Middle East to require nearly 3,000 new airplanes worth $685 billion by 2039
NEW DELHI: Boeing anticipates demand for 2,945 new airplanes in the Middle East valued at $685 billion over the next two decades, as the industry recovers from the COVID-19 pandemic in the medium and long term. The projection is part of Boeing’s 2020 Commercial Market Outlook (CMO), an annual forecast of 20-year demand for commercial […]
IKEA investment arm in talks to buy city-centre retail property in big European cities
By Anna Ringstrom STOCKHOLM: IKEA’s Ingka Investments is in talks to buy commercial property in prime locations in several big European cities after it finalised its first-ever such acquisition last month, its managing director said. The investment arm of Ingka Group, which owns most IKEA stores, is pushing into the real estate market as part […]
Cairn arbitration outcome may impact India’s stand in Vodafone retrospective tax case
NEW DELHI:The government of India is likely to wait for the outcome of an arbitration initiated against it for levy of over Rs 10,000 crore retrospective tax on Cairn Energy before finalising its stand on a similar tax dispute case with Vodafone Group where a international arbitration court has ruled against it in favour of […]
Goa waives 50% road tax for commercial vehicles
PANAJI: The Goa Cabinet on Wednesday decided to waive 50 per cent road tax levied on commercial vehicles in the state during fiscal 2020-21, in order to compensate owners for the period such vehicles were off roads during the COVID-19 lockdown. “Half of the commercial vehicles’ road tax has been waived till March 31, 2021. […]
South Central Railway transport automobiles from Telangana to Tripura
NEW DELHI: The South Central Railway (SCR) has for the first time transported automobiles from Telangana’s Zahirabad to Tripura. SCR officials said on Wednesday that mini trucks and commercial vehicles were transported to Jirania Railway Station in Tripura in the Northeast part of the country. It is the farthest distance being covered by Railways from […]
Cement to remain strong in 2HFY21 on expected pricing strength
NEW DELHI: The Covid-19 pandemic changed the trend in cement pricing this year. Contrary to historical trends of the lower cement prices QoQ in the third quarter of the calendar year due to softness in the demand owing to the festive season (Diwali) as well as the lower exit prices in Q2 on account of […]
Google Pay not to charge money transfer fee from Indian users
NEW DELHI: Google India on Wednesday clarified that Google Pay which is set to kill the peer-to-peer payments facility on its web app in January along with adding a fee for instant money transfers is specifically for the US market and will not impact its apps in India. The tech giant has released a notice […]
Volkswagen India conducts leadership rejig
NEW DELHI: Auto manufacturer Volkswagen India has conducted an internal rejig of its top leadership. The company on Wednesday said it has strengthened its leadership team with the internal movement of Priyesh Kumar, currently Head of Dealer Development, as the new Head of Sales. P. Ravichandran, currently Head of After Sales, takes over as the […]
RBI’s MPC may keep rates steady in next policy review: Barclays
NEW DELHI: The Central bank is best served by maintaining the policy approach outlined in the October statement, even as it likely acknowledges some optimistic turn in growth indicators and sticky inflation, investment banker Barclays said on Wednesday ahead of the Monetary Policy Committee (MPC) policy review early next month. “We expect the Reserve Bank […]
India to infuse Rs 6,000 crore equity in NIIF Debt Platform
NEW DELHI: The government of India will infuse equity of Rs 6,000 crore into the National Investment and Infrastructure Fund (NIIF) Debt Platform, subject to certain conditions, the Union Cabinet decided on Wednesday. The platform comprises of Aseem Infrastructure Finance Ltd (AIFL) and NIIF Infrastructure Finance Ltd (NIIF-IFL). On November 12, Union Finance Minister Nirmala […]
Covid-19 pandemic: India rejects lockdown possibilities, issues 19 Standard Operating Procedure
NEW DELHI: In the wake of ongoing Covid-19 cases in India, the Ministry of Home Affairs (MHA) on Wednesday issued a 19-point Standard Operating Procedure (SOP) giving nod to states and UTs to impose local restrictions if necessary. The SOPs, part of a month-long guidelines issued by the MHA, will be effective from December 1 […]
CCEA nod to Rs 2,480 crore FDI in ATC Telecom
NEW DELHI: The government of India has approved a proposal involving foreign direct investment of Rs 2,480 crore by ATC Asia Pacific for purchasing about 12 per cent stock of ATC Telecom. The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi has approved the FDI proposal no. 4930 for acquisition of 12.32% […]
Narendar Modi government approves merger of Lakshmi Vilas Bank with DBIL
NEW DELHI: The Narendra Modi government on Wednesday approved the merger of crisis-ridden Lakshmi Vilas Bank (LVB) with the DBS Bank India Ltd (DBIL) with Union minister Prakash Javadekar asserting that there will be no further restrictions on the depositors regarding withdrawals other than the current moratorium. The minister also assured depositors that Rs 20,000 […]
Goa government will reduce coal handling at Mormugao Port Trust
PANAJI: Goa Chief Minister Pramod Sawant on Wednesday said the coal handling at the Mormugao Port Trust (MPT) would be brought down by 50 per cent within a year. The CM’s remarks came against the backdrop of protests against proposed expansion of the national highway linking Goa to Karnataka and double-tracking of the South Western […]
Joe Biden transition OK’d to start as Donald Trump runs out of options
WASHINGTON: The federal government recognized President-elect Joe Biden as the “apparent winner” of the Nov. 3 election, formally starting the transition of power after President Donald Trump spent weeks testing the boundaries of American democracy. Trump relented after suffering yet more legal and procedural defeats in his seemingly futile effort to overturn the election with […]
Q&A: Will Twitter, Facebook crack down on Donald Trump?
By BARBARA ORTUTAY OAKLAND:For the past four years, President Donald Trump has enjoyed the special status of a world leader on Twitter and Facebook, even as he used his perch atop the social media pyramid to peddle misinformation and hurl abuse at his critics. While regular users could have faced being suspended or even booted […]