Essar has restored power to the 296,000 barrel per day Stanlow refinery, Britain's second largest, and expects to have all units back on line within five to six days, a company spokesman said on Wednesday. The refinery lost power around 1400 GMT on Tuesday causing all units to shut down. "The fault was found and corrected within a few hours, and restart of the site has progressed well overnight, with boilers back on line and units being re-commissioned," spokesman Jonathan Miller said. "Product stocks are good and customers are lifting at normal levels. We expect all units to be back on line within the five to six ays, with some units much sooner."
New premium economy segment on AI flights
Air India is planning to introduce a new seating segment 'premium economy' on its domestic all-economy flights from the middle of this month at the cost of almost the lowest business class fare on a route. These seats would be launched on some of its all-economy class Airbus A-320 aircraft on February 15 on the Delhi-Guwahati-Imphal sector, airline sources said. With no business class on these planes, the premium economy seats would be located in the first two rows with the middle seat lying empty. Passengers travelling in premium economy would be allowed 35 kgs of free baggage against 20 kg for other economy passengers, besides making changes in travel date free.
Polaris launches payment system hub for India
Polaris Financial Technology's iGTB division, provider of the world's first complete global transaction banking platform on Wednesday announced the launch of its National Automated Clearing House-ready India payments solution. The solution is compliant with major payments systems in the country including National Automated Clearing House (NACH), Next-Generation Real Time Gross Settlement (NGRTGS) and National Electronic Funds Transfer System (NEFT), the company said. Manish Maakan, chief executive officer, Polaris iGTB said, "With this solution, banks in India can help their corporate customers unlock the power of receivables with NACH debits and mandate management."
Mphasis unveils new corporate brand
Mphasis, an Hewlett Packard (HP) IT services company, has unveiled its new corporate brand including a logo reflecting the mid-tier firm's evolution into what the company called a highly differentiated, customer-centric organisation. According to release, Mphasis said over the past three years it has laid the foundation to be a specialized partner of choice. This includes focus on a specific set of customers. As an outcome of the transformation, the new Mphasis brand represents innovation, imagination and unlimited possibilities. We are launching a new Mphasis that will leverage our transformation journey and deliver cutting edge solutions in emerging areas such as Digital Market place, said Ganesh Ayyar, CEO, Mphasis.
Motorola, Flipkart launch Android phone Moto G
Flipkart Internet , Indias largest e-commerce marketplace, and Motorola Mobility on Wednesday launched Moto G, an Android smartphone, in India. Moto G will be available to consumers in India exclusively through Flipkart from Thursday, the company said in a statement. Moto G is priced for the Indian market at R12,499 (8 GB) and R13,999 (16 GB).
IMFA export earnings rise 26% to R286 crore
Indian Metals & Ferro Alloys (IMFA) has achieved a 26% increase in its export earnings to R286.13 crore worth of forex in the third quarter of the current fiscal ended December 31, 2013. The export earning was R225.32 crore during the corresponding period last fiscal. Revenue increased by 17% to R364.06 crore against R311.50 crore during the Q3 of the last fiscal. However, the net profit declined by 27% to R10.98 crore against R15.06 crore posted during the September-December quarter of last fiscal. During the first nine months of the fiscal, the export increased by 19% to R809.38 crore, revenue by 11% to R993.69 crore. The net profit, however, slipped by 46% to R35.17 crore from R65.28 crore posted during the same period last fiscal.
Steel Exchange to get more gas from ONGC
Steel Exchange has informed the BSE that ONGC has now allocated an additional 15,000 SCMD (standard cubic metres per day) of gas to the company for its captive power plant at Kothapeta in AP. The gas will be supplied from ONGCs Kammapalem field, Rajahmundry Asset on fall-back basis in pursuant to the ministry of petroleum & natural gas guidelines for allocation of gas from small/isolated fields and marginal fields. The total gas allocation now stands at 75,000 SCMD per day. SEIL has facility to generate upto 12 MW of power at its Kothapeta plant. Presently, SEIL is supplying the unutilised power up to 9 MW to APTRANSCO.