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566 highway projects delayed for various reasons: Gadkari

New Delhi: As many as 566 national highway projects are running behind schedule owing to issues ranging from land acquisition, forest and wildlife clearances to poor performance of contractors, Road Transport and Highways Minister Nitin Gadkari told Parliament on Thursday. “Construction work on Golden Quadrilateral has already been completed, however 566 projects are behind their completion schedule. These projects are …

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VMware targets SMEs for further growth in India

Mumbai: After making its technology available to some of India’s biggest organisations including the State Bank of India and Bharti Airtel, enterprise software major VMware is now eying small and medium-sized enterprises (SMEs) to accelerate its pace of growth in the country, according to the company’s top executives. “We are looking to support new industries in India,” Duncan Hewett, Senior Vice President and …

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Pradhan seeks flight between Bhubaneswar-Ras Al Khaimah

Bhubaneswar: Union Petroleum Minister Dharmendra Pradhan has requested Union Civil Aviation Minister Hardeep Singh Puri for introduction of direct flight services between Bhubaneswar and Ras Al Khaimah in the United Arab Emirates (UAE). In a letter released to media on Thursday, Pradhan sought Puri’s personal intervention in commencement of direct flights between Bhubaneswar and Ras Al Khaimah at the earliest. …

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Cabinet gives Rs 42,000 cr cash flow to telcos

New Delhi: In a big relief to the telcos –Airtel, Vodafone and Jio, the Union Cabinet has approved the recommendation of the Committee of Secretaries (CoS) and allowed telcos a two-year moratorium on spectrum-related dues which translates into a Rs 42,000 crore financial support to the stressed sector. Deferment of spectrum auction installments would ease the cash outflow of the stressed telcos …

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Delhi air slips to ‘very poor’ category again

New Delhi: The overall air quality of the national capital on Thursday slipped into the higher end of the ‘very poor’ category and may deteriorate further due to the extremely low wind speed, after being in ‘poor’ for days. According to the Centre-run System of Air Quality and Weather Forecasting (SAFAR), the overall AQI was recorded at 340. “The overall …

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Outsourcing to gain as geopolitical risks grow

New Delhi: As recent events like the US-China trade war and political tensions in Hong Kong raise fears of delivery disruptions, the stable Indian outsourcing market can benefit from the growing geopolitical instability, a new report said on Wednesday. Fears of geopolitical instability may impact the global offshore services market, as sourcing, procurement and vendor management executives review their options …

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Govt mulling converting India Post Bank to small fin bank

New Delhi: The government on Wednesday told Lok Sabha that it is exploring the possibility of converting India Post and Payments Bank into a small finance bank. “Possibilities of converting it (IPPB) into a small finance bank is being explored. A Task Force has been set up for studying the logistics and feasibility of conversion of IPPB,” said Union IT …

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RBI supersedes DHFL board, to initiate insolvency proceedings

Mumbai: Citing governance concerns, the Reserve Bank of India on Wednesday superseded the Board of Directors of Dewan Housing Finance Corporation Limited (DHFL) and said it intends to shortly initiate the process of resolution of the company. The RBI also appointed the R Subramaniakumar, ex-MD and CEO of Indian Overseas Bank, as the “Administrator under Section 45-IE (2) of the Reserve Bank of …

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Shopping festival starts in Mapusa

Panaji: Goa Shopping Festival, the lifestyle shopping festival exhibition is underway for the first time at Mapusa, opposite Bodgeshwar Temple.  There are lot of exclusive offers on home, office, dining tables, 120 types of imported sofa sets, furniture, furniture, air conditioners, money counting machine, mattress from home fashion, Italian blankets, kitchenware, carpets, toys, invertors, solar heaters, curtains, imported artificial flowers …

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Mallya’s Kingfisher House to go under the hammer again

Mumbai: The Kingfisher House — the erstwhile headquarters of the defunct Kingfisher Airlines Ltd. (KAL) – owned by absconding liquor baron Vijay Mallya, will be up for auction again. The 8th time in barely three years. The Debts Recovery Tribunal (DRT), Bengaluru, has announced a new auction date of November 27 through an online bidding process, for the beleaguered property. From …

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