Steel prices in India have been at an all-time high over the last few months following supply shortages in Australian coking coal

New Delhi: The price of  rebars, hot-rolled coils and cold-rolled coils – are set for a hike this month pushing the costs of automobiles and home construction upwards.

While rebars and hot-rolled coils are expected to see around ₹3,000 per tonne price hike (up 2-2.5 per cent), steel-mills have asked for ₹10,000–11,000 per tonne price hike from automakers during contract negotiations.

Steel prices in India have been at an all-time high over the last few months following supply shortages in Australian coking coal. Floods in Australian mines  and surge in  other input costs like iron ore, coal, refractories, graphite electrodes, and energy costs  are said to be the reason for the rise in prices.

Steel Ministry had earlier asked Indian steel mills to offer discounts to MSMEs. Accordingly, around ₹2000–3000 per tonne as discount was offered to small scale industries .

The post Cars and home construction to become costlier in the wake of the rising steel prices appeared first on The Gulf Indians.

NEW DELHI: Petrol and diesel prices were hiked by 80 paise a litre each, taking the total increase in fuel rates in the last 10 days to ₹ 6.40 per litre. On Thursday, the Congress launched its nationwide protest on the issues of inflation and fuel price hike. Senior party leader Rahul Gandhi is expected to lead the party’s protest at Vijay Chowk in Delhi.

Petrol in Delhi will now cost ₹ 101.81 per litre as against 101.01 per litre on Wednesday while diesel rates have gone up from 92.27 per litre to 93.07 per litre today, price notification of state fuel retailers showed.

In Mumbai, the petrol and diesel prices per litre reached ₹ 116.72 and ₹ 100.94 respectively after prices were increased by 84 paise each.

In Chennai, the price of petrol is ₹ 107.45 after an increase of 76 paise per litre while diesel is priced at ₹ 97.52 after being increased by 76 paise per litre today.

In Kolkata, the price of petrol is ₹ 111.35 a litre (increased by 83 paise) and diesel is ₹ 96.22 per litre (increased by 80 paise).

This is the ninth increase in prices since the ending of a four-and-half-month long hiatus in rate revision on March 22.

There had been a pause in the revision of fuel prices since November 4 last year, which was broken on March 22, after crude oil going upwards following Russia’s invasion of Ukraine.

The post Congress to protest against runaway fuel prices appeared first on The Gulf Indians.

Petrol in Delhi will now cost Rs.100.21 per litre
as against Rs 99.41 previously

NEW DELHI: Petrol price on Tuesday crossed Rs 100 a litre mark after rates were hiked by 80 paise a litre and 70 paise in case of diesel, taking the total increase in rates in one week to Rs 4.80 per litre.

Petrol in Delhi will now cost Rs.100.21 per litre as against Rs 99.41 previously while diesel rates have gone up from Rs.90.77 per litre to Rs.91.47, according to a price notification of state fuel retailers.

Rates have been increased across the country and vary from state to state depending upon the incidence of local taxation.

This is the seventh increase in prices since the ending of a four-and-half-month long hiatus in rate revision on March 22. On the first four occasions, prices were increased by 80 paise a litre – the steepest single-day rise since the daily price revision was introduced in June 2017. On the following days, petrol price went up by 50 paise and 30 paise a litre while diesel rose by 55 paise and 35 paise a litre.

In all, petrol and diesel prices have gone up by Rs.4.80 per litre.

The post Petrol crosses Rs.100 in Delhi after 80 paise hike appeared first on The Gulf Indians.

The Sensex was down 283 points or 0.49% at 57705.61, and the Nifty was down 78.2 points or 0.45% at 17237.3. Of the 3,476 stocks traded on the BSE, there were 1,834 declines; 1,508 advances and 134 stocks were unchanged.

The post Indices near day’s low with Nifty around 17,200 appeared first on The Gulf Indians.

The world’s largest e-commerce company Amazon has launched online car rental services in the UAE under Amazon home services. It will provide car rentals for clients in Dubai, Abu Dhabi, Sharjah, Ajman and Ras Al Khaimah.

The rates for rentals are as low as Dh44 per day. The rentals can be a day or up to a month; the deliveries will be made directly to the selected address as quickly as three hours from the time of online booking. Amazon Home Services will not charge a security deposit.

“Amazon Home Services gives them [customers] an alternative option to traditional car hire, eliminating the hassle of queuing, having to travel to get their rental car, or paying a hefty security deposit,” said Amine Mamlouk, Amazon Middle East and North Africa (MENA) executive.

Users of amazon.ae can choose ‘automotive services’ under the online retailer’s Home Services option. The service can also be accessed by searching for ‘car rental service’ under the search option on amazon.ae.

Amazon Home Services team will ask for the user’s Emirates ID, driver’s licence, visa page of passport as well as a credit card to secure the car rental bookings.

“Within a couple of steps and a short three-hour wait time, customers can have the car of their choice delivered directly to their doorstep, all from the comfort of their own home,” said Mr Mamlouk.

Home Services umbrella in the UAE has a wide array of services such as house cleaning, pest control, plumbing, curtain cleaning, men’s haircut and cat grooming.

The post Amazon launches car rental in UAE appeared first on The Gulf Indians.

Visual upgrades include a new grille that gets silver-finish on the grille mesh along with a chunky chrome accent in the centre. The model also gets new dual-tone exteriors with a contrast roof. The exterior changes are more of a nip and tuck to lend a fresh look while retaining most of the elements from the older model.

Shashank Srivastava, Executive Director – Marketing & Sales – Maruti Suzuki India Limited, said, “Since its launch in 2005, Swift has revolutionised the premium hatchback segment in India. Swift with its sporty performance, upright stance and unmistakable road presence emphasizes individuality that stands out from the crowd. This ‘coming of the age’ car was designed keeping in mind the evolved preferences of the modern-day customer. Over the years, Swift has earned the warmth of nearly 2.4 million customers. The new Swift takes this legacy a notch higher with a new powerful K-series engine, sportier dual-tone exterior, best-in-class fuel efficiency and enhanced safety features. We thank our customers for their unwavering support throughout and are confident that the new Swift will also win the appreciation of our customers.”

There is a new powertrain as well with the older 1.2-litre K-Series motor replaced with the new-generation 1.2-litre Dual Jet VVT petrol engine that is also seen on the Baleno hatchback. The new engine also comes with increased power output, up from 82 bhp to 88 bhp at 6000 rpm and 113 Nm of peak torque at 4200 rpm. The new engine gets Idle Start Stop (ISS) technology for enhanced efficiency, while it also gets Dual VVT and Exhaust Gas Recirculation (EGR) system that help achieve lower emissions. As a result, the new Swift is now more fuel-efficient and claims an ARAI certified 23.20 kmpl on the manual and 23.76 kmpl on the AMT version.

Regarding features, the new Swift facelift comes with cruise control, key synchronised auto foldable ORVMs, revised twin-pod instrument cluster with a 4.2-inch MID coloured TFT display. There’s a new 7-inch touchscreen infotainment system with SmartPlay Studio that offers better usability with Apple CarPlay and Android Auto.

On the safety front, the model now comes with Electronic Stability Program (ESP) with Hill-Hold on the AMT versions, bigger brakes at the front and rear, as well as revised steering with a better return-ability mechanism. Other features include dual airbags, ABS with EBD, pre-tensioner and force limiters, seatbelt reminder for the front seats, ISOFIX anchors, reverse parking sensors with camera and more.

The post Suzuki Swift gets a facelift appeared first on The Gulf Indians.

The new Safari builds on the legacy of prestige and outstanding performance; by combining Tata Motors’ Impact 2.0 design language with the proven capability of OMEGARC, an architecture derived from the renowned D8 platform from Land Rover, which in itself is the gold standard of SUVs worldwide.

The flagship SUV gets a starting price of ₹ 14.69 lakh and go up to Rs 21.45 lakh (introductory prices, ex-showroom, Delhi). The Indian carmaker also introduced a special variant – ‘Adventure Persona’ which is priced from Rs.20.20 lakh (ex-showroom, Delhi). Last month, the Indian carmaker announced that it would be resurrecting the legendary ‘Safari’ nameplate for the Gravitas concept, which was revealed at the Auto Expo 2020. Banking on the huge buzz, it was unveiled in India on 72nd Republic Day.

The company is already accepting bookings for the new Safari, which can be booked across all authorised dealerships with a token amount of Rs.30,000.

The post Tata Safari is back in a new avatar appeared first on The Gulf Indians.

The manufacturer will spend more than £720m revamping its factory in Cologne, Germany, its president announced during an online news conference on Wednesday.

Stuart Rowley said Ford of Europe had struck a deal with Volkswagen to use the German company’s renowned mechanical framework – the same one that built VW’s ID.3 compact, one of 2020’s best-rated small electric vehicles (EVs).

Ford’s new electric car will reach the market in mid-2023 and could be followed by a second one soon after. It is all part of Ford’s goal to spend at least $15bn (£10.8bn) on EVs from now through 2025.

Carmakers in Europe are under pressure to sell more EVs to meet new, lower limits on emissions of CO2 – the main greenhouse gas blamed for global warming – as part of the bloc’s efforts to comply with the 2015 Paris Agreement.

As of January 2021, the EU fleet-wide average emission target for new cars is 95g CO2/km, which corresponds to fuel consumption of around 4.1L/100 km of petrol or 3.6L of diesel.

Hefty fines face car brands within the EU who fail to keep their average emissions below the new limit, but Mr Rowley said earlier Ford was in a position to avoid such penalties moving forwards.

“We are going all in on electric vehicles,” Mr Rowley added, as it was revealed Ford expects two-thirds of its European commercial vehicle sales to be electric or plug-in hybrids by 2030.
The investment into the company’s Cologne factory – which will be made throughout 2025 – is among the most significant Ford has made in more than a generation, underlining “our commitment to Europe and a modern future,” Mr Rowley said.

It also comes at a good time for the German plant itself, which employs just over 4,000 workers, after its European operations returned to a profit in the fourth quarter of 2020 after the damaging effects of coronavirus.

Mr Rowley shared the news just weeks after Ford’s biggest rival, fellow US automaker General Motors, said its entire global fleet would largely be electric by 2035.

Such changes in the auto industry will only become more frequent as world leaders begin enforcing various climate action plans to achieve net-zero emissions by 2050 – a goal shared by economic powers such as the EU, UK, US, Japan and Korea.

China has pledged to do the same by 2060.

The post Ford to go ‘all electric’ in Europe by 2030 appeared first on The Gulf Indians.

“American car company Tesla will set up its electric car division in Karnataka,” Yediyurappa said in a statement. On 12 January, Yediyurappa had tweeted from his official handle that Tesla would start its operations in India with an R&D unit in Bengaluru.

Breaking his silence after the news broke that Tesla has finally entered India by registering it as a company in Bengaluru, its CEO Elon Musk said on January 13 that he is on the way to fulfil his promise to let electric cars run on the roads of India. ‘

Reacting to his 41.2 million followers, Musk tweeted on making India his next destination: “As promised”. The world’s richest man was replying to a tweet linked to a blog post on the Tesla fan site, Tesmanian, which noted that Tesla cars will be expensive for Indians but the cars will become more affordable for the country’s middle class when the company starts production within India.

According to reports Tesla would open pre-bookings for its Model 3 vehicle and the deliveries would be made by June. It is unlikely that the company will stitch partnerships with dealerships to sell its car.

Even though the Model 3 is one of Tesla’s more affordable cars, it will not be cheap in India and arrive as completely built units (CBU) with a high import duty charge. While there is no confirmation on the pricing, reports suggest that one Tesla Model 3 will cost Rs 55 lakh in India.

The post It’s official. Tesla to set up manufacturing unit in India appeared first on The Gulf Indians.

This took petrol price to an all-time high of Rs.88.14 a litre in Delhi and to Rs.94.64 in Mumbai.
Diesel rates rose to Rs 78.38 per litre in the national capital and to an all-time high of Rs 85.32 in Mumbai.

In four days, prices have gone up by Rs.1.21 per litre for petrol, while diesel has risen by Rs.1.25 a litre.

Oil Minister Dharmendra Pradhan had told Parliament that the government is not considering a reduction in excise duty to cool rates from their record highs.

Rates have risen as international oil prices touched $61 per barrel for the first time in more than a year on improving demand outlook amid the global rollout of COVID-19 vaccines, he had said.

Central and state taxes make up for over 61 per cent of the retail selling price of petrol and about 56 per cent of diesel.

Retail petrol rates have risen by Rs.18.57 per litre since mid-March 2020, after the government raised taxes by a record margin to mop up gains arising from fall in international oil prices. Diesel rates have gone up by Rs.16.09.

The post Not again! Fuel prices go up appeared first on The Gulf Indians.

The stock is currently trading at a very reasonable level. Gabriel India’s share price is 30 times the share earnings per share. At the same time, the ratio of share price to earnings per share of companies in this sector is on average 52. It is clear from this that Gabriel India is less expensive compared to other companies in the sector. Gabriel India’s revenue is better than other companies.

Gabriel India has posted a net profit of Rs.26.57 crore in the second quarter of the current financial year. Profit growth was 23% compared to the same period last year. Revenue rose to Rs.471 crore from Rs.390 crore.
Gabriel India’s two-wheeler segment is expected to account for 55 per cent of its revenue. The passenger vehicle segment is expected to contribute 32 per cent and the commercial and railway segment 13 per cent.
The potential for strong growth in the automobile industry also paves the way for Gabriel India’s business to improve. Gabriel India will benefit from the launch of new models from automakers. In general, automobile companies are expected to perform well in 2021. Gabriel also looks forward to India’s performance.

For the past two years, the company has been able to reduce maintenance and repair costs. A debt-free, large-scale company may not need to take out a loan if it needs expansion operations. Gabriel India is a stock worth considering for long-term investors. The stock price is likely to rise to Rs 146 in the next financial year.

The post Gabriel India benefits from boom in auto market appeared first on The Gulf Indians.

Deloitte India Partner and Financial Services Industry Leader Sanjoy Datta said the announcement to raise the FDI cap in the sector was a much-awaited move by the government. It is in direct recognition of the requirement for significant capital inflows to provide adequate levels of insurance cover to the population, he added.

The proposed increase in FDI would also likely result in increased value for customers by way of more product options at reduced costs, he said.

“We see a possibility of select foreign partners in existing insurance JV’s (joint venture) seeking to increase ownership levels, attractive valuation for exits for existing investors (domestic and foreign) as well as the entry of new investors who prefer majority equity holding in the entity,” he said.

Finance Minister Nirmala Sitharaman in her Budget Speech 2021 proposed to amend the Insurance Act, 1938, to increase the permissible FDI limit from 49 per cent to 74 per cent in insurance companies and allow foreign ownership and control with safeguards.

Shardul Amarchand Mangaldas & Co. Partner Shailaja Lall said a more liberal FDI policy will certainly attract higher amounts of foreign capital, which will aid in increasing insurance penetration in India.

“While this is a welcome move by the government, foreign investors will certainly view this development with ‘a pinch of salt’ and like to take a cautious approach. Much will depend upon the fine print of the conditions being proposed,” Lall said.

She said that once there is more clarity, it will need to be seen as to how many foreign investors are willing to infuse capital, without the ability to control the board.

“Any conditionality and regulatory approvals attached to payment of dividends to foreign investors may add another level of complexity. It is possible that the Irdai may also prescribe certain conditions to safeguard policyholder moneys,” she said.

The post FDI cap hike to raise insurance penetration appeared first on The Gulf Indians.

In 2020, the model has also crossed the cumulative sales milestone of 23 lakh units since its launch in 2005. It crossed the 5 lakh milestone in 2010, 10 lakh in 2013 and 15 lakh in 2016, the company said in a statement.

Commenting on the milestone, Maruti Suzuki India Executive Director (Marketing & Sales) Shashank Srivastava claimed that “Swift has been the best-selling premium hatchback in the country for the past 15 years with over 2.3 million delighted customers.”

He further said, “Despite the adverse impact of COVID-19, brand Swift sold over 1,60,700 units in CY 2020, emerging as the top brand in the pecking order.”

The company said more than 53 per cent of Swift customers are below the age of 35 years, thus establishing the model as “the ‘coming of the age’ car with its tech-savvy features, value-for-money offerings and sporty design”.

The post This car becomes the best seller of 2020 amid pandemic slowdown appeared first on The Gulf Indians.

According to the Registrar of Companies ( RoC), the new entity is classified as a subsidiary of a foreign company. Tesla has also named Vibhav Taneja, Venkatrangam Sreeram and David Jon Feinstein as three directors in the newly formed company in India.

However, there is no clarity as to what the company will be focusing on- R&D, sales or manufacturing.

Elon Musk has hinted last year that Tesla would start selling its cars in India in 2021. Union road transport and highways minister Nitin Gadkari had said in December that Tesla will commence sales in India in 2021, and would evaluate assembly or manufacturing based on the market response it receives.

The post Tesla officially enters India appeared first on The Gulf Indians.

Carmakers are required to provide an airbag only for the driver, though officials have been talking about the need to improve safety.

All new models manufactured from April 1, and existing models made from June 1, will have to meet the new guideline if approved, the Ministry of Road Transport and Highways said in the notification dated December 28.
It asked for suggestions and objections from the public within 30 days from Tuesday before the rule is implemented.
The ministry has sought public consultation for the draft notification.

“Comments/ suggestions are solicited from all stakeholders at the following email address: comments-morth@gov.inwithin 30 days from the date of notification,” the ministry said.

The government’s proposal to make dual front airbags mandatory will lead to an increase in price, and vehicle manufacturers should absorb the major hike in costs to prevent impact on sales, the Federation of Automobile Dealers Associations (FADA) said,

The post Dual front airbags likely to be made mandatory in India soon appeared first on The Gulf Indians.

Indian Oil Corporation (IOC) has launched the world’s first 100 octane premium petrol. Federal Oil, Natural Gas and Steel Minister Dharmendra Pradhan has unveiled a new premium petrol brand called XSP100.

Tarun Kapoor, Secretary, Oil and Gas, Srikanth Madhava Vaidya, Indian Oil Chairman, Dr. SSV Ramakumar, Indian Oil R&D Director, and Gurmeet Singh, Marketing Director, Indian Oil, were present.

Octane petrol is available in only a few countries globally, the Minister said. The XSP100 was launched with the aim of providing the best energy service to all.

The new petrol was developed by scientists using indigenous technology. The minister said the new product is also part of the Atmanirbhar Bharat initiative.

Designed for luxury cars and motorbikes, the XP100 is an ultra-modern, ultra-premium product, said Mr. Vaidya. It gives the vehicle high power and excellent performance.

The XP100 premium grade petrol is manufactured at the Mathura refinery using Octa Max technology developed by the company.

91 octane petrol is currently available in India. 100 octane petrol offers faster acceleration, better driving and fuel efficiency. The new product comes with IS 2796 specification. 100 octane petrol is available in only six countries, including Germany and the United States.

The post IOC launches 100 octane petrol appeared first on The Gulf Indians.

Fuel prices were hiked on December 3 by the oil marketing companies after a two day pause.
Petrol price in Delhi was hiked by 17 paise to Rs 82.66 a litre while diesel prices were increased by 19 paise to Rs 72.84 per litre, according to notifications from Indian Oil Corporation.
While in Delhi the prices of petrol and diesel were Rs.82.66 and Rs.72.84 respectively, they were Rs.89.33 and Rs.79.42 respectively in Mumbai, Rs.85.59 and Rs.78.24 respectively in Chennai and Rs.84.18 and Rs.76.41 respectively in Kolkata
Rates differ from state to state depending on the incidence of VAT. Taxes make up for nearly two-third of the retail selling price.

The post Diesel, Petrol prices hiked again appeared first on The Gulf Indians.

Although car insurance companies offer lower premiums, it is important to check whether such policies provide adequate coverage. The insured declared value (IDV) of the car may decrease as the premium decreases. This can lead to a decrease in insurance coverage.

The sum insured amount of a car insurance policy is the declared value of the car’s insurance. Claims are settled on the basis of the amount insured by the car in the event of a car being stolen or damaged beyond repair. So the car owner should not focus on taking a low premium policy. The premium should be compared only after ensuring adequate insured declaration value.

A comprehensive car insurance policy covers two types of risks. The first coverage is for damage to the car. The second is coverage in the event of damage to another vehicle or accident to another person while driving. The premium for the second coverage is determined by law. At the same time the premium for the first coverage is determined based on the car’s insured declared value. That is why the car’s insured-declared value comes into play when taking out and renewing a car insurance policy.

When buying a new car, the insured declared value is determined based on the selling price. The insured declared value of a new car is determined after deducting the depreciation rate from the ex-showroom price. Normally, the depreciation rate of new cars is 5%. That is, the maximum insurance for a new car will be 95% of the declared value added to the showroom price.

As soon as the car exits the showroom, the depreciation rate increases and the insured declared value decreases. Every year the value of the insured car decreases at a fixed rate. One year after buying the car, the insured declared value decreases by 15 per cent. In subsequent years it decreases by 20 per cent, 30 per cent and 40 per cent. Five years after the purchase of the car, the insured-declared value will be only 50 per cent of the purchase price.

The Insured Declared Value is determined by the depreciation rate each time the premium is renewed. At the same time, the owner has the opportunity to determine the insured declared value of the car on his own. Each insurance company has set a lower limit and a higher limit for IDV, which can be determined in this way. Premium will also change according to IDV. As IDV decreases, the premium decreases.

A claim equal to IDV is determined in two circumstances. IDV can be fully claimed if the car is stolen or 75 per cent damaged in an accident that cannot be repaired. If the car is stolen, the claim is not settled immediately. If the car is not found during the police investigation, the claim will be settled only after a few months. Similarly, if the car breaks down beyond repair, 75 per cent of the damage will be found only if the inspection by special agents reveals that the IDV will receive an equivalent claim amount.

The IDV for cars older than five years is determined by mutual agreement between the car owner and the insurance company. Damage coverage for such cars is generally higher.

In short, car owners need to understand that it is advisable to set a sufficient IDV, even if the premium is slightly increased, in order to get adequate coverage for the car, even if the IDV is reduced.

The post Don’t try to save on car insurance premium appeared first on The Gulf Indians.

In a bid to promote electric mobility in the country, Indian Oil Corporation Ltd. has successfully conducted a “Proof of Concept” feasibility study on “Zero-Emission Electric Mobility” at one of itsfuel stations in Bengaluru.

Zero-Emission Electric Mobility is a concept that allows the electric vehicle (EV) to charge using solar power thereby ensuring zero emissions. The EV charging system has been designed by M/s. Hygge Energy, a start-up incubated by Tech Mahindra, and has three main features – EVs are charged using solar power, no upgrades are required in grid infrastructure, and grid resilience is improved by the system’s architecture, especially in remote areas.

Speaking on this novel breakthrough, Mr. Vigyan Kumar, Executive Director (Retail Sales), IndianOil, said, “As part of IndianOil’s foray into alternative energy, we have already set up 54 battery charging / swapping stations for electric vehicles in partnership with various companies. We have also taken a minority stake in Phinergy ofIsrael to set up Aluminium-Air battery manufacturing facility in India for electric vehicles & stationary applications. Given the challenges of grid capacity and reliability amid the uncertainty of EV adoption, we are committed to finding an integrated solution to ensure green power for EV charging at our fuel stations. This innovative solution developed by Hygge Energy, has demonstrated feasibility to address these issues. We will conduct pilot studies at more fuel stations across Bangalore. This solution is unique as it leverages the existing investment made by us in solarising our fuel stations and gives us a good basis to roll-out our EV charging initiative”, he added.

The technology enables intelligent electric-vehicle charging using “hybrid microgrids”. Hybrid microgrids are created by integrating existing grid infrastructure with solar PV batteries. Zero Emission Electric Mobility is a highly adaptable system that employs artificial intelligence and the Internet of Things (IoT) to ensure that charging requirements are primarily met with renewable energy from these hybrid microgrids, thereby providing 100% clean energy e-mobility. This also prevents additional load which electric vehicle supply equipment would exert on power distribution transformers that feed fuel stations. As a result, clean energy e-mobility can be accommodated without the need for additional investments in grid infrastructure.

A hallmark of IndianOil’s clean energy agenda is its renewable energy portfolio of 226 MW (168 MW of wind-power capacity and 58 MW of solar photo-voltaic capacity). Together, they generated 393 million units of electricity during 2019-20, equivalent to emission mitigation of 322 TMT of carbon dioxide (TMTCO2e) and 5% of the Company’s electricity consumption.

Besides a target to scale up its solar energy and wind-power portfolio, IndianOil has initiated diversification into alternative, renewable energy and bio-fuels – 2G & 3G ethanol, waste-to-energy and compressed bio-gas (CBG). Nearly 16,700 (over 55%) IndianOil fuel stations have already been converted to operate on solar energy with a cumulative installed capacity of over 92 MW.

During 2019-20, IndianOil took a significant step in promoting use of bio-fuels in the country with commencement of sale of Compressed Bio Gas (CBG) under the SATAT scheme (Sustainable Alternative Towards Affordable Transportation) that was launched in October 2018. IndianOil is selling CBG, under the brand name IndiGreen, in Pune and Kolhapur. IndianOil has also issued Letters of intent (LoIs) to entrepreneurs to set up 295 CNG plants across the country to produce 0.6 MMTPA CNG under this scheme.

IndianOil is in the process of setting up a 2G-ethanol production plant of 100 kl per day capacity at Panipat (based on lignocellulosic conversion of agricultural residue) with paddy straw as feedstock. A bio-fuels complex with a CBG production plant for conversion of 200 tonnes per day of bio-waste is also coming up near Gorakhpur.

IndianOil is also working on converting used cooking oil (UCO) to bio-diesel, for which, LOIs have been issued to entrepreneurs for setting up seven plants with an annual cumulative capacity of 12.16 crore litres of bio-diesel from UCO.

The post IndianOil successfully tests “Zero-Emission Electric Mobility” technology appeared first on The Gulf Indians.

Sales of new cars in India have been on the rise in the last few months. Used car sales are also growing by 15-18 per cent. According to various banks, bank lending for used cars has increased by 12 per cent to 18 per cent.

There are a few things to keep in mind before buying a used car. If you are buying a used car with a loan, you need to be extra careful.

The first thing to do before buying a used car is to check all the documents carefully. Make sure the registration certificate (RC) is in the name of the person selling the car. Banks and financial institutions give out loans only after verifying the authenticity of the car’s records. In addition to checking the records, they will also evaluate the car according to their own criteria.

The value of a car is determined by factors such as its use, the number of times ownership has been transferred, and mileage. Pricing is not based on car age alone. For example, if the mileage of a one-year-old car exceeds 50,000 km, the use of another car of the same model with the same age may be only 10,000 km and so the price of the two will be different.

Cars over 10 years old are generally not subject to credit. Similarly, most lenders will pay off the loan by the time the car is 10 years old. For example, a car that is seven years old can get a maximum loan of three years. Some banks specify that the car can be up to eight years old.

The interest rate on a used car loan is higher than the loan on a new car. This is between 2 per cent and 5 per cent higher in different banks. Considering this, you have to decide whether to take a loan to buy a used car or not. If you have a good credit score, you can ask for an interest reduction.

The post Things to consider when taking out a loan for a used car appeared first on The Gulf Indians.

Now the world’s first commercial flying car is all set to hit the roads and hopefully the skies too.

PAL-V, the Dutch company involved in the making of the first flying car, has announced that its Liberty vehicle has been approved for road usage in Europe. Notably production in India is likely to begin next year.

The development has paved the way for a future not too far-fetched where spotting flying cars could just be ordinary.

PAL-V’s Liberty, a compact two-person aircraft that can travel on public roads, recently cleared stringent European road admission tests.

It is now allowed to hit the streets with an official license plate.

As the world’s first flying car, the Liberty starts with an entry-level price tag of $399,000, which is close to Rs. 3 crore in the Indian currency.

Powered by dual engines, the Liberty can reach a maximum speed of 160 kmph in drive mode, with the ability to accelerate from 0-100 kmph in under nine seconds. It has a range of 1,315 kilometers.
In flight mode, the Liberty can reach a maximum speech of 180 kmph and has a range of 500 kilometers.

PAL-V Chief Technology Officer (CTO) Mike Stekelenburg said in a statement, “The trick in successfully making a flying car is to ensure that the design complies with both air and road regulations.”

Stekelenburg added, “We have been cooperating with the road authorities for many years to reach this milestone… It was very challenging to make a ‘folded aircraft’ pass all road admission tests.”

PAL-V has also signed a Memorandum of Understanding (MOU) with Gujarat to establish a plant in India. Production in India is likely to commence in 2021. Reportedly, production models from Gujarat will be exported to several European countries.

The post Flying cars is going to be a reality sooner than you expected appeared first on The Gulf Indians.