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AAI set to invite bids for remote ATCs

New Delhi: The Airports Authority of India has prepared the specifications for remote air traffic control towers and open tendering process to select entities for setting up such facilities will start shortly, a senior official said. State-owned AAI, which manages more than 120 airports, is expected to operationalise more number of aerodromes, especially with new routes under the regional air ...

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Macro instability due to UPA policies, says Arun Jaitley

New Delhi: Arun Jaitley, on Sunday, blamed the policies of Congress-led UPA  government for India’s macro instability and equating it to poor quality of growth. During the UPA regime, “fiscal discipline was compromised and the banking system was advised to go in for reckless lending notwithstanding the fact that it would eventually put the banks at a risk. And yet ...

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Global cues, macros to dictate markets direction

Mumbai: With the Q1FY19 results season showing some signs of gradual improvement in corporate earnings growth albeit on a lower base driving the equity markets to their all time high, experts believe that the performance of the markets over the next few months would depend on the strength of economic recovery, level of crude oil prices and global trade tensions. ...

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India may see FY19 CAD widen over 2.5 per cent

New Delhi: India’s current account deficit is expected to widen to 2.8 per cent of the GDP in this financial year, says a Nomura report. With rising oil prices, depreciating rupee and outflow of portfolio investments, there are concerns that CAD might rise in the current fiscal. “Overall, we expect the current account deficit to widen to 2.8 per cent ...

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India Inc extends aid to inundated Kerala

New Delhi: With heavy rains continuing to wreak havoc in Kerala, India Inc has extended relief measures to the victims by offering donations. Meanwhile, industry body CII has set up a task force chaired by its former president Kris Gopalakrishnan to work on relief measures for victims in flood devastated Kerala in coordination with the state government and the district ...

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ONGC repays a third of loan taken to buy HPCL

New Delhi: State-owned Oil and Natural Gas Corp (ONGC) will not sell its stake in IOC and GAIL in the near future as it has used internal resources to repay close to a third of the Rs 24,881 crore loan it had taken to buy Hindustan Petroleum Corp Ltd (HPCL), people with direct knowledge of the matter said. ONGC had ...

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Intel India trains 99,000 people in artificial intelligence

Mumbai: US chipmaker Intel has trained as many as 99,000 developers, students and professors in artificial intelligence (AI) in India since April 2017, against a target of 15,000 for the first year of its programme, according to the tech major. It has also tied up with premier educational institutes like the IITs in Delhi, Mumbai, Kharagpur, Kanpur, Chennai, and IIITs ...

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DoT blacklists bank guarantees issued by Standard Chartered Bank

New Delhi: The telecom department has blacklisted bank guarantees issued by Standard Chartered after the bank failed to invoke one that was issued for Aircel Group. In a strongly worded office memorandum sent to all telecom operators and concerned officers, the DoT (Department of Telecom) has directed entities that they should not accept bank guarantee (BG) from Standard Chartered Bank, ...

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Over 2 million Muslims begin annual hajj pilgrimage

Mecca: More than 2 million Muslims have begun the annual hajj pilgrimage in Saudi Arabia. From first light on Sunday, throngs of the faithful have circled the cube-shaped Kaaba in Mecca, one of the holiest sites in Islam. The Kaaba represents the metaphorical house of God and the oneness of God. Observant Muslims around the world face toward the Kaaba ...

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