Airlines are cutting not only international services but also domestic flights, especially on routes projected to remain unprofitable in the coming weeks due to weak demand and high fares.
Cleaner balance sheets, regulatory support and strong growth prospects helped Indian private banks attract over $6 billion in foreign capital, with more deals expected in 2026.
Sustaining 8 per cent-plus growth rates is necessary if we are to reach high-income status by 2047, points out Amitabh Kant.
The Central Bureau of Investigation (CBI) has sent a judicial request to the United States seeking information from private investigator Michael Hershman, who has claimed to possess crucial details about the Rs 64-crore Bofors bribery scandal of the 1980s. Hershman, the head of the Fairfax Group, had previously expressed his willingness to share information with Indian agencies, alleging that the investigation into the scam was derailed by the then Congress government. The CBI's request comes after previous attempts to obtain information from US authorities yielded no results. This move highlights the continued efforts to uncover the truth behind the decades-old scandal, which has had a significant impact on Indian politics.
Journalist and author Chitra Subramaniam has demanded that the Central Bureau of Investigation (CBI) make public its findings from the "box of evidence" received from Switzerland regarding the Bofors payoffs. Subramaniam, author of 'Boforsgate: A Journalist's Pursuit of Truth', expressed concerns about the lack of transparency surrounding the evidence, questioning who opened the box, when it was opened, and what it contained. She also raised doubts about the official narrative regarding the alleged bribe in the Bofors case, suggesting the sum of Rs 64 crore may not reflect the full extent of the corruption. Subramaniam also alleged that the CBI planted stories about Hindi film actor Amitabh Bachchan to derail the investigation and launched a political vendetta against the Bachchans. She recalled that Bachchan had come to her home and asked if she had seen his name. The CBI has recently requested assistance from the United States in the case, seeking information from private investigator Michael Hershman, who claims to have crucial details about the scandal. The Bofors scandal, a major bribery case involving the Indian government and the Swedish arms manufacturer Bofors in the 1980s, pertains to allegations of a Rs 64-crore bribe in a Rs 1,437-crore deal for the supply of 400 155mm field Howitzers.
Struggling BlackBerry may have to shell out $157 million to Fairfax Financial if the smartphone maker backs out from the proposed $4.7 billion takeover offer.
In Debasish Panda's last board meeting as chairperson of the Insurance Regulatory and Development Authority of India (Irdai), the regulator approved the "R2" licence for Kamlesh Goyal and Prem Watsa-backed Value Attics Reinsurance, making it the first private-sector Indian reinsurer after GIC Re, the public-sector reinsurer. "The authority reviewed and approved the R2 application of Value Attics Reinsurance, making it the first private-sector reinsurer after GIC Re, the public-sector reinsurer.
The rating was downgraded despite 25 per cent held by stronger partner Indian Hotels, which operates the company's seven properties in India.
June was a memorable month for the 101-year-old Tamilnad Mercantile Bank (TMB). Last month, the Thoothukudi-based bank witnessed two new landmarks in a history in which the last three decades could easily qualify for a Kollywood blockbuster.
189 people working at 59 Indian airports were found drunk on duty in the first half of this year, marking a 32 per cent year-on-year increase.
The collapse of Thomas Cook in the UK has no impact whatsoever in terms of ownership, business, people, technology or processes to us at Thomas Cook India: Madhavan Menon, chairman & managing director, TCIL.
While main events throughout the country were organised on Sunday by the Vishwa Hindu Parishad of America, several community members gathered at the iconic Times Square in New York to celebrate the historic event.
Slots, parking bays unavailable at major airports
Airports hold pride of place in the government's National Monetisation Pipeline (NMP) programme to monetise public assets. Private airport operators, including the Adani group, Fairfax, GMR and Zurich Airport, are expected to evince interest in the next round of public private partnership (PPP) development of state-owned Airport Authority of India (AAI) airports. Industry analysts, however, do not expect bids to be as high as the last round, which saw Adani group gain control of six airports.
The apartment owners at the Westin Melbourne said they had concerns for their health and never agreed to international players quarantining at the Westin
Fairfax Financial Holdings made three investments in a month
BlackBerry co-founders Mike Lazaridis and Douglas Fregin are considering a bid to buy the struggling smartphone maker, according to a securities filing on Thursday, raising the prospect of an alternative to a $4.7 billion offer led by its top shareholder.
Trust today means more than the belief that a brands' products will work as advertised; consumers want to believe that the company truly cares for its customers.
The company plans to raise $1 billion with a private placement of convertible debentures.
Adani's Carmichael project has been stuck in the approvals process for the past five years.
He has been a long time Blackberry fan and user.
What startles a visitor like me from India is how the 2020 US presidential election has divided families, husband and wife, parents and children, observes Payal Mohanka.
UK-based travel services provider Thomas Cook Group plc will sell for Rs 817.4 crore (Rs 8.17 billion) its entire 77 per cent holding in the Indian arm to Fairbridge Capital (Mauritius) Ltd, a subsidiary of Fairfax Financial Holdings.
Nearly half of the investments by various US-based investors have been made in Reliance subsidiary Jio.
While questions may arise over the sheer dominance of a single corporate group in running airports in the country, it pretty much fits into the government's plan to get out of this space and earn revenue without working for it.
The sale of Essar Oil was India's biggest deleveraging exercise undertaken by any debt-heavy group
This is part of the initiatives that the ministry is undertaking to use technology in order to make airport check-in seamless and formation of a no-fly list.
With passenger growth pegged at 14 to 15 per cent, airport infrastructure could be a make or break business for both new players and incumbents.
The exit of CBA comes hard on the heels of a court decision on Wednesday revoking the Australian government's environmental approva
'It's a toss-up between a fire sale of equity or merger with a strong bank,' points out Tamal Bandyopadhyay.
"We've carried out the executions," an attorney general official told the Jakarta Post.
Over the last few days, as the fortunes of Thomas Cook Plc took a wrong turn, the Indian entity scrambled to distance itself from its erstwhile parent. Experts have said that the travel firm must not change its brand name.
Bhargav Dasgupta, managing director and chief executive officer of ICICI Lombard, tells Subrata Panda, in an interview that the company has adequate capital for now and does not see a need for fresh infusion through markets over the next few years.
The main concern among industry and market experts is that the governance in these companies needs to be strengthened and the focus on social insurance has to come down.
In a startling revelation, a former Cricket Australia employee, on Monday, alleged she was sacked because she campaigned for improved abortion rights and criticised the state government on social media.
New Zealand Cricket has come down heavily on a stadium announcer for taunting tainted Pakistani fast bowler Muhammad Aamir during the third Twenty20 International.
Its obsession for growth, chasing corporate clients and giving up its original mandate of meeting the needs of local trade and businesses. A quarter of its loan book has gone bad. That's an error of business strategy, points out Tamal Bandyopadhyay.
Invests $1.1 billion in 6 months, against $3.7 billion in 20 years
Australia fast bowler Ryan Harris has declared himself a certain starter for the first Test against India but cannot say the same for all of his team mates a day after Phillip Hughes' funeral.
This will trigger an open offer under SEBI norms and TCIL will seek to buy up to 26 per cent in Sterling for Rs 230 crore.
