Indian sugar output reaches 32.11 million tonnes in October-April
NEW DELHI: Sugar output in India has reached 32.11 million tonnes in the first seven months of the ongoing marketing year that started October 2018, and the total production could touch a new record of 33 million tonnes, the industry body ISMA said on Friday. Much of the sugar has already been manufactured and only […]
Embassy Office Parks to raise Rs 3,000 crore via non-convertible debentures
NEW DELHI: Embassy Office Parks, which recently launched India’s first real estate investment trust (REIT), Friday said it will raise Rs 3,000 crore through the allotment of debentures on a private placement basis. Embassy Office Parks, a joint venture between global investment firm Blackstone and realty firm Embassy Group, had raised Rs 4,750 crore through […]
Anil Ambani needs $2 billion in asset sales to save last stronghold
By PR Sanjai and Anto Antony NEW DELHI: The last stronghold in embattled tycoon Anil Ambani’s phone carrier-to-power empire is also developing fault lines. Reliance Capital Ltd., his financial services business that almost doubled its profit in five years, had largely remained insulated from the distress plaguing the wider conglomerate. Now, the company that controls India’s […]
Cyclone Fani: Flights from Bhubaneswar, Kolkata cancelled
KOLKATA: All flights to and from Bhubaneswar have been cancelled for 24 hours starting midnight of 3 May in view of the impending severe cyclonic storm ‘Fani’ threat over the Bay of Bengal, Directorate General of Civil Aviation (DGCA) said on Thursday. The regulatory body for civil aviation issued an advance order to cancel all […]
Indians prefer budget travel, domestic destinations this summer: Survey
NEW DELHI: India is beating global destinations with more than half of country’s travellers looking to go domestic this year, and that too on a tight budget, a new survey has revealed. Conducted by Yatra, an online travel portal, the survey said 68 per cent of Indians were planning to travel this summer, of which, […]
Aviation scam: Lobbyist Deepak Talwar was in touch with Praful Patel, says ED
NEW DELHI: Corporate lobbyist Deepak Talwar was in regular touch with former aviation minister Praful Patel while acting as a middleman in negotiations to favour foreign private airlines, causing losses to national carrier Air India, ED has told a Delhi court. The Enforcement Directorate claimed in its charge sheet filed against Talwar, who has been […]
Vistara to hire 100 pilots, 400 cabin crew from grounded Jet Airways
NEW DELHI: In one of its largest hiring exercise since it began operations over three years back, the premium carrier Vistara is hiring around 500–100 pilots and 400 cabin crew–mostly from the grounded Jet Airways, say industry and airline sources. The grounding of Jet has come as an opportunity for the market to hire readily-available […]
‘Good to see you’: US, Chinese negotiators resume trade talks
BEIJING: Top US and Chinese trade negotiators resumed talks on Wednesday as they an eye an endgame to a months-long dispute that has hit businesses with bruising tariffs. Vice Premier Liu He, a close aide to President Xi Jinping on economic matters, greeted US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin to begin […]
Donald Trump, Democrats agree to spend $2 trillion on US infrastructure
WASHINGTON: Democratic congressional leaders — House Speaker Nancy Pelosi and Senate Minority Leader Charles Schumer — said they have agreed to seek a deal with President Donald Trump on a 2-trillion-US-dollar infrastructure package. “We agreed on a number, which was very, very good, 2 trillion dollars for infrastructure,” Xinhua quoted Schumer as saying to reporters […]
Eros launches another housing project sampoornam-I in Greater Noida
NEW DELHI: After successful delivery of Eros Sampoornam at sector 2 at Greater Noida West, Eros Group has launched 2nd phase of the project, Sampoornam I. Spread over 12 acres land and connected with Sampoornam, Eros is investing 125 crore in the Sampoornam I phase. The phase will have 4 towers with 258 units of […]
Vijay Mallya repeats offer of 100 per cent payback for Indian banks
By Aditi Khanna LONDON: Embattled liquor tycoon Vijay Mallya took to social media on Monday to lament the collapse of Jet Airways and repeated his offer of a “100 per cent payback” for state-owned Indian banks to cover his now-defunct Kingfisher Airlines’ debt. The 63-year-old former Kingfisher Airlines (KFA) boss is currently appealing against his […]
Looking for job in Qatar? Beware of fake agents, warns Indian embassy
NEW DELHI: Indians looking for employment in Qatar must be wary of fake job recruiting agents, the Indian embassy in Doha has warned, advising the job-seekers to ask for a copy of the agent’s ID proof to ensure authenticity. “Please do not trust any recruiting agent who promises you a job in Qatar on a […]
Ask SBI to release one month’s salary to Jet Airways staff: NAG to Narendra Modi
NEW DELHI: The National Aviator’s Guild (NAG), which represents pilots of the grounded carrier Jet Airways, Saturday requested Prime Minister Narendra Modi to “direct” the airline’s lender State Bank of India to release one month’s salary of all the employees. In a late evening e-mail to the prime minister, the guild also sought government’s directive […]
PepsiCo proposes settlement to Gujarat potato farmers sued by it
AHMEDABAD: Food and beverages giant PepsiCo has offered to settle lawsuits against four farmers who it has dragged to court for allegedly illegally growing a variety of potatoes “registered” by the company. Nine farmers from Sabarkantha and Aravalli districts are being sued by PepsiCo for allegedly growing a variety of potatoes for which it has […]
Financial crisis hits Pawan Hans
NEW DELHI: After Jet Airways and Kingfisher Airlines, it is now the turn of Pawan Hans Limited, which is facing a financial crisis. Pawan Hans’ management, on April 25, issued a circular to its employees stating that the company is not in a position to disburse employees’ salaries for the month of April due to […]
Maruti to set up hospital, school in Gujarat; earmarks Rs 125 crore for the projects
NEW DELHI: The country’s largest carmaker Maruti Suzuki India (MSI) said it will set up a multi-speciality hospital and a senior secondary school in Sitapur in Gujarat. Both projects will be fully-funded as CSR initiatives by MSI with an investment of around Rs 125 crore over a five-year period, it said in a statement. “Suzuki […]