• Wed, Jan 29, 2020
  • The Department of Investment and Public Asset Management (DIPAM) is likely to finalise the list of qualified bidders for Air India in the current fiscal and is confident of participation of overseas...
    Air India qualified bidder list likely in FY20: DIPAM Secy
    “We are hopeful of bids from both domestic and overseas players. During our roadshows, we saw interest from many investors in Air India, which included other airlines. They may bid in consortium. That’s why the consortium conditions have been made flexible and mergers allowed, which means we have given them the option of restructuring the airline,” Pandey said. Pandey said that the government is very hopeful of Air India’s successful sale due to its inherent strengths. “The airline can be managed very well in private hands. It is a big asset and has a lot of potential. It has got travel slots, bilaterals... India is a very fast-growing civil aviation market. Air India has very competent people -- technical staff, pilots, crew etc. The cost of manpower is just 11 per cent of the total revenue,” the officer said, adding that this figure...
  • FM’s new steps to back bank decision on big frauds FM’s new steps to back bank decision on big frauds

    To protect prudent commercial decision of bankers, the government has taken a slew of decisions, including doing away with personal responsibilities of MD and CEO of PSBs for compliance in dealing...

  • US firm presents advanced e-scooter in Chennai US firm presents advanced e-scooter in Chennai

    Michigan-based Detroit Engineered Products (DEP) — which has been looking forward to foray into the Indian market with hybrid and electric vehicles — unveiled the prototype of its e-scooter in the...

  • Industry facing problem of oversupply: Tea Board Industry facing problem of oversupply: Tea Board

    The tea industry is going through a problem of oversupply with slow growth of domestic consumption and exports remaining stagnant, a Tea Board official said on Tuesday.

  • Budget may raise spending to revive economic growth Budget may raise spending to revive economic growth

    Prime Minister Narendra Modi’s government is expected to raise spending on infrastructure and cut some personal tax in its 2020/2021 budget, to spur consumer demand and investment, government sources...

  • Tata companies pool resources to kickstart EV ‘ecosystem’ Tata companies pool resources to kickstart EV ‘ecosystem’

    Tata Group, a steel-to-autos conglomerate, is making its biggest push yet towards clean vehicles with plans to make electric cars and batteries, set up charging stations and build a battery recycling...

  • Airtel Africa Q3 net down, revenue up Airtel Africa Q3 net down, revenue up

    Airtel Africa's net profit for quarter ended December 2019 was 20.9 per cent lower in constant currency terms at $103 million on a year-on-year basis.

  • Maruti Suzuki's Q3 standalone net profit up Maruti Suzuki's Q3 standalone net profit up

    The company sold a total of 428,643 vehicles during the quarter, higher by 2 per cent compared to the same period previous year.

  • India's online food market to hit 8bn USD India's online food market to hit 8bn USD

    Zomato and Swiggy currently dominate the online food delivery market in India.

  • Sugar buyers nervous as Indian export surge fails to materialise Sugar buyers nervous as Indian export surge fails to materialise

    Global buyers have been targetting Indian supplies to help meet a global sugar deficit of 6.12 million tonnes in 2019/20 forecast by the International Sugar Organization.