NEW DELHI: In a bid to ensure airfares don’t get completely out of reach for the common citizen and airlines don’t collapse, govt on Wednesday decided to set aside Rs 10,000 crore to cap aviation turbine fuel (ATF) or jet fuel prices and prevent them from sharp surges. This one-time budgetary support will be given…
MUMBAI: Interest in India remains undiminished despite near-term volatility, according to Vikram Sahu, India CEO and country executive at Bank of America.“Corporate interest remains strong and unchanged in its conviction,” Sahu said, adding that strategic investors continue to take a long-term view of India, drawn by its scale, growth prospects and governance framework.Investor sentiment is…
MUMBAI: The RBI rejected all bids for 182-day and 364-day treasury bills while accepting only 91-day bills at auction on Wednesday, signalling its discomfort with rising short-term yields ahead of the monetary policy decision due Friday.The RBI sold 91-day treasury bills at a yield of 5.56%. The central bank typically rejects bids when it finds…
MUMBAI: Markets regulator Sebi on Wednesday banned Rajesh Mehta, CMD of Rajesh Exports from dealing in the shares of the company till further orders. In its interim order, Sebi also directed Rajesh Exports to cooperate with the regulator’s investigating officer and forensic auditors to look into the books of the company.Sebi’s initial investigations showed that…
New Delhi: Coal gasification has so far saved Rs 28,000 crore in foreign exchange by reducing reliance on imported oil, methanol and ammonia, govt said recently as it prepares to launch the second phase of the programme.At a recent meeting with investors, coal ministry said the first phase of scheme, launched in 2023-24, had mobilised…
New Delhi: India’s target of achieving 500 GW of non-fossil fuel capacity by 2030 could generate more than 44 lakh full-time equivalent (FTE) jobs, with rooftop solar emerging as the single largest employment generator, accounting for nearly 43% of the total, according to a new study.The findings are significant as rooftop solar gains momentum across…
State-owned BHEL on Wednesday said the company has secured an order worth Rs 2,000-2,500 crore from a Nigerian entity. The contract agreement was signed with Nigeria’s Dangote Petroleum Refinery & Petrochemicals Free Zone Enterprise on June 2, according to a regulatory filing. The order pertains to design, manufacturing, supply and supervision of erection and commissioning…
The statistics ministry on Wednesday released a uniform framework for compiling district-level economic output estimates with the revised base year of 2022-23, a move aimed at improving consistency and comparability of economic data across states and Union Territories, PTI reported.The Ministry of Statistics and Programme Implementation (MoSPI) said the finalised Guideline for Compilation of District…
The rupee weakened for a second straight session on Wednesday, falling 40 paise to close at 95.76 against the US dollar amid concerns over proposed US tariffs, rising crude oil prices, persistent foreign fund outflows and escalating geopolitical tensions, PTI reported.Forex traders said investor sentiment came under pressure after the Office of the United States…
NEW DELHI: LPG sales in May declined by over 19% year-on-year, while petrol and diesel consumption grew 2.8% and 1%, respectively, govt data has revealed.Consumption of aviation fuel registered year-on-year decline of 0.8% in the month.Provisional data from Petroleum Planning and Analysis Cell showed that LPG sales fell to 2.1 million tonnes (MT) in May…
