State-owned Indian Oil Corporation Ltd (IOCL) will invest Rs 61,000 crore to set up a naphtha cracker project at Paradip in Odisha, a statement said on Tuesday.
A Memorandum of Understanding (MoU) for this will be signed between the Odisha government and the IOCL in January during the 'Utkarsh Odisha  Make in Odisha 2025' summit, it said.
The foundation stone of the IOC's upcoming Rs 4,352 crore yarn project at Bhadrak will also be laid at that time, it added.
The decisions were taken at a meeting between Chief Minister Mohan Charan Majhi and IOCL Chairman AS Sahney in Bhubaneswar.
"The Naphtha Project in Paradeep has received in principle approval and IOCL will invest over Rs 61,000 crore for the project. It is likely to be one of the largest projects in the sector in the country. The State Government is an equity holder of this project, and will earn dividends in addition to taxes," said the statement issued by the Chief Minister's Office.
"It was also decided that, the foundati

Indian Oil

Indian archer Harvinder Singh, who won a gold at Paris Paralympics, on Tuesday alleged "discrimination" in the distribution of sports awards and questioned why the Khel Ratna honour was not bestowed on this year's medallists at the Games like the Tokyo edition.
Singh, a Tokyo Games bronze winner, claimed his maiden gold medal at Paris after defeating Lukasz Ciszek of Poland in the final 6-0.
"Discrimination in sports," Singh wrote on X.
"Tokyo 2020 Paralympic Gold medallists were awarded the Major Dhyan Chand Khel Ratna Award, but what about Paris 2024 Paralympic Gold medalists? Same competition, same gold, same pride  why not the same award?"
Following India's gold-winning performance at the 2021 Tokyo Paralympics, shooter Avani Lekhara, javelin thrower Sumit Antil and shuttler Pramod Bhagat were honoured with the Khel Ratna along with Olympic champion javelin thrower Neeraj Chopra.
"In the year 2021, all Olympic medal winners and Paralympic gold medal winners were honoured with 

Harvinder Singh

The United Nations says that, at best, it will be able to raise enough money to help about 60 per cent of the 307 million people it predicts will need humanitarian aid next year

It’s a simple but brutal equation: The number of people going hungry or otherwise struggling around the world is rising, while the amount of money the world’s wealthiest nations are contributing toward helping them is dropping.

It's a simple but brutal equation: The number of people going hungry or otherwise struggling around the world is rising, while the amount of money the world's wealthiest nations are contributing toward helping them is dropping.

In the last quarter of the calendar year 2024, women's sentiment on the economy dropped by 8 per cent, while that of men increased by 6 per cent, a trend observed across all income levels

Retail’s balancing act: Fickle loyalty of the customers in the phygital age

Retail's balancing act: Fickle loyalty of the customers in the phygital age

Mumbai (Maharashtra) [India], December 24: The second edition of the 'Fentiro Don't Drink  &amp;  Ride Gentlemen Rally' saw a bevy of super bikes vrooming around the streets of Mumbai spreading an important social message.

\"Fentiro Don\'t Drink And Ride Rally\" attracts cream of Superbikers

Markets Today LIVE: With Wall Street, driven by the so-called Santa Clause rally, and Indian markets closing higher in the previous trading session, investors would be looking to continue the momentum

The Securities and Exchange Board of India (Sebi) has proposed measures to regulate algorithmic (algo) trading by retail investors, introducing new checks and balances for stock brokers and exchanges. Currently, algo trading is dominated by instituti

Bharat Petroleum Corporation Limited announced two major energy projects in both traditional and renewable energy sectors

BPCL, Bharat petroleum

Mamata Machinery IPO allotment status: Once the allotment gets finalised, investors can check their status on the official websites of BSE, NSE, or Link Intime India, the registrar for the issue

ipo market listing share market

Tata Group companies' shares increased following reports of Tata Capital planning to raise Rs 15,000 crore through an initial public offering (IPO)

Tata, Tata Group

The DGCA has imposed a Rs 10 lakh fine on Akasa Air for denying boarding to seven passengers on a Bengaluru-Pune flight in September and failing to provide required compensation

Akasa Air

While speaking at the 'Hala Modi' community event at Kuwait's Sheikh Saad Al-Abdullah Indoor Sports Complex, PM Modi highlighted India's rapid transformation in various fields

PM Modi in Kuwait

The accumulated losses of state public sector enterprises (PSEs) rose from Rs 3,953.70 crore in 2020-21 to Rs 4,778.70 crore in 2022-23, while the profit earned by 13 SPSEs stood at Rs 20.21 crore as on September 30, 2023, according to a report by the Comptroller and Auditor General (CAG) on finances tabled in the Assembly on Saturday.
The net worth of nine out of these 14 PSEs has been completely eroded by losses and their worth was (-) Rs 1,932 crore against an equity investment of Rs 2,085.59 crore, while three PSEs have outstanding government loans amounting Rs 3,132 crore, the report said.
Himachal Pradesh State Electricity Board topped the list of loss making enterprises with accumulated losses of Rs 1,809.61 crore, followed by Himachal Pradesh Road Corporation at Rs 1707.12 crore, HP Power Corporation at Rs 552 crore, Himachal Pradesh Power Transmission Corporation at Rs 395.91 crore, HP Financial Corporation at Rs 180.97 crore, State Forest Corporation at Rs 113.04 crore, HPM

The Centre may overshoot the Rs 56,260 crore target for dividend receipts from central public-sector enterprises (CPSEs) set for FY25 and is likely to end up getting around Rs 65,000 crore this financial year, according to a senior government officia

Albania's prime minister said on Saturday the government will shut down the video service TikTok for one year, blaming it for inciting violence and bullying, especially among children.
Albanian authorities held 1,300 meetings with teachers and parents following the stabbing death of a teenager in mid-November by another teen after a quarrel that started on TikTok.
Prime Minister Edi Rama, speaking at a meeting with teachers and parents, said TikTok "would be fully closed for all.... There will be no TikTok in the Republic of Albania". Rama said the shutdown would begin sometime next year.
It was not immediately clear if TikTok has a contact in Albania.
TikTok, in an email response on Saturday to a request for comment, asked for "urgent clarity from the Albanian government" on the case of the stabbed teenager. The company said it had "found no evidence that the perpetrator or victim had TikTok accounts, and multiple reports have in fact confirmed videos leading up to this incident w

TikTok

Thirty-eight people are confirmed dead, and over 100 remain missing in Congro after an overloaded ferry -- full of people returning home for Christmas -- capsized in the river Burisa late on Friday night, according to local officials and eyewitnesses.
Twenty people are confirmed to have been rescued so far.
The boat was travelling in the northeast of the Congo as part of a convoy of other vessels, and the passengers were primarily merchants returning home for Christmas, said Joseph Joseph Kangolingoli, the mayor of Ingende, the last town before the site of the accident.
The capsizing occurred less than four days after another boat in the northeast of the country capsized, killing 25.
According to Ndolo Kaddy, a resident of Ingende, the ferry contained "more than 400 people because it made two ports, Ingende and Loolo, on the way to Boende, so there is reason to believe that there were more deaths".
Congolese officials have often warned against overloading and vowed to punish those

Mumbai ferry collision

CM Saha stated that Tripura has achieved complete financial inclusion, with every village in the state now having access to a banking touchpoint or outlet, in line with the National Strategy

Manik Saha, Manik, Tripura CM

"This is a national tragedy, violating the spirit of the Good & Simple Tax the GST was meant to be," says former chief economic adviser Arvind Subramanian

popcorn

Three scenarios culminated in mutual annihilation, with both the US and China engaging in a nuclear exchange that decimated cities and resulted in millions of casualties

US China flag, US-China flag

The overarching theme of this year has been the RBI's new approach to vigilance

RBI, Reserve Bank of India

Initially, the petition was filed in the MP-MLA court, where it was dismissed. However, the petitioner pursued the matter by appealing to the District Judge Court

Rahul Gandhi, Gaurav Gogoi

Three managers were dismissed for the violations, and a police report was filed against them

Surabhi Mittal

Surabhi Mittal

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IOC to invest Rs 61,000 crore for naphtha cracker project in Odisha

Para archer Harvinder Singh alleges 'discrimination' in sports awards

Global hunger crisis rises rapidly as major countries cut back on aid

Retail's balancing act: Customer's fickle loyalty in the phygital age

"Fentiro Don't Drink And Ride Rally" attracts cream of Superbikers

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Stock Market Highlights: Sensex sheds 67pts, Nifty settles at 23,727; Smallcap shares shine

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Mamata Machinery IPO allotment today: Check status, GMP, listing schedule

Tata Group stocks zoom up to 12% on reports of Tata Capital's Rs 15K-cr IPO

Akasa Air fined Rs 10 lakh by DGCA for denying boarding to passengers