(ET Energy) Indian state fuel retailer Hindustan Petroleum Corp Ltd (HPCL) aims to invest about 20 billion rupees ($231.04 million) in the next two to three years to set up 24 compressed biogas (CBG) plants, a company official said on Friday. India, among the world’s largest greenhouse gas emitters, is exploring the use of organic waste to produce cleaner fuels as part of its efforts to reduce carbon emissions and achieve its 2070 net-zero target. HPCL Renewable and Green Energy Ltd, an HPCL subsidiary that is executing the project, has already set up two plants and would set up 24…
Author: Aruna Sharma
(FE) Air India has outlined plans to temporarily halt some international flights following the deadly Ahmedabad plane crash. The domestic carrier will see a 15% reduction in flights operated with widebody planes from June 21 to July 15. CEO Campbell Wilson said the decision was taken to have more aircraft on hand to handle “any unexpected issues”. Air India has indicated that affected passengers will be offered complimentary rescheduling or refunds. The temporary reduction in services will apply to Boeing 787 and 777 aircraft — primarily from routes starting in Delhi. Air India said the reductions arise from the decision…
(FE) India and the UK on Thursday reviewed the progress made in the ongoing Free Trade Agreement (FTA) negotiations, with a view to charting out a clear, time-bound roadmap for its finalisation and implementation. “(Both sides) reiterated our shared goal of implementing the comprehensive and mutually beneficial FTA that reflects the ambitions of both nations,” commerce and industry minister Piyush Goyal posted on ‘X’ after meeting UK secretary of state for business and trade Jonathan Reynolds in London. The conclusion of FTA negotiations between India and the UK was announced on May 6. The agreement is getting ready to be signed. Work on documentation…
(FE) Union Petroleum and Natural Gas Minister Hardeep Singh Puri talks about how biofuels and green hydrogen will fuel a $7–10 trillion economy vision. While talking to CNN News 18 he said, “India has already achieved 20 per cent ethanol blending in petrol—six years ahead of the original target of 2030.” He revealed that the country is making strong progress in its journey towards cleaner fuels. Achieve ethanol blending of even 5 per cent blending was difficult in past: Puri Puri shared with CNN News18 how challenging it was to push ethanol blending in the past. He said, “When I was ambassador to Brazil, the government…
(HT) The defence ministry on Thursday said it has set up a high-powered committee, headed by the director general (acquisition), to steer a comprehensive review of the Defence Acquisition Procedure (DAP) 2020 for speedy modernisation of the armed forces and boosting self-reliance in the critical sector. The panel includes senior officers from the ministry, representatives from the defence industry and academia. “Following the declaration of 2025 as the ‘year of reforms’, the defence ministry has initiated a comprehensive review of the DAP 2020 to align it with existing government policies and initiatives. A committee headed by the director general (acquisition)…
(The New Indian Express) Prime Minister Narendra Modi is set to inaugurate and lay the foundation stone of various infrastructure and development projects worth Rs 5,700 crore in Bihar’s Siwan district on Friday. This marks his second visit to the poll-bound state in under a month and his fifth since January this year. Modi’s visit is expected to further energise the political atmosphere in Bihar, where state assembly elections are scheduled for October-November. During his visit, he will also flag off a Vande Bharat Express train connecting Patliputra railway station in the state capital to Gorakhpur in neighbouring Uttar Pradesh.…
(The New Indian Express) With the Reserve Bank slashing the key lending rate by 100 bps to 5.5% since February, the cost of funds in general, especially for depositors, has been on a southward-ho. It’s not that borrowers haven’t benefitted, they did, especially those on the repo-linked floating rates, but not to the extent of the loss of depositors. Analysts see more downward pressure on the pricing of term deposits, even as the savings bank deposit rates have hit the rock bottom at 2.5% at the country’s largest lender SBI. Repo-linked loans constitute only about 45% of the credit system.…
(The New Indian Express) Amazon India will invest over Rs 2,000 crore( $233 million) this year to enhance its pan-India operations network. On Thursday, the company announced that the investment will be used to expand and upgrade operations infrastructure, improve associate safety and well-being programs, and develop new tools and technology for its fulfillment network. Amazon plans to leverage these investments to launch new sites and upgrade existing facilities across its fulfilment, sortation and delivery network. This investment will enhance processing capacity, improve fulfillment speed, and increase efficiency across the company’s operations network that will help Amazon serve customers across…
(The New Indian Express) In a big relief to banks, the Reserve Bank has issued the final directions on project finance, asking lenders to maintain general provision of 1.25%, as against the 5% proposed in the draft norms, on commercial real estate, and 1% each on commercial real estate-residential housing and other portfolios during the construction phase. The new relaxed norms will come into force from October 1. In February, governor Sanjay Malhotra had said project financing norms would get deferred by a year and are not to going be implemented before the end of March 2026. This is the…
(PIB) Prime Minister Shri Narendra Modi will visit Bihar, Odisha and Andhra Pradesh on 20th – 21st June. He will visit Siwan in Bihar on 20th June and lay the foundation stone and inaugurate multiple development projects at around 12 noon. He will also address the gathering on the occasion. Thereafter, he will visit Bhubaneswar in Odisha and chair the State-level function marking completion of one year of the State Government of Odisha at around 4:15 PM. He will also inaugurate and lay the foundation stone of multiple development projects worth over Rs 18,600 crore and address the gathering on…