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‘Investments in data centres grow to $396 mn’

‘28 hyperscale units expected in 3 years’ Data centres in India are emerging as an alternative real estate asset and have attracted investments of $396 million from January to September 2020, Anarock-Mace said in a report. The report — Navigating the India Data Centre Lifecycle – Trends & Perspectives — noted that data centres are now the hottest alternative real […]

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Power consumption grows 7.8% in first half of November

Power consumption in the country was recorded at 46.52 BU during November 1-15 last year, according to the power ministry data. India’s power consumption grew 7.8 % to 50.15 billion units (BU) in the first half of November this year, showing rise in economic activities, as per government data. Power consumption in the country was recorded at 46.52 BU during […]

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Tata Steel profit halves, in talks for sale of Dutch unit

Firm reports Q2 net of ₹1,665.07 crore. Tata Steel on Friday said its consolidated net profit declined about 50% to ₹1,665.07 crore in the September quarter, from ₹3,302.31 a year earlier. Total income rose to ₹37,376.13 crore, from ₹34,762.73 crore, Tata Steel said in a BSE filing. In a separate statement, Tata Steel said it had initiated discussions with Sweden-based […]

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CUB to focus on ECLGS

Bank to concentrate on balance sheet not P&L: Kamakodi Private sector lender City Union Bank Ltd. (CUB) will focus on emergency credit line guarantee scheme (ECLGS), gold loans and restructuring of facilities for now to aid borrowers and control slippages. “During second quarter of FY20, we took our leg off the growth pedal as economy was not doing well,” N. […]

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What the coal sector could look like in the next administration

Joe Biden’s coal miner comments are insulting: Pennsylvania Coal Alliance executive director Pennsylvania Coal Alliance executive director Rachel Gleason discusses former Vice President Joe Biden’s comments that coal miners should learn coding and the coal industry in her state. In the tight-knit Shelocta, Pa., coal mining community, a veil of uncertainty lingers. Continue Reading Below U.S. flags flap gently in the fall breeze; […]

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Exxon slashes 1,900 jobs, many at corporate HQ

Fears of coronavirus second wave could destroy oil: Expert Senior market analyst Phil Flynn argues hurricanes and fears over a second wave of coronavirus cases are hurting the outlook for oil demand.  Exxon Mobil plans to cut 1,900 U.S. workers as the oil giant navigates a sharp drop in demand caused by the COVID-19 pandemic, which has curtailed both office commutes […]

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Oil extends last week's losses into Monday, falls nearly 2%: report

Fox Business Flash top headlines for October 23 Fox Business Flash top headlines are here. Check out what’s clicking on FoxBusiness.com. TOKYO – Oil extended last week’s losses on Monday, falling nearly 2% as a surge in COVID-19 infections in the United States and Europe prompted concern over crude demand, while the prospect of increased supply also hit sentiment. Continue […]

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