By Ashok B Sharma One might not have expected the Australian Prime Minister Tony Abbott to be so quick in responding to the hospitality he received in India last month. In fact the G20 summit slated in Brisbane middle of next month has given this opportunity. Abbott is preparing to lay the red carpet for the Indian Prime Minister Narendrabhai Damodardass Modi. Abbott’s special welcome is […]
Qatar will become the Middle East’s first hub for clearing transactions in the Chinese yuan, in a step that could over the long run help Gulf oil exporting countries reduce their dependence on the U.S. dollar. Industrial and Commercial Bank of China’s Doha branch has been appointed as the clearing bank for yuan deals in Qatar, China’s central bank said on Tuesday. “The signing of the MoU […]
NEW DELHI: The Finance Ministry has asked Reserve Bank of India (RBI) Governor Raghuram Rajan to provide greater flexibility to banks funding stalled infrastructure projects, after concerns were raised by senior bankers that some lending requirements were too ‘stringent’. A department of financial services communication to Rajan sought to de-link the extent of cost overruns as a condition for classifying any project as a restructured asset. […]
NEW DELHI: In an attempt to force local consumers such as power projects and fertilizer plants to finalize their purchase plans, state-owned gas supplier GAIL (India) Ltd is set to increase the domestic price of liquefied natural gas (LNG) by 10 cents per unit. Of the total 5.8 million tonnes (mt) of LNG it contracted with US suppliers, GAIL has found Indian buyers for only 2.5 […]
New Delhi: The attorney-general (A-G) has recommended cancellation of a proposed defence deal for the acquisition of eight minesweeper vessels, estimated to be worth about Rs 6,000 crore, from the South Korean Kangnam Corporation after allegations of involvement of middlemen, official sources in the ministry of defence (MoD) have confirmed. The MoD had sought the view of A-G Mukul Rohatgi in the matter. The government may […]
NEW DELHI: The Appellate Tribunal for Electricity (Aptel) delivered a technical knockout to 1,424 MW Adani Power over the weekend, quite similar to the one it delivered against 4,000 MW Coast Gujarat Power Limited (Tata Power) on September 15. The main case about giving compensatory tariffs to the two companies, however, continues in Aptel. Given the 18-month delay in the case already, a quick resolution is […]
Demonstrators protest outside a Labour gala dinner, which Ed Miliband attended Photo: Getty Images Professor Brian Cox has made explaining the inexplicable his life’s work. In recent episodes of his television series – Human Universe – the physicist has tramped from Ethiopia to Peru, via Morocco and Ohio, in an attempt to unravel the mysteries of the cosmos. He has asked whether we are alone in the galaxy, […]
By Harihar Swarup Can government ever find out black money deposited by Indians in foreign banks, particularly in Switzerland? Judging by records of the past governments, one wonders if Modi government can perform a feat—unearth back money stashed in foreign banks. Making election promises is one thing and fulfilling them is another thing. One of the main electoral promise of Narendra Modi was to unearth black money […]
India will launch an unmanned crew module in December onboard a heavy rocket to test its re-entry into the atmosphere for the country’s future maiden human space flight, the space agency chief said Thursday. “We will send an unmanned crew module on the experimental GSLV-Mark III rocket in December and test its re-entry into the earth’s atmosphere for a human space flight plan in future,” Indian […]
ERP platform….improve company’s overall performance Qapco teams with IBM and SAP to drive growth DOHA, 21 hours, 20 minutes ago Qatar Petrochemical Company (Qapco), a leading petrochemical powerhouse in the region and a pioneer in petrochemical production, has teamed up with IBM and SAP for the development and implementation of an innovative enterprise resource planning (ERP) platform that will improve the company’s overall performance. Dr Mohammed Yousef […]
New Delhi: In a bid to take advantage of the bullish stock market sentiment, the finance ministry has kicked off the exercise to cut government stake in public sector banks to 51% and enable them to raise fresh capital to meet their growth requirements. Sources told TOI that the ministry has moved a cabinet note as the government is keen that banks are well capitalized to meet […]
NEW DELHI: ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp, on Tuesday signed an agreement to pick an up to 50 per cent stake in PetroVietnam’s two exploration blocks in the South China Sea. OVL will take a 40 per cent stake in Block 102/10 and 50 per cent in 106/10 that lie outside the sea territory claimed by China. PetroVietnam, […]
Mumbai: In the first big boost to the government’s “Make in India” initiative, aimed at making India a manufacturing hub, Airbus Defence and Space and Tata Advanced Systems (TASL) on Tuesday announced a joint bid for a government contract to supply military aircraft for the Indian Air Force (IAF). The IAF is looking to replace its fleet of Avro aircraft and the joint venture will supply Airbus’ […]
NEW DELHI: To expedite infrastructure projects — road and rail — along the border with China for strategic reasons and also for better connectivity, principal secretary to Prime Minister has called a meeting of top officials of key ministries such as defence, rail and road, head of Border Roads Organization (BRO), national security adviser and others on Thursday. Sources said the agenda of the meeting to […]
By Raju Kumar BHOPAL: Chief Minister of Madhya Pradesh, Shivraj Singh Chauhan is over excited after the fourth Global Investors Summit organized at Indore. His excitement can be ascribed to two reasons. First, the Prime Minister came to join the Summit and he appreciated Mr Chauhan a lot for the development of the state. Second reason is the quantum of investment promised during the Summit which […]
By Amulya Ganguli Even as the secular – sorry, “sickular” – brigade is upset over the live telecast of RSS chief Mohan Bhagwat’s speech on Doordarshan, they seem to have missed a few tell-tale omissions in his address to the Hindu nation. For instance, there was no mention of the Ram temple or love jehad or conversions – issues that have agitated the saffronites for years […]
Nasser Al Sayer, chairman of NBK NBK to sell IBQ stake to Qatari investors for $538m KUWAIT, 1 days ago National Bank of Kuwait (NBK) has agreed to sell its 30 per cent stake in its Qatari associate, International Bank of Qatar (IBQ), to Qatari investors in a transaction worth $538 million (KD155 million), at a $87 million profit. Nasser Al Sayer, chairman, highlighted that this transaction […]
|TAP Special| The star-crossed Dubai Pearl project is in trouble again. Work on the project, which has a history of chronic fund shortages, missed deadlines and botched up designs, has been completely stalled and expectations of an early resumption of construction have been belied. In the wake of defaults of various nature, the structure faces the risk of even a second demolition, according to insiders. After the […]
Airlines like Emirates (pictured above) and Etihad are leading the expansion of the Arab world’s carriers. European Pressphoto Agency Airlines of the Arab world will carry double the number of passengers by 2026 as the region’s carriers, particularly those of the Persian Gulf, buy hundreds more planes and governments invest in airports on the ground. That’s according to the latest figures from the Beirut-based Arab Air Carriers […]
| By TAP Staff |With deadline fast approaching for Standard Chartered to exit part of its retail business, there is intense speculation over the likely suitor. Mashreqbank, one of the first names normally thrown up as a probable for such acquisitions, has ruled out any interest. The British bank is aiming to sell part of its business in the UAE after it agreed to close some accounts […]
By RUKMINI CALLIMACHI and KIMIKO DE FREYTAS-TAMURA September 13, 2014 The Islamic State in Iraq and Syria released a video Saturday of the third beheading of a foreign hostage, a British aid worker. The execution was a clear message to Britain, a vital ally of the United States as it builds an international coalition to target the militant group, which has made stunning advances across Syria and northern Iraq in recent months. […]
By Edwin Chan SAN FRANCISCO Wed Sep 3, 2014 12:21pm IST The Apple logo is pictured inside the newly opened Omotesando Apple store at a shopping district in Tokyo June 26, 2014. Picture taken June 26. Credit: Reuters/Yuya Shino/Files SAN FRANCISCO (Reuters) – The week before a crucial launch of its new iPhone, Apple Inc said intimate photos of celebrities including Oscar-winner Jennifer Lawrence were leaked online […]
SAUDI ARABIA. Saudi Arabia set out draft proposals on foreign-shareholder limits as one of the world’s most restricted stock markets prepares to open its doors for the first time to investors outside the region. The Capital Market Authority may cap foreign ownership of a single stock to 49 percent, it said in plans posted on the Riyadh-based regulator’s website today. It may also set a 5 percent […]
Saudi Arabia set out draft proposals on foreign-shareholder limits as one of the world’s most restricted stock markets prepares to open its doors for the first time to investors outside the region. The Capital Market Authority may cap foreign ownership of a single stock to 49 percent, it said in plans posted on the Riyadh-based regulator’s website today. It may also set a 5 percent limit for […]
