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ADB to finance Indian Railways’ projects
NEW DELHI: The Asian Development Bank (ADB) signed a $120 million loan agreement with India to improve operational efficiency of Indian Railways by double-tracking and electrification of tracks along high-density corridors. The loan is part of the $500 million multi-tranche financing facility for railway sector investment programme approved by the ADB board in 2011. The loan amount will be used to complete the ongoing works
Hotels in Egypt register rise in occupancy rates
CAIRO: Egypt is seeing a promising rebound in tourism as a good news to the government. As a result of this revival, rising occupancy rates have been registered in the country’s hotels. In Hurghada, the Grand Plaza hotel’s occupancy rose to about 80 per cent in February, up from around 50 per cent a year earlier, said Manager Taher El Sayed. In the eastern Red Sea city of Hurghada, tourists lounge on sunbeds on the beach or
HAL public issue debuts to divest 10.2% equity stake
BENGALURU: Hindustan Aeronautics Limited’s (HAL) initial public offering (IPO) opened on Friday with an aim to divest 10.2 per cent of its equity holding to raise about Rs1,400 crore. IPO is an offer-for-sale to divest the government’s 10.2 per cent equity stake. The 5-day offer closes on March 20. The defence behemoth is offering 3.41 crore equity shares of Rs10 face value in the price band of Rs1,215-1,240 per share. Retail
Delhi mulls easing RBI’s norms for power sector firms
NEW DELHI: The Centre proposes to recommend that the RBI make some relaxation in its norms on non-performing assets (NPAs), or bad loans, of banks, failing which up to 70,000 MW of power projects will go under bankruptcy proceedings, the Association of Power Producers (APP) said on Friday. NPAs in the power sector, which account for the major chunk of bad loans, was a main item in the agenda of a meeting held here on Friday
KP Tourism, Switzerland sign pact to boost ties
PESHAWAR: Khyber Pakhtunkhwa (KP) Tourism & Museums Department and the Swiss government signed a Memorandum of Understanding (MoU) to promote tourism in Pakistan. The MoU was part of an earlier agreement signed between the governments of Pakistan and Switzerland to open new avenues of cooperation in museums sector through capacity-building of museum experts, arranging exchange visits, conducting joint research programmes, etc.
Bhutan poised to move up from UN’s list of poor countries
KATHMANDU: Bhutan poised to move up from UN’s category of poorest countries. Famous for its pursuit of Gross National Happiness, Bhutan has a new cause for joy. In recognition of its Gross National Income (GNI) growth and social development, the kingdom is poised to graduate from the UN category of the world’s poorest known as the Least Developed Countries (LDC). However, two other South Asian nations, Nepal and Bangladesh,
Pakistan launches single-window for company and national tax number registration
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) and the Federal Board of Revenue (FBR) of Pakistan have launched a single-window facility for company and national tax number (NTN) registration. The move is part of ‘Doing Business Reforms’ and the one-window facility is based on back-end integration between SECP and FBR systems. Through this facility, the entrepreneur will login to the SECP online portal
Salman Khan to shoot month-long 'Race 3' scenes in Abu Dhabi
Abu Dhabi: Bollywood superstar Salman Khan is back! The Indian fil..
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Snapchat CEO's net worth tanks $150m after Rihanna's rant
LOS ANGELES: After singer Rihanna blasted Snapchat for running an ad t..
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Weinstein would prefer it if I were dead: McGowan
LOS ANGELES: Actress Rose McGowan, who alleged that Hollywood producer..
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Actor Jacqueline Fernandez visits Sheikh Zayed Grand Mosque
ABU DHABI: Bollywood superstar Jacqueline Fernandez visited the UAE’s ..
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Backstreet Boys want to open restaurant
LOS ANGELES: Vocal group Backstreet Boys are ready to foray into the r..
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UAE Ambassador to India distributes ERC assistance
NEW DELHI: The UAE Ambassador to India Dr. Ahmed Abdul Rahman Al Banna..
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3 astronauts to blast off for space station on March 21
WASHINGTON: A Soyuz capsule carrying two NASA astronauts and a Russian..
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Myanmar's Suu Kyi pressed on Rohingya crisis at ASEAN summit
SYDNEY: Myanmar's de facto leader Aung San Suu Kyi was pressed about t..
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UAE goes green to celebrate St. Patricks's Day
DUBAI: Today as millions around the world celebrate St. Patrick's Day ..
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Four killed, 19 trapped in Philippine hotel fire
MANILA: A fire broke out at a hotel in the Philippine capital on Sunda..
Added : 2 hours ago
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