ECONOMY & NATION


MDT/PTI 04 October 2012
None of the lenders want the Vijay Mallya-owned Kingfisher Airline to go bust but if that happens, banks will be a bigger casualty than anyone else Lenders of the debt-ridden Kingfisher Airlines expressed the hope that the company management will not let the airline go belly up and said...

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MDT/PTI 03 October 2012
The Vijay Mallya-owned airline offered to pay one month's salary soon and promised to expedite payment of the remaining six months as soon as the company gets recapitalised. However, striking employees rejected this offer Mumbai/New Delhi: The crisis in debt-ridden Kingfisher Airlines...

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MDT/PTI 03 October 2012
Maintaining that Vijay Mallya-owned carrier was facing serious financial crunch, Ajit Singh has said DGCA would have to be satisfied on all aspects of operational safety till it approved resumption of its flights New Delhi: Kingfisher Airlines, which has declared a partial lockout till...

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MDT/PTI 03 October 2012
Oil companies are earning a profit of Rs1.60 per litre on petrol since 1st October, but want this trend to continue for some more days before announcing a price cut New Delhi: Petrol price may be cut by about Rs1.60 per litre later this month as appreciation of rupee against the US...

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MDT/PTI 03 October 2012
Middle class would be the main driver of the consumer boom in India and China and are expected to spend $64 billion on goods and services during 2010 to 2020 New Delhi: Consumers in India and neighbouring China are expected to spend nearly $10 trillion on goods and services a year by...

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MDT/PTI 03 October 2012
NPAs or bad loans of public sector banks rose to 1.53% from 1.09%, however private banks reduced their NPAs to 0.46% from 0.56% during 2011-12   Mumbai: Non-performing assets (NPAs) of the banking sector rose sharply to 1.28% in 2011-12 from 0.97% a year ago due to high interest rate...

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MDT/PTI 03 October 2012
United Breweries produces its Kingfisher and London Pilsner brand beers in Maharashtra for which water is used as raw material. However, the Vijay Mallya company was refusing to pay water charges to its supplier, the MIDC Mumbai: In a jolt to Vijay Mallya-owned United Breweries Ltd,...

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The fuel supply agreements signed between Coal India and power producers envisages a penalty ranging from 5% to 40% if CIL fails to deliver less than 80% of the annual contracted supply. However, chances are that the penalty clause will undergo many changes to become fair and equitable to one...

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Moneylife Digital Team 02 October 2012
Finance minister P Chidambaram wants a slew of changes which will mean getting the banking and insurance regulators to do what he says. Can he? The FM’s other moves, too, may not have many takers The finance ministry has come out with a slew of changes to jolt the slumping life insurance...

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Moneylife Digital Team 02 October 2012
Despite the recent policy measures, the current account deficit to GDP ratio will worsen to 4.1%, higher than the previous estimate of 3.6% by the year-end Will the improvement in balance of payments (BoP) in the first quarter of the fiscal sustain? Not quite, according a Kotak Bank...

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MDT/PTI 02 October 2012
Kingfisher Airlines CEO Agarwal, while admitting that he himself have not received his salary, said the carrier will clear all pending salaries of its staff in next few days   New Delhi: A day after declaring a partial lockout, top officials of beleaguered Kingfisher Airlines on...

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MDT/PTI 02 October 2012
The slew of incentives being considered by the Finance Ministry for boosting life insurance industry include reduction in service tax on first premium, separate tax exemption limit for pension plans and greater incentives for agents selling policies   New Delhi: Life insurance...

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It is sad that Kingfisher is reduced to the state it is in today. But there are many alternatives the airline might be working on including the FDI participation by a foreign associate. If and when such a move occurs, banks may relax their attitude and demands After waiting for seven...

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MDT/PTI 02 October 2012
Religare received approval from its board for $75 million investment by the World Bank unit IFC through preferential allotment   New Delhi: Religare Enterprises said it has received approval of the board for World Bank arm International Finance Corp (IFC)'s $75 million (about Rs400...

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MDT/PTI 02 October 2012
Kingfisher operations got completely paralysed after pilots and some other staff joined the striking engineers protesting non-payment of salaries for the last six months   Mumbai: Kingfisher Airlines on Monday night declared a partial lock-out with immediate effect and suspended till...

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MDT/PTI 01 October 2012
Sales of the company’s Nano small car stood at 5,491 units during the month compared to 2,936 units in the year-ago period, translating into an increase of 87.02% New Delhi: Tata Motors reported 3.82% decline in its total vehicle sales to 75,773 units in September, reports...

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MDT/PTI 01 October 2012
The guidelines on GAAR will be based on the suggestions of the committee headed by tax expert Parthasarthi Shome who submitted the final report to the finance minister earlier in the day   New Delhi: The Income Tax department will come out with final guidelines by the end of this...

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MDT/PTI 01 October 2012
Under the terms of the agreement, GAIL will receive 2.5 million tonnes of LNG per annum (equivalent to about 130 million British thermal unit or 3.5 billion cubic metres or 122 billion cubic feet per annum) over a period of 20 years beginning 2018-19.   New Delhi: State-owned gas...

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MDT/PTI 01 October 2012
The global airlines’ body estimated that Asia-Pacific airlines were set to post a $2.3 billion profit for 2012, which was $0.3 billion better than previously forecast   New Delhi: The crisis-hit global airline industry may stem its growing losses and even record modest profits next...

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MDT/PTI 01 October 2012
Domestic sales stood at 3,026 units in September against 4,152 units in the year-ago period, down 27.11%, VECV said in a statement New Delhi: Automaker VE Commercial Vehicles (VECV) on Monday reported a 31.92% decline in total sales at 3,150 units in September, reports PTI.   The...

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