Paramount Airways, the Coimbatore-based private airline, is in an advanced stages of negotiations with aircraft manufacturers Airbus and Boeing for a $1 billion order of 15 wide-bodied aircraft. The deal is likely to be announced shortly.
The Act is criticised as an imperial legislation, lacking ameliorative measures for the deprived, with obsolete benchmarks for determining compensation.
Govt went against its own recommendation of Jun 20, 2007, where along with the 2 Jindal companies, it wanted 40% coal block to go to Lanco.
Each aircraft will cost about $50 million and the purchase is being funded by the US-based Exim Bank. The airline operates 143 flights a week from Indian cities to 12 destinations in the Far East and West Asian countries. In its fourth year of operation, the international budget carrier now has 11 fully owned aircraft, while seven are on lease, which will expire in 2010.
: Holborn College, UK, invites applications for admission to its BA, LLB, LLM, MSc and MBA-Marketing programmes.
State Bank of India plans to open its office in Dubai International Finance Centre in a few weeks, a move which will boost India's largest bank's presence in the Gulf region.
Commerce and Industry Minister Kamal Nath has announced the annual supplement to the Foreign Trade Policy.
Currently most of its 119 planes have been taken back by the lessors and many have been leased to other airlines like SpiceJet. The second challenge is that it has to repay banks.
The success of Regional Trade Agreements, which can enhance international trade and deepen economic relations with neighbouring countries, depend critically on design and implementation, a top official of Exim Bank said in Chennai.
China had financed the acquisition of embattled Yukos' core asset Yuganskneftegaz by Russia's state-owned 'Rosneft' oil last month in return of oil supplies till 2010, a senior Russian official said.
Transcript of the banking chat with Y B Desai, former chairman and managing director, Exim Bank, Mumbai.
Low cost airline Spicejet is planning to add 23 new aircraft to its fleet by 2008. Following this, it will operate more than 250 flights to around 24 destinations, offering over 35,000 seats per day.
India is all set to export raw sugar for the first time. The Indian Sugar Exim Corporation has signed a deal with Al Khaleej refinery of Dubai to export raw sugar.
The Centre was seized of the issue of the continuing appreciation of the rupee against the dollar adversely affecting the exporting community, Union Commerce and Industry Minister Arun Jaitley said on Saturday.
India and China would emerge winners in the post quota regime in the textile and garments sector, according to a study carried out by EXIM Bank.
If not contained quickly, it will have a knock-on effect in the world economy and disrupt global supply chains, Crisil analysts warned.
Exim Policy for the new fiscal unveiled on Monday has called for a major thrust on agri-exports zones with increased participation of corporate sector and concessions in duty drawback schemes.
Export Import Bank of India on Friday mooted an "integrated effort" from government, industry and R&D units to boost exports of Indian herbal products, which lagged behind the growing global market, now at $62 billion.
Shell gets govt's nod to import petrol, diesel
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