Naresh Goyal, his wife to step down from Jet Airways board
NEW DELHI: Jet Airways Founder and Chairman Naresh Goyal and his wife Anita Goyal will resign from the board of the crisis-hit airline, according to a regulatory filing. The decision was taken at the airline’s board meeting held here Monday. In a filing to the stock exchanges, Jet Airways said Naresh Goyal, Anita Goyal and […]
Hinduja family richest Asians in Britain, worth 25 billion pounds: Report
NEW DELHI: Leading London-based NRI industrial tycoons, the Hinduja family top the Asian Rich List 2019 for the sixth successive year with an estimated net worth of 25.2 billion pounds, an increase of over 3 billion pounds over the previous year. According to the Asian Rich List 2019 released at the Asian Business Awards here […]
Soon, island-hopping on seaplane in the Andamans will be a reality
NEW DELHI: Seaplane operations will soon be a reality in four islands of Andamans with the opening of its bidding process, under an ambitious project to attract more tourists to the picturesque archipelago, officials said on Sunday. Seventeen islands in Andamans have also been identified for holistic development, that include building infrastructure, to promote tourism. […]
About Rs 3 lakh crore private power investment at risk as discoms delay payments
NEW DELHI: As much as Rs 3 lakh crore of investment in a dozen power plants of the private sector is at risk of turning into NPA as states buying power have not been making payment for months, official data and sources said. According to data available on the PRAAPTI portal of the Ministry of […]
Olialia World launches Vazir Pan Masala in Madhya Pradesh
NEW DELHI: European FMCG Giant Olialia World said that it has launched its signature brand Olialia Vazir Pan Masala in Madhya Pradesh. The owners of Olialia World, Abhishek Verma(Chairman) and his wife Anca Verma (Chairperson -Olialia World & Former Miss Romania Universe) have unveiled rolled out officially in state. In less than six months since its […]
Lupin launches Levothyroxine Sodium tablets in USA
NEW DELHI: Drug firm Lupin on Friday said it has launched generic Levothyroxine Sodium tablets in the USA market. The company has launched Levothyroxine Sodium tablets USP after receiving approval from the United States Food and Drug Administration (USFDA) earlier, Lupin said in a BSE filing. The company’s product is the generic version of AbbVie […]
Alembic Pharma gets USFDA nod for conjunctivitis treatment drug
NEW DELHI: Drug firm Alembic Pharmaceuticals on Friday said it has received approval from the US health regulator for Azelastine Hydrochloride Ophthalmic Solution used for treatment of allergic conjunctivitis. The approved product is therapeutically equivalent to the reference listed drug Optivar Ophthalmic Solution of Mylan Specialty L P. The company has received approval from the […]
Indonesia’s Garuda says to cancel 49-jet Boeing 737 deal after crashes
Indonesia’s national carrier Garuda has told Boeing it will cancel a multi-billion-dollar order for 49 Boeing 737 Max 8 jets after the model was involved in two fatal crashes. The move could spark more cancellations from other major carriers, an aviation analyst said, as Boeing and US federal regulators get set to face their first […]
Fitch cuts India GDP growth forecast for FY20 to 6.8 per cent
NEW DELHI: Fitch Ratings on Friday cut India’s economic growth forecast for the next financial year starting April 1, to 6.8 per cent from its previous estimate of 7 per cent, on weaker than expected momentum in the economy. “While we have cut our growth forecasts for the next fiscal year (FY20, ending in March […]
SpiceJet gains 26% in 4 days as Jet struggles
NEW DELHI: As problems in cash strapped Jet Airways deepens, investors are favouring stocks of its competitors — SpiceJet and IndiGo — betting that they will have a larger market share. Accordingly, stocks of SpiceJet rose over 14 per cent on Friday and have been rising for the last four sessions gaining 25.93 per cent. […]
IndiGo launches Delhi-Istanbul flight; plans for wider global expansion
By Deepak Patel ISTANBUL: India’s budget carrier IndiGo has launched its flight on the Delhi-Istanbul sector and announced to use its expanding fleet of A320neo and A321neo aircraft to connect more Indian cities to countries such as China, Vietnam, England, Myanmar and Saudi Arabia. William Boulter, Chief Commercial Officer of IndiGo said Wednesday here, “We […]
Supertech looking to sell 9 lakh sq ft office complex in Noida for Rs 1000 crore
NEW DELHI: Realty firm Supertech is in talks to sell its office complex in Noida for around Rs 1,000 crore as it aims to cut debt significantly and save interest cost, sources said. The company has developed a 9 lakh sq ft office building in its 17.5-acre mixed-use project ‘Supernova’. According to sources, Supertech is […]
Banks may infuse funds into Jet Airways if major shareholders pledge shares
NEW DELHI: Banks are likely to infuse fresh funds into cash-strapped Jet Airways provided major shareholders of the airline, including Gulf carrier Etihad Airways, pledge their shares as collateral, sources said. With the airline unable to get fresh funds, the options are limited now, they added. The full service carrier is grappling with acute financial […]
HCL Technologies inks $1.3 billion managed services agreement with Xerox
NEW DELHI :Indian IT company HCL Technologies has announced on Tuesday that it has signed a managed services agreement with Xerox worth $1.3 billion over multiple years. “This seven-year agreement for an incremental $1.3 billion continues to build on the success of the Xerox-HCL relationship, which began in 2009 with product engineering and support services,” […]
GST Council approves transition plan for new tax rates for real estate
NEW DELHI: The all-powerful GST Council on Tuesday approved a transition plan for the implementation of new tax structure for housing units, Revenue Secretary A B Pandey said. A reasonable time for transition will be given to developers in consultation with states, he told reporters here. The meeting deliberated on the transition provision and related […]
Hyundai, Kia invest USD 300 million in Ola for EVs, smart mobility solutions
NEW DELHI: South Korean automobile major Hyundai Motor group on Tuesday said it is investing USD 300 million in ride hailing service provider Ola, identifying India as the centrepiece in its strategy to gain leadership in global mobility market. The investment will be jointly made by group firms — Hyundai Motor Company and Kia Motors […]