CIL’s tender for coal import elicits single bid from MMTC

CIL’s tender for coal import elicits single bid from MMTCState-run miner Coal India Ltd's (CIL's) tender for coal import contract, which was floated at the start of this year, has received a single bid from MMTC.

Requesting anonymity, an official from the miner said the single bid received from MMTC for importing coal from foreign markets to meet supply agreements with power plants was under evaluation.

However, the official declined to comment on the proposed quantity of coal imports for the current financial year. The miner aims to finalise the bid by next month.

Chennai Airport suffers one more glass panel crash

Chennai Airport suffers one more glass panel crashChennai Airport on Sunday witnessed falling and shattering of a massive glass panel, which sent a wave of shock and panic among bystanders.

A glass panel measuring 6 feet by 3 feet, which was a part of the exterior facade of a new terminal at the airport, fell from a height of nearly 30 feet above the first floor and crashed all the way down to the ground floor, splintering pieces of glass every where.

Many passengers were entering the departure hall, while a family was sitting nearby; but fortunately, no one got injured in the accident.

Odisha Govt. has no objection to Khandadhar mines’ allocation to Posco

Odisha Govt. has no objection to Khandadhar mines’ allocation to PoscoOdisha's Naveen Patnaik-led government has no objection to the allocation of the Khandadhar iron ore mines to South Korea's steel producer Posco, a senior official of the state government said.

The Khandadhar iron ore mines in Sundargarh to Posco-India in 2009 for its proposed 8-million-tonne steel plant in Jagatsinghpur district of the state. But, the state's High Court later annulled the allocation, forcing the Odisha government to approach the Supreme Court.

Singapore Maritime Week begins on Sunday

Singapore Maritime Week begins on SundayThe Singapore Maritime Week (SMW), which is in its ninth edition this year, was launched on Sunday with many facilities.

The ninth edition of the Singapore Maritime Week (SMW) will be the largest edition of the annual event yet with a host of activities planned. Minister for Transport Mr Lui Tuck Yew launched the new SMW 2014 at VivoCity.

New Zealand housing prices fall in March

New Zealand housing prices fall in MarchAccording to the latest figures released, the housing prices in New Zealand have continued to fall in the month of March as the buyers are discouraged due to restrictions on lending and rising interest rates.

The housing prices have been falling in the country since previous five straight months as the demand is affected by economic factors. The government's Quotable Value's (QV) said that the demand for housing has been affected by increasing interest rates and the limitations on bank lending in the country.

Government bars three firms from hiring under TFW programme

Government bars three firms from hiring under TFW programmeThe federal government has announced its decision to bar three employers from participating in the Temporary Foreign Workers program to hire workers from abroad.

A report showed that the authorities suspended all pending foreign worker permits for three McDonald's locations in Victoria, B. C, which is owned by franchisee Glen Bishop until an investigation is completed. Bishop has said that he has no information to hide, but he did not acknowledge the complaints.

Australia eyeing free trade pact with Japan

Australia eyeing free trade pact with JapanAustralian Prime Minister Tony Abbott is working to finalise a free trade agreement with the government of Japan.

The Prime Minister said pointed out that the deal will help in creating new jobs in Australia. While speaking to a business gathering in Tokyo, he said that the trade deal will also strengthen regional security. Japan and Australia are working closely to reaching a trade deal at a time when the Japanese authorities are working to reach a similar agreement with the government of the United States, which is a step ahead towards the Pacific trade pact.

Nigeria overtakes South Africa as Africa's largest economy

Nigeria overtakes South Africa as Africa's largest economyAccording to the latest figures released, Nigeria has become Africa's largest economy after it overtook South Africa in the previous year.

Nigeria, which is the most populous nation in Africa, recorded a Gross Domestic Product of $453 billion in 2012 that is higher than South Africa's $384 billion. Economists has acknowled the reshaping of the African economy, but South African economy remains a key economy on the African continent. They said that it is a key achievement for Nigeria and establish the country as a major economy in Africa.

Bharti Airtel to launch $400M overseas bond issue

Bharti-AirtelTelecommunication services provider Bharti Airtel will tap the overseas bond markets again to raise $400 million, a merchant banker associated with the imminent issue revealed.

The bond issue, which is a part of Bharti's $2 billion debt raising plan, will take place in the next three to four weeks. The merchant banks said the issue would likely go through either by the end of April or early next month.

Revealing the planned issue, the merchant banker said, "Bharti will be raising around $400 million in the next three-four weeks from an overseas offering."

Google reportedly preparing to introduce Android TV

Google reportedly preparing to introduce Android TVTech giant Google is reportedly preparing to introduce its wireless content streaming device, dubbed Android TV, which will go compete with the likes of Apple TV, Amazon's Fire TV and the Roku system.

Emerging reports, which could be part of Google's supposed effort to create buzz for Android TV, suggest that Google is gearing up for a formal introduction of the device.

Marks & Spencer to record another fall in sales

Marks-and-SpencerUK's clothing retailer, Marks & Spencer is expected to record another fall in sales, indicating that the retailer is facing difficulties even as it is focusing on reviving business during the previous few months.

Sun Pharma to acquire Ranbaxy for $3.2 billion

Sun-PharmaIndia's largest drug maker by market value, Sun Pharmaceutical Industries has indicated that it is planning to buy Ranbaxy Laboratories in a deal valued at $3.2 billion in stock.

The acquisition will be the biggest by any Indian company in two years. Under the terms of the deal, Ranbaxy investors will get 0.8 share in Sun for every one share in Ranbaxy, the two pharmaceutical giants said in a statement. The deal values the shares at about 457 rupees a share, or about 24 percent higher than the 60-day average.

Regulators record higher complaints against energy firms

OfgemData released by the Ombudsman Services have showed an increase in the number of complaints against energy companies during the first quarter of the year.

The data showed that the number of complaints recorded an increase of 224 per cent to 10,638 during the first quarter compared to 3,277 recorded during the first quarter of 2013. The data showed that the number of complaints will be higher in 2014 as there were a total of 17,960 complaints during the previous 12 months.

HS2 project to impact plant species, report

HS2According to a new report, the high speed rail link project to connect the British capital, London and the north of England might have an impact on some plant species.

The report said that the project might result in some plant species becoming endangered in the area while on the other hand it is likely to offer only a small emission savings. The report from the House of Commons Environmental Audit Committee said that the authorities will have to adopt better safeguards in order to address the issues relating to the environmental impact of the proposed HS2 link project.

CFO survey shows UK firms optimistic over hiring and investments

DeloitteA new survey of chief financial officers (CFOs) in the UK has showed that the financial decision makers are looking to increase hiring and investment during the coming 12 months.

The survey conducted by professional services group Deloitte on a quarterly basis showed that 81 per cent of those surveyed showed that British businesses are planning to increase the number of employees, about 80 per cent said that they expect higher capital expenditure and 95 per cent expect increased mergers and acquisitions.

HAL to tie up with IAF for projects

HAL to tie up with IAF for projectsIndian aircraft maker, Hindustan Aeronautics Limited has tied up with its prime customer, Indian Air Force to form joint teams to look into projects that are between the two sides.

The HAL and IAF will form teams to work out joint plans for ongoing military aircraft projects. The joint teams will address issues  related to the projects and aim at prompt delivery. HAL officials have said that project-specific plans and teams will be formed within this month.

NAMA's sells $5.4bn worth of loans

NAMA's sells $5.4bn worth of loansNAMA is planning to sell loans with a face value of £4.5 billion or $5.4 billion that are linked to the company's Northern Ireland borrowers.

This will be the company's biggest sale since it was established in the year 2009. Cerberus Capital Management is believed to have paid a higher price than NAMA's reserve of 1.3 billion indicating that the it is valued at about 28 pence to the pound.

NZ's LanzaTech to move to the US

NZ's LanzaTech to move to the USLanzaTech of New Zealand has indicated that it is planning to move its business to North America.

The firm is known to have links with US President Barack Obama's re-election campaign manager. The company has received $14.2 million in taxpayer funding with GSR since September 2005. The company has said that it is planning to move 30 employees from New Zealand.

Tweed begins trading on TSE

Tweed begins trading on TSETweed Marijuana, which is the first publicly traded producer of Marijuana in Canada, has started trading on the Toronto Stock Exchange.

The company recently emerged from the private placement price and made its debut on the stock exchange. The shares of the company recorded an increase of C$2.59 at this evening, which is 191 percent higher than the issue price of 89 cents based on a private placement on March 7.

Judge to dismiss lawsuit against Lululemon

Judge to dismiss lawsuit against LululemonA judge in a US court has dismissed a lawsuit against Lululemon Athletica that accused the company of duping its shareholders by concealing certain defects in some of its yoga pants.

The law suit resulted in an expensive recall and caused the retailer's stock price to fall in the stock market. Investors have accused the company of not disclosing that its black Luon yoga pants were too sheer, it had quality control issues and covered its inability to address shortfalls.

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