VinFast starts construction in Tamil Nadu, pushes for import duty cut
The 14th RAHSTA Expo, part of the India Construction Festival, will be held on October 9 and 10, 2024, at the Jio Convention Centre in Mumbai. For more details, visit: https://rahstaexpo.com
India's crude oil imports rise 6.4% amid falling domestic production
India's reliance on imported crude oil intensified in August, with a notable increase of 6.4% compared to the same month the previous year. In contrast, domestic oil production decreased by 2.9%, as reported by the Petroleum Planning & Analysis Cell (PPAC) under the Ministry of Petroleum & Natural Gas. This trend highlights the growing pressures on India's energy security amid rising global oil prices. The report revealed that the total net import bill for oil and gas rose to $11.4 billion in August 2024, up from $9.0 billion in August 2023. The primary drivers of this increase were higher im..
Oil prices rise on US rate cut and geopolitical tensions
During early trade, oil prices experienced a slight increase, driven by concerns that the ongoing conflict in the Middle East might affect supply in this critical production area, along with expectations that the recent US interest rate cut would bolster demand. Brent crude futures for November rose by 20 cents, or 0.3%, reaching $74.69 a barrel at 0045 GMT. Similarly, U.S. crude futures for November climbed 22 cents, or 0.3%, to $71.22. Both contracts had gained in the previous session, supported by the U.S. interest rate cut and a decrease in US supply following Hurricane Francine. Oil pri..
NHAI awards TOT Bundle to Highway Trust for Rs 66 Bn
The National Highways Authority of India (NHAI) announced that it had awarded Toll, Operate and Transfer (TOT) Bundle 16 to Highway Infrastructure Trust for Rs 66.61 billion. The TOT Bundle 16 consists of a 251 km stretch along the Hyderabad-Nagpur corridor on NH-44 in Telangana, according to the Ministry of Road Transport and Highways. The concession period for the bundle is 20 years, during which the concessionaire is responsible for maintaining and operating the stretch. In return, the concessionaire will collect and retain user fees, in accordance with the National Highway Fee Rules. The ..