Up to Rs 65,000 crore has been approved for a host of rail infrastructure projects on the suburban network in Mumbai and its surrounding areas, said Railway Minister Piyush Goyal Sunday. These projects, investment for which were proposed in this year’s Union budget, include...

HAL’s basic trainer aircraft HTT 40 began the challenging ‘spin test’ by successfully doing two-turn spins and recovering with appropriate controls. Two test pilots undertook the first spin entry testing on Friday. The aircraft was piloted by Gp Capt (Retd) KK Venugopal, DGM-Test Pilot...

  Air India Express, the low-cost international arm of national carrier Air India, has reported an 11 per cent dip in the net profit at Rs 262 crore in fiscal 2018, impacted by high fuel cost and sluggish growth in the Gulf economies, but...

The Rail Vikas Nigam Ltd (RVNL) has been granted an exemption from the mandatory local sourcing clause while procuring steel rails. The exemption was given after it was found that Steel Authority of India Ltd (SAIL) cannot meet the full requirements of the company....

At a time when large banks are shying away from the infrastructure sector, private-sector lender RBL Bank is eyeing highway projects with plans to make selective financing. “We are just about beginning to take baby steps into some selective project financing. So, we are...

Decks have been cleared for India to start operating the Chabahar port in Iran by the end of November after the US granted exemptions to the port from the sanctions it had imposed on the Persian Gulf nation from Sunday. “We are targeting to...

Aviation regulator DGCA has asked Jet Airways and SpiceJet to take corrective action to address possible issues with their Boeing 737 MAX planes that could lead to “significant altitude loss” of the aircraft, a senior official said on Thursday. The latest directive follows advisories...

Union Shipping Secretary Gopal Krishna on Tuesday said relaxation of cabotage for foreign-registered vessels has helped reduce coastal shipping rates and Indian seaports like Krishnapatnam and Visakhapatnam are attracting a share of cargo which was previously transhipped at Singapore or Colombo. The Centre relaxed...

The Cochin Shipyard’s new dry dock project is expected to increase India’s share in global ship-building to 2 per cent, said Nitin Gadkari, Union Minister for Shipping, Road Transport & Highways. At present, India occupies 0.66 per cent share in global ship-building market, the...

Availability of working capital for the road transport sector is slowly being addressed, thanks to the intervention by the RBI. Earlier, there were restrictions on bank lending to NBFCs (Non-Banking Financial Companies), which in turn lend to transporters. However, the Reserve Bank of India...