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December 14, 2018, Friday

Your Evening News Updates From Across The Media Space

STORY OF THE DAY 

While fuel prices soar, petrol, diesel futures on anvil: What it is, what government says, all other details

While fuel prices soar, petrol, diesel futures on anvil: What it is, what government says, all other details

The rising petrol and diesel prices have taken a heavy toll on consumers in the last few weeks. Even though the government still hasn’t announced any immediate action plan to take control of the surging fuel prices

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MUST READ

India’s exports may jump 20% in current fiscal 2018-19 to $350 billion, but there is a major concern

India’s exports may jump 20% in current fiscal 2018-19 to $350 billion, but there is a major concern

India’s exports could rise as much as a fifth in the current fiscal year ending March 2019 to reach about $350 billion, a leading trade body said on Tuesday. The Federation of Indian Export Organisations (FIEO) also hopes India will actively engage with the United States to protect local industry’s interest, said Ganesh Gupta, president, FIEO.

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Tamil Nadu cancels land allotted to Sterlite Copper for expansion

Tamil Nadu cancels land allotted to Sterlite Copper for expansion

The Tamil Nadu government on Tuesday cancelled the land allotted to Sterlite Copper for its proposed expansion, a day after the it ordered the permanent shutdown of the Thoothukudi plant.

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Sterlite Copper will explore all options on Thoothukudi plant shutdown: CEO

Sterlite Copper will explore all options on Thoothukudi plant shutdown: CEO

Dismissing claims by protesters at Thoothukudi, Sterlite Copper chief executive P. Ramnath said the villagers are parroting allegations made by non-governmental organizations (NGOs). In an interview over phone, Ramnath said the firm’s immediate aim was to get its “consent to operate” from the Tamil Nadu government.

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Anil Agarwal’s Vedanta may face investor, political unrest

Anil Agarwal’s Vedanta may face investor, political unrest

A troubled 2018 so far for billionaire Anil Agarwal’s Vedanta Ltd may get worse amid concern that its key copper smelter in southern India could remain shut until 2019, further pressuring a stock that’s down 25% since the start of the year.

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Coal India fourth quarter net profit down 52 per cent

Coal India fourth quarter net profit down 52 per cent

State-run miner Coal India Ltd (CIL) today posted a 52 per cent drop in net profit for the quarter ended March 2018 at Rs 1,295.34 crore as compared to Rs 2,718.80 crore reported in the corresponding quarter previous fiscal year.

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BHEL’s Q4 PAT for FY 18 Jumps 112%

BHEL’s Q4 PAT for FY 18 Jumps 112%

Team EnergyInfraPost  State-owned Bharat Heavy Electricals Limited (BHEL) has registered quantum growth in its profit and order booking in fiscal 2017-18, ending the year with significant traction in growth drivers.  For the fourth quarter ending on 31 March 2018, the PBT stood at Rs.1140 Crore against Rs.269 Crore in the previous year - a jump of 324%.  PAT was declared as …

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BEE signs pacts for promoting energy efficiency standards

BEE signs pacts for promoting energy efficiency standards

Bureau of Energy Efficiency (BEE), an arm of the power ministry, announced it has signed two pacts for promoting energy efficiency in the Petrochemical and Energy Efficiency Appliances sector.

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Domestic coal supply to power sector sees 7 pct rise

Domestic coal supply to power sector sees 7 pct rise

The coal supply to power sector from CIL in the FY 2018-19 (till May 23) has been 73.6 MT, which is an increase of 14 percent as compared to the same period of last year.
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MCL gets coal linkages for Sundergarh unit: CIL

MCL gets coal linkages for Sundergarh unit: CIL

A K Jha, the newly appointed chairman and MD of CIL, told reporters here that MCL has got coal linkage for the project.
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We see opportunity in renewables, smart cities: SocGen deputy CEO

We see opportunity in renewables, smart cities: SocGen deputy CEO

As an ambition, we fixed for next three years to be structurer or to finance 100 billion of euros of new financing, including bond issuance for our clients in renewables.

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China's coal futures set for best day since Nov 2016 on supply worries

China's coal futures set for best day since Nov 2016 on supply worries

Investors piled on bullish bets even after Beijing intervened last week to try and boost supplies in an effort to snuff out the red-hot rally, which the government says is not supported by fundamentals.
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ReNew focusing on potential acquisitions after launching IPO in April

ReNew focusing on potential acquisitions after launching IPO in April

The company might consider expanding into adjacent verticals in the renewable energy value chain, banking sectors

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Britain's supply of electric cars at risk from Brexit: think-tank

Britain's supply of electric cars at risk from Brexit: think-tank

Britain risks a shortage of electric cars after Brexit as carmakers will lose an incentive to sell low-emission vehicles there, a Brussels-based think-tank warned.
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Sterlite copper plant shutdown: Resurgence of political risk for industry?

Sterlite copper plant shutdown: Resurgence of political risk for industry?

While policy risks are an accepted risk in some industries, when you add political risk it makes for a more potent combination, particularly in industries that are exposed to environmental concerns
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ONGC replaces govt nominee on HPCL board with own candidate

ONGC replaces govt nominee on HPCL board with own candidate

State-owned Oil and Natural Gas Corp. Ltd (ONGC) has replaced a government nominee director on board of Hindustan Petroleum Corp Ltd (HPCL) with its nominee as it consolidates control over the company it recently acquired.

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Crude shock: Rising prices may take a toll on grocery bills

Crude shock: Rising prices may take a toll on grocery bills

The increase could reverse, to some extent, the benefits brought about after the GST Council slashed tax on 178 items to 18% in November last year from 28% earlier.
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Fuel price hike - People angry with rising petrol prices, urge Govt to tackle hike

Fuel price hike - People angry with rising petrol prices, urge Govt to tackle hike

The fuel price hike for the 16th consecutive day has caused inconvenience and disappointment among the general public.

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Congress to protest against petrol price hike

Congress to protest against petrol price hike

Taking on the BJP-led central government over the acute hike in prices of petrol and diesel, Punjab Congress president Sunil Jakhar on Monday announced that the party would start an agitation as part of the nationwide protest to be launched by Rahul Gandhi on May 31.

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Oil prices extend decline as Saudi Arabia, Russia signal output boost

Oil prices extend decline as Saudi Arabia, Russia signal output boost

Oil prices headed for its longest run of losses since February as Saudi Arabia and Russia mull easing curbs on crude production as concerns grow over supply shortages.

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Sebi close to clearing petrol, diesel futures

Sebi close to clearing petrol, diesel futures

Sebi is examining the product features before allowing ICEX to go ahead with the launch. ICEX is also the first exchange in the world that, in August last year, launched trading in diamond futures contracts.
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Fuel prices may fall on sliding crude, rising rupee

Fuel prices may fall on sliding crude, rising rupee

Petrol and diesel are being sold for record prices in the country, prompting demand for duty cuts to cushion motorists, which has been resisted by the government.
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Has the tide finally turned for crude oil prices, or is it too early to celebrate?

Has the tide finally turned for crude oil prices, or is it too early to celebrate?

The increase in crude oil production by Russia and Opec countries, amid the Venezuelan crisis, would simply offset the involuntary production declines
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Oil prices mixed but expected output increase drags

Oil prices mixed but expected output increase drags

Brent crude futures were up 57 cents, or 0.76 percent, at $75.87 a barrel at 0028 GMT, after settling at their lowest since May 8 at $75.30.
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State oil companies' capex jumps 22 per cent in FY18

State oil companies' capex jumps 22 per cent in FY18

India’s oil demand expanded 5.3% in 2017-18, after rising 5.4% in 2016-17 and 11.6% in 2015-16. Growth in production of refined products lagged demand expansion in all three years.
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Premchand’s Hamid inspires Ujjwala scheme: PM Modi

Premchand’s Hamid inspires Ujjwala scheme: PM Modi

Prime Minister Narendra Modi on Monday said Munshi Premchand’s celebrated short story ‘Idgah’ inspired him to launch the Ujjwala scheme +

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IRCTC e-ticketing website now predicts if your waitlisted ticket will be confirmed; here’s how it works

IRCTC e-ticketing website now predicts if your waitlisted ticket will be confirmed; here’s how it works

IRCTC next-generation e-ticketing website has been revamped and now has one of the coolest features for waitlisted and RAC ticket holders! Indian Railways catering arm, IRCTC (Indian Railway Catering and Tourism Corporation), has effective today launched a new version of its e-ticketing website, irctc.co.in.

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Food Reforms: FSOs & Caterers’ Database steps to improve Indian Railways catering facilities

Food Reforms: FSOs & Caterers’ Database steps to improve Indian Railways catering facilities

A series of reformative steps, including food safety officers (FSOs) and health inspectors to carry out each task in each division of the Indian Railways

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NFR commences sending fuel products by Trains to Dharmanagar Petroleum Products Terminal in Tripura

NFR commences sending fuel products by Trains to Dharmanagar Petroleum Products Terminal in Tripura

The Northeast Frontier Railway(NFR) has started sending petroleum products directly to Tripura with the commissioning of the first petroleum products terminal at Dharmanagar in North Tripura district

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Railway Strategic Business unit bags ₹3,191-crore Bangladesh deal

Railway Strategic Business unit bags ₹3,191-crore Bangladesh deal

The Railways Strategic Business unit of infrastructure major Larsen and Toubro (L&T) Construction has bagged a ₹3,191-crore contract from Dhaka Mass Transit Company Ltd.

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Day 1 of Eastern Peripheral Expressway 50,000 fewer trucks in Delhi

Day 1 of Eastern Peripheral Expressway: 50,000 fewer trucks in Delhi

The inauguration of the Eastern Peripheral Expressway (EPE) had an immediate impact in the capital, with more than 50,000 heavy vehicles waiting to drive through Delhi being diverted to the expressway from the city's borders.

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