Held on the first day of Spring by the Chinese calendar, it began with a performance by dancers waving glowing green stalks to convey the vitality of the season, followed by an explosion of white and green fireworks that spelled the word "Spring".
Sequel to firm's announcement of cut in K-G gas reserves after long decline in output; agency says it expects decline in cash flows.
UK's Cairn Energy Plc plans to bring lawsuits in the US and other countries to pierce the corporate veil between the Indian government and its owned companies such as in oil and gas, shipping, airline and banking sectors, to seize their overseas assets to recover $1.2 billion ordered by an international arbitration tribunal. The firm has moved courts in the US, UK, Canada, France, Singapore, the Netherlands and three other countries to register the December 2020 arbitration tribunal ruling that overturned the Indian government's Rs 10,247 crore demand in back taxes and ordered New Delhi to return $1.2 billion in value of shares it had sold, dividends seized and tax refunds withheld to recover the tax demand. With the government so far refusing to honour the arbitration award and instead choosing to challenge it, Cairn is looking to enforce it by seizing overseas Indian assets, Dennis Hranitzky, head of the sovereign litigation practice at Quinn Emanuel Urquhart & Sullivan, a law firm representing the company, told PTI.
Regional States will be worried that the US's nascent engagement with the Taliban behind the fig leaf of humanitarian aid enables the return of US intelligence personnel to Afghanistan, observes Ambassador M K Bhadrakumar.
The government on Monday proposed income tax benefits for people making payments through credit or debit cards and doing away with transaction charges on purchase of petrol, gas and rail tickets with plastic money.
Govt looks to take cooking gas to tiger reserves, Naxal-hit areas
IIP is expected to post a subdued volume growth in February 2017
Working round-the-clock over the past few days, an Indian Institute of Science team is buildingan indigenous ventilator prototype for Covid-19 victims, and it is expected to be ready in the current month itself. A ventilator can be a life-saver for patients whose lungs are damaged by the Covid-19 infection. But India, like all countries grappling with this pandemic, is likely to face a large shortage of ventilators.
India's economy grew by 1.6 per cent in the fourth quarter of 2020-21, restricting the full-year contraction to 7.3 per cent, official data showed on Monday. The fourth quarter growth was better than the 0.5 per cent expansion in the previous October-December quarter of 2020-21. The gross domestic product (GDP) had expanded by 3 per cent in the corresponding January-March period of 2019-20, according to data released by the National Statistical Office (NSO).
Crude oil, fertiliser and cement recorded negative growth
The government has received three preliminary bids for buying of controlling stake in India's second-largest fuel retailer Bharat Petroleum Corporation Ltd (BPCL), Oil Minister Dharmendra Pradhan said on Wednesday. Mining-to-oil conglomerate Vedanta had on November 18 confirmed putting in an expression of interest (EoI) for buying the government's 52.98 per cent stake in BPCL. The other two bidders are said to be global funds, one of them being Apollo Global Management.
Prime Minister Narendra Modi on Thursday reviewed the impact of Covid-19 on the Indian economy and a possible second stimulus to boost sectors hit hard by the pandemic. Modi held discussions with Finance Minister Nirmala Sitharaman as the pandemic hit sectors from small industries to the aviation sector hard with millions of jobs at stake.
According to sources, Russian energy giant Rosneft or its affiliates, Saudi Aramco and Reliance Industries are in race for BPCL's three refineries - Mumbai, Kochi in Kerala and Bina in Madhya Pradesh - 16,309 petrol pumps, 6,113 LPG distributor agencies and more than a fifth of 256 aviation fuel stations in the country.
The warmest six years have all been since 2015, with 2016, 2019 and 2020 being the top three. The differences in average global temperatures among the three warmest years are indistinguishably small. The average global temperature in 2020 was about 14.9C, 1.2 ( 0.1) C above the pre-industrial (1850-1900) level.
Stating that the economic costs of shutdown of the global economy are accumulating rapidly, Moody's projected that all G-20 advanced economies would contract by 5.8 per cent in 2020.
Maharashtra Chief Minister Uddhav Thackeray announced a statewide curfew for 15 days from 8 am on April 14 to contain the rapid spread of the coronavirus in its second wave. With Section 144 being imposed across the state, Thackeray essential services have been exempted from the restrictions. The curfew will be in place till 7 am on May 1.
Markets regulator Sebi and the Directorate of Revenue Intelligence (DRI) are probing some Adani Group companies for alleged non-compliance with rules, the government told Lok Sabha on Monday. Minister of State for Finance Pankaj Chaudhary in a written reply to a question said accounts of three of the six Mauritius-based funds, that have invested most of their money in Adani Group firms, were frozen in 2016 over the issuance of Global Depository Receipt (GDR) by certain listed firms. No freeze was ordered for their holding in other firms.
Strengthening the portfolios of the home minister and the finance minister is a message that should not be missed, points out A K Bhattacharya.
The FIR by the ACB was registered a day after Chief Minister Arvind Kejriwal said the agency has been told to probe their alleged collusion over hike in prices of natural gas from KG basin.
While the Union Cabinet had in November last year approved the sale of the government's entire 52.98 per cent stake in BPCL, offers seeking expression of interest (EoI), or bids showing interest in buying its stake, were invited only on March 7. The EoI submission deadline was May 2, but on March 31 it was extended up to June 13. On Wednesday, the government said this deadline is further being extended up to July 31.
$10 billion TAPI pipeline unlikely before 2020
Post-cessation, activities related to the safe shutdown of the field are underway.
The government is keen to close the sale before March 31, 2021, to help meet a record Rs 2.1 lakh crore target which Finance Minister Nirmala Sitharaman has set from divestment proceeds in the Budget for 2020-21.
Saurabh Patel, energy minister, Gujarat, who has handled the energy portfolio since 2002, speaks to Archis Mohan on GPSC's investment in the KG basin and says the criticism is politically motivated.
Rating agency Crisil said on Friday that Asian spot LNG prices are expected to go up in the short term due to power generation disruptions in Japan.
To prevent rise in air pollution levels, oil marketing companies and thermal power units were planning to procure stubble from farmers to make bioethanol and promote the central government's 'Agricultural Mechanization' for crop residue management. But both have seen minimal success.
'Since I felt there could be more, I had told the local authorities to screen every hostage carefully, since we felt that some could have been staying as guests.'
The agency said the rating revision to stable with apositive outlook reflects continuing strong financial and operating performance.
In a significant development, the government may allow state gas utility GAIL India to charge a marketing margin on sale of APM or subsidised natural gas.
Prime Minister Modi appreciated the vision of Putin for the welfare for Russia's Far East, saying the Russian President has opened up investment opportunities for India in the region.
Finance Minister Nirmala Sitharaman presented her third Budget on February 1.
The athletes were unable to enter Australia due to government restrictions on foreign nationals travelling from China.
12 persons have so far been rescued from the sea. Nine sailors are still listed as missing.
The rating agency was hopeful that RIL would sort out technical problems being faced at its flagship eastern offshore KG-D6 fields where output has almost halved in past two years.
What happens to such a person's life insurance policy? Does the partner or beneficiary or assignee pay the premiums and continue the missing person's life policy in force?
Air Chief Marshal B S Dhanoa calling the FOC a 'major milestone'.
Union Home Minister Amit Shah on Monday reviewed the preparations for Cyclone Yaas including the evacuation of people on the high seas as well as in vulnerable coastal areas and the safety of COVID-19 facilities.
India's GDP is estimated to contract by a record 7.7 per cent during 2020-21 as the COVID-19 pandemic severely hit the key manufacturing and services segments, as per government projections released on Thursday. Amid overall decline in economic activities, some respite was provided by the agriculture sector and utility services like power and gas supply, which have been projected to post positive growth during the current fiscal ending March 2021.
PSU divestment, LIC IPO, fiscal deficit: Budget 2021 marks a clear change in the Modi government's stance from fiscal conservatism to growth orientation.
After going through more than 78,000 photographs from over 4,700 photographers, the expert judges of the World Press Photo contest have announced the finalists of the 2019 competition. The panelists have selected 43 photographers from 23 countries to represent the best in photojournalism.
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