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December 17, 2018, Monday

Your Evening News Updates From Across The Media Space

Softbank's CEO Pledges To Give India And Other Solar Alliance Members Free Power In 25 Years

Softbank's CEO Pledges To Give India And Other Solar Alliance Members Free Power In 25 Years

In a move that is bound to get more countries to sign up for the International Solar Alliance (ISA), the CEO of Softbank, Masayoshi Son, has pledged to provide free solar energy to India and other members of alliance in 25 years. Son’s remarks came on 3 October at a renewable energy conference in India’s National Capital Region.

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Poewr

Pawan Singh is new MD & CEO of PTC India Financial Services

PTC India Financial Services (PFS), the non-banking financing arm of power trader PTC India, today announced the company’s board has appointed Pawan Singh as the new Managing Director and Chief Executive Officer (CEO) of the company with immediate effect for a period of five years.

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Essar Steel bidding: SC allows ArcelorMittal, Numetal to resubmit resolution plans

Essar Steel bidding: SC allows ArcelorMittal, Numetal to resubmit resolution plans

The Supreme Court on Thursday allowed ArcelorMittal and Numetal to submit revised resolution plans subject to clearance of outstanding dues within two weeks.

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Sacked IL&FS directors face questions on diversion of funds, negligence

Sacked IL&FS directors face questions on diversion of funds, negligence

Sacked directors of Infrastructure Leasing and Financial Services Ltd (IL&FS) will have to face questions on negligence, diversion of funds, failed risk management and misrepresentation of facts that are viewed seriously under the Companies Act.

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Azure Power closes Rs 600 crore financing for Bhadla solar power plant

Azure Power closes Rs 600 crore financing for Bhadla solar power plant

​The company had won the project through an auction conducted by Solar Energy Corporation of India (SECI). The plant will be set up at Bhadla solar park and is likely to be commissioned in 2019

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citibank

Citibank Warns of ‘wave of Project Bankruptcies’ in Wind, Solar

Citibank fears that there could be “a wave of bankruptcies” of wind and solar projects in about five years, consequent upon the low prices at which the energy companies will sell electricity.

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Centre Gives Rs 2.50 Per Litre Relief on Petrol, Diesel; Some States Announce Additional Rs 2.50 Cut

Centre Gives Rs 2.50 Per Litre Relief on Petrol, Diesel; Some States Announce Additional Rs 2.50 Cut

Government has announced a relief of Rs 2.50 on petrol and diesel to consumers at a time when the Brent crude has touched $86 per barrel and there is uncertainity in the international crude oil market.

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fuel price

Why the Government Delayed the Fuel Price Cut and What May Have Forced Its Hand

As petrol and diesel climbed to all-time highs, the central government finally reduced excise on fuel by Rs 2.50 and appealed to states to do the same. 

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fuel price

This is how the situation looks after Centre's cut in fuel prices

The excise cut on rising fuel prices comes as a respite. Finance Minister Arun Jaitley said that the Centre will would cut Rs 1.50 in excise duty on fuel while an additional Re 1 will be absorbed by the oil marketing companies (OMCs).

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oil prices

The Good, the Not-so-good and the Ugly in Govt’s Oil Tax Cut

In a commentary earlier this week (Why no tax relief on oil imports is Modi's smart move), we had argued that the government should not, despite bad headlines on oil prices, cut the Centre’s fuel taxes, and ask instead state governments to reduce their ad valorem taxes on petrol and diesel.

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Fuel Price

Fuel Price Hike: Oil Companies To Take $10 Bln Loan

The Government on Wednesday said oil marketing companies would borrow 10 billion dollars with a maturity of five years in a phased manner to check the steep rise in fuel prices in past few weeks.

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Oil

Oil Companies Get To Raise Foreign Currency Loan As Rupee Breaches 73-mark

With the rupee crashing to a record low of 73.77, plunging 43 paise from previous closing mark of 73.34, the Reserve Bank of India moved to improve dollar supply by allowing oil companies to raise foreign currency loans for their working capital requirements.

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Nitin Gadkari Blames Oil Imports For "Economic Crisis", Says Report

Nitin Gadkari Blames Oil Imports For "Economic Crisis", Says Report

India is facing an "economic crisis" due to its huge oil imports, Transport Minister Nitin Gadkari was quoted as saying on Thursday, ahead of a meeting of key ministers to discuss the falling rupee and the nation's widening trade deficit.

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L&T Hydrocarbon Engineering consortium wins largest oil & gas subsea project

L&T Hydrocarbon Engineering consortium wins largest oil & gas subsea project

L&T Hydrocarbon Engineering, a subsidiary of Larsen & Toubro, in consortium with Baker Hughes, a GE company and McDermott International, Inc. has been awarded the subsea contract for India's Oil Et Natural Gas Corporation's (ONGC) largest deepwater oil & gas project, the development of block DWN-98/2 in the Krishna Godavari basin.

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bullet train

Shinkansen Bullet Train Faced Opposition Even In Japan, Naysayers In India Too: Piyush Goyal

When the bullet train was conceptualised in Japan, it was opposed by many, Railway Minister Piyush Goyal said on Thursday amid growing opposition for the Mumbai-Ahmedabad Bullet train project over the high costs involved.

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Railway

Make In India: Railways To Pitch For Building Bullet Train Coaches Locally

Indian Railways is planning a ‘Make in India’ touch to the super-fast bullet train project connecting Mumbai with Ahmedabad, two officials familiar with the matter said.

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Indian Railways bear huge loss as passengers steal blankets, pillows, bedsheets, washroom fittings, other equipment from trains

Indian Railways bear huge loss as passengers steal blankets, pillows, bedsheets, washroom fittings, other equipment from trains

The Indian Railways has incurred huge loss over few last fiscals and thefts on trains are major contributors to the railways bleeding cash.

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#GoodNews: Night-Long Metro Services in Kolkata During Durga Puja

#GoodNews: Night-Long Metro Services in Kolkata During Durga Puja

The Metro Railway will run night-long services during Durga Puja — from Mahasaptami to Mahanavami — and extra services on days preceding the festival, its general manager P C Sharma said on Wednesday, 3 October.

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