Coal India News
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Indian stocks climbed to the highest level in more than two years in a special trading session in Mumbai today.
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Coal India Ltd., the nation’s biggest producer of the commodity, cut output across its operations after a federal order to keep explosives from terrorists halted shipments of the material that’s also central to mining.
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India plans to accelerate sales of state companies to meet the fiscal-year goal of 400 billion rupees ($7.4 billion) by December, two finance ministry officials with direct knowledge of the matter said.
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A panel of Indian lawmakers proposed dropping a clause from planned mining laws that requires coal and lignite companies to share their profits with local communities and pay for development projects where they operate.
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Dharmendra Kumar owes his job to rocks masquerading as coal.
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Coal India Ltd.’s employees plan to go on an indefinite strike should the government proceed with a plan to raise 200 billion rupees ($3.7 billion) selling shares in the world’s biggest producer of the fuel.
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India plans to raise 200 billion rupees ($3.7 billion) selling part of its stake in Coal India Ltd., the world’s biggest producer of the fuel, and narrow the widest budget deficit among major emerging economies.
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Coal India Ltd., which failed to use any of its $12 billion cash to buy mines overseas in the past five years, is renewing efforts as demand soars from power producers, said two people familiar with the plan.
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Coal India Ltd., the world’s biggest producer of the fuel, has set aside 350 billion rupees ($6.5 billion) to buy and develop mines overseas over the next five years to bolster domestic supplies.
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Coal India Ltd., the world’s biggest producer of the fuel, sought bids for overseas mine purchases to counter a shortage of local supplies to power producers.
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