Engineering and construction major Larsen & Toubro has signed a memorandum of understanding with the US-based GE Hitachi Nuclear Energy, one of the largest nuclear power plant vendors in the world, for the construction of nuclear power plants in India.
Bechtel Enterprises and GE, the two US companies that hold stakes in Dabhol Power Company, have filed an arbitration action against the Government of India, seeking about $600 million each as against their investment of $120 million each in DPC.
The US economy is suffering its steepest downturn since at least the 1970s and could descend into a depression, Jeff Immelt, General Electric's chief executive, warned on Thursday.
The trouble-torn 2,184 MW Dabhol power project is all set to be restarted with General Electric, one of the major equity holders, slated to reach an agreement with Indian financial institutions by this month end.
IMAGES from the WPL match between Mumbai Indians and UP Warriorz in New Delhi on Thursday
GE Shipping, the country's largest private sector shipping company, is bringing down its exposure to the dry bulk segment to withstand the 93 per cent downfall in freight rate for such vessels.
In an attempt to restart the controversial Enron promoted Dabhol power project, the power ministry is holding high-level talks with minority partners, GE and Bechtel.
Micro-cap stocks are in the line of fire as market regulator Securities and Exchange Board of India (Sebi) is tightening its noose around investment in small-cap stocks. Given this, analysts suggest investors exit the segment, at least, for the time being. Independent market analyst, Ambareesh Baliga, for instance, said that regulators have gotten worried on the valuation front, though belated, which could prove to be the last straw on the camel's back.
The global giant, which recorded total revenue of 183 billion dollars in 2008, has presence in various verticals, including technology, energy infrastructure, transportation, aviation and enterprise solutions in India.
India is expected to overtake the US as the largest developer community on GitHub by 2027, Microsoft chairman and chief executive officer Satya Nadella said during his address to 1,100 developers and technology leaders at the Microsoft AI Tour in Bengaluru on Thursday. India is the fastest-growing market on GitHub, a Microsoft-owned software development platform, with 13.2 million developers using it.
President Mohamed Muizzu on Wednesday said by bolstering the defence capabilities of the Maldives, the country will soon reach a point where there is no 'foreign' military presence, weeks after he sought the withdrawal of Indian defence personnel from the archipelago nation.
Terming the Dabhol Power project a "bump in the road", GE, a major stakeholder in the project, on Monday said delayed resolution has not affected the company's investment plans in India and suggested that NTPC should be given responsibility to operat
Modi and Biden will have a one-on-one meeting in the Oval Office of the White House on Thursday before holding high-level talks.
A detailed assessment and internal inspection of the Dabhol power plant equipment by concerned parties including NTPC, GE India and Bechtel is necessary to ascertain the time frame for restarting it.
GE India managed revenues of $2.6 billion (about Rs 130 billion) in 2007 and is hopeful of meeting its target of $8 billion (about Rs 400 billion) by 2010. Key projects in the transportation and nuclear power sector are expected to help it reach that target, says Vice-Chairman John G Rice.
India also went on an overdrive in expanding its military engagement with like-minded countries in its neighbourhood and beyond in the face of China's relentless attempts to become a regional hegemon and establish its primacy in South Asia.
GE Capital International Services, a wholly-owned subsidiary of General Electric Company, USA, announced the launch of its latest IT-enabled services facility in Hyderabad on Wednesday.
Meanwhile, the US Bankruptcy Court late on Thursday has rejected Reliance Energy Ltd's bid to buy out the bankrupt Enron Corp's 65 per cent stake in the controversial Dabhol Power Company.\n\n\n\n
The proposed restarting of the Dabhol power project has received yet another setback with the promoter General Electric (which holds 10 per cent stake) setting a pre-condition of getting its dues cleared before the start of the project.\n\n\n\n
Air India will be saving $150 million over 15 years by mounting advanced General Electric engines GE90-115B on its 27 Boeing 777-300ERs aircraft.
Jeffrey R Immelt, global chairman of General Electric Company was in New Delhi on Thursday as part of his three-day visit to India
"The experience was incredibly enriching, significantly bolstering my confidence in our country's indigenous capabilities, and leaving me with a renewed sense of pride and optimism about our national potential," he said.
From upgraded portable ECG machines to digital X-ray units, the research lab does them all.
The freight rate for the very large crude carriers in the spot market has declined to an average $46,426 a day for the quarter ending December 31, about 21 per cent lower than the corresponding period of the previous year. In the same period, smaller crude carriers such as Suezmax rose by about 9 per cent to an average of $42,801 a day. Freight rate for Aframax, a carrier smaller than Suezmax, rose by 25 per cent to an average of $28,628 a day.
GE and Bechtel have put forward a three-pronged strategy to the Indian lenders, led by the Industrial Development Bank of India, to restart Phase I and complete Phase II of the $3 billion Dabhol project.
General Electric plans to set up a new manufacturing plant at a potential investment of up to $50 million in India, where it also intends to hire 3,000 people for its technology centre here, senior company officials said on Thursday.
The Quad summit to be hosted by India in 2024 is likely to enhance New Delhi's strategic intent.
India does not have the facilities needed for developing advanced aerospace products. There is only one wind tunnel in the country, the almost six decade old one in the National Aeronautics Laboratory.
The process to restart the 2184-MW Dabhol power plant has received a jolt with promoters, GE and Bechtel, slapping an arbitration notice on Maharashtra State Electricity Board for recovery of Rs 26,000 crore (Rs 260 billion) towards investments and l
The world's biggest industrial conglomerate General Electric is undeterred by a slowdown in the US economy as the group expects any weakness in the home market to be offset by fast growing sales in countries like India and China. Unfazed by the weakness triggered by the subprime credit crisis, Immelt said: "outside the US, particularly in China and India, economies appear strong. In the world as a whole, there is still a lot of liquidity."
The negotiations on cost and techno-commercial details relating to India's proposed procurement of 26 Rafale-M fighter jets and three Scorpene submarines from France are not yet concluded, sources said on Tuesday.
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