27
Monday
January 2020
1:41 AM IST
News Headlines
Padma Vibhushan for Jaitley, Sushma, Fernandes posthumously; Parrikar given Padma Bhushan        Coronavirus scare: Nearly 100 people under observation, PMO reviews India''s preparedness        China facing ''grave'' situation, says Xi as coronavirus death toll rises to 41        Quake kills 22 in Eastern Turkey        Nepal offers to play role of mediator between India and Pakistan        India can play Asia Cup matches at neutral venue, but call is ACC''s: PCB CEO Khan        South Africa crumble after Broad, Wood help England rack up 400        Hugo Boumous inspires FC Goa to a thrilling 3-2 win over Kerala Blasters FC in Hero ISL        Growth slowdown in India temporary, expect momentum to improve going ahead: IMF chief        SC refuses to entertain plea against imposition of NSA amid anti-CAA protests        'Batman' script is beautiful, dark and moving: Colin Farrell        Scriptwriting is underrated: Ayushmann Khurrana        Agarkar applies for national selector's job, frontrunner for chairman's post, Prasad in running too        Rahul relishing dual role, says staying behind stumps helps batting too        Samsung moves India chief HC Hong to Latin America        WEF 2020 meeting ends with hopes for better and cleaner economy        Sebi fines Scan Steels Rs 18.8 lakh for fraudulent trading        Italy threatens Facebook with new fine for selling users' data        Nepal says if India can resolve boundary issue with Bangladesh, why not Kathmandu        Houston building explosion shakes city, scatters debris        
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Business News
Oil PSU unions oppose BPCL disinvestment
 
Mumbai: Employee associations of state-run oil companies on Saturday opposed planned strategic sale of Bharat Petroleum Corporation (BPCL), stating that it may bring revenue for the government but its long-term impact will be adverse. The government plans to sell its majority stake in the oil marketeer which can help it raise over Rs 70,000 crore. A senior Finance Ministry official had said this week that the sale might be deferred to the next fiscal.

The Confederation of Maharatna Officers Association (COMCO) and Federation Of Oil PSU Officers (FOPO) on Saturday held a joint press conference here. The two associations claimed that selling off BPCL will result in a loss, because it is valued at 9.75 lakh crore while the government ownership is 53.29 percent for which it will be getting a maximum of Rs 7,50,00 crore.

"BPCL is the most efficient profit-making company of the nation, which has been giving Rs 17,000 crore annually since last five years," said Amit Kumar, senior officer of ONGC. "We are requesting the government to review the decision of disinvestment of BPCL," he said adding the disinvestment will be a short-term gain but a long-term loss.

If the government wants, it can privatise or divest its stake in some other public sector companies whose performance is poor, he said, adding it will be interesting to see which private company takes over such PSUs. Energy sector is considered strategically important, and privatization of a public sector company in this sector is a threat to the country''s security, said Anil Medhe of BPCL. Mukul Kumar, convener of the FOPO, said BPCL is the most professionally-run company among HPCL, IOC, and employees are "surprised" by the government''s decision.


Samsung moves India chief HC Hong to Latin America
WEF 2020 meeting ends with hopes for better and cleaner economy
Sebi fines Scan Steels Rs 18.8 lakh for fraudulent trading
Raids on Lalit hotels group, promoter led to Rs 1,000-cr black foreign assets: CBDT
Rupee falls by 7 paise to end at 71.33 against US dollar
Looking to build new businesses in India on top of existing verticals: Canon
Rupee strengthens 2 paise to 71.19 on easing crude prices
Budget will have 'plan of action' on economy: Javadekar
India, Iran should work to expedite Chabahar Port development, connectivity to Afghanistan: Zarif
Forex reserves rise by USD 58 mn to record high of USD 461.21 bn
India, US in advance-stage talks to resolve trade issues: Goyal
Gadkari urges states to come forward in the drive for curbing accidents
IndusInd Bank down 5.44 pc to Rs 1400.60
Rupee up by 7 paise against USD
CCI directs probe against Amazon, Flipkart
Panic stricken depositors mill around bank after RBI caps withdrawal limit
US removes currency manipulator label on China ahead of inking of trade deal
Flipkart opens two warehouses in Haryana, to create over 5,000 local jobs
Rupee cuts short 5-day gaining streak; edges down 1 paise to 70.87 against dollar
Rupee extends gains by 8 paise to 70.86 against US dollar
KERALA NEWS
Man killed with soil excavator
 Thiruvananthapuram: A 36-year-old man was killed with an excavator near here when he objected to a g  
Delhi court extends ED custody of NRI bizman C C Thampi
Congress president restructures KPCC
Kerala Guv again criticises LDF govt for passing resolution in Assembly against CAA
INTERNATIONAL NEWS
China facing ''grave'' situation, says Xi as coronavirus death toll rises to 41
 Beijing: President Xi Jinping on Saturday said that China is facing a "grave situation" but exuded c
Quake kills 22 in Eastern Turkey
Nepal offers to play role of mediator between India and Pakistan
Italy threatens Facebook with new fine for selling users' data
NATIONAL NEWS
Padma Vibhushan for Jaitley, Sushma, Fernandes posthumously; Parrikar given Padma Bhushan
 New Delhi: Former union ministers Arun Jaitley, Sushma Swaraj and George Fernandes, Olympian boxer M
Govt will not allow universities to become political battlegrounds: Ramesh Pokhriyal
Maha phone tapping row hots up; Fadnavis rejects charge
Bru settlement: Tripura begins survey to identify beneficiaries
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