Kingfisher pays 37 per cent higher premium while Air India defers renewal. "The Air France crash is expected to provide a $600-$700 million hit (to global insurance companies), which is 40 per cent of the total premium collected, and therefore hardening of reinsurance rates was evident. We had seen prices go up from $2 billion to $4 billion after the 9/11 attacks (in the US)," said ICICI Lombard Reinsurance Head Rajiv Kumaraswamy.
Calcutta HC dismisses United Bank of India's decision on technical grounds
Ending an almost two-year-long dispute over partnership with the Vijay-Mallya owned United Breweries Ltd, Heineken NV, the world's third-largest brewery firm, on Monday agreed to permit UBL to brew and market the Heineken brand in India.
'As he goes down, he will almost certainly drag a few others down with him.' 'Once the mutual mudslinging has died down, collateral damage will probably include more bankers than politicians, given the nature of how things work in India,' says T N Ninan.
The Force India Formula One team named Germany's Adrian Sutil and Italian Vitantonio Liuzzi on Friday in a 2010 line-up unchanged from the one that finished the season.
Succumbing to government pressure, Vijay Mallya-promoted Kingfisher Airlines on Monday decided to cut fares, but with the condition that the government put aviation turbine fuel in the declared goods category. Kingfisher has also assured that it would not resort to retrenchments to deal with the downturn.
IndiGo and Paramount Airways managed to register profit during the last fiscal.
Two years after selling his budget carrier, Air Deccan to Vijay Mallya-owned Kingfisher Airlines, its former chairman Captain G R Gopinath, still harbours a dream to return to the low-cost airline segment, which he pioneered in the country.
The special court, however, did not permit the ED to attach the paintings owned by Modi and seized by the Income Tax department as the Bombay high court had earlier directed for the artworks to be auctioned but the money to be deposited and not disbursed.
At the EBIDTA level domestic operations showed an operating loss of Rs 178 crore.
It had been an extraordinary tale of misfortune, podium, pole and bloopers for Force India and the born-again outfit now wants to sign off with some more points in the season-ending Abu Dhabi Grand Prix in Abu Dhabi on Sunday.
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