Tata Sons proposes to increase stake in AirAsia India
Mumbai : Industrial conglomerate Tata Sons on Monday proposed to increase its stake in AirAsia India to 49 percent.
 
According to Tata Sons, it plans to increase equity stake in AirAsia India to 49 percent from its existing stake of 41.06 percent.
 
"Tata Sons has entered into an agreement with AirAsia (India) ("company"), Telestra Tradeplace and two of the directors of the company, being S.Ramadorai (chairman) and R. Venkataramanan," the industrial conglomerate said in a statement.
 
"Under (the agreement) which Tata Sons proposes to increase its stake in the company to 49 percent from its existing stake of 41.06 percent, by acquiring 7.94 percent equity stake from Telestra."
 
The statement elaborated that Ramadorai and Venkataramanan, in their individual capacity, propose to acquire 0.5 percent and 1.5 percent shareholding respectively of Telestra's remaining two percent equity stake in the company.
 
"S.Ramadorai and R.Venkataramanan, in their individual capacity, propose to acquire 0.5 percent and 1.5 percent shareholding respectively of Telestra's remaining 2 percent equity stake in the company," the statement said.
 
"AirAsia Investment will continue to hold its 49 percent stake in the company."
 
Tata Sons disclosed that it entered into the agreement on March 14, 2016, and expects the transaction to be completed in April 2016, subject to the completion of all the relevant corporate approvals and processes.
 
Initially, AirAsia Investment owned a 49 percent stake in the budget airline, followed by 30 percent by Tata Sons and the rest 21 percent was held with Telestra Tradeplaces.
 
Last year, Tata Sons bought 11 percent of Telestra's stake, taking its total holding in the low cost carrier (LCC) to 41 percent.
 
Since the start of operations on June 12, 2014, the Indo-Malaysian airline has acquired a fleet of six aircraft and carried over 1.8 million passengers.
 
Currently, it operates flight services on 12 routes. 
 
In the most recent quarter of its operation -- October-December 2015 -- the LCC logged a 134 percent growth in passenger traffic. It flew over half a million passengers, and operated 3,376 flights as compared to 1,444 flights in the same period of 2014.
 
Recent data furnished by the Directorate General of Civil Aviation (DGCA) showed that the budget airline's passenger load factor during February stood at 85.5 percent. It had a market share of 2.2 percent in the month under review.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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National Awards: 'Baahubali' wins Best Film; Big B, Kangana get Best Actors
New Delhi : Filmmaker S.S. Rajamouli's southern magnum opus "Baahubali: The Beginning" was on Monday named the Best Feature Film at the 63rd National Film Awards announcement here. Bollywood stars Amitabh Bachchan's performance in "Piku" and Kangana Ranaut's dual act in "Tanu Weds Manu Returns" was lauded with the Best Actor and Best Actress honour.
 
"Baahubali: The Beginning", which was a box office wonder, was lauded for being an "imaginative film, monumental by its production values and cinematic brilliance in creating a fantasy world on the screen" by filmmaker Ramesh Sippy, head of the Feature Film jury here.
 
"Baahubali" was even named for the award for Best Special Effects as these brought out the "emotional and dramatic upheavals of the story" in the movie.
 
While some other marvels of southern cinema have found a place in the list of winners, Bollywood clearly stole the limelight with "Bajrangi Bhaijaan" winning the Best Popular Film Providing Wholesome Entertainment; and Sanjay Leela Bhansali getting the Best Direction Award for "Bajirao Mastani", which also won the Best Supporting Actress award for Tanvi Azmi.
 
The period drama even emerged victorious in the Best Cinematography category, while Remo D'Souza won the Best Choreography honour for "creating enchanting moves" for the track "Deewani mastani", and Shriram Iyengar, Saloni Dhatrak and Sujeet Sawant won for the movie's production design.
 
In the audiography section, Biswadeep Chatterjee's sound designing and Justin Ghose's re-recording of the final mixed track for the Ranveer Singh and Deepika Padukone starrer, have been honoured.
 
Another big Bollywood winner was "Dum Laga Ke Haisha", which was not just named Best Hindi Film, but also won the Best Female Playback Singer for Monali Thakur for a "delightful and soulful rendition of a song of love", "Moh moh ke dhaage". The use of "fresh, simple array of metaphors" in the song by Varun Grover was appreciated with Best Lyrics honour.
 
A Special Jury Award went to Kalki Koechlin for her "realistic performance as a young woman afflicted with cerebral palsy" in "Margarita, With A Straw", whereas Ritika Singh, a kick boxer-turned-actress, got a special mention for "gutsy performance of a boxer in the making".
 
Neeraj Ghaywan, whose unusual drama "Masaan" found critical acclaim nationally and internationally, has been encouraged with the Indira Gandhi Award for Best Debut Film of a Director for "his perceptive approach to filmmaking in handling a layered story of people caught up in changing social and moral values".
 
Social media platforms were abuzz with users slamming the importance given to Bollywood vis-a-vis regional cinema. Another interesting facet that emerged was that the honours went to movies which were true blue box office wonders in 2015.
 
As for regional cinema, actor-filmmaker Samuthirakan was given the Best Supporting Actor award for the Tamil drama "Visaranaai", for which late Kishore T.E.'s editing work has also been lauded.
 
This year, a special honour, Film-Friendly State Award was given for the first time. It went to Gujarat "because of the efforts in the direction of ease of doing business and facilitation of films and towards the promotion of Indian cinema".
 
Among the winners in the Best Music Direction category are: M. Jayachandran won Best Song for "Kaathirunnu kaathirunnu" ("Ennu Ninte Moideen") and Ilaiyaraaja won in the Background Score sub-category for "Thaarai Thappattai".
 
As for the Screenplay segment, the award for the Best Screenplay Writer (original) is shared by Juhi Chaturvedi ("Piku") and Himanshu Kumar ("Tanu Weds Manu Returns") -- who have even shared the Best Dialogue honour -- while the Best Screenplay Writer (adapted) award has gone to Vishal Bhardwaj for "Talvar".
 
"Nanak Shah Fakir", which has been named for the Nargis Dutt Award for Best Feature Film on National Integration, has even won for its costume designing (Payal Saluja) and make-up (Preetisheel G Singh and Clover Wootton).
 
Malayalam film "Nirnnayakam" was named Best Film on Social Issues for "tackling a relevant and unaddressed issue of curtailing freedom of movement for the common man due to hartals and processions"; and Gaurav Menon won the Best Child Actor award for "Ben".
 
Besides these, films in various languages like Marathi, Bengali, Assamese, Kannada, Konkani and more were chosen for awards; and talent in the non-feature film categories were also announced, apart from awards on film-related writing.
 
List of other awards:
 
Best Assamese Film: "Kothanodi"
Best Bengali Film: "Sankachil"
Best Kannada Film: "Thithi"
Best Konkani Film: "Enemy"
Best Malayalam Film: "Pathemari"
Best Marathi Film: "Ringan"
Best Punjabi Film: "Chauthi Koot"
Best Tamil Film: "Visaranai"
Best Telugu Film: "Kanche"
Best Sanskrit Film: "Priyamanasam"
Best Mizo Film: "Kima's Lode Beyond the Class"
Best Oriya Film: "Pahada Ra Luha"
Best Maithili Film: "Mithila Makhan"
Best Manipuri Film: "Eibusu Yaohanbiyu"
Best Wancho Film: "The Head Hunter"
Best Haryanvi Film: "Satrangi"
Best Khasi Film: "Onaatah"
Best Children's Film: "Duronto"
Best Film on Environment Conservation/Preservation: "Valiya Chirakulla Pakshikal"

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Fear of death driving people away from savings
New York : If you are not saving enough for your retirement, you may not be alone. A new study has shown that a large number of people avoid saving for their old age because they are afraid to think of their own death.
 
The result of the study showed that only a few people choose to invest in annuities -- a guaranteed steady stream of income during retirement. 
 
The lack of interest shown towards annuities was because it coerced people to think about how long they expect to live in order to calculate the potential payout for an annuity. 
 
Thus, the findings, published online in the Journal of Consumer Psychology, proved that the fear of death tempts people to avoid making decisions about how to manage their savings during retirement.
 
"Our goal was to understand how we can help people overcome their avoidance of annuity products," said one of the study authors Linda Salisbury, professor at Boston College in Massachusetts, US. 
 
However, the study also pointed out that apart from annuities the retirees may also be avoiding estate planning, wills and life insurance due to fear of death. 
 
For the study, the team presented two groups with a hypothetical scenario in which they were 65 years old and beginning retirement. 
 
One group was asked if they were interested in putting their savings into an Individual Retirement Account (IRA), while the second group was asked if they were interested in an annuity. 
 
After giving their responses, the participants in both groups talked about the thoughts they were having. 
 
The researchers found that 40 percent in the annuity group had death-related thoughts, compared to only one percent in the IRA group.
 
The investigators further tested their theory by asking participants in the first group to write an essay about their own death, such as how it would happen and the emotions involved. 
 
The second group wrote an essay about a time they experienced dental pain. Then the groups were presented with the scenario of being 65 and retiring. 
 
When asked if they wanted to put savings into an annuity, the group that had written about their own death was 50 percent less likely to choose an annuity.
 
The researchers suggested financial planners should make use of simple strategies to help people cope with the anxiety that thought of death might evoke in these situations.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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COMMENTS

Param

8 months ago

why show indian currency note in image for an article about usa?

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