Govt. allows 49% stake in Domestic carriers by Foreign Airlines

Posted by :Himmat Mehra On : January 18, 2012
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Category: Business

Tags:, , , , , Finance Minister Pranabh Mukhrjee, Indian Airlines, , , ,

Decision to allow international carriers to invest up to 49% in domestic airlines has been approved except saying ‘yes’ by cabinet.

This step would really sort out the cash flow management related problems in Indian aviation sector that are at present a big headache for Indian airlines like Kingfisher and Go Air.

After attending a meeting with Pranabh Mukhrjee, the Civil Aviation Minister Ajit Singh informed to Media, “49% FDI is already there.

The question was to allow foreign airlines to participate in FDI. I discussed the matter with the finance minister and he agreed. We will move a note for the cabinet now.”

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Reliance Com ties-up $1.18 bn fund for FCCBs

Posted by :Himmat Mehra On : January 17, 2012
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Category: Business

Tags:, , , FCCBs, , , R-Com, , Reliance Group

According to the latest news from the business sector of India, Reliance Communications Ltd. (R-Com), the major mobile telephony company of the Anil Ambani-headed Reliance Group, has recently announced a tied up foreign debt to refund the redemption of outstanding foreign currency convertible bonds (FCCB) issued by the firm.

In a statement issued by the company during the stock exchange filing, it announced that the company had managed to gain around $1.18 billion from Industrial and Commercial Bank of China, China Development Bank and Export Import Bank of China and few more lenders to refund the FCCBs that are due for redemption on 1 March.

As per the statement issued by the company, it is said, “R-Com will benefit from extended loan maturity of seven years and attractive interest cost of about 5 percent.”

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Agni-V will be tested soon, says DRDO

Posted by :Himmat Mehra On : January 16, 2012
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Category: Business

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An explosive detonator that make successful take off of Agni-V, the 5,000-km nuclear range missile, has invented by Terminal Ballistics Research Laboratory (TBRL), a DRDO lab in Chandigarh.

As per report of Chief Controller R&D (Missiles and Strategic Systems) at DRDO, Avinash Chander, Agni-V is in the final phase of testing. However launching date will not be defined but it will be launched very soon. Prediction is made that Agni-V may be launched on next month.

Although the missile of having wide range capability has already spreads its affect in South Asia, now this has been tested in India by TBRL, the lab of Chandigarh city.

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Under pressure power producers expects Govt. support

Posted by :Himmat Mehra On : January 15, 2012
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Category: Business

Tags:Anil Agarwal, , , coal prices, , Finance Minister Pranab Mukherjee, Gautam Adani, , natural gas, , Prashant Ruia, , Private power, producers, , Sajjan and Naveen Jindal, shortage, soaring imported

As per business sector report, a meeting of top power projects executives will be held on 18 January Wednesday with Prime Minister Manmohan Singh on the issue of bottlenecks on the road of power project.

However this is of the first time that all the top Companies executives have decided to meet with PM as a team. In the list some specific name of owner of firms are Ratan Tata, Anil Agarwal, Anil Ambani, Gautam Adani, Prashant Ruia, Sajjan and Naveen Jindal.

They all with other promoters and top executives will discuss their problem regarding additional capacity to be added in 12th Plan and ask PM Manmohan Singh to take a clear stand on this.

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Infosys reports 33% growth in net profit

Posted by :Himmat Mehra On : January 12, 2012
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Category: Business

Tags:, , , , IT industry, , Q3 Report, , , Weak Rupee,

As per latest business sector news, the Bombay Stock Exchange market fell 54 points at 16,122.38 and Sensex over 100 points in the early trade, disappointment with 8% crashed made by the Bangalore-based Infosys, India’s second-largest software company.

But Market forecast of a 33 per cent rise in quarterly profit of Infosys after the company reduced its revenue outlook in dollar terms for the entire year as a debt crisis in Europe which is its second-biggest market.

However such revenue reduction guidance intimates by macroeconomic headwinds in Europe and the US from where most IT companies earn a majority of their revenues, and does not augur well for Infy’s business. Due to debt crisis in Europe all India’s export-driven software services companies are bracing for a slower pace of outsourcing contracts as a weak rupee boosted margins.

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IT firms third quarter profit seen up

Posted by :Himmat Mehra On : January 11, 2012
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Category: Business

Tags:, , , , , , , ,

IT Companies 280x300 IT firms third quarter profit seen upHaving unclear outlook, the Indian software companies are facing a difficult situation for a slower pace of outsourcing contracts in 2012.

While the quarterly earnings this week has kicked off by the IT companies because of the lingering debt crisis in Europe, their biggest market after the United States, their outlook is hazing.

However the bigger rival of Tata Consultancy Services Ltd , Infosys Ltd, the country’s No.2 software services exporter and third-ranked Wipro Ltd , they get three-quarters of their revenue from the United States and Europe.

The research firms Gartner Inc revealed a statement, Global spending on IT will raise at the slowest pace around 3.7 percent against its earlier estimate of 4.6 percent in three years in 2012 as Europeans, worried about the region’s sovereign debt crisis are cutting back on investments.

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Auto Expo 2012: Ducati launches Monster 795 for Rs. 5.99 lakh

Posted by :Himmat Mehra On : January 9, 2012
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Category: General News

Tags:, , , , , ,

DUCATI MONSTER 795 300x253 Auto Expo 2012: Ducati launches Monster 795 for Rs. 5.99 lakhAccording to the latest news from the Auto Expo 2012, Ducati has announced a statement that almost surprised everyone.

The company had announced the grand launch of the Monster 795 at the Auto Expo for a price of Rs 6.99 lakh.

Moreover, the expected cost of the superb sports bike from the Ducati Monster 795 was in the range of Rs 5-6 lakh.

On the other hand, Ducati India has been speedy to make compensation and declares the special launch of their new bike for the Monster 795 – Rs 5.99 lakh, ex-showroom.

In the meantime, the company had announced the launch of this bike at such a low cost for a limited period of time which will make it more affordable.

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NRIs can vote now, says Prime Minister Manmohan Singh

Posted by :Himmat Mehra On : January 8, 2012
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Category: Business

Tags:, , , , , , , , , , ,

Pravasi Bharatiya Divas 300x173 NRIs can vote now, says Prime Minister Manmohan SinghToday while addressing the 10th annual diaspora meet called the Pravasi Bharatiya Divas (PBD), Prime Minister Manmohan Singh promises to fulfill the long-standing demand of its diaspora to allow Non-resident Indians (NRIs) to vote and participate in the election process.

The Prime Minister Manmohan Singh stated in the meet, “Pursuant to the law that was enacted to enable Non-resident Indians to vote in our national elections, the government has issued notifications for registration of overseas electors under the Representation of People Act, 1950.”

However diaspora plays an important role in the growth and development of the country. And now recognizing it the government responding by giving commitment to address their concerns and fulfill their demands.

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After Kingfisher, Air India Express, DGCA raps other carriers

Posted by :Himmat Mehra On : January 8, 2012
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Category: Business

Tags:, , , , , , , , resigning Kingfisher pilots

kingfisher air lines 300x225 After Kingfisher, Air India Express, DGCA raps other carriersAs per report revealed from business sector , Airlines like IndiGo, SpiceJet, Jet Airways, GoAir, Alliance Air and JetLite have been downed for issues like non- reporting of incidents, lack of pilots, proper and regular training, absence of qualified safety officials and non- compliance of safety audits, by the Aviation regulator DGCA

Before these airlines, Kingfisher and Air India Express were come rapped by DGCA for ignoring safety requirements.

However a major weakness found in the carriers sector .A financial surveillance carried out by the Directorate General of Civil Aviation (DGCA) over the proper safety operations, regarding this strict action against them recommended under the Aircraft Rules and Civil Aviation Requirements (CARs).

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Piaggio to launch Vespa by March 2012

Posted by :Himmat Mehra On : January 7, 2012
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Category: Business

Tags:, , , , , , , ,

vespa 2012 300x260 Piaggio to launch Vespa by March 2012As per the news of business sector, around past 13 years the iconic Vespa re-entered the Indian market.

The range of Vespa scooters as parent Piaggio unveiled its range of scooters at the Expo, sport 125cc engines and will be available in the market from March.

However Piaggio licensed the production of Vespa scooters to Bajaj Auto Ltd from more than four decade ago.

Although the joint venture deed between both ended in 1971, the company partnered with LML Motors in 1983 as like Bajaj Auto, to make and sell scooters in India.

And this venture also exited in 1999, when LML acquired Piaggio’s stake.

Revealing its market potential and scope to grow, the chairman and MD, Piaggio Vehicles, Ravi Chopra stated in a statement, “Our foray into the Indian market

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