As it sought more time to respond to the demands by the Income Tax department, the belaguered Kingfisher Airlines on January 22 told the Supreme Court that it was in negotiations with the investors for the revival of its grounded fleet, senior counsel Harish Salve, appearing for the airline, told a bench of justice DK Jain and justice Madan B Lokur. The airline sought four weeks' time.
Author: admin (Infratructure Today)
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Etihad may get into pact with Jet Airways
Abu Dhabi's Etihad Airways will finalise a deal to buy a stake in Jet Airways on January 25, according to a television report. If it materialised, it would become the first such investment by a foreign carrier in an airline in India since rules were relaxed last year. A deal may be announced as early as January 25 or by the first week of February, sources were quoted as revealed.
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Mining, quarrying sector contracts 5.5% in Nov
Output in the mining and quarrying sector declined 5.5 per cent during November 2012 as compared to the corresponding month of previous year, an official statement from Mines Ministry said. On a sequential basis, the output contracted 0.7 per cent in November 2012 to Rs 17,004 crore in value terms, mainly on account of less output of iron ore, natural gas and
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Brokerages expect iron ore price to fall
In its recent report, Bank of America Corp said it expects the global price of iron ore to decline to $110 a tonne by the end of 2013 from $140 a tonne in the first quarter because of supply glut in the market. Bank of America feels that the recent price rally is not sustainable and the price should come off in the second half of the year as more supply begins to come on li
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New technologies to raise efficiency of rolling mills
Umesh Chandra, Director (Operations) of the Visakhapatnam steel plant stressed on the need to adopt modern technologies for the improved performance of rolling mills. The operational efficiency of the steel plants relies on the improved performance of rolling mills, Chandra said at the forty-sixth meeting of the Rolling Mill Oper
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Apex court to hear PIL against export of ore
On February 15, the Supreme Court would conduct another hearing on the public interest litigation filed by an NGO Goa Foundation alleging the state government of allowing export of iron ore without verifying the correctness of the statement made by the exporter. In its recent hearing, the apex court issued notices to the centre and the Goa government on a plea. The NGO argues that the state government violated the orde
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Tata Steel hopes to get temporary work permit soon
Tata Steel hopes to get the temporary working permit soon to resume mining at the chromite mine in Sukinda, Odisha. The company had to halt mining at the mine as its lease validity, which was valid for 20 years, expired on January 11. The mine has the capacity to produce 2.4 millio
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OMCs seek norms for bulk diesel users
Reports indicate that oil marketing companies (OMCs) want the government to introduce regulation that would prevent stop bulk diesel users from securing the fuel from retail outlets. Bulk quantities of diesel are sold directly from the depots of OMCs. OMCs want to prevent bulk users of diesel from buying the fuel from retail outlets because the gove
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Govt subsidy may rise under pricing formula of panel
According to some estimate, government will have to bear an additional subsidy burden of Rs 28,800 crore if it implements the Rangarajan committee formula for pricing natural gas. The committee, set up under Prime Minister's Economic Advisory Council Chairman Rangarajan, suggested a price formula which is the mean of the prod
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Cairn India aims 215,000 bopd output in FY14
Cairn India aims to produce 215,000 barrel of oil per day (bopd) during 2013-14 from its Rajasthan block. This is based on the company managementĆās guidance and the expectation that the Bhagyam field would produce 40,000 bopd only by the second half of 2013