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Air India chief Campbell Wilson on Wednesday said the pace of liberalisation of bilateral flying rights should not be "too much" that it undercuts the investments by Indian airlines and other aviation players. India is one of the world's fastest growing civil aviation markets, and various foreign carriers, especially from the Gulf, have been raising concerns that the country is not providing more bilateral rights as they look to tap the market potential. The Tata Group-owned Air India is working on revamping and expanding its fleet to offer more services amid rising air traffic demand. According to Wilson, around 95 per cent of the traffic that Indian airlines carry is terminating or originating in India. "For some of the other carriers, upwards of 60 per cent, 70 per cent and in some cases 90 per cent of what they are uplifting from India is transiting and going somewhere else. "And to the extent that Indian carriers have invested tens of billions of dollars in wide-body aircraft
Spotify said Tuesday that founder Daniel Ek is stepping down as CEO to become the executive chairman, in an announcement that sent its shares sliding in premarket trading. The Stockholm-based streaming giant said Ek will be replaced by two lieutenants who will become co-CEOs: Chief Product and Technology Officer Gustav Soderstrom and Chief Business Officer Alex Norstrom. The pair, who are also currently copresidents, will transition into their new jobs on January 1 and will report to Ek. Spotify said in a press release that the move "formalises" how Spotify has been operating since 2023, with Soderstrom and Norstrom largely leading strategic development and operational execution. Ek said that he had already "turned over a large part of the day-to-day management and strategic direction" to the pair. "This change simply matches titles to how we already operate," he said. Since Ek founded Spotify about two decades ago, the platform's rise has helped transformed the music business and
Prosecutors say Luigi Mangione, accused of killing the CEO of UnitedHealthcare on a Manhattan sidewalk, has inspired others to embrace violence over reasoned debate. As evidence of Mangione's growing influence, prosecutors cited the last month's deadly mass shooting at the National Football League headquarters. The prosecution outlined the threat in a filing late Wednesday on a procedural matter in federal court in Manhattan, where they plan to try to convince a jury that Mangione deserves death. No federal trial date has been set. Mangione, who pleaded not guilty to state and federal charges, was arrested five days after the Dec. 4 killing of CEO Brian Thompson. He is being held without bail in a federal jail in Brooklyn. US Attorney General Pam Bondi announced in April that she was directing federal prosecutors to seek the death penalty for an act of political violence and a premeditated, cold-blooded assassination that shocked America. In their filing Wednesday, prosecutors wro
Indian stock markets remain well-anchored on the strength of the country's fundamentals - a sustained high economic growth rate, robust savings pools, strong banking balance sheets, a reform-driven agenda, and a rapid wave of digitisation, NSE Managing Director and CEO Ashishkumar Chauhan said on Thursday. Acknowledging the ongoing turbulence in equities, he noted that domestic markets are positioned to absorb global volatility while continuing to offer long-term stability and opportunity to investors. His remarks come at a time when Indian benchmarks have been reeling under pressure, with renewed trade tensions and fresh US tariffs sparking a wave of selling. Reflecting the impact, the 30-share BSE Sensex tanked 705.97 points to close at 80,080.57 on Thursday, while the 50-share NSE Nifty dropped 211.15 points to 24,500.90. This follows Tuesday's sharp fall, when the Sensex lost 849.37 points and the Nifty declined 255.70 points. The additional 25 per cent tariff imposed by the US
Russian oil giant Rosneft-backed Nayara Energy has appointed Teymur Abasguliyev as the new CEO of the company, replacing a European national who had to resign following EU sanctions on the company. The appointment of Abasguliyev, an Azerbaijan national who currently as the chief financial officer at SOCAR Turkiye Enerji A.S, was confirmed by the Nayara board at its meeting on Tuesday, two sources aware of the matter said. Nayara spokesperson did not immediately respond to an email sent for comments. Educated at Azerbaijan's Baku State University, Abasguliyev previously worked at PricewaterhouseCoopers from 1996 to 2013. He has been the CFO of Group Companies at SOCAR Trkiye Enerji A.S. since 2013. Nayara Chief Executive Alessandro Des Dorides had to quit shortly after the European Union imposed sanctions on the refiner as part of a new raft of measures against Russia over its war with Ukraine. Sergey Denisov, who was Nayara's Chief Development Officer, was named the interim CEO ..