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Wednesday, January 17, 2018

IBC ordinance may throw spanner in JSW’s Jaypee deal JSW Group’s interest in acquiring a stake in Jaypee Associates to bid for Jaypee Infratech is likely to take...

JSW Group which has businesses ranging from steel to cement to infrastructure has shown “in-principle interest” in acquiring a stake in Jaypee Associates to bid for debt-ridden Jaypee Infratech. However, with the ordinance spelling out who cannot be a resolution applicant, the deal may not materialise. Read More: JSW Group to invest Rs 7,000-cr more in ports sector over next...

Coal India to raise executive salaries at a cost of Rs 800 crore Coal India Ltd, the world’s largest coal miner, will pay its executives about Rs 800...

he pay increase, which was approved by the board last week, comes over a month after the company approved a rise in the salaries of its workers, costing 56 billion rupees over five years. The company employs more than 300,000 people, about 18,000 of whom are executives. Info-economictimes Original Source

AAI, ASSOMET & AMAFOND of Italy signs MoU for investing in a JV project in Aluminium Park in Odisha Aluminium Association of India (AAI) and aluminium association ASSOMET...

The park is being developed by state owned National Aluminium Company Limited (Nalco) and Odisha Industrial Infrastructure Development Corporation (IDCO). The MoU is scheduled to be signed during the next visit of the Italian Industry delegation in January 2018. While no other details of the project were announced, a statement issued by Nalco said the Consul General of Italy,...

CPPIB to buy 15 per cent in ReNew Power CPP Investment Board is acquiring a 14-15% stake in Sumant Sinha-led ReNew Power Ventures for $350 million (Rs 2,250...

PPIB is acquiring the stake in two transactions, it said in a filing. It has made a primary investment of about $200 million through compulsorily convertible preference shares. Read More: Jump in renewable energy jobs worldwide: International Renewable Energy Agency These will be converted into equity whenever ReNew goes for an initial public offering. The amount of stake involved in this deal...

HC restrains authorities from inaugurating new bridge The Madras High Court today restrained authorities from inaugurating a new bridge at Thanjavur which had allegedly developed cracks.

The court was hearing a petition seeking steps to strengthen the structure before it was thrown open to traffic.The Railway over Bridge (RoB) was to be inaugurated by Chief Minister K Palaniswami tomorrow. Read More: Railways eye Rs 26k cr savings in energy costs over 10 A bench of Chief Justice Indira Banerjee and Justice N Nisha Banu in its...

Global firms line up for India’s largest convention centre; Rs 26,000-cr project Nearly 15 global players including Samsung Construction and China Construction are competing with home-grown companies such...

The government has invited the request for proposal by December 8 under the engineering, procurement and construction (EPC) mode after the Rs 26,000 crore International Convention and Expo Centre (IICC) project received the Union cabinet’s nod earlier this month. Read More: Dilip Buildcon bags Rs 700-cr EPC orders from Transport Ministry The Department of Industrial Policy and Promotion (DIPP) held a...

Indian steel firms can meet railways’ needs – government panel Indian steel companies can meet the needs of the country’s railways and local rail market entrants such as...

Jindal Steel told the committee this month it could supply up to 600,000 tonnes of rails per year to Indian Railways, which recently floated a global tender for 717,000 tonnes of rails. Read More: Jindal stainless, 2 others to invest Rs 1,640 crore in three parks in Odisha The committee on domestically manufactured iron and steel products for government projects is...

Adani may not receive 900 million dollars government loan Indian energy giant Adani’s controversy-hit Carmichael coal mine project in Australia may not receive a 900 million dollar loan...

The 16.5 billion dollar Carmichael coal mine project, one of the world’s largest, will start construction after being given the green light by the federal and Queensland state governments. Read More: Adani gives final nod for $4 billion Australia’s Carmichael coal mine project The Adani group had applied for Northern Australia Infrastructure facility loan (NAIF) worth 900 million dollars for building...

Coal ministry invites candidates for Coal India chairman’s post The coal ministry which has formed a search committee for finding a chairman for Coal India has finally invited...

The development comes nearly six months after Public Enterprise Selection Board informed the government that it could not find anyone suitable for the position after interviewing six candidates in June this year. Read More: Coal India to divert coal movement to fight critical stock in power plants Full time chairman of Coal India, Sutirtha Bhattacharya retired on August 31 following which...

EXCON 2017 to position India as Global Hub for Construction Equipment Manufacturing

Anand Sundaresan, Member, EXCON 2017 Steering Committee and Vice Chairman & Managing Director, Schwing Stetter India Pvt. Ltd. EXCON is South Asia’s largest construction equipment and construction technology exhibition. This year marks its 9th edition and is taking place in Bengaluru from 12-16 December 2017. Organized by the Confederation of Indian Industry (CII), the event will witness over 1000 exhibitors,...

Cryptocurrency Price Predictions 2018: Ripple Is the Clear Winner

flickr.com/NamecoinCryptocurrencies Offer Insane Returns Investors looking for cryptocurrency price forecasts are about to have an embarrassment of riches, because everyone and their uncle is shouting...

Ripple Price Predictions 2017: XRP Price Could Cross $1 Mark by End of Year

pixabay.com/geraltDespite Volatility, Ripple Prices Might Be Headed Higher The Ripple market cap has grown +3,500% this year, yet our Ripple price predictions for 2017 suggest...

IOTA Price Prediction 2018: This Little-Known Cryptocurrency Could Record Four-Digit Returns

Banks were the first target of blockchain, because they sit in the middle of every transaction, taking a few cents from every dollar that...