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October 17, 2018, Wednesday

Your Evening News Updates From Across The Media Space

STORY OF THE DAY

India May inflation likely to hit 4-month high on oil price surge

India May inflation likely to hit 4-month high on oil price surge

India's retail inflation jumped further in May to a four-month high, primarily driven by a surge in energy prices, according to a Reuters poll of economists, suggesting more policy tightening from the central bank is coming.

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MUST READ

Coal India ensures supply of better coal, output: Minister Piyush Goyal

Coal India ensures supply of better coal, output: Minister Piyush Goyal

The government has worked to ensure superior coal quality for consumers along with a focus on lowering costs of electricity, Railway and Coal Minister Piyush Goyal said on Monday.

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Fuel price hike - Petrol, diesel prices will drop instantly if brought under GST: Chidambaram

Fuel price hike - Petrol, diesel prices will drop instantly if brought under GST: Chidambaram

In the wake of the recent petrol and diesel price hike across India, former Finance Minister P. Chidambaram on Monday claimed that fuel prices would immediately come down if brought under the ambit of the Goods and Services Tax (GST).

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Tata Power Renewable wins 150 Mw Solar PV project in Maharashtra

Tata Power Renewable wins 150 Mw Solar PV project in Maharashtra

Private power producer Tata Power today announced its 100 per cent subsidiary Tata Power Renewable Energy Ltd (TPREL) has won a 150 Megawatt (Mw) Solar Photo Voltaic (PV) project on a long-term basis in Maharashtra.

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Greenko Energy Holdings equity raise and acquisition are credit positive: Moody's

Greenko Energy Holdings equity raise and acquisition are credit positive: Moody's

The $922 million acquisition of Orange Renewables Singapore by Mauritius-based Greenko Energy Holdings (GEH) and an additional $447 million equity raise from shareholders is a major positive for the clean energy company, ratings agency Moody’s Investors Service said today.

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BEL Inaugurates 16 MW Solar PV Project in Chennai’s Avadi

BEL Inaugurates 16 MW Solar PV Project in Chennai’s Avadi

Bharat Electronics Limited (BEL), a defence public sector undertaking (PSU), has successfully completed the construction of a 16 MW solar PV project at the Heavy Vehicle Factory (HVF) premises in Avadi locality of Tamil Nadu’s capital city Chennai.

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Coal India's Output Increased By 105 Mt In 4 Yrs To 567 Mt In Fy18: Goyal

Coal India's Output Increased By 105 Mt In 4 Yrs To 567 Mt In Fy18: Goyal

State-owned Coal India's output increased by 105 million tonnes (MT) in the last four years to reach 567 MT in 2017-18, Union Minister Piyush Goyal said today.

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India using lesser coal to generate power under Modi government

India using lesser coal to generate power under Modi government

India today burns 8 per cent less coal to generate the same quantity of power as it did 4 years ago leading to reduced power cost, thanks to improved efficiency in using the dirty fuel.

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Modi government’s National Steel Policy saved the country Rs 5,000 crores forex

Modi government’s National Steel Policy saved the country Rs 5,000 crores forex

Steel Secretary Aruna Sharma stated that government’s National Steel Policy has saved foreign exchange of Rs 5,000 crores since last year and has added around 24 million tonnes of crude steel capacity during the last four years.

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Solar auctions to delay further amid concerns over duty, ISTS issues

Solar auctions to delay further amid concerns over duty, ISTS issues

Solar auctions would be "dragged further" amid uncertainty about imposition of 70 per cent safeguard duty on solar equipment and concerns among developers over grant of inter-state transmission system (ISTS), according to industry sources.

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PM Modi invites Kazakhstan to join International Solar Alliance

PM Modi invites Kazakhstan to join International Solar Alliance

Prime Minister Narendra Modi met with Kazakhstan's President Nursultan Nazarbayev on the sidelines of the 18th summit of the eight-nation Shanghai cooperation Organisation (SCO) in China's Qingdao city and invited the Central Asian country to join the International Solar Alliance(ISA), confirmed the Ministry of External Affairs (MEA).

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Coal India’s realisation from e-auctions rose 20 per cent last fiscal

Coal India’s realisation from e-auctions rose 20 per cent last fiscal

Coal India’s average realisation from e-auctions has jumped 31% during the March quarter and 20% for FY18 on higher demand and international prices.

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Tepco shares jump after local election seen positive for nuclear plant

Tepco shares jump after local election seen positive for nuclear plant

Shares in Tokyo Electric Power (Tepco) jumped 8 percent at the open on Monday, following the outcome of a local election the day before that is seen as a positive for one of the utility's nuclear plants

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Batteries hasten winds of change for electricity stocks -Barron's

Batteries hasten winds of change for electricity stocks -Barron's

Bigger, better batteries are speeding up change in the U.S. electricity sector and could help powera rally in Xcel Energy Inc, American Electric Power Co Inc and other utility and renewable energy stocks, Barron's reported.

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How India's demands erode 90% of ONGC's rich cash reserves

How India's demands erode 90% of ONGC's rich cash reserves

India’s Oil and Natural Gas Corp, which once had $4.3 billion of funds, is now bleeding cash. The state-run company’s cash reserves have shrunk by more than 90 per cent in the past year, after it was ordered to purchase the administration’s stake in a refiner and it paid a record dividend.

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Exclusive: India's Nayara Energy begins cutting Iran oil imports: sources

Exclusive: India's Nayara Energy begins cutting Iran oil imports: sources

Indian refiner Nayara Energy, one of the country’s biggest buyers of Iranian oil, began cutting imports this month after the United States scrapped a nuclear deal with Tehran and said it would re-impose tough sanctions, three people familiar with knowledge of the matter said.

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World’s biggest bond investor shuns India debt on crude oil risks

World’s biggest bond investor shuns India debt on crude oil risks

India’s benchmark bond yield jumped above 8 percent last week for the first time in three years. Even that isn’t enough to lure back some of the world’s biggest money managers.

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Petrol prices cut by 20 paise per liter, diesel by 15 paise

Petrol prices cut by 20 paise per liter, diesel by 15 paise

Fuel prices were cut for the 13th day straight since the prices soared on May 29. Petrol prices in Delhi and Mumbai were slashed by 20 paise since yesterday and Diesel prices were brought down 15 paise in the capital and 16 paise in Mumbai, according to the Indian Oil website.

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Diesel demand flat, petrol’s up just 2 per cent in May amid record high prices

Diesel demand flat, petrol’s up just 2 per cent in May amid record high prices

The demand for diesel stayed flat while that for petrol crawled up barely 2% in May when fuel prices claimed record highs in the country.

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French energy regulator to recommend higher natural gas prices

French energy regulator to recommend higher natural gas prices

French energy market regulator CRE will recommend on Monday a rise of 6.5 percent in natural gas prices from July 1, a CRE spokeswoman told Reuters, confirming a report by Le Figaro.

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Oil mixed as rising US, Russia supplies weigh while strong demand provides support

Oil mixed as rising US, Russia supplies weigh while strong demand provides support

Oil prices were mixed on Monday, caught between the downward pull of rising Russian production and U.S. oil drilling activity at its highest since 2015, and upward pressure from strong demand, especially in Asia.

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GST won’t stop oil price fluctuations: Economic advisor

GST won’t stop oil price fluctuations: Economic advisor

The inclusion of petroleum products under the Goods and Services Tax (GST) will not prevent price fluctuations as India is a massive importer of crude and domestic prices will reflect global price movements, said Sanjeev Sanyal (in pic), principal economic advisor in the finance ministry.

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Higher oil prices may not amount to higher remittances this time

Higher oil prices may not amount to higher remittances this time

India took the top spot on remittances received in 2017. Remittances increased by about 10% last year over 2016, although this comes on a favourable base considering that remittances had decreased by 9% in 2016. Shouldn’t higher crude oil prices this year lead to a rise in remittances?

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You'll soon be able to book rail tickets at 290,000 centres in remote areas

You'll soon be able to book rail tickets at 290,000 centres in remote areas

Ministry of Railways and IT Ministry on Monday signed an agreement to allow ticket bookings through 290,000 common service centres (CSCs) in the country in next 8-9 months.

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AC Not Working, Train Riders In Bengal Pulled Chain, Stalled Rail Traffic

AC Not Working, Train Riders In Bengal Pulled Chain, Stalled Rail Traffic

The passengers of DN Bhramhaputra Mail today protested against non-functioning of AC units in some coaches in Malda town station disrupting train services for hours, a GRP official said.

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Railways punctuality slips from 80% to 65%

Railways punctuality slips from 80% to 65%

The Indian Railways’ punctuality score, or on-time performance of trains that ferry millions of people every day on the world’s busiest public transportation network, has fallen to 65% in the past three months, one of the lowest figures reported by railways in recent times.

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Despite large-scale works underway, only a 10% drop in timelines of trains as compared to last year: says NR Officials

Despite large-scale works underway, only a 10% drop in timelines of trains as compared to last year: says NR Officials

Days after being reprimanded by Railway Minister Piyush Goyal and drawing serious flak over the declining punctuality of trains, the Northern Railways (NR) now tried to clarify that despite large-scale works underway in the zone, there was only a 10-per cent drop in the timelines of trains as compared to last year.

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Railways to nominate Sr.TTEs as Train Captains to handle grievances of passengers

Railways to nominate Sr.TTEs as Train Captains to handle grievances of passengers

A year after introducing ‘train captains’ (nominated ticket checking staff) to monitor and address the rail passengers’ complaints and grievances in select long-distance trains, the Indian Railways has decided to designate Train Captains in all express and superfast trains.

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