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Politics

Indian infra major to build airport in Europe and operate it for 35 years with partner TERNA

NEW DELHI: In a first, an Indian infra major will build and operate an airport in Europe. GMR Airports Ltd (GAL) Monday said it has announced its has achieved “concession commencement date” to design, build and operate a new airport at Crete, Greece. Greek Prime Minister Kyriakos Mitsotakis has laid the foundation stone of this …

Politics

Hundreds of Chinese firms seek billions in loans amid coronavirus outbreak: Report

BEIJING: More than 300 Chinese firms including Meituan Dianping, China’s largest food delivery company, and smartphone maker Xiaomi Corp are seeking bank loans totalling at least 57.4 billion yuan ($8.2 billion) to soften the impact of the coronavirus, two banking sources said. The firms, including China’s dominant ride hailing service provider, Didi Chuxing Technology Co, …

Politics

DGCA suspends IndiGo captain for misbehaving with wheelchair bound senior citizen

NEW DELHI: The aviation regulator on Monday suspended an IndiGo captain’s flying licence for three months after its probe that the pilot had behaved aggressively with a wheelchair-bound senior citizen and her daughter on a Chennai-Bengaluru flight last month. The daughter had complained on social media on January 14 — a day after her harrowing …

Politics

Inflation likely hit a near six-year high in January: Report

BENGALURU: Retail inflation likely rose to a near six-year peak in January as food prices stayed high, according to a small majority of economists in a Reuters poll, which may persuade the Reserve Bank of India (RBI) to keep interest rates on hold in the coming months. The February 5-7 poll consensus of more than …

Politics

Passenger Vehicle Sales: Domestic passenger vehicle sales down 6.2% in January | India Business News

GREATER NOIDA: Domestic passenger vehicle sales declined 6.2 per cent to 2,62,714 units in January from 2,80,091 units in the year-ago month, automobile industry body SIAM said on Monday. Car sales last month were also down 8.1 per cent at 1,64,793 units as against 1,79,324 units in the January last year, according to data released …

Politics

Economy close to collapse, fear in country: Chidambaram

NEW DELHI: Former finance minister P Chidambaram on Monday tore into the Modi government’s handling of the economy, saying it was close to collapse and was been attended by “very incompetent doctors.” Initiating the debate on the Union Budget for 2020-21, he said rising unemployment and falling consumption was making India poorer. The economy, he …

Politics

Language no bar, ‘udo baar baar’: IndiGo launches website in Hindi

NEW DELHI: In a first for Indian carriers, IndiGo launched its website in Hindi on Monday. The airline plans to have websites in several Indian languages, starting with Hindi. “By launching a complete Hindi website, IndiGo took another step towards enhancing its regional connect by offering the customer’s language of choice as an interface to …

Politics

States to decide when petroleum products to be taxed under GST: Nirmala Sitharaman

KOLKATA: Union Finance Minister Nirmala Sitharaman on Sunday said that petrol and petroleum products are already under Goods and Services Tax (GST) and the states have to decide when they want them to be taxed under the regime. “Whenever the states are ready to bring in petroleum under the GST, another amendment will not be …

Politics

Govt seeks to engage itself with businesses, industries: Nirmala Sitharaman

KOLKATA: Union Finance Minister Nirmala Sitharaman on Sunday said that the government wants continuous engagement with industries and businesses and will act as a facilitator for hassle-free payments of taxes. She was interacting with the members of trade and industries here, a week after presenting the Union Budget for 2020-21 in Parliament on February 1. …

Politics

Centre to release another Rs 35,000 cr compensation to states soon

NEW DELHI: The Centre will soon release another Rs 35,000 crore to states to compensate for the revenue loss on account of GST rollout, an official said. Under the Goods and Services Tax (GST) law, states are guaranteed compensation for revenue loss for 5 years if their revenue does not increase 14 per cent on …