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HindustanTimes Sun,21 Dec 2014

Business

Govt releases draft rules for e-auction of cancelled coal blocks

The government on Thursday released draft rules for e-auction of cancelled coal mines in an approach paper that is open for public consultation. The coal ministry has sought comments from stakeholders by Monday.

Kolkata-based public sector shipyard eyes foreign orders

A Kolkata-based public sector shipyard is trying to get a toehold in the international market, eyeing orders worth Rs. 2,600 crore to supply warships to the navies of the Philippines and Vietnam.

SpiceJet resumes operation, pays cash to buy jet fuel

Troubled airline SpiceJet resumed operations on Wednesday after being forced to cancel over 150 flights with oil marketing companies refusing to refuel its planes forcing the budget carrier to pay Rs 3 crore last evening to buy jet fuel.

Coal India workers threaten 5-day strike, stokes output worries

The labour unions of state-run Coal India Ltd have threatened to go on a five-day strike beginning January 6 to protest government plans to sell off a stake and end the company's monopoly in mining and distribution.

Rupee up 40 paise against dollar in early trade

After three sessions of weakness, the rupee strengthened by 40 paise to 63.21 against the dollar in early trade on Thursday at the Interbank Foreign Exchange on increased selling of the US currency by exporters and banks amidst higher opening in the domestic equity market.

Cabinet okays GST Bill; next stop Parliament

Plans to introduce India’s most ambitious reform initiative, the unified Goods and Services Tax, has entered the final leg, with the Cabinet on Wednesday approving a fresh Constitution Amendment Bill.

Co-founder Ajay Singh may be SpiceJet’s white knight

HT had first reported on August 7 that Singh was in talks to buy out promoter Kalanithi Maran’s stake in the airline. Singh has held meetings with senior aviation ministry officials over the last couple of days, sources said.

Fix upper, lower limit for airfares to aid bleeding airlines: ministry

With SpiceJet on the verge of a financial collapse, the aviation ministry has proposed a number of steps that should be taken immediately to help India’s bleeding airlines.

Nokia eyes sale of Chennai unit, asks govt to lift asset freeze

Finnish telecom company Nokia has requested the government to lift the asset freeze imposed by tax authorities on its manufacturing unit in Sriperumbudur near Chennai, so that it can explore potential opportunities for a sale.

RBI needs to clear money Sahara raises abroad: SC

The Supreme Court on Wednesday said the money arranged by Sahara Group overseas for the release of Subrata Roy would be transferred into local banks only after necessary clearances from the Reserve Bank of India.

ONGC awards 100 mn euro contract to Technip

State-owned Oil and Natural Gas Corp (ONGC) has awarded a Euro 100 million contract to French firm Technip to build an oil and gas terminal at Odalarevu in Andhra Pradesh.

Russia finance ministry selling reserves to support ruble

The Russian currency has come under heavy selling pressure this week, forcing the central bank to hike its key interest rate by 650 basis points, in an emergency move that did little to buttress the currency.

SpiceJet ‘grounded’ as oil companies refuse fuel; fares go north

SpiceJet -- which seems to be headed the Kingfisher way if it doesn’t get the funds it needs in a hurry -- ended up operating only 70 of its 239 daily flights on Wednesday. On Tuesday, only 35 flights had taken off.

Rupee, bonds continue to fall; foreign fund flows key

The rupee fell a 13-month low against the dollar on Wednesday while benchmark bond yields hit their highest level in two weeks as the brewing financial crisis in Russia continued to raise concerns about foreign fund outflows.

Sensex extends losses to 5th day; ends 71 points lower

The BSE benchmark Sensex regained most of the steep losses it suffered in early trade, but still ended the day 71 points lower at 26,710.13 after a highly volatile trade amid continuing investor worries over global economy.
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