Indian companies will not be permitted to raise External Commercial Borrowings: RBI

The Reserve Bank of India, RBI, has decided that Indian companies will not be permitted to raise External Commercial Borrowings from overseas branches or subsidiaries of Indian banks for refinance or repayment of the Rupee loans raised from domestic banking system. In a notification, the RBI said th...

CPI(M) welcomes CBI probe into Saradha chit fund case

CPI(M) today welcomed the Supreme Court judgement on handing over the Saradha chit fund case to the CBI. The Party Politbureau, in a statement said, the probe should be able to uncover the political nexus behind this large-scale swindling of funds and money laundering. It demanded that all the asset...

AirAsia to fly; HC refuses to stay grant of licence to airline

The Delhi High Court today refused to stay grant of flying licence to new airline AirAsia India by aviation regulator DGCA. A bench of Chief Justice G Rohini and Justice Pradeep Nandrajog disposed of the application filed by Federation of Indian Airlines. The bench said that there is no urgency as t...

Jet's new Kozhikode – Dammam flights to aid expat Indians in Saudi Arabia

Jet Airways will launch a direct flight between Kozhikode to Dammam in Saudi Arabia. The new flight will be operational from 10th of next month. In a statement, Jet Airways said that Kozhikode will be the third destination in Kerala after Kochi and Thiruvanathapuram to have a daily direct service to...

BHEL commissions Gas Turbine Generating Unit in Oman

The Bharat Heavy Electricals Limited, BHEL has commissioned Gas Turbine Generating unit at a power project in Oman. The 126 MW Gas Turbine Generator at Qarn Alam-3 power project of Petroleum Development Oman is the second successive project of BHEL in Oman. It has earlier commissioned two units of 1...

Emirates upgrades to Airbus A-380 on Mumbai flight

SEBI exempts Etihad from making open offer in Jet deal

BHEL commissions Gas Turbine Generating Unit at power project in Oman

The Bharat Heavy Electricals Limited, BHEL has commissioned Gas Turbine Generating unit at a power project in Oman. The 126 MW Gas Turbine Generator at Qarn Alam-3 power project of Petroleum Development Oman is the second successive project of BHEL in Oman. It has earlier commissioned two units of 1...

Indian construction major wins $211mn road contract in Yemen

Indian construction major, Punj Llyod has won a 211 million dollar road contract in Yemen. The company has received a Letter of Award for the construction of a 42 km, 2x3 lane dual carriageway project between Doraigh and Noubat Dokaim from the Yemenese Ministry of Public Works and Highways. The proj...

SBI says, it will start special scheme for children shortly

Following the Reserve Bank's move to allow minors to open and operate accounts, the State Bank of India today said that it will start a special scheme for children shortly. SBI Chairperson Arundhati Bhattacharya told reporters in Mumbai today that the special scheme will be launched in the ...