GOOD EVENING INDIA

December 17, 2018, Monday

Your Evening News Updates From Across The Media Space

There is no one-solution-fits-all approach to power sector stress: c, Chairman & MD, Power Finance Corp

There is no one-solution-fits-all approach to power sector stress: c, Chairman & MD, Power Finance Corp

India’s largest financier to the power sector, Power Finance Corp (PFC), has initiated resolution proceedings against defaulting power projects as per a Reserve Bank of India circular and has received bids for some of those where change of management is being envisaged.

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L&T Hydrocarbon Engineering bags onshore contract from HPCL-Mittal Energy

L&T Hydrocarbon Engineering bags onshore contract from HPCL-Mittal Energy

L&T Hydrocarbon Engineering has bagged an onshore EPC contract from HPCL-Mittal Energy for setting up cracker furnaces at their Bathinda Refinery in Punjab.

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India likely to reach biomass power generation capacity target before 2022

India likely to reach biomass power generation capacity target before 2022

​The biomass power generation capacity in India is rapidly growing since last few years as Indian government focuses on increasing power generation through renewable energy sources. As on Dec 31, 2017, the grid connected biomass power generation capacity in India stood at 8.4 GW, up from 4.95 GW as on March 31, 2016.

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Enforcing thermal plant norms may save 3 lakh lives by 2030

Enforcing thermal plant norms may save 3 lakh lives by 2030

Delaying implementation of emission norms for thermal power plants could mean massive health and air pollution costs, a new report has said.

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Rs 10,000 crore project to check power theft, electrify villages in UP

Rs 10,000 crore project to check power theft, electrify villages in UP

Lending a push to power sector reforms ahead of the 2019 Lok Sabha elections due next year, UP government on Monday announced Rs 10,000-crore UP Power Sector Improvement Project,

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India preparing to impose new safeguards if steel imports rise - Report

India preparing to impose new safeguards if steel imports rise - Report

Reuters reported that a government source said that India is planning to impose “safeguards” on steel imports if the volumes coming into the country increase beyond a certain level. The source did not specify the measures that would make up the safeguards but said steps were under discussion.

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BHP Billiton posts record annual iron ore output, beats Q4 forecasts

BHP Billiton posts record annual iron ore output, beats Q4 forecasts

Global miner BHP Billiton Ltd posted record iron ore output for fiscal 2018 on Wednesday as fourth-quarter production topped expectations and set a slightly higher target for the current year.

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What does IMF’s new growth view mean for India?

What does IMF’s new growth view mean for India?

The International Monetary Fund (IMF) said on Monday that the Indian economy will grow slower than what it had estimated just three months ago due to higher crude oil prices and speedier interest rate hikes.

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MERC Clarifies the Terms for Granting Open Access for Solar

MERC Clarifies the Terms for Granting Open Access for Solar

A ruling by the Maharashtra Electricity Regulatory Commission (MERC) has clarified that the nodal agency will grant medium-term open access (MTOA) or short-term open access (STOA) in the existing distribution system only if the resultant power flow can be accommodated.

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India's growth remains quite robust into future: IMF

India's growth remains quite robust into future: IMF

India's growth remains "quite robust" into the future, the IMF has said despite slightly downgrading the country's growth projection for 2018-19 due to high oil prices and a tight monetary policy regime.

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JSW aiming to scale up steel capacity and build brand name-Mr Seshagiri Rao

JSW aiming to scale up steel capacity and build brand name-Mr Seshagiri Rao

Economic Times reported that JSW Group has adopted a twin strategy of adding scale and creating a brand image among consumers.

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India’s renewable energy investments topple fossil-fuel for the first time in 2017: IEA

India’s renewable energy investments topple fossil-fuel for the first time in 2017: IEA

Investment in India’s renewable energy sector overtook those made in the country’s fossil-fuel based power generation projects for the first time in 2017, Paris-based International Energy Agency (IEA) has said in its World Energy Investment 2018 report.

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Bhushan Power Case: Wait till we rule on IBC – Supreme Court to NCLT

Bhushan Power Case: Wait till we rule on IBC – Supreme Court to NCLT

Even as the government has stood firm on resisting a call for easing the exclusion norms under the insolvency resolution process to retain its integrity

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NCLAT stays voting on bids for Bhushan Power & Steel

NCLAT stays voting on bids for Bhushan Power & Steel

The National Company Law Appellate Tribunal (NCLAT) on Tuesday stayed the meeting of committee of creditors (CoC) of Bhushan Power and Steel to vote on bids for the debt-ridden firm.

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India renegotiated Gazprom LNG deal to save up to Rs 9,500 cr: Oil Minister Pradhan

India renegotiated Gazprom LNG deal to save up to Rs 9,500 cr: Oil Minister Pradhan

India's renegotiated gas import deal with Russia's Gazprom will save between Rs 8,500 crore and Rs 9,500 crore over the contract period ending 2040, Oil Minister Dharmendra Pradhan said today.

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India's dilemma: Donald Trump or cheap Iran oil

India's dilemma: Donald Trump or cheap Iran oil

The US embargo on Iran oil shipments has put Prime Minister Narendra Modi in a quandary. If he plays along, India could find itself on the right side of President Donald Trump on trade but lose cheap supplies and precious foreign exchange.

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Cheap oil from Iran or Trump's good books? PM Modi finds himself in a fix

Cheap oil from Iran or Trump's good books? PM Modi finds himself in a fix

The US embargo on Iran oil shipments has put Prime Minister Narendra Modi in a quandary. If he plays along, India could find itself on the right side of President Donald Trump on trade but lose cheap supplies and precious foreign exchange.

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This element could take oil to $400 or more in 2020 that would almost certainly trigger a global recession

This element could take oil to $400 or more in 2020 that would almost certainly trigger a global recession

Wrong on all three counts. Sulfur — the yellow, infernal substance that gives rotten eggs their smell and hardens the rubber in car tires — is quietly roiling the energy industry.

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Modi government's dilemma: To buy oil from Iran or US?

Modi government's dilemma: To buy oil from Iran or US?

The US embargo on Iran oil shipments has put Prime Minister Narendra Modi in a quandary. If he plays along, India could find itself on the right side of President Donald Trump on trade but lose cheap supplies and precious foreign exchange.

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Donald Trump or cheap Iran oil: Dilemma facing fastest growing user

Donald Trump or cheap Iran oil: Dilemma facing fastest growing user

The US embargo on Iran oil shipments has put Prime Minister Narendra Modi in a quandary. If he plays along, India could find itself on the right side of President Donald Trump on trade but lose cheap supplies and precious foreign exchange.

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India need not fear oil shortage: UAE envoy

India need not fear oil shortage: UAE envoy

Even as the US-imposed sanctions on Iran has put India's energy security in jeopardy, UAE Ambassador to India Ahmed Albanna has allayed fears of an oil shortage, saying his country as well as Saudi Arabia can fill in if supply from Iran is disrupted.

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Crude oil futures fall on weak Asian cues

Crude oil futures fall on weak Asian cues

Crude oil futures fell by Rs 36 to Rs 4,633 per barrel today as speculators cut down bets amid weak cues from the Asian markets.

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Petrol, Diesel Prices Today: Check Which City Is Charging The Least

Petrol, Diesel Prices Today: Check Which City Is Charging The Least

For the second day in a row on Wednesday, petrol and diesel prices were left unchanged despite a fall in global crude oil prices, according to Indian Oil Corporation (IOC). One litre of petrol was being sold in national capital New Delhi for Rs. 76.84, in Kolkata for 79.51, in Mumbai for Rs. 84.22, and in Chennai for Rs. 79.76.

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Two PDVSA's oil upgraders to be halted in coming weeks -sources

Two PDVSA's oil upgraders to be halted in coming weeks -sources

Two of Venezuela's four crude upgraders are scheduled to undergo previously delayed maintenance in the next few weeks, according to three sources close to the facilities, further reducing state-run PDVSA's exports of upgraded crude.

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Iran shall continue to supply oil to India: Abbas Araghchi

Iran shall continue to supply oil to India: Abbas Araghchi

Iran's deputy foreign minister Abbas Araghchi was in India to hold foreign office consultations. His visit assumed significance in the wake of US sanctions threatening to block oil supplies to India.

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ONGC board approves exiting Pawan Hans, to sell 49% stake

ONGC board approves exiting Pawan Hans, to sell 49% stake

The board of ONGC has approved exiting helicopter service provider Pawan Hans by selling its entire 49 per cent stake as it looks to cut debt and consolidate resources in core oil and gas business, officials with direct knowledge of the development said.

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Russia and Ukraine to hold further EU-mediated gas transit talks

Russia and Ukraine to hold further EU-mediated gas transit talks

Ukraine and Russia said they will hold further European Union-mediated talks on supplying Europe with Russian gas, in a key first step towards renewing Ukraine's gas transit contract that expires at the end of next year.

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Trump or Cheap Iran Oil: Dilemma Facing Fastest Growing User

Trump or Cheap Iran Oil: Dilemma Facing Fastest Growing User

The U.S. embargo on Iran oil shipments has put Prime Minister Narendra Modi in a quandary. If he plays along, India could find itself on the right side of President Donald Trump on trade but lose cheap supplies and precious foreign exchange.

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Nine more AC locals in Mumbai by next summer

Nine more AC locals in Mumbai by next summer

With nine more air-conditioned local trains expected to roll into the city by March 2019, Mumbaikars can expect a cool and comfortable journey to work next summer. The first of these nine will reach Mumbai by November this year.

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Here's why you may find it hard to travel to Amritsar by train

Here's why you may find it hard to travel to Amritsar by train

Several trains will remain cancelled and some will be short terminated or short originated due to electronic interlocking work at Amritsar station in the Ferozepur division of the Northern Railway (NR) from July 17 to 31.

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The Indian Railways Is Sitting On A Giant Trove of Your Travel Data. The Modi Govt Wants To Sell It, And Experts Are Worried

The Indian Railways Is Sitting On A Giant Trove of Your Travel Data. The Modi Govt Wants To Sell It, And Experts Are Worried

India's biggest e-commerce company is not Flipkart or Amazon, but IRCTC, the Indian Railways' ticket booking website. Twenty million people travel by train every day on average, and IRCTC sees some 60 million visits every month. That's around 2 million site visitors every day, and IRCTC issues 700,000 tickets on average each day.

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Delhi to Mumbai in 12 hours: NHAI plans to start work on expressway by March 2019

Delhi to Mumbai in 12 hours: NHAI plans to start work on expressway by March 2019

The Modi-government's next flagship infrastructure project, Delhi-Mumbai expressway, has taken the centre stage at National Highways Authority of India (NHAI) with officials gearing up to award the entire stretch by March 2019.

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Train journey to Amritsar derails as Railway plans infra revamp

Train journey to Amritsar derails as Railway plans infra revamp

Several trains will remain cancelled and some will be short terminated or short originated due to electronic interlocking work at Amritsar station in the Ferozepur division of the Northern Railway (NR) from July 17 to 31.

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Rail Watchdog warns Alstom-Siemens Mega-Merger could erase Competition

Rail Watchdog warns Alstom-Siemens Mega-Merger could erase Competition

A merger between Siemens and Alstom has come under fire from the Office for Rail and Road (ORR), which has warned it could cost “tens of millions of pounds” in reduced competition.

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Trader with Ahmedabad Metro scrap disposal contract arrested for fraudulently using Chip to under-weigh Scrap

Trader with Ahmedabad Metro scrap disposal contract arrested for fraudulently using Chip to under-weigh Scrap

A major Metro rail project scrap underselling racket run by using an electronic chip fitted in the weigh bridge was busted on Sunday by the officials of IL&FS Engineering Company.

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Jindal Stainless Limited consolidates its position, posts 2x jump in Q1 PAT

Jindal Stainless Limited consolidates its position, posts 2x jump in Q1 PAT

After registering a robust turnaround in FY18, Jindal Stainless Limited (JSL) achieved a strong revenue and sales growth in Q1FY19, despite being a seasonally low first quarter.

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Western Railway launches state-of-the-art Modern Automated Storage and Retrieval System at Lower Parel Workshop

Western Railway launches state-of-the-art Modern Automated Storage and Retrieval System at Lower Parel Workshop

Taking stock of the latest developments during his recent visit in Mumbai, Shri Ravindra Gupta, Member of Rolling Stock, Railway Board today inaugurated the Automated Storage and Retrieval System (ASRS) at Material Storage Depot of Carriage Repair Workshop

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Railways make Special Arrangements for Supply of Milk from Gujarat into Mumbai

Railways make Special Arrangements for Supply of Milk from Gujarat into Mumbai

As per the directives of Hon’ble Minister of Railways, Shri Piyush Goyal, Western Railway has made special arrangements for supply of milk into Mumbai from Gujarat. Milk being an essential commodity, and to counter the short supply due to the ongoing agitation called by the farmer’s organization, special provisions has been made to transport the same via railways into Mumbai. …

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'Poor construction material' led to Greater Noida buildings collapse; builder arrested, 3 bodies recovered

'Poor construction material' led to Greater Noida buildings collapse; builder arrested, 3 bodies recovered

An under-construction six-storey building collapsed onto a four-storey residential complex at Shah Beri village in Greater Noida, outside Delhi, on Tuesday evening, exposing the negligence of the authorities.

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