Thursday, September 24
European Commission President Ursula von der Leyen survived a no-confidence vote in European Parliament on Thursday, tabled by mainly far-right lawmakers who said she and her team undermined trust in the EU through unlawful actions. As expected, the motion failed to get the two-thirds majority it needed to pass. Romanian nationalist Gheorghe Piperea, the lead sponsor of the motion, had criticised among other things the Commission's refusal to disclose text messages between von der Leyen and the chief executive of Pfizer during the COVD-19 pandemic.Read more: EU chief von der Leyen faces confidence vote; Hungary's leader says she must go "The decision-making has become opaque and discretionary, and raises fears of abuse and corruption. The cost of obsessive bureaucracy of the European Union
Indian Oil Corp plans to shut its 300,000 barrels-per-day diesel desulphuriser unit at its Panipat refinery for an upgrade aimed at producing sustainable aviation fuel (SAF) next year, Arvind Kumar, its head of refineries, said on Thursday. The overhaul of the diesel unit is scheduled for late this year or early next year, Kumar told an industry event in New Delhi. India aims to have 1% sustainable aviation fuel (SAF) in aviation fuel by 2027, doubling to 2% in 2028. The refinery's diesel output would not be hit due to the shutdown as the refiner has additional diesel hydrotreaters at the Panipat site. The upgraded unit will process used cooking oil (UCO) to produce 30,000 metric tons per year of SAF, he said. Indian Oil, the country's largest refiner, will also look at upgrading some ker
Shares of Prime Focus, the post-production and visual effects company behind the upcoming film Ramayana, have surged more than 90% since April amid growing investor excitement around the high-profile project.The stock touched Rs 163.1 in Thursday’s trade, up from Rs 85 in April, and has already gained 17.5% in July so far.The rally intensified after the teaser of Ramayana was released on July 3. The stock rose 10% the following day to hit a record high of Rs 175.7, before settling at Rs 165.8.The sharp rise in share price was further fuelled after reports emerged that Bollywood actor Ranbir Kapoor, who plays Lord Rama in the upcoming film, invested in the company behind the production. Following shareholder approval for a preferential equity issuance, Kapoor reportedly acquired 12.5 lakh
