The announcement came late Monday evening - and broke the internet. Elon Musk, the world's richest man, had bought microblogging site Twitter for a neat $44 billion. The little blue bird, which is known to take on many avatars depending on the mood, leanings and interests of who it is chirping for, went into overdrive. While some Twitter users flooded the site with memes and humorous takes on the move, the deal also had a fair share of critics.
The scrutiny started when it came to the government's notice that Shelf Drilling, a company that operates one third of ONGC's contracted jackup rig and earns a revenue of close to $220,000 a day, has China Merchant Group as its single largest shareholder.
Of the three major Budget announcements related to the banking sector, privatisation of PSBs is the most audacious, says Tamal Bandyopadhyay.
Government believes privatisation would increase the airline's efficiency and make it profitable, enriching the value of the remaining stake with it.
The Kalrock-Jalan consortium - new owners of Jet Airways - has got an assurance from around 30 airports that if the airline restarts operations, 170 pairs of slots can be made available. However, whether those slots will be according to the airline's demand will depend on the order of the insolvency court, which is slated to come next week. Sources said the new management feels it is extremely important that some of those slots are restored or else its business plan of operating Jet as a premium carrier will not be viable.
With better utilisation of slots, foreign flying rights, and greater international connections, the operator of India's largest airport feels a privatised Air India will bring commercial benefit to Delhi airport and help it revive quicker from the pandemic shock. Delhi is the largest hub for Air India, with most of its long-haul flights to the US and Europe being operated from here. The airport plans to give its most modern terminal 3 (T3) exclusively to the Tata Group.
While ODI captain Aaron Finch said the team backed Justin Langer "100%", reports of players being put off by the coach's "grumpy" temperament have continued to surface.
'Mr (Gautam) Adani invested in Vizhinjam port when no other viable party was willing to bid.' 'He has also been active in charitable work and CSR projects in our coastal areas.' 'As the local MP, I do not judge the local situation purely through the prism of politics.'
According to BJP strategists, PMJAY and the PM Ujjwala Yojana will form the nucleus of the Modi government's re-election campaign.
Gadkari said the NHAI was working on setting up an InvIT to monetise its projects for mobilising resources through capital markets.
'Whether it is the unions or the politicians, they don't have to do politics over Air India, but be guided by a solitary factor -- that we don't want Air India to fly into oblivion.'
Images from the English Premier League matches played on Saturday
Chinese telecom gear giant Huawei Technologies has sought permission for access to the government's 'Trusted Telecom Portal' which went live on June 15 so that it can share details about the telecom products which telecom service providers have agreed to buy from it. The move is significant as sources close to the development say that, according to Chinese telecom companies' interpretation, the new National Security Directive on the telecom sector does not in any way prohibit them from participating in the process of selling telecom equipment of any kind to private telcos. The firm is waiting for a response from the government. It declined to comment.
The airports chosen for operation, management and development through a public-private partnership model are those in Lucknow, Ahmedabad, Jaipur, Mangaluru, Thiruvananthapuram, and Guwahati.
Maybe Modi could ask a patriarch of the stature of the late G D Birla to flesh out the details of a new company to manage government land privatisation.
At a time when crude oil and natural gas prices are sky-high, public sector behemoth ONGC's haphazard planning and mismanagement in developing showpiece deep-sea KG-D5 block is costing the nation over Rs 18,000 crores due to the delayed output of oil and gas, government officials said. ONGC was originally to start gas production from the Cluster-II fields in block KG-DWN-98/2 (KG-D5) in June 2019 and the first oil was to flow in March 2020. But these targets were quietly shifted to end-2021 because of deferments in awarding the fragmented work packages of the project, two officials with direct knowledge of the matter said on condition of anonymity.
The change in ownership is necessary to conform to the government's foreign direct investment norms in aviation.
The government proposes to divest 76 per cent of Air India, along with its shareholding in Air India Express and its ground-handling subsidiary, AISATS.
Making a debut in India with an SUV, Citroen's products in the next couple of years will clearly chart and define its destiny in what has become both a vibrant but also a daunting market for foreign entrants, says Pavan Lall.
In the aviation sector, 100 per cent FDI is allowed under automatic route for MRO (maintenance, repair, overhaul), ground handling, and aircraft purchase.
China Construction forms consortium with Gurugram-based realty developer Tulip Infratech for road projects in India
On a seismic day in the history of Chelsea, Romelu Lukaku scored the winning goal in a 3-2 FA Cup fifth-round victory
What will it take for Tesla to plug and play in India? Sector pundits say it's a mix of strategy, getting the price right, timing, the right talent, and above all, patience.
NBFCs with a proven track record, supported by the brand values of reputed corporate, can play a key role in bringing the benefits of banking and economy to the underserved and newer segments of India.
The company plans to collaborate with stopover management consolidators, who will participate in the bids to develop food courts and rest areas along the highways. Such stopovers will house multiple restaurant brands, reports Avishek Rakshit.
According to the resolution plan, the airline is planning to start with six to seven aircraft on domestic routes and looking to restart international service within six months of resuming operations.
Two aborted missions, three different ministers, multiple rule changes and two decades later, Indian taxpayers will no longer have to pay Rs 20 crore per day to keep the loss-making Air India flying. While opposition Congress expectedly attacked the decision as selling the family silver, DIPAM secretary Tuhin Kanta Pandey said what Tata is getting is not a cash cow but an airline which is bleeding where money needs to be pumped in to refurbish obsolete aircraft and dust up strangled ones while being unable to touch any employee for one year and only be able to resize staff after paying a VRS. "It won't be a very easy task there. Only advantage is they (new Air India owner) are paying the price which they think they can manage. "They are not taking the excessive debt accumulated to fund years of losses. We are continuing it as an ongoing concern.... This process has also saved huge amount of taxpayers money going forward," Pandey told PTI.
Since the traditional Australian opener was cancelled in March, Formula One has agreed changes to help teams hard hit by COVID-19.
Sony's estimated profit on IPL over 10 years is 2,500 crore. Why didn't it fight tooth & nail to keep the rights?
Booked between 2007 and 2011, out of the total 32,700 residential units under various Jaypee Infratech (JIL) projects, at least 20,000 homes are yet to be delivered. Supreme Court documents show that, till last March, Jaypee had issued 7,997 offers of possession to homebuyers while executing only 6,530 sub-lease deeds. These deeds offer homebuyers possession rights but, unlike registration, does not guarantee absolute ownership.
Among executives who have been approached are former president and CEO of IndiGo Aditya Ghosh, Wolfgang Prock Schauer, current president and Chief Operating Officer at IndiGo and Sanjay Kumar, Chief Strategy and Revenue Officer of IndiGo.
The Tata group may have to deploy upwards of $1 billion to improve the airline's passenger reservation system, upgrade and refurbish Air India's fleet, primarily the wide-body aircraft which are the mainstay for the airline's international operations, people in the know said. While the group has not yet decided on how it intends to integrate Air India with its existing airlines AirAsia India and Vistara, sources said the first task will be to refinance Air India's existing loans, upgrade its aircraft gradually, and rewrite multiple business contracts with vendors and suppliers. "They will have to do 100 things to stabilise the airline and will have to put in a lot of money," DIPAM secretary Tuhin Kanta Pandey said, confirming that many aircraft are grounded.
'It is very clear that Air India cannot be managed by the government.' 'Air India should be run as a separate profit entity.'
To attract bidders, the government had decided to hive of around Rs 35,000 crore of the company's debt into a separate subsidiary, leaving around Rs 23,286 crore to be absorbed by the new bidder.
Access to India's defence market must be made conditional -- available only to those who are ready to make a long-term commitment in India, argues Ajai Shukla.
Even a rump Air India could not hope to get away with the shoddy service and scrappy fare for which I paid nearly two lakh, complains Sunanda K Datta-Ray.
Nobex, after running out of money last year, had filed for bankruptcy.
Instead of the minority stake they held earlier, now they have controlling stake in many firms
The case pertains to allegations that Lalu Prasad, as railway minister, handed over the maintenance of two hotels run by the IRCTC, a subsidiary of the Indian Railways, in Ranchi and Puri to Sujata Hotels, a company owned by Vinay and Vijay Kochhar, in return for a prime plot of three acres in Patna through a benami company.
Digital, cloud, engineering services, and cybersecurity will drive Wipro's growth. 'Based on approval from the board, we have decided to step up our investments significantly in these four big bets,' Premji said in his last address as executive chairman.
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