IOC to invest Rs 70,000 crore to expand refining capacity

Monday, 19 Feb 2018 | PTI | NEW DELHI

Indian Oil Corp (IOC) will invest Rs 70,000 crore to raise its oil refining capacity by about a quarter by 2030 as it takes the lead to meet rising energy needs of the country. IOC will expand its refining capacity to 116.55 million tonnes per annum (MTPA) by 2030 from the...

23% rise in outstandings against big wilful defaulters: PNB

Monday, 19 Feb 2018 | PTI | New Delhi

Scam-hit Punjab National Bank has seen nearly 23 per cent jump in the amount which wilful defaulters owe it, with loan outstanding of Rs 25 lakh and above, in just over eight months ended January. The wilful defaulters who have taken loans over Rs 25 lakh from the bank had a...

8 PSUs to hit capital markets next fiscal, says DIPAM Secy

Monday, 19 Feb 2018 | PTI | NEWDELHI

As many as 8 public sector companies, including Hindustan Aeronautics and RITES, will hit the capital markets next fiscal as the government intends to unlock the real value of PSUs and bring in greater accountability. Department of Investment and Public Asset Management (DIPAM) Secretary Neeraj Gupta said these initial public offerings...

OVL to bid for South Azadegan oilfield, rework Farzad-B cost

Monday, 19 Feb 2018 | PTI | New Delhi

ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), will bid for development rights of Iran's giant South Azadegan Oilfield in direct competition with the likes of global giants like Shell, France's Total, Petronas of Malaysia and Russia's Gazprom. OVL will also rework the $6.2 billion...

Crisil puts PNB ratings on the watch

Monday, 19 Feb 2018 | PTI | Mumbai

Rating agency Crisil has put the scam-ridden Punjab National Bank's ratings on 'watch', following the Rs 11,400-crore fraud detected by the lender at one of its Mumbai branches. The fraudulent transactions were carried by the diamond jeweller Nirav Modi and his companies by acquiring fraudulent letters of undertaking (LoUs) from the...

‚ÄėCentral Bank to maintain status quo through first half of this year‚Äô

Monday, 19 Feb 2018 | PTI | New Delhi

The Reserve Bank of India (RBI) is expected to be in wait-and-watch mode in the near term, and is likely to maintain status quo, through the first half of this year, says a report. According to Kotak Institutional Equities, besides rising retail inflation, the other factors that are expected to keep...

RIL plans Rs 60k-cr digitial industrial area in Maharashtra

Monday, 19 Feb 2018 | PTI | Mumbai

Billionaire industrialist Mukesh Ambani on Sunday said his firm Reliance Industries Ltd (RIL) and its global partners will set up the country’s first integrated digital area in Maharashtra entailing investments of Rs 60,000 crore “Reliance along with other global companies will invest over Rs 60,000 crore in the next 10 years...

Incentives for green tech, artificial intelligence likely

Monday, 19 Feb 2018 | PTI | New Delhi

The Government is expected to provide incentives for use of frontier technologies like artificial intelligence and robotics in the new industrial policy that is likely to be unveiled soon, sources said. Besides, the industries would also be encouraged to adopt green technologies to promote cleaner environment. The proposed policy, the draft of...

Coal import rises by 12% to 18 million tonnes in January

Monday, 19 Feb 2018 | PTI | New Delhi

The country’s coal import increased by 12.4 per cent to 18.49 million tonnes (MT) in January, against 16.44 MT in the same month of the previous fiscal, according to m-junction, a leading name in the e-auction space. On a month-on-month basis, however, there was a flat growth in non-coking coal, it...

CII-IBA Q4 Financial Conditions Index up over 2016-17, falls below Q3

Monday, 19 Feb 2018 | IANS | New Delhi

While the Confederation of Indian Industry (CII)-Indian Banks’ Association (IBA) Financial Conditions Index for the current fourth quarter at 53.2 is showing an increase over the same period a year ago, it marks a fall over the previous quarter and there is also a decrease in the cost of funds...


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Zuma’s downfall gives ANC a final chance

18 Feb 2018 | Gwynne Dyer

Now that Jacob Zuma has finally exited, the African National Congress, which has fallen a long way from its glory days, has one last chance to rebuild its reputation before next year’s election. Whether the ANC is the best bet for South Africans is a different question altogether As a passer-by in the upscale Johannesburg suburb of Saxonwold observed, the South African Police would never have raided the enormous, high-walled compound...

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Fight between ruling party and citizens: Hardik

20 Feb 2018 | Staff Reporter | Bhopal

Patidar Anamat Andolan Samiti (PAAS) leader Hardik Patel on Monday said that the fight in Madhya Pradesh is not between BJP and Congress but the ruling party against the citizens. Before participating in the Samajik Chetna rally, talking to media persons here on Monday, Patel said, “Chief Minister in Madhya Pradesh is called Mama (uncle) but we don’t want a Shakuni Mama...

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