DUBAI // Scams, false claims and stories that do not bear out are causing concern among people who would otherwise be willing to do their zakat, or charity works, by helping beggars. One such ploy is where beggars appear at petrol stations, asking for money to help them continue their journey home. But if the Dh300,000 car was not enough of a mixed signal for Eric R, […]
NEW DELHI: Power plants in India are not importing coal despite global prices of the fuel slumping to decade-low levels. Power generating companies are rather operating at lower capacity on domestic coal that is short in supply, as distribution companies (discoms) are not willing to pay for costly power fuelled by imports.
A Mumbai-based trader, who did not wish to be identified, said global prices had fallen to a 10-year low due to weak demand from China that is reducing dependence on imports by encouraging production from own mines.
He said prices of 4,200 kcal/kg thermal coal in international markets were hovering around $36.50 per million tonne as against $52 per million tonne two years ago.
NEW DELHI: The subsidy burden for distribution utilities of 16 states is estimated at Rs 72,000 crore, 17% higher than the previous financial year, due to higher costs and cheaper tariff for the farm sector, said ICRA in a recent note. The note states that state electricity regulators in 16 out of the 29 states have issued tariff orders for the current fiscal so far, attributing the delay partly to the recently-held Lok Sabha elections.
The rating agency noted that subsidy dependence for utilities in Maharashtra is likely to increase sharply by about 55% on a year-on-year basis in FY15 as a result of tariff subsidy of 20% announced by the state government, and also for Jammu & Kashmir where the subsidy burden is projected to rise
ABU DHABI // Hundreds of tenants have been defrauded by bogus landlords and property agents who rent one home to several families and then disappear before the scam is uncovered. Police in Abu Dhabi have investigated 211 cases of property fraud in the past 15 months, 66 of them in the first three months of this year. One victim, Salwa, an Arab resident, paid a year’s rent […]
Commodity futures trading volumes in India fell 40.49 percent in the year to March 2014, its second straight year of decline, the market regulator said on Tuesday. In value terms, futures trading at commodity exchanges fell to 101.44 trillion rupees in the first twelve months from April 2013 from 170.46 trillion rupees a year ago, the Forward Markets Commission said in a statement on its website. Trading […]
|By Upendra Prasad| When Congress leaders had forced unwilling Kejriwal to form his government in Delhi, he said the Congress will have to repent its decision to allow him to become CM. It is clear now what he meant by saying it. In an unprecedented move, he has ordered institution of a case against present and former Petroleum Ministers as also Mukesh Ambani to manipulate and hike […]
