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HindustanTimes Fri,29 Aug 2014

Business

For AI pilots, the grass is greener on this side

A number of AI pilots, who had submitted resignations in the last few months, have withdrawn them despite deferred salary payments and pending pay cuts. The AI management had unilaterally imposed a pay cut of 25% last year.

Provide KFA reasons for default notice: HC to PNB

The Delhi High Court on Wednesday said that Punjab National Bank, which has served a notice on Kingfisher Airlines alleging that it has willfully defaulted repayment of dues of over Rs. 770 crore, should give to the carrier copies of documents relied upon by the bank.

Banks fret as coal ruling puts Rs. 1 L-cr loans at risk

Power developers and lenders are worried as investments over Rs. 1.5 lakh crore are at risk. With a 70:30 debt-equity ratio for these projects, lenders have an exposure of close to Rs. 1 lakh crore in these projects.

SC orders DLF to pay Rs. 630 cr fine within 3 months for unfair practices

The Supreme Court directed on Wednesday real estate giant DLF to deposit Rs. 630-crore fine imposed by Competition Commission of India (CCI) for alleged unfair trade practices pending its appeal.

Sundaram BNP Paribas offers special rate of interest on home loans

Sundaram BNP Paribas Home Finance has launched a new scheme for funding rural houses at a concessonal rate of 9.60 per annum for women, SCs and STs, the company said on Wednesday.

Ratan Tata invests in Snapdeal.com

Snapdeal, which has raised about $400 million since its inception, has invested about $100 million in logistics and operations to expand its presence in the $3 billion Indian eCommerce market.

Sensex, Nifty mark record closing high on Euro zone stimulus talk

The BSE Sensex and Nifty rose on Wednesday to record closing highs as expectations of further monetary stimulus in the Euro zone raised hopes of continued foreign inflows, lifting blue-chips such as ICICI Bank Ltd.

Indian rupee ends flat, but hopes high about foreign flows

The Indian rupee ended steady on Wednesday as optimism over continued foreign investments in domestic markets was offset by caution ahead of key indicators this week, including economic growth data.

India issues visas to 30 Pak traders for Mumbai expo

In a fresh sign of engagement, India Tuesday cleared 30 visas for Pakistani businessmen scheduled to visit Mumbai for a trade exhibition ‘Made in Pakistan’ on August 31.

Govt may privatise coal, expedite auction of mines

The NDA government may have to expedite the implementation of the coal auction policy approved by the UPA government last year to prevent projects from getting stuck for want of coal. The Centre is also likely to fast-track a Bill to remove restrictions on private companies in coal mining.

Power projects could be worst-hit by SC ruling

Uncertainty looms over the fate of 28,000 to 30,000 megawatt of power generation capacity if the Supreme Court were to cancel coal block allocations between 1993 and 2010, which it has declared 'illegal'.

Verdict may hit economy, hard, says law minister

A day after the Supreme Court declared all coal block allocations from 1993 to 2010 as 'illegal', law minister Ravi Shankar Prasad on Tuesday sought to draw attention to its 'impact on the economy', saying this should also be factored in when the court resumes the case on September 1.

KFA moves HC against wilful defaulter tag

Kingfisher Airlines on Tuesday moved the Delhi High Court against Punjab National Bank’s notice alleging that the carrier has wilfully defaulted payments of outstanding dues of over Rs. 770 crore. The case will come up for hearing on Wednesday.

'Air India Day' today, tickets for Rs. 100

National carrier Air India will celebrate its merger with erstwhile Indian Airlines as 'Air India Day' on Wednesday, offering tickets for Rs. 100 for a limited period.

Provident Fund interest rate retained at 8.75%

Retirement fund body EPFO on Tuesday announced 8.75% rate of interest on provident fund deposits for the current fiscal, a move which would benefit its over five crore subscribers across the country.

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