Govt to finalise Air India revival package in 10-15 days, says Choubey
Posted on 5th October 2018 |
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| New Delhi: The government is likely to finalise a revival package for debt-laden Air India in 10 to 15 days, a senior official said on Thursday. Earlier this year, efforts for strategic disinvestment of the airline failed to take off. The national carrier is estimated to have a debt burden of more than Rs 50,000 crore. Civil Aviation Secretary R N Choubey said the government is likely to finalise Air India revival package in 10-15 days. The difficult situation in the airline sector is mainly on account of high crude prices and depreciation of the rupee, he told reporters after his meeting with Economic Affairs Secretary S C Garg. The government has been looking at ways, including sale of non-core assets, to bolster the carrier's fortunes. Air India is staying afloat on a bailout package extended by the previous UPA regime in 2012. Earlier in the day, Choubey said the impact of increase in fuel prices and fall in the rupee have not significantly impacted air fares. "There is good competition in the market and airlines are absorbing the increased costs. Now, how long can they absorb and when will they increase their ticket prices, that is a commercial decision," he added. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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