Thursday, June 21, 2018

What lies ahead for Air India? National carrier seeks Rs 2,200 crore equity infusion: Report

THE future course of action for beleaguered national carrier Air India seems uncertain after the NDA Government has decided not to go ahead with its decision to sell a 76 per cent stake in national carrier Air India. This decision was taken at a high-level convened by Finance Minister Arun Jaitley on June 18. The meeting was attended by Civil Aviation Minister Suresh Prabhu, Interim Finance Minister Piyush Goyal, Transport Minister Nitin Gadkari and senior officials. One factor shaping up the decision is understood to be the impending General Elections slated earlier next year.
Also since the government had not received...

Wednesday, June 20, 2018

NBCC to get sick PSU’s land parcels for housing projects by March: Report

NBCC hopes to get at least two land parcels of sick public sector undertakings (PSU) to start building housing projects thereon by the end of current financial year, said Chairman & Managing Director Anoop Kumar Mittal.
The The state-owned project management consultancy firm is currently working on four-five such land parcels and expects one project each in Delhi-National Capital Region (NCR) and either Hyderabad or Kolkata to be start by March.
“The land parcels we have been approached for are of sizes ranging from...

Tuesday, June 19, 2018

Fresh lease of life for Air India?

IN A fresh bis to revive Air India, Union minister Arun Jaitley along with his senior ministerial colleagues and officials on June 18 discussed the future course of action for debt-laden national carrier, weeks after its strategic disinvestment proposal failed to attract any bidders.
The meeting was attended by Piyush Goyal, who has been temporarily given the charge of finance ministry, civil aviation minister Suresh Prabhu, transport minister Nitin Gadkari and other senior officials.
The meeting, chaired by Jaitley by video-conference, took...

Monday, June 18, 2018

BBB recommends 22 GMs for elevation as executive directors at PSU banks: Report

THE advisory body formed by the government for selection of candidates for top level board appointment, Banks Board Bureau (BBB), has recommended 22 general managers to be elevated as executive directors at the various public sector banks.
This is the first major exercise undertaken by the BBB, headed by newly appointed chairman BP Sharma, former Secretary, Department of Personnel and Training. Sharma was appointed head of the panel in April after completion of two-year term...

Saturday, June 16, 2018

PSU BEL gets its first office in in Vietnam; Nirmala Sitharaman inaugurates it

DEFENCE Minister Nirmala Sitharaman on June 13 inaugurated the first office of leading defence PSU Bharat Electronics Limited (BEL) in Hanoi, reflecting India’s deepening military cooperation with strategically- important Vietnam. On the second day of her visit there, Sitharaman also held extensive talks with her Vietnamese counterpart General Ngo Xuan Lich in Hanoi during which both sides explored ways to further deepen military...

Friday, June 15, 2018

Govt may sell 100 per cent stake in Air India: Report

THE government may sell 100 per cent stake in debt-stressed Air India after it failed to receive even a single bidder in its first attempt of privatisation. Earlier, the Narendra Modi government wanted to offload 76 per cent stake, that experts believe turned out as a roadblock in the strategise disinvestment of the state-run national carrier. 
A national daily has reported that the government is considering revising the terms of sale for Air India after it failed to draw any response. The discussion of...

Thursday, June 14, 2018

PM to dedicate to nation SAIL's expanded steel plant at Bhilai today

PRIME Minister Narendra Modi will dedicate to the nation the modernised and expanded plant of state-run steel maker SAIL at Bhilai, today. Bhilai is Steel Authority of India Ltd's (SAIL) largest plant and major producer and supplier of rails for Indian Railways including 260 metre long rails. "Prime Minister of India Narendra Modi to dedicate SAIL's modernised and expanded Bhilai Steel Plant, Bhilai Chhattisgarh" to the nation on June 14, a SAIL official said.
This would be the third plant of SAIL which the prime minister...

Wednesday, June 13, 2018

HMT to sell 99 cents of land to Kinfra: Report

HMT Machine Tools, Kalamassery, has begun the process of selling 99 cents of land to Kinfra at the rate of Rs. 5.25 lakh per cent. The GM Bungalow which will also be sold has been priced at Rs. 11.5 lakh, a national daily quoted officials as saying.
The sale follows HMT Ltd selling three acres of land to the National Investigation Agency, with employees of the Kalamassery unit clamouring in vain for a share of the pie to the unit.
CM Bidar, general manager of the Kalamassery unit, told a meeting...