Page 96 - India

CIL hikes non-coking coal prices by 8%; expects Rs 2,703 crore revenue

Coal India Ltd (CIL) on Tuesday said it has increased prices of non-coking coal by 8 per cent. The prices will come into effect from Wednesday, the miner said in a regulatory filing. "The Board has approved a price increase of 8 per cent over the existing notified prices for high-grade coal of grade G2 to G10. This will be applicable to all subsidiaries, including NEC, for regulated and non-regulated sectors," CIL said. The board of directors of the company approved the revision in the prices of non-coking coal with effect from 00:00 hours of May 31, 2023, it said. Following this revision, CIL is expecting to earn incremental revenue of Rs 2,703 crore for the balance period of the financial year 2023-24. Thermal coal is a non-coking coal used by power plants to generate electricity. A rise in its prices impacts the power generation cost. Coal India, under the Ministry of Coal, is the largest coal producer in India. As per official data, in April 2022, the country's overall coal

India moving from women's participation to their leadership: Jitendra Singh

Union Minister of State for Personnel Jitendra Singh on Tuesday felicitated the top 20 rank holders of the civil services examination, the majority of them being women, here and said the country is moving from women participation to women leadership. In his welcome address, he described the 2022 batch of civil servants as the "Batch of Change Leaders", as they will be in key positions of governance when India will celebrate 100 years of Independence after 25 years as one of the frontline countries of the world. Singh said, the first four toppers and 60 per cent out of the top 20 happen to be women and this is a great reflection of demographic change happening in the last nine years of Prime Minister Narendra Modi's government, where India is moving from women participation to women leadership, according to an official statement. The top 20 candidates comprise 12 female and 8 male candidates, it said. He recalled that last year also the top three toppers were women and hoped that ..

Nepal's PM to visit Mahakaleshwar Temple, Indore IT SEZ during India tour

Nepal's Prime Minister Pushpakamal Dahal Prachand will visit the renowned Mahakaleshwar Temple in Ujjain and also an IT Special Economic Zone (SEZ) in Indore in Madhya Pradesh during his India trip beginning on Wednesday, official sources said on Tuesday. Prachanda, along with a high-level delegation, will travel to India on Wednesday on a four-day official visit for talks with his Indian counterpart Narendra Modi and other leaders to further strengthen the age-old, multifaceted and cordial bilateral ties. After official engagements in New Delhi, he will arrive in Indore on June 2 and travel to neighbouring Ujjain district where he will offer prayers at the famous Mahakaleshwar Temple, one of the 12 jyotirlings (major places of worship of Lord Shiva) in the country, the sources said. He will also visit a solid waste management plant in Indore the same day, they said. On June 3, the Nepalese PM will visit TCS and Infosys campuses in an IT SEZ in Indore and leave for New Delhi ...

India extends $1 billion credit line to Sri Lanka by another year

India on Tuesday extended its USD 1 billion credit line to Sri Lanka by another year to help the island nation hit hard by an unprecedented economic crisis procure much-needed food, medicine and other essential items. An agreement was signed between the State Bank of India (SBI) and the Sri Lankan government for USD 1 billion credit facility in March last year. India extended the credit line to Sri Lanka at the height of the country's economic crisis. "India reaffirms its commitment to the people of Sri Lanka. The Amendment Agreement signed in presence of Hon.Minister @ShehanSema today will enable Sri Lanka to use the USD 1 billion Indian credit facility for the procurement of medicine, food, and other essentials for one more year," the Indian High Commission in Sri Lanka tweeted. "Beyond the original duration, that is, till March 2024. The facility was extended by India through @TheOfficialSBI in response to a specific request from GOSL and forms a part of the multi-pronged ...

ADB launches country partnership strategy for climate-resilient growth

It will focus on accelerating structural transformation and job creation, promoting climate-resilient growth, and deepening social and economic inclusiveness, during its partnership period 2023-2027

Structural reforms to be sustained to improve India's growth potential: RBI

Monetary policy remains focused on withdrawal of accommodation to ensure that inflation progressively aligns with the target, while supporting growth, the central bank said

India deservedly claiming its position on world tourism stage: Chhatwal

Indian travel and tourism is at an important inflection point and the country is deservedly claiming its position on the world tourism stage with its presidency of the G20 providing the perfect platform, according to Indian Hotels Company Ltd Managing Director and CEO Puneet Chhatwal. In his address to shareholders in the company's annual report for 2022-23, Chhatwal said India is on a growth path and the services sector including the travel and tourism business is emerging as a major growth engine for the Indian economy, having successfully put the pandemic behind. "People are once again flying in great numbers, airports are crowded, hotels are well booked, and travellers want to explore, connect and feel alive through the exhilarating emotion of travel," he wrote. Chhatwal said India is deservedly claiming its position on the world tourism stage. "With India's Presidency of the G20, we are positioned like never before to showcase our nation's cultural heritage, our unique and ...

Misfiring of BrahMos missile into Pak cost India Rs 24 cr: Centre tells HC

The Centre also defended the termination order of IAF officers, claiming that the decision was motivated by public interest and not malice

Checkmate for Chinese firms in India's growing reinsurance market

The insurance business, by its nature, collects enormous data about Indians and is regarded as an economically sensitive sector

FDI equity inflows dip 22% to $46 billion in 2022-23, shows DPIIT data

Foreign direct investment (FDI) into India declined by 22 per cent to USD 46 billion in 2022-23, dragged by lower inflows in computer hardware and software, and automobile industry, according to the Department for Promotion of Industry and Internal Trade (DPIIT) data. The FDI inflows stood at USD 58.77 billion during 2021-22. Total FDI inflows, which include equity inflows, re-invested earnings and other capital, declined by 16 per cent to USD 70.97 billion in the last fiscal as against USD 84.83 billion in 2021-22. During April-March 2022-23, Singapore emerged as the top investor with USD 17.2 billion FDI. It was followed by Mauritius (USD 6.13 billion), the US (USD 6 billion), the UAE (USD 3.35 billion), the Netherlands (USD 2.5 billion), Japan (USD 1.8 billion), UK (USD 1.73 billion), Cyprus (USD 1.27 billion), Cayman island (USD 772 million), and Germany (USD 547 million), the data showed. The FDI inflows have contracted in 2022-23 from Mauritius, the US, the Netherlands, the

SBI raises $750 mn via bonds on India INX under its $10 bn MTN programme

SBI, the country's largest public sector lender, on Monday raised USD 750 million under its USD 10 billion Global Medium Note programme to fund its overseas business growth. The fund was raised at INX's Global Securities Market (GSM), GIFT International Financial Services Centre (IFSC) at Gandhinagar from global investors. The bonds were issued through SBI's London Branch to fund offshore business growth and were priced competitively. This demonstrates strong investor confidence in the country's largest bank and paves the way for a strong pipeline of foreign currency bond issuances this year, it said. Commenting on the listing, SBI chairman Dinesh Khara said the success of the issue highlights the strong investor base SBI has created for itself in the offshore capital markets. The issuance received huge participation from several marquee accounts across geographies resulting in the largest spread compression amongst all USD Indian bond issuances during the current year, it said.

India emerges as key source country for FDI into Dubai, says report

India has emerged as a key source country for Foreign Direct Investment (FDI) in Dubai, one of the wealthiest of the seven emirates in the United Arab Emirates, according to a report released on Monday. It ranked among the top five source countries for announced FDI projects and estimated FDI capital, according to a report released by "fDi Markets', a service from UK's Financial Times Ltd. With 77.5 per cent of greenfield projects, the top sectors by FDI projects from India into Dubai in 2022 were software & IT services (32 per cent), business services (19 per cent), consumer products (9 per cent), real estate (6 per cent), and financial services (5 per cent). Meanwhile, the top sectors by FDI capital from India into Dubai in 2022 were consumer products (28 per cent), software & IT services (20 per cent), communications (19 per cent), pharmaceuticals (8 per cent), and business services (8 per cent). Apart from maintaining its first rank as a destination city for FDI from ...

BGMI video game is now available for play in India, announces Krafton

South Korean video game developer Krafton on Monday announced that the video game Battlegrounds Mobile India (BGMI) is now available for play in India

WEF prez pitches for win-win thinking amid increased polarisation globally

Calling for "win-win thinking" amid increased polarisation and fragmentation globally, World Economic Forum (WEF) President Borge Brende has said that hopefully, India's G20 Presidency will help get leaders to discuss collaborating on fighting climate change and rules around new technologies. WEF, headquartered in Geneva, is an international organisation for public-private cooperation and has collaborations with India. In an interview with PTI in the national capital, Brende sounded "cautiously optimistic" about finding and developing a floor when it comes to an agreement between the big countries and the world on traffic rules and collaboration. "We will have some derisking, friend shoring, and nearshoring not just in time but also when it comes to global value chains. I hope that 90 per cent of the trade we have today will also continue in the future," he said. India is holding the G20 Presidency this year and also at a time when geopolitical tensions, including the Russia-Ukrain

New Parliament building reflects aspirations of new India: PM Modi

New Parliament building to herald rise of developed India, will inspire world, says PM Modi

India play out 1-1 draw against Pakistan in Men's Junior Asia Cup hockey

India played out a thrilling 1-1 draw against arch-rivals Pakistan in their third Pool A game to continue their unbeaten run in the men's Junior Asia Cup hockey tournament in Salalah here. Sharda Nand Tiwari (24th minute) gave India the lead in the high-stake match on late Saturday night but it was nullified by Basharat Ali in the 44th minute. The result means India, with seven points from three matches, stays second in Pool A behind Pakistan (same points) but are ahead on goal difference. Japan, who beat Chinese Taipei 10-1 earlier on Saturday, are third with six points from three outings. India had earlier thrashed Chinese Taipei 18-0 before beating Japan 3-1 in their second match. On Saturday night, the Indians went on the offensive from the word go and kept Pakistan defence under pressure with repeated forays. India won a couple of penalty corners early in the game but couldn't capitalise on them. Pakistan, on the other hand, also managed to create a few chances and even cam

Delayed hydropower projects push up costs by over Rs 30,000 crore

A typical project is delayed by years after they first seek to begin work

India logs 425 new Covid-19 cases, active infection tally down at 5,259

India saw a single day rise of 425 new coronavirus infections, while the number of active cases has decreased to 5,259, according to the Union Health Ministry data updated on Saturday. The death toll has increased to 5,31,859 with three fatalities, which includes one death reconciled by Kerala, the data updated at 8 am stated. The COVID-19 case tally was recorded at 4.49 crore. The active cases now comprise 0.01 per cent of the total infections, while the national COVID-19 recovery rate has been recorded at 98.80 per cent, according to the Health Ministry website. The number of people who have recuperated from the disease rose to 4,44,52,223 while the case fatality rate was recorded at 1.18 per cent. According to the ministry's website, 220.66 crore doses of Covid vaccine have been administered in the country so far under the nationwide vaccination drive.

Incredible rich diaspora truly an asset to both countries: Biden's top aide

The "incredibly rich" diaspora is truly an asset to both India and the United States, Neera Tanden, a top Indian-American aide to President Joe Biden has said as the White House prepares to host Prime Minister Narendra Modi for an Official State Visit next month. Indian Americans, who constitute about one per cent of the US population, and are said to be having the highest per capita income among various ethnic groups in the US, over the years have played a key role in strengthening the India-US relationship, a fact that has been acknowledged at the highest level, including by President Biden. One thing that is truly an asset to both countries is the incredibly rich diaspora here in the United States. I have been engaged with organisations that have really focused on the diaspora in the United States, and the rich connections between Indian Americans, Indians who've been born here, who are first generation, second generation, and their families in India. This is a major asset to the

Nepal Prime Minister Prachanda to visit India from May 31 to June 3

Nepal Prime Minister Pushpa Kamal Dahal "Prachanda" will embark on a four-day official visit to India from May 31 at the invitation of his Indian counterpart Narendra Modi, Foreign Ministry sources said here on Friday. This will be Prachanda's first foreign visit after assuming the high office for the third time in December last year. Foreign Ministry sources here said the visit will take place from May 31 to June 3 and the Ministry will make a formal announcement on Saturday. The foreign ministry will make a formal announcement of Prime Minister Pushpa Kamal Dahal Prachanda's official visit to India on Saturday. The visit will take place from May 31 to June 3 and he will hold high-profile meetings, including with Prime Minister Narendra Modi, on bilateral ties," the official, who is an aide to Foreign Minister N P Saud, said. "The preparations for the visit have reached its final stage. Foreign Minister Saud last week held consultations with former foreign ministers and foreign ..