(ET) India is in talks with Mongolia for either acquiring stakes in coking coal assets or sourcing the fuel used in the steel and metallurgical industry, said petroleum and natural gas minister Dharmendra Pradhan. He also said that the Centre wants to offer piped natural gas in Kolkata in the next one year and sought Mamata Banerjee government’s continued support for the project. The minister said India needs to import high-quality coking coal. “India has been importing coal from Australia but high-quality coking coal is also available in Mongolia and it can be imported into India at reasonable prices. We are in talks with…
Author: Aruna Sharma
(ET) State-owned oil company Saudi Aramco said on Sunday it had exercised its “greenshoe option” to sell an additional 450 million shares, raising the size of its initial public offering (IPO) to a record $29.4 billion. Aramco initially raised a $25.6 billion, which was itself a record level, in its December IPO by selling 3 billion shares at 32 riyals ($8.53) a share. But it had indicated it could sell additional shares through the over-allotment of shares. Aramco shares were flat at 35 riyals shortly after the market opened, according to Refinitiv data. A greenshoe option, or over-allotment, allows companies to issue…
(ET) Political parties and the business community in Kashmir welcomed the Supreme Court’s observation that access to internet is a fundamental right and urged the government to restore internet services immediately. Jammu and Kashmir National Conference said the observations of the apex court about snapping of internet services indefinitely were significant and that the government must take a call to review and restore connectivity immediately. The party’s provincial president Devender Singh Rana said the communication clampdown had hugely impacted the people of J&K, especially those engaged in trade, commerce and academics.
(PTI) The Centre on Friday announced that the Citizenship (Amendment) Act will come into force from January 10. In a gazette notification, the Union home ministry said the act under which non-Muslim refugees from Pakistan, Bangladesh and Afghanistan will be given Indian citizenship, will come into force from January 10. “In exercise of the powers conferred by sub-section (2) of the section 1 of the Citizenship (Amendment) Act, 2019 (47 of 2019), the Central government hereby appoints the 10th day of January, 2020, as the date on which the provisions of the said Act shall come into force,” the notification…
(PTI) Prime Minister Narendra Modi and West Bengal Chief Minister Mamata Banerjee will hold a meeting at the Raj Bhavan here on Saturday evening, a state secretariat official confirmed on Friday. According to the highly-placed official, the meeting between the two leaders will be held here soon after the prime minister arrives in the city on Saturday at around 4 pm as per the schedule. “The PM and the chief minister will be meeting at the Raj Bhavan tomorrow (Saturday) soon after he reaches the city,” the official told PTI. However, the agenda of the meeting was not disclosed by the official. Modi will be…
(PTI) NMDC Chairman and Managing Director N Brijendra Kumar on Friday said that the Union Cabinet has approved disinvestment of stake of six public sector units (PSUs) in Neelachal Ispat Nigam Ltd, and not that of NMDC. Neelachal Ispat Nigam Ltd (NINL) is a joint venture company, in which four central PSUs — MMTC, National Mineral Development Corporation (NMDC), Bharat Heavy Electricals Ltd (BHEL) and MECON — and two Odisha government companies, IPICOL and Odisha Mining Corporation (OMC), are shareholders.The government on Wednesday gave in-principle approval for strategic sale of NINL by allowing six PSU shareholders to sell their stake…
(ET) The union steel minister Dharmendra Pradhan is set to inaugurate an integrated steel hub on Saturday encompassing Odisha, Jharkhand, Chhattisgarh, West Bengal and Northern Andhra Pradesh, that aims to attract investment of nearly $70 billion in the steel sector and spur economic growth across eastern India. Part of the Prime Minister Narendra Modi’s ‘Purvodaya’ initiative for focused development of eastern states, the project will essentially focus on three key elements. This include, capacity addition through easing the setup of greenfield steel plants; development of steel clusters near integrated steel plants as well as demand centres and transformation of logistics…
(BS) In a bid to encourage Start-Ups operating in the area of renewable and alternate energy sources like Compressed Bio Gas production, GAIL (India) has opened its 4th round of applications for Solicitation of Investment Proposals from Start-Ups operating in the sphere. Considering the vast biomass resources in the country and Government’s special emphasis on its gainful utilization, GAIL plans to invest in Start-Ups operating in this high growth area. GAIL’s 4th round for Solicitation of Investment Proposals from Start-Ups operating in the Area of Renewable and Alternate Energy Sources like Compressed Bio Gas production shall remain open till 24…
(ET) Petrol, diesel prices across the country were hiked again on Friday, scaling levels last seen in November 2018 as tensions in West Asia fan global crude oil prices. The price of petrol in the national capital was increased by 15 paise to Rs 75.96 per litre, while the price of diesel was increased by 11 paise to reach Rs 69.05 per litre. Petrol price was also increased in other major metro cities with prices reaching Rs 81.40 per litre in Mumbai, Rs 78.39 per litre in Kolkata and Rs 78.77 per litre in Chennai. Similarly, diesel prices reached Rs 72.29…
HPCL’s Retail SBU has launched a mega sales campaign at 3000 HPCL retail outlets across India in association with Safilo India, the makers of Carrera and Polaroid sunglasses and optical frames. Customers filling Petrol at these select outlets (Rs.250/- for 2 wheelers and Rs.1200/- for 4 wheelers and Rs 250 for HP Refuel app) can participate in the campaign by sending SMS to 9321033330 HP<space>Dealer code<space>Bill no. The campaign will run for 2 months and will culminate with lucky draw winners having a chance of winning grand prizes like Renault Kwid RXL cars and Bajaj Platina CT 100. Carrera gift…