New Delhi

AAI soft-pedals licensing of air traffic controllers by DGCA

Entrusting the responsibility of licensing air traffic controllers with the DGCA would not have “much imp­a­ct” on the operational str­ucture of the Airports Authority of India (AAI), according to a senior official. As part of complying with the ICAO norms, the civil aviation ministry has decided that the DGCA would be issuing licensing for air traffic controllers.

Petrol, diesel prices scale new highs; ‘Bharat bandh’ today

Petrol and diesel prices set new records on Sunday as they continued their upward march on fall in rupee and surge in global crude oil rates. Petrol price was on Sunday raised by 12 paise a litre and diesel by 10 paise per litre, according to the price notification issued by state fuel retailers.

The rise pushed the petr­ol price in Delhi to Rs 80.50 per litre. Diesel rate touched its highest level of Rs 72.61 a litre. Fuel prices in Delhi are the cheapest among the metros and most st­a­te capitals due to lower taxes.

Low GST collections ring alarm

Alarmed by a nearly four-fold rise in the goods and services tax (GST) compensation to states for June-July, the finance ministry is crafting a strategy to shore up tax revenues and engaging with states to identify issues hindering their collections.

Sebi may issue summons to Kochhars soon

Sebi may soon summon ICICI Bank's on-leave CEO Chanda Kochhar and her husband Deepak Kochhar as part of a probe into alleged regulatory lapses in his business dealings, officials said on Sunday.

Some other top bank officials may also be summoned, along with officials of  Videocon, which allegedly benefitted from its association with Deepak Kochhar, for personal hearings on charges against them. If validated, the market regulator’s charges against them can lead fines running into crores and penal actions like ban from markets and directorships.

Mismatch of supply and demand add to inflation worries

The kharif production this season may turn weak and there could be a shortage of cereals and pulses, hitting the common man hard in the coming days. Rice, maize and ragi and urad dal output are expected to be the worst compared to production of other foodgrain items.

The government is wor­r­i­ed about a likely supply-de­mand mismatch. The to­tal foodgrain output for kh­a­rif crops is projected to decline by 2.83 per cent to 136.75 million tonnes in 2018-19 as against 2017-18 output of 140.73 million tonnes.

PSBs explore pvt role for setting up AMCs to resolve NPA woes

Public sector banks, including State Bank of India (SBI) and Punjab National Banks (PNB), are in talks with asset management and investment funds Brookfield, KKR, BlackRock and Edelweiss to set up country’s first asset management company (AMC) that would turn ar­o­und stressed assets under the new resolution scheme Sashakt.

Sinking

These are troubles times for the airline business in India. And it is sparing no one. Indian aviation's poster boy IndiGo left investors in a tizzy as it reported a steep 97 per cent fall in profits in April-June quarter. Close on the heels, the other BSE-listed peers SpiceJet and Jet Airways too logged losses with the latter shocking industry watchers with its Rs 1,326 crore hole in its April-June financial statement.

As rupee falls exports stagnant, hits competitiveness

With a drastic fall of the rupee, India’s exports performance may have improved a little bit for the short-term but the country will see a sharp rise in imports in the long-term. Following the persistent depreciation of the rupee over a year, the country’s trade deficit widened to its highest level in more than five years in June, driven largely by a surge in oil prices and a weaker rupee. Though merchandise exports rose 17.57 per cent year-on-year in June, the trade deficit widened to $16.6 billion from $14.62 billion in May.

Rainbow rises over India as SC legalises consensual gay sex

In a historic judgment, the Supreme Court on Thursday partially struck down as unconstitutional the 158-year-old colonial law — Section 377 of IPC — which criminalises consensual homosexual acts between two consenting adults and triggering celebrations among LGBTQ activists who welcomed it as a harbinger of a more inclusive India.

Pages