Jet Airways missed paying $109 million loan: Report
MUMBAI: Troubled Jet Airways India Ltd. missed a $109 million loan repayment due to HSBC Bank this week, people with knowledge of the matter said. The money was due on March 28, and was part of a two-tranche facility totaling $140 million that the company took from HSBC in 2014, according to the people, who […]
Alstom bags Rs 700 crore contracts from Mumbai, Pune metros
MUMBAI: Rail transportation major Alstom has bagged Rs 700 crore contracts to the Mumbai and Pune metros, under which it will supply communication-based train control technology to three upcoming lines in the megapolis and two upcoming lines in second largest city in the state. The Rs 700-crore contracts include equipping the Mumbai metro lines 2A […]
We will ‘remonetise’ what Narendra Modi ‘demonetised’, says Rahul Gandhi
By Sanjeev Chopra NEW DELHI: Congress President Rahul Gandhi on Thursday said the ‘Nyay’ scheme will remonetise what Prime Minister Narendra Modi demonetised and asserted that his party’s anti-poverty programme has thrown the BJP into total disarray. In an exclusive interview to PTI ahead of the 17th general election beginning April 11, Gandhi said the […]
BMW unveils Chennai-made 530i M Sport, priced at Rs 59 lakh
CHENNAI: German luxury carmaker BMW on Thursday launched 530i M Sport in India, priced at Rs 59.2 lakh (ex-showroom). The model now comes with a petrol engine, is locally produced at Chennai and is BS-VI compliant, BMW said in a statement. The company already sells diesel variant of the model in the country. The 530i […]
Hughes bags Rs 40 crore project from BSNL
NEW DELHI: Hughes Communications India said that it has bagged satellite bandwidth connectivity project worth Rs 40 crore from State-run BSNL to upgrade connectivity in Andaman and Nicobar Islands and Lakshadweep. The project addresses growing bandwidth demand in these island regions located beyond the reach of terrestrial technology. Installing fiber or cable is challenging in […]
India’s real estate stock to reach 3.7 trillion sq.ft. in 2019
NEW DELHI: CBRE South Asia said that India continues to retain its position as the world’s fastest growing major economy, on the back of improved investor confidence and better policy reforms its Real Estate Market Outlook 2019 – India. The IMF’s database also suggested that India’s contribution to world growth has increased from 7.6% during […]
UPS Madan new Maharashtra chief secretary
MUMBAI: Senior bureaucrat and incumbent Maharashtra Additional Chief Secretary (Finance) UPS Madan will be the next Chief Secretary of the state. Chief Minister Devendra Fadnavis confirmed Madan’s appointment with PTI. Madan will succeed incumbent chief secretary D K Jain, who was on extension. Jain, who was due to retire in January this year, was given […]
Jet Airways’ new investor needs to bring Rs 4,500 crore capital: SBI official
NEW DELHI: A new investor in the cash-strapped Jet Airways will have to bring in about Rs 4,500 crore capital for running the airline, according to a senior SBI official. State Bank of India (SBI), which is the leader of the group of 26 lenders, will next month invite Expression of Interest from buyers willing […]
Another blow to Boeing: Airbus bags $35 billion China deal for 300 jets
By Benjamin Katz Gregory Viscusi & Helene Fouquet Airbus SE secured a $35 billion jet deal from China during a state visit by President Xi Jinping to the French capital, dealing a fresh blow to Boeing Co. as it grapples with the grounding of its best-selling jet. The mammoth order consists of 290 A320-series narrow-body […]
Government refuses to reveal details on RBI Governor Shaktikanta Das appointment
NEW DELHI: The government of India has refused to share details related to the appointment of RBI Governor Shaktikanta Das citing a clause in the transparency law which bars disclosure of information, including “records of deliberations of the council of ministers, secretaries and other officers”. Replying to an RTI query, it declined to share the […]
South Indian Bank to raise Rs 250 crore via bonds issue
NEW DELHI: South Indian Bank on Tuesday said it would raise Rs 250 crore by issuing Basel III-compliant bonds to add up to its tier-II capital. The capital planning and infusion committee of directors Tuesday accorded approval to allot Basel III-compliant debt instruments qualifying as tier-II capital of the bank, South Indian Bank said in […]
ITC sells brand John Players to Reliance Retail
NEW DELHI: Conglomerate ITC Tuesday said it has sold its menswear brand John Players to Reliance Retail for an undisclosed amount. Besides, the Kolkata-based firm has also transferred the trademark as part of the deal. “In line with this ongoing restructuring, ITC has sold the brand John Players and related trademarks and intellectual property, and […]
Uber to buy Mideast rival Careem for $3.1 billion
DUBAI: Global ride-hailing service Uber will acquire its Middle East rival Careem for 3.1 billion, the two companies announced on Tuesday. “Careem and Uber are joining forces. We have reached an agreement in which Uber will acquire Careem for 3.1 billion,” a joint statement said. Under the deal, Careem will become a wholly owned subsidiary […]
Pakistan receives USD 2.1 billion from China
By Sajjad Hussain ISLAMABAD: Pakistan on Monday received USD 2.1 billion from its all-weather ally China to help it in making international payments mainly on import and debt repayment counters. Finance Ministry Spokesperson Khaqan Hassan Najeeb said the funds deposited in the State Bank of Pakistan would strengthen the stability of the country. “Deposit of […]
Rahul Gandhi promises min income scheme; 20 per cent families to get Rs 72,000 annually
NEW DELHI: In a big poll promise that he described as a “groundbreaking” measure to end poverty, Congress chief Rahul Gandhi on Monday said 20 per cent families in poorest of the poor category will be given Rs 72,000 each annually as a minimum income. Making the announcement at a press conference here, Gandhi said, […]
Naresh Goyal’s resignation a wake-up call for policymakers: SpiceJet chief
NEW DELHI: SpiceJet chief Ajay Singh on Monday said that it was a “sad day” for Indian aviation as Naresh Goyal and his wife Anita Goyal stepping down from the board of Jet Airways. Naresh Goyal is the Founder and Chairman of Jet Airways, a full-service airline that has been flying for more than 25 […]