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Bhubaneswar
Saturday, November 25, 2017

Business

CCEA May Soon Decide On Mines Allocation For Commercial Mining

New Delhi(PTI): The Cabinet Committee on Economic Affairs (CCEA) may soon take a call on the methodology for allocation of coal mines for commercial mining, an official source said. "The CCEA may soon take a decision on methodology for coal block allocation for commercial mining," the source said on the condition of anonymity. A discussion paper on the modalities for allocation...

Moody’s Action Spruces Up India’s Investment Credentials

New Delhi(PTI): The sovereign rating upgrade by global agency Moody's has put India alongside Italy, Spain, Bulgaria and the Philippines in terms of investment climate. In effect, India has become the largest economy among Baa2-rated sovereigns, according to Moody's. The agency today upgraded India's sovereign credit rating by a notch to 'Baa2' with stable outlook after a gap of 13 years,...

Odisha Single Window Authority Approves Proposals Worth Rs 381 Crore

Bhubaneswar(PTI): Odisha government's State Level Single Window Clearance Authority (SLSWCA) today approved five proposals worth Rs 381 crore and recommended Vedanta s proposal to High Level Clearance Authority, for the expansion of its alumina refinery at Lanjigarh. The SLSWCA under chairmanship of Chief Secretary A P Padhi gave its nod to five projects including those received from Indian Oil Corporation...

Chief Minister Naveen Patnaik Dedicates 15 Industrial Projects With Estimated Cost Of Over Rs. 11,600 Crore

Bhubaneswar: In a bid to boost industrial development in Odisha, Chief Minister Naveen Patnaik today dedicated as many as 15 industrial projects across the state at an estimated cost of Rs 11.690 crore through video conferencing from the State Secretariat here today. The projects include Falcon Marine Exports Ltd, Paradeep Phosphates Limited, Ramco Cements Limited, JSW Cement Plant, Ekami...

IOCL To Organise Petrochemical Investors Conclave ‘Purvodaya’ In Odisha

Bhubaneswar: Indian Oil Corporation Ltd will organise a conclave here on next Thursday, with an objective to provide a platform for young investors to interact with business leaders in the petrochemical sector, government functionaries and financial institutions. Union Minister for Chemicals and Fertilisers Ananth Kumar and Union Oil Minister Dharmendra Pradhan are scheduled to address the conclave titled 'Purvodaya- The...

Tata Steel’s Mines Gets Aqua Foundation Excellence Award

Bhubaneswar(PTI): The OMQ (Ore, Mines & Quarries) Division and Ferro Alloys & Mineral Division (FAMD) of Tata Steel have been honoured with the Aqua Foundation's Excellence Award 2017 under the category of Sustainable Development in the Mining Sector. The award was presented at a ceremony held during an International conference, XI World Aqua Congress 2017 at New Delhi recently, a...

HCL Gets Nod For Joint Venture Company With MECL, NALCO

Kolkata(PTI): Hindustan Copper Limited (HCL) has obtained approval from its board of directors to form a joint venture company with Mineral Exploration Corporation Ltd (MECL) and NALCO Ltd. The JV would help in the formation of a joint working group, which would be empowered to deal with government-to-government (G2G) deals relating to sourcing of rare minerals. "We have got the board...

GST Rejig: Tax Rate On 178 Daily Items Reduced To 18% From 28%

Guwahati(PTI): In the biggest GST rejig yet, tax rates on over 200 items, ranging from chewing gum to chocolates, to beauty products, wigs and wrist watches, were today cut to provide relief to consumers and businesses amid economic slowdown. As many as 178 items of daily use were shifted from the top tax bracket of 28 per cent to 18...

Rupee Plunges To 1-Month Low Of 65.16, Dips 22 Paise

Mumbai(PTI): Reversing its two-session rise, the rupee today took a steep plunge of 22 paise to end at a fresh one-month low of 65.16 against the US dollar due to frantic demand for the American unit from importers and corporates. This is the lowest closing for the home currency since October 10. Imminent higher interest rate environment arising out of the...

Limited Space For Further Cut In Lending Rate: SBI Chief Rajnish Kumar

New Delhi(PTI): State Bank of India Chairman Rajnish Kumar today said that there is limited space for further easing of the lending rate. It seems so, he said in reply to a question if the rate cut cycle is over for now. "If you look at the bond yields, they have gone up in the recent past. So, I think the...

New Plate Mill Of RSP Operating Above Rated Capacity

Bhubaneswar(PTI): Rourkela Steel Plant (RSP) today said its New Plate Mill rolled out 80898 tonne of plates last month by utilising 105 per cent of its capacity, which is its best ever performance. Besides, the other units commissioned under Modernisation and Expansion also performed at or above their capacity in October 2017, a statement from RSP said. Blast Furnace - 5...

OMFED Goes Online, Products To Be Delivered At Doorstep In Odisha

Bhubaneswar: Good news for OMFED customers in Odisha as their favourite milk products will be now made delivered at their doorstep just at the click of the mouse. The OMFED has inked an MoU with e-commerce Grozip on October 31 for digital marketing of all OMFED products for home delivery to its large number of customers and especially for...

GST Hits Nepal’s Export To India: Report

Kathmandu(PTI): Nepal's export to India has been adversely affected after the enforcement of Goods and Services Tax as Nepali goods have become less competitive in the Indian market due to high duty in post-GST period, a media report said today. Trade of major export items to India, which were enjoying zero duty or nominal tariff earlier, has dropped significantly, the...

Onion, Tomato Price Rise A Seasonal Effect: Paswan

New Delhi(PTI): Consumer Affairs Minister Ram Vilas Paswan today termed the rise in onion and tomato prices as "seasonal factor", saying the situation will normalise in a week or so on improved supplies of the fresh crop. In the national capital, retail onion prices are ruling as high as Rs 51 per kg and those of tomato at Rs 80....