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September 20: Clicks for the day

  • September 20: Clicks for the day

    September 20: Clicks for the day

  • <p>An aeroplane flies at sunset in Brasilia September</p><p><b>The International Air Transport Association (IATA) forecast a 29% fall in 2012 industry-wide profit on the back of a weak global economy and stubbornly high jet fuel prices.</b></p><p>The 230-member IATA, whose members carry more than 93% of scheduled international air traffic, said on Tuesday it expected industry profits of $4.9 billion in 2012, compared to a revised 2011 forecast of $6.9 billion.</p>

    An aeroplane flies at sunset in Brasilia September

    The International Air Transport Association (IATA) forecast a 29% fall in 2012 industry-wide profit on the back of a weak global economy and stubbornly high jet fuel prices.

    The 230-member IATA, whose members carry more than 93% of scheduled international air traffic, said on Tuesday it expected industry profits of $4.9 billion in 2012, compared to a revised 2011 forecast of $6.9 billion.

  • <p>A worker stands in front of a ship at the port in Mumbai</p><p><b>When DP World was vying to build a fourth container terminal at Mumbai&#39;s main port this year, the Dubai-owned giant made what it thought was a solid bid, proposing to share one-fifth of the terminal&#39;s income with the government.</b></p><p>Then a rival came along with a bid that beat all-comers, offering to hand over 51% of the port&#39;s takings to New Delhi to secure the project estimated to cost Rs 6,700 crore.</p><p>Such generous terms are part of an emerging pattern of companies making ambitious -- some say unrealistic -- bids in a race to cash in on a massive push by Prime Minister Manmohan Singh&#39;s government to lure private funding into infrastructure.</p>

    A worker stands in front of a ship at the port in Mumbai

    When DP World was vying to build a fourth container terminal at Mumbai's main port this year, the Dubai-owned giant made what it thought was a solid bid, proposing to share one-fifth of the terminal's income with the government.

    Then a rival came along with a bid that beat all-comers, offering to hand over 51% of the port's takings to New Delhi to secure the project estimated to cost Rs 6,700 crore.

    Such generous terms are part of an emerging pattern of companies making ambitious -- some say unrealistic -- bids in a race to cash in on a massive push by Prime Minister Manmohan Singh's government to lure private funding into infrastructure.

  • <p>An employee sorts Indian currency notes at a cash counter inside a bank in Agartala</p><p><b>The rupee pulled back from the two-year low touched earlier on Tuesday comforted by gains in domestic equities and a rebound in the euro.</b></p><p>* Traders said inflows of around $600 million most likely on account of a 26% stake sale by Reliance Capital in its insurance arm, Reliance Life Insurance, to Japan&#39;s Nippon Life Insurance helped limit rupee losses to some extent earlier in the day.</p><p>* At 1:56 pm, the partially convertible rupee was at 48.08/09 per dollar, weaker than Monday&#39;s close of 47.815/825 but stronger from intraday low of 48.24, a level last seen Sept 25, 2009.</p>

    An employee sorts Indian currency notes at a cash counter inside a bank in Agartala

    The rupee pulled back from the two-year low touched earlier on Tuesday comforted by gains in domestic equities and a rebound in the euro.

    * Traders said inflows of around $600 million most likely on account of a 26% stake sale by Reliance Capital in its insurance arm, Reliance Life Insurance, to Japan's Nippon Life Insurance helped limit rupee losses to some extent earlier in the day.

    * At 1:56 pm, the partially convertible rupee was at 48.08/09 per dollar, weaker than Monday's close of 47.815/825 but stronger from intraday low of 48.24, a level last seen Sept 25, 2009.

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