to...
LPG Shortage Is Looming Large
CHENNAI: The country, particularly south India, is facing an acute shortage of liquefied petroleum gas, something that the state-owned oil marketing companies attribute to a combination of factors, including financial constraints in the backdrop of their mounting under-recoveries. “It is a crisis and prevails, ironically, during the beginning of...
IOC Offers Support To Sri Lanka Refinery
COLOMBO: The Lanka Indian Oil Corporation has stepped in to offer support to Sri Lanka at a critical juncture. Its only refinery, Sapugaskanda, can only process Iranian crude efficiently. With U.S. sanctions looming, the refinery needs to be urgently revamped to function with better efficiency. The Lanka IOC, a...
ONGC Aggressive On Shale Gas Exploration: CMD
Corporation Ltd (ONGC) is aggressively pursuing technology intensive exploration opportunities including shale gas exploration on the western coast of India. Sudhir Vasudeva, chairman and managing director, ONGC Ltd informed that Cambay region in Gujarat has lot of shale gas potential, which can be explored over a period of time....
ONGC May Look At Setting Up More Urea, Power Plants
AHMEDABAD: Oil and Natural Gas Corporation Ltd (ONGC) on Thursday said it is open to set up more urea and gas-based thermal power plants in the areas it has a presence in the hydrocarbon sector. Asked if the company would replicate its Tripura model, where it has invested Rs...
ONGC Wants Centre To Offset Additional Cess On Crude
AHMEDABAD: PSU oil major, Oil and Natural Gas Corp (ONGC), today said that it has appealed the government to offset the additional cess on crude. “Our appeal is to at least offset the additional cess burden, which has increased by 80 per cent from Rs 2,500 to Rs 4,500...
RIL's Gas Production From KG-D6 Fields Below 34 mmscmd/Day
NEW DELHI: Reliance Industries has reported natural gas production from its eastern offshore KG-D6 fields dropping to less than 34 million standard cubic meters a day. Gas output from KG-D6 in the week ended April 1 dropped to 33.89 mmscmd from 34.09 mmscmd in the previous week, according to...
