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May 16, 2018 10:17 PM IST | Source:

News highlights: India may miss solar, wind energy 2022 targets, says Survey

This blog will keep track of key global and local developments impacting business and markets through the day. Important local and global political developments will also find resonance here.

  • May 16, 09:47 PM (IST)

    India may miss solar, wind energy targets by 2022: Survey

    India may not achieve its renewable energy target of having 100 GW of solar energy and 60 GW of wind power by 2022, as per a survey conducted by a consulting firm Bridge to India. India is expected to add total 66 GW of solar energy and 52 GW of wind power by March 2022 — which is 66 percent of 100 GW of solar and 87 percent of 60 GW wind targets set by the government, as per the 3rd edition of RE CEO Survey by Bridge To India said in a statement.

  • May 16, 10:19 PM (IST)

    That's all for today, readers. Thanks for staying on with our coverage of the day's action. Your enthusiasm encourages us to better our coverage every day. Do come back tomorrow for more news, views and insights.

  • May 16, 10:12 PM (IST)

    With friends like Trump, who needs enemies: EU chief

    The European Union's top official launched a stinging attack today on President Donald Trump, slamming his "capricious assertiveness" and saying the US leader acted more like an enemy than a friend. EU president Donald Tusk urged leaders meeting in Bulgaria to form a "united European front" against Trump's withdrawal from the Iranian nuclear deal and his move to impose trade tariffs on Europe.

  • May 16, 09:55 PM (IST)

    The party that blew up the constitution to shambles is teaching us the constitution, the party that imposed President rule the most number of times is giving us lessons: Union Minister Ravi Shankar Prasad said.

  • May 16, 09:48 PM (IST)
  • May 16, 09:30 PM (IST)

    Cambridge Analytica shared data with Russia: Whistleblower

    Political consulting group Cambridge Analytica used Russian researchers and shared data with companies linked to Russian intelligence, a whistleblower told a congressional hearing on interference in the 2016 US election tpday. Christopher Wylie, who leaked information on the British-based firm's hijacking of data on millions of Facebook users, told a Senate panel he believes Russian intelligence services had access to data harvested by the consultancy.

  • May 16, 09:20 PM (IST)

    JSW Steel to invest Rs 17,600cr more to up capacity to 24.7 mt 

    Sajjan Jindal-led JSW Steel today said the company has decided to invest an additional Rs 17,600 crore for increasing its steel capacity to 24.7 million tonne per annum (mtpa) by 2020. "Looking at the domestic demand growth, we see a shortage of steel if we don't expand in the next two years," JSW Steel joint managing director and group chief financial officer Seshagiri Rao told reporters here while announcing almost two-fold rise in consolidated net profit to Rs 2,879 crore in the March quarter, against Rs 1,008 crore in the year-ago quarter.

  • May 16, 09:12 PM (IST)
  • May 16, 09:11 PM (IST)

    Reports of BSY to take oath tomorrow 'shocking' if true

    The Congress today termed as "shocking" the Karnataka BJP spokesperson's claim that B S Yeddyurappa will be sworn in tomorrow and said it will tantamount to "murdering" democracy, "trampling" Constitution and disregarding all the precedents. Congress' chief spokesperson Randeep Singh Surjewala also said that the will of the majority cannot be subjugated at the whims of the BJP and the Narendra Modi government at the Centre.

  • May 16, 08:55 PM (IST)

    Flyover collapse: Uttar Pradesh Congress chief demands Maurya's resignation

    Uttar Pradesh Congress chief Raj Babbar has demanded the resignation of state PWD Minister Keshav Prasad Maurya, holding him morally responsible for the flyover collapse here, in which 15 people lost their lives and several were injured, reported PTI. 

  • May 16, 08:53 PM (IST)
  • May 16, 08:49 PM (IST)

    Airtel to lay-off section of Telenor staff post-merger 

    A day after government approved its merger with telecom major Airtel, a section of Telenor India's employees are facing lay-off. They got mails from Bharti Airtel asking them to attend a meeting with the HR officials to discuss "way ahead and next step", an employee working for the Norwegian telecom company's Indian subsidiary in Andhra Pradesh circle said.

  • May 16, 08:35 PM (IST)
  • May 16, 08:33 PM (IST)

    Govt to push wage code, table social security code in Monsoon Session

    Labour Minister Santosh Gangwar today said the Wage Code Bill 2017 will be pushed for passage while the Labour Code on Social Security Bill 2018 would be tabled for consideration in the monsoon session of Parliament. "The Standing Committee on Labour has finalised its report on the Code on Wages. We would push the bill for passage in the next session," Gangwar told reporters at a FICCI event.

  • May 16, 08:19 PM (IST)

    Govt to review position of 11 PSBs under prompt corrective action on May 17

    The finance ministry has called a meeting tomorrow of all the 11 state-owned banks under the Reserve Bank's prompt corrective action (PCA) to discuss various measures taken by them to come out of the watch list. The lenders will make presentations on steps being taken by them and share timeframe within which they expect to come out of PCA, sources said.

  • May 16, 08:11 PM (IST)

    JUST IN | BS Yeddyurappa to take oath at 9 am tomorrow, reports CNN News18 citing sources.

  • May 16, 08:09 PM (IST)

    JUST IN | BS Yeddyurappa to be sworn-in as the chief minister of Karnataka tomorrow, reports CNN News18 citing sources.

  • May 16, 08:08 PM (IST)

    Governor's office being misused to buy time for horse-trading: CPI(M)

    Criticising the Karnataka governor's decision to give time to the BJP to prove its majority in the state Assembly, the CPI(M) today accused the saffron party of indulging in horse-trading. In a statement, the Left party alleged that the constitutional office of the governor was being misused in the southern state.

  • May 16, 08:02 PM (IST)
  • May 16, 07:56 PM (IST)

    ArcelorMittal shareholders approve converting share capital currency to US dollar

    The world's leading steelmaker ArcelroMittal today said it has got shareholders' nod to convert the currency of share capital to US dollar from the euro. The move is aimed at simplifying the company's reporting process given the fact that the company prepares its consolidated financial information in dollars and the parent company uses it as functional currency.

  • May 16, 07:42 PM (IST)

    Muthoot Finance to raise up to Rs 6,000 cr via NCDs

    Muthoot Finance today said it will raise Rs 6,000 crore through public issue of non-convertible debentures (NCDs). The money is to be issued in one or more tranches.

  • May 16, 07:26 PM (IST)

    US going ahead with preparations for Trump-Kim summit despite North Korea's cancellation threat: White House

    White House today said it is proceeding with the preparations for a meeting between President Donald Trump and North Korean leader Kim Jong Un notwithstanding Pyongyang's threat to cancel the historic summit on June 12, alleging that America was trying to push it "into a corner" on nuclear disarmament. North Korea has threatened to abandon planned talks between Kim and Trump in June if Washington insists on pushing it "into a corner" on nuclear disarmament.

  • May 16, 07:22 PM (IST)

    FIR against officials in flyover collapse; govt-run corp faced flak earlier too

    The police have registered an FIR over yesterday's flyover collapse against officials of the Uttar Pradesh State Bridge Corporation Limited, a government-run entity that has faced criticism also in the past over the standard of its work. The corporation received flak earlier after some bridges built by it developed cracks.

  • May 16, 07:17 PM (IST)

    I-T dept conducts searches at premises of Asnani Group for tax evasion

    The Income Tax department today conducted searches at the premises of a real estate group and its associates in Bhopal, Indore, and Bengaluru for suspected tax evasion, an official said here. "Searches were conducted at 30 premises of Asnani Group and its 12 associate companies at Bhopal, Indore, and Bengaluru," Income Tax Investigation wing (MP and Chhattisgarh region) Principal Director RK Paliwal told reporters in Bhopal.

  • May 16, 07:15 PM (IST)

    Indore, the cleanest, followed by Bhopal and Chandigarh: Survey

    Indore emerged as the cleanest city, followed by Bhopal and Chandigarh in the government's cleanliness survey. The results of Swachh Survekshan 2018, which aims to estimate levels of cleanliness across cities in the country, were announced today by Minister of State for Housing Hardeep Singh Puri today.

  • May 16, 07:08 PM (IST)

    Congress-JDS submit list of 117 MLAs to Guv for govt formation

    Stepping up pressure, JDS and Congress leaders today met Governor Vajubhai Vala and submitted a list claiming support of 117 MLAs with a plea to consider their claim for government formation.

  • May 16, 06:59 PM (IST)

    Tata Steel posts Q4 net profit of Rs 14,688 crore, beats Street estimates  

    Tata Steel on Wednesday reported a consolidated net profit of Rs 10,187 crore for the March quarter, as against a loss of Rs 1,168 crore in the same quarter last year, benefiting from a one-time gain from the restructuring of its UK business' pension scheme.

    As many as 10 analysts polled by Reuters estimated the domestic steel-making behemoth to report a consolidated net profit of Rs 2,552 crore. 

    Read the full story here

  • May 16, 06:34 PM (IST)

    SP workers protest at Varanasi flyover accident site

    Samajwadi Party (SP) workers protest at Varanasi flyover accident site. Workers say,"We demand high level investigation into the matter." (ANI)

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