Air India Express CEO Aloke Singh will be the chief of Air India's low-cost airline business from January 1 next year, according to an internal communication. The Low Cost Carrier (LCC) business will comprise AirAsia India and Air India Express. "The two constituent airlines will continue to have the full complement of regulatory post-holders until [...]
State-owned Bank of Maharashtra (BoM) on Thursday said it has raised Rs 880 crore through Basel III-compliant Additional Tier 1 (AT1) bonds. The issue, including green shoe option of Rs 680 crore, was subscribed more than four times against base size of Rs 200 crore, the bank said in a statement. The fund raised through [...]
Schneider Electric on Thursday said it plans to invest Rs 425 crore to develop a new smart factory in Bengaluru. "The new smart facility will consolidate 6 out of 10 existing factories of the company in Bengaluru, under one roof," Schneider Electric said in a statement. Under the plan, the new factory will be expanded [...]
Business Wire India TATA Projects Limited, one of India's fastest growing and most admired infrastructure companies yesterday inked a Memorandum of Understanding (MoU) with the Council of Scientific and Industrial Research – Indian Institute of Petroleum (CSIR – IIP) to collaborate and work together towards ensuring clean energy solutions. As part of this endeavor, clean [...]
With state-owned CIL not buying out of any coal blocks abroad at present, a Parliamentary panel on Thursday said the PSU can still pursue overseas acquisition of mines after detailed study and analysis of the blocks, especially low ash coking coal. The committee is of the view that this will not only reduce import of [...]
Equity benchmarks surrendered early gains to finish in the red for the third session on the trot on Thursday as hawkish comments from RBI and the Covid surge in China kept buying sentiment in check despite largely positive global market trends. After a gap-up opening, the 30-share BSE Sensex buckled under selling pressure as the [...]
The Department of Telecom (DoT) has formed four task forces to recommend to the government measures that will boost the domestic telecom manufacturing ecosystem and remove the bottlenecks, an official memorandum said The development follows a round table between Communications Minister Ashwini Vaishnaw and 42 chiefs of telecom gear makers early this month where he [...]
With an oil price shock threatening to derail economies globally, the focus has shifted to renewable energy with over USD 25 billion or Rs 2 lakh crore investment planned in India for using sunlight, water and air to produce energy. Oil and gas prices shooting through the roof in 2022 in the aftermath of Russia's [...]
Indian Oil Corporation (IOC), the nation's largest oil firm, has selected Reliance Jio's managed network services to connect a fifth of its petrol pump network. Jio will connect 7,200 IOC sites with SD-WAN managed service solution, zero-touch provisioning and 24x7 real-time monitoring, the firm said in a statement Thursday. "Jio wins IOC order for providing [...]
Tata Communications will acquire New York-based end-to-end live video production company The Switch Enterprises in an all-cash deal for Rs 486 crore, the company said on Thursday. With both companies coming together, Tata Communications will support The Switch customers with global reach to over 190 countries and territories and The Switch will bring live production [...]
