Top Headlines: Manmohan slams govt on economy, Hong Kong effect on airlines

Here are the top news stories that made headlines today

Modi govt's doctrine of governance behind economic slowdown: Manmohan Singh

Former Prime Minister Manmohan Singh has said India's economic slowdown is the result of 'profound fear and distrust' among people who act as agents of economic growth. The tearing of our social fabric of trust is the fountainhead of our current economic malaise, he said. Singh blamed the Modi government for "rupturing" the country's social fabric through "mala fide unless proven otherwise" doctrine of governance.

India not facing 5% slowdown, we are the fastest growing economy: Govt

India is not facing 5 per cent economic slowdown and continues to be the fastest growing economy in the world, Union Minister Anurag Thakur said in Lok Sabha today. During Question Hour, Thakur also said that a number of steps are being taken by the government to strengthen the economy that includes merger of banks and tax concessions to industries.

Grant 3-yr moratorium, extended timelines for payment of dues: COAI to govt

The government should grant telecom companies a three-year moratorium followed by an extended timeline for payment of all statutory dues at easier interest rates, as the telecom sector is reeling under massive losses after the Supreme Court ruling on AGR liabilities, COAI said on Monday.

Cellular Operators Association of India (COAI) Director General Rajan Mathews told PTI that operators need "oxygen" and urged the government to take a call on debt restructuring of all the dues that telecom operators owe to the government.

Amazon doing extremely well in India; hopes for regulatory stability: Bezos

E-commerce giant Amazon is doing "extremely well" in India, its founder and CEO Jeff Bezos has said while expressing hope for regulatory stability in the country. Bezos' remarks came in response to a question on Amazon's concerns over some Indian policies with regard to digitization.

"Regulatory stability is the thing that we would always hope for India. Whatever the regulations are ... they are stable in time and that's one of the things we're hoping will now be true. We'll see," said Bezos.
 

Kashmir admin shifts 34 political prisoners to MLA hostel as winter begins

As Srinagar reeled under harsh winter conditions, the Jammu and Kashmir administration on Sunday shifted all 34 political prisoners, lodged at Centaur Hotel since August 5, to the MLA Hostel as the facility lacked proper heating arrangements, officials said. The winter chill took a toll on the health of the detenues -- National Conference, PDP and People's Conference leaders and prominent social activists -- and the security personnel guarding them.
 

AirAsia to SpiceJet, Asian airlines slash flights to Hong Kong amid unrest

Several Asian airlines have cut flights to Hong Kong over the coming weeks, an industry scheduling publication showed, as anti-government protests in the city grow increasingly violent and disrupt daily life. Routes Online said the latest schedules showed cancellations from PT Garuda Indonesia (Persero) Tbk, India's SpiceJet Ltd, Malaysia's AirAsia Group Bhd, South Korea's JejuAir Co Ltd and Jin Air Co Ltd and the Philippines' PAL Holdings Inc and Cebu Air Inc.

INX Media case: ED moves HC seeking rectification of inadvertent error in Chidambaram's bail

The Enforcement Directorate on Monday approached the Delhi High Court seeking rectification of an "inadvertent" error in the order denying bail to former Union finance minister P Chidambaram in the INX Media money laundering case. The ED in its application urged the court to correct the "accidental slip/inadvertent error" in the November 15 verdict passed by Justice Suresh Kait.
 

SpiceJet in talks with Boeing to buy more 737 Max planes: Ajay Singh

SpiceJet is in talks with Boeing Co to buy more 737 Max aircraft to feed its expansion plans, a deal that could mark a Dubai Airshow coup for the grounded narrow-body. A sales lull for the Max, idled globally since March, allows SpiceJet to acquire planes at a lower cost, Chairman Ajay Singh said in an interview with Bloomberg TV at the biennial event. He said the carrier is looking to set up a new hub in the Middle East and expand to eastern Europe.
 

S&P revises Tata Steel UK's outlook to stable, 'B+' Rating Affirmed

Standard & Poor’s has revised its outlook on Tata Steel UK Holdings (TSUKH) from “positive” to “stable” in line with parent Tata Steel. The outlook revision reflects view that Tata Steel will deleverage slower than earlier expectations as the outlook for steel prices weakened materially over the last three quarters.

“We expect a weaker medium-term outlook on steel prices to diminish Tata Steel's EBITDA and consequently its pace of deleveraging, which will weigh on the company's financial strength," S&P said in a statement.