Even as the demand for electricity across the state touched a new high of 16,214MW on Monday amid rising temperatures, the state government had to buy 40 million units (MU) from the open market at Rs 6.14 per unit, the highest so far. This punctured the government’s claim of being a power-surplus state.
State-owned Power Finance Corporation (PFC) is planning to cut non-performing assets by 10 per cent or around Rs 1,500 crore this fiscal, as per an MoU inked with the power ministry.
India’s infrastructure growth slowed to a three-year low of 4.2 per cent in the fiscal year ending in March, indicating Prime Minister Narendra Modi faces a tough challenge to boost investment ahead of general elections due early next year.
India’s economy will grow 7.3% in the current financial year and gain pace to 7.5% next year as the “temporary drag” from demonetisation and the goods and services tax fades away, Fitch Ratings forecast.
The demonetisation of high value currency notes on November 8 last year has brought accountability to money, according to Minister of State (Independent Charge), Coal, Power, Renewable Energy, and Mines, Piyush Goyal.
Jeff Immelt, 61, who had served as the Chairman and CEO of the manufacturing giant GE since 2001, handed over the chief executive role to another company veteran John Flannery, but will continue as the Chairman till the end of this year.
“We win in markets, not conference rooms,” the message said. “Winning requires doing and not talking,” Jeff Immelt said in a letter to employees last week, which he also shared on LinkedIn.
Exclusive Opinion Piece : Has Saudi Arabia abandoned its role as a Swing Producer?, Asks Manish Vaid
Given its own economic conditions and plans for upcoming Saudi Aramco’s IPO next year Saudi Arabia cannot escape its role as swing producer, even though unwittingly.
The resilient U.S. shale output and sluggish demand from American drivers have kept U.S. stockpiles at historically high levels making efforts of OPEC and non-OPEC to cut oil production a futile exercise. These developments has forced experts to rethink about Saudi Arabia’s role as a ‘Swing Producer’ in rebalancing the oil markets. This article therefore explore the current oil market scenario alongside evaluating if actually Saudi Arabia has abandoned its role as a Swing Producer.
If India’s oil giants have their way, you could be paying different prices for diesel and petrol everyday. State-run oil companies are now planning to review rates of fuel on a daily basis to align them with international prices
The Jats called off the huge protest they had planned in Delhi and the National Capital Region from tomorrow after their leaders had a discussion with Haryana Chief Minister Manohar Lal Khattar.
At the vast open-plan headquarters of Indian telecoms start-up Jio, billionaire oil tycoon Mukesh Ambani stands in short sleeves beneath a digital tracker that logs every new subscriber to his service. The 59-year-old is India’s richest man, and his Reliance Industries oil & gas group is the country’s most profitable.