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Mar 20: No Vodafone case review

  • Mar 20: No Vodafone case review

    Mar 20: No Vodafone case review

  • Mallya to meet DGCA

    A Kingfisher Airlines staff member walks through their empty check in area at Bengaluru International Airport in Bangalore

    Chief of ailing Kingfisher Airlines Vijay Mallya will meet the DGCA today to present a clear picture of the cash-strapped private carrier.

    "We are explaining the situation to DGCA and I hope he will be satisfied. I am meeting him today...I can tell you after that what he has to say," Mallya told reporters outside the Parliament House.

  • Airline profits cut

    A traveller walks past a photograph of a Cathay Pacific 747 passenger jet, at the Hong Kong International Airport

    International Air Transport Association has cut its forecast for global airline profits this year due to a sharp rise in oil prices, saying a spike to $150 per barrel could lead to losses as high as $5.3 bn.

    In its financial forecast for 2012, IATA forecast industry profits of $3 bn on Tuesday, down from a previous estimate of $3.5 bn. The revised forecast implies an average profit margin of 0.5%, down from 0.6% in the forecast IATA made in December.

  • Satyam, Tech Mahindra merger tomorrow

    A security guard stands outside the head office of Satyam Computer Services in Hyderabad

    The boards of Satyam Computer Services Ltd and Tech Mahindra Ltd, IT services providers part of the Mahindra group, will meet on Wednesday to consider a merger, the companies said on Tuesday in separate statements.

    Billionaire Anand Mahindra purchased Satyam in a government-sponsored sale in 2009 after the founder of the Hyderabad-based software services provider admitted to one of the largest accounting frauds in India.

  • Anshu Jain's pay drops

    Deutsche Bank co-head of investment banking Anshu Jain attends the annual shareholders meeting in Frankfurt

    German lender Deutsche Bank said co-chief executive designate Anshu Jain earned 5.8 mn euros in 2011, down a quarter and less than the 6.3 million awarded to his boss Josef Ackermann.

    Jain is set to take over as co-CEO alongside Juergen Fitschen, who saw a slight decline in his pay to 2.9 million euros, when Ackermann steps down in May.