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Page 878 - Business Finance

Poland's Lot Polish Airlines to start Warsaw-Delhi direct flight from Sept

Poland's flag carrier LOT Polish Airlines will start direct flights between Warsaw and Delhi from September as it views India as a "strategic market" for its growth opportunities, a senior official said Monday. One of the oldest airlines in the world, LOT Polish would commence operations to India with five weekly services and the first flight from Warsaw to Delhi would take off on September 17. "We have a fairly large vision as far as our operations to India are concerned... There is strong business activities between the two countries... India is a strategic market for LOT Polish Airlines," the airline's Regional Director DACH and India markets Amit Ray said. Based on market research, the carrier sees high demand from both sides for corporate and leisure travellers, among others. The carrier, which began services in January 1929, flies on 110 routes and connects 90 destinations. In an interview to PTI here, Ray said LOT Airlines would like to give the Indian consumers another ...

Updated On : 18 Feb 2019 | 5:15 PM IST

Dassault to showcase Falcon 2000S alongside Rafale at Aero

Dassault Aviation, manufacturers of the Rafale, Monday said it would showcase its Falcon 2000S business aircraft, certified for low visibility approach, alongside the fighter jet at the five-day Aero India Show, beginning here February 20. The 2000S was recently certified by EASA and FAA for low visibility approaches down to 100 feet, using the advanced FalconEye Combined Vision System (CVS), the company said in a statement. The first Falcon 2000 nose section produced by Dassault Reliance Aerospace Limited (DRAL), manufactured at Nagpur, will also be displayed at the show, it said. "In addition to their unrivaled combination of range, agility and airport performance, the reputation of Falcon jets in India and the surrounding region rests on Dassault Aviation's half century of experience supplying the Indian Air Force with sturdy, technologically advanced fighters for its frontline combat aircraft requirements," Dassault Aviation Chairman and CEO Eric Trappier said. The .

Updated On : 18 Feb 2019 | 5:10 PM IST

Singapore unveils budget bonanza for elderly with election anticipated

(Reuters) - Singapore unveiled an expansionary budget for the next financial year on Monday, setting aside S$6.1 billion for the welfare of its elderly in a generous package before an election expected as soon as this year.

Updated On : 18 Feb 2019 | 5:05 PM IST

Yes Bank shares pare most of early losses, end 2.5% lower

Shares of Yes Bank pared most of their early losses and closed 2.5 per cent lower Monday after the Reserve Bank warned the lender of regulatory action for disclosure of nil divergence report in violation of norms. The company's shares closed 2.54 per cent lower at Rs 213.15 on BSE. During the day, it plunged 8 per cent to Rs 201. On NSE, shares dipped 2.28 per cent to close at Rs 214. Yes Bank, in a press release earlier last week, had said the RBI has not found any divergence in the asset classification and provisioning done by the lender during 2017-18. In a regulatory filing Friday, Yes Bank said it has received a letter from the RBI which noted that the Risk Assessment Report (RAR) was marked 'confidential' and it was expected that no part of the report be divulged except for the information in the form and manner of disclosure prescribed by regulations. "Therefore, the press release breaches confidentiality and violates regulatory guidelines. Moreover, NIL divergence is not an ...

Updated On : 18 Feb 2019 | 5:05 PM IST

Sandeep Mohan Bhatnagar, Ashok Kumar Pandey appointed CBIC members

Senior IRS officers Sandeep Mohan Bhatnagar and Ashok Kumar Pandey have been appointed as members in the Central Board of Indirect Taxes and Customs (CBIC), the Personnel Ministry said in an order issued on Monday. Pandey is a 1983-batch Indian Revenue Service (Customs and Central Excise) officer, while Bhatnagar a 1984-batch IRS officer. The Appointments Committee of the Cabinet has approved their appointment, the order said. The CBIC board is headed by a chairman and can have a maximum of six members. With the latest appointments, the board is in its full strength now.

Updated On : 18 Feb 2019 | 5:05 PM IST

Nifty February 2019 futures at premium

Turnover in F&O segment declines

Updated On : 18 Feb 2019 | 5:04 PM IST

Market drops sharply as pivotals slide

Domestic stocks ended with steep losses amid broad based selling pressure in index pivotals. After opening lower, key indices extended losses and hit fresh intraday low in mid-morning trade. Indices came off day's low in early afternoon trade. Benchmarks traded near day's low in mid-afternoon trade. Indices slumped in late trade as selling pressure intensified.

Updated On : 18 Feb 2019 | 5:04 PM IST

Quick Wrap: Nifty Energy Index declines 1.26%

Updated On : 18 Feb 2019 | 5:04 PM IST

AITUC condemns plan to auction oil, gas blocks of ONGC, OIL

A central trade union on Monday condemned the plan to privatise 97 oil and gas fields discovered by state-run oil firms, terming it as a "quid pro quo" by the government to corporates. The All India Trade Union Congress (AITUC) argued that the government has no moral right to take such decisions now as there will not be any session of the Lok Sabha to vet such proposals. "Reports have appeared in the press that a Group of Ministers-GoM- (headed by the Finance Minister and assisted by Ministers of Coal, Commerce, Power and Petroleum) has received and approved in its very first and last meeting, plans to auction 97 'small' oil and gas fields discovered by ONGC and OIL, the navaratna public sector companies, to private corporates," the AITUC claimed. A cursory reading of the report shows that the proposal originated in the Prime Minister's Office, followed by a bureaucratic panel, headed by the CEO of the NITI Aayog and thereafter, rubber-stamped by the GoM, the union said in a ...

Updated On : 18 Feb 2019 | 5:00 PM IST

Geopolitical tension after Pulwama terror strike erodes investor confidence

Equity benchmark indices traded below their psychological support levels on Monday while the National Stock Exchange (NSE) expressed condolences to families of CRPF jawans killed in the Pulwama terror attack.After a flat start, negative sentiments prevailed as investors remained edgy over the short-term prospects.Prime Minister Narendra Modi assured against Pakistan-based terror group, Jaish-e-Mohammed, which claimed responsibility of Thursday's terror strike in Pulwama. The impending general elections and lacklustre corporate results during third quarter of current fiscal further dampened the spirit.At the closing bell, the S&P BSE Sensex was down 310 points at 35,498, while the Nifty 50 closed 83 points down at 10,641.Shares of Yes Bank Ltd closed 2.6 per cent lower after being pilled up by the Reserve Bank of India for breaching confidentiality and violating regulatory guidelines.Other prominent losers were Reliance Industries, Asian Paints, TCS, Bajaj Finserve and HCL Tech. ...