MUMBAI: Adani Group, India’s fifth-largest conglomerate by market value, intends to bid for nearly a dozen airports slated for privatisation as part of its Rs 1-lakh-crore investment plan for aviation infrastructure over the next five years. Earlier this year, govt announced plans to lease out 11 airports, including those in Amritsar and Varanasi.“Out of the…
MUMBAI: Billionaire Gautam Adani is checking into hospitality in a big way, with plans to build “one of the country’s largest hotel portfolios”, anchored around his group’s airports and real estate assets. The move positions the group in direct competition with Tata Group’s Taj, ITC Hotels, and the Oberoi chain (in which Reliance Industries and…
US President Donald Trump speaks during an event on prescription drug prices in the Roosevelt Room of the White House in Washington (Picture credit: AP) US President Donald Trump on Friday announced agreements with nine major pharmaceutical companies to lower prescription drug prices in the United States, marking a significant push to align domestic costs…
NEW DELHI: Govt on Friday directed IndiGo to start the process of compensating passengers affected by its massive flight disruptions this month at the earliest.The airline will, from Dec 26, start giving travel vouchers worth Rs 10,000 each to “severely impacted customers who were stranded at airports for many hours” on Dec 3, 4 and…
NEW DELHI: Delhi HC on Friday sought a response from Customs department on a plea filed by InterGlobe Aviation, the operator of IndiGo airline, seeking a refund of over Rs 900 crore paid as Customs duty on aircraft engines and parts re-imported into India after overseas repairs, reports Abhinav Garg.A bench of Justices V Kameswar…
NDA functionaries, including ministers, would soon hit the ground to explain and create more awareness about benefits of the new rural employment guarantee scheme VB G-RAM-G, which has replaced the UPA-era MNREGA, to negate the opposition’s narrative. This was discussed at Friday’s Cabinet meeting, which PM Modi chaired soon after his foreign trip, sources said.TOI…
MUMBAI: ICICI Prudential Asset Management Co that closed its blockbuster IPO on Tuesday, listed on Friday at 20% premium over its IPO price and closed the session as the most-valued fund house in India. The stock on BSE listed at Rs 2,606 compared to its IPO price of Rs 2,165. It closed the session at…
New Delhi: Japan’s Mitsubishi UFJ Financial Group (MUFG) will acquire a 20 per cent in non-bank finance company Shriram Finance (SFL) for $4.4 billion (Rs 39,618 crore), in what is the largest foreign direct investment in the country’s financial services space. MUFG will pick up the minority stake through preferential equity shares, Shriram Finance said…
MUMBAI: GVK Group chairman GVK Reddy’s daughter Shalini Bhupal is set to buy out Indian Hotels’ 25.5% stake in Taj GVK Hotels & Resorts for Rs 592 crore, making her the company’s largest shareholder. Prior to the deal, Bhupal, who is also the MD of the Hyderabad-based hospitality player, owned just 5,000 shares or 0.01%…
NEW DELHI: After questioning Jai Anmol, industrialist Anil Ambani‘s son, for more than seven hours on Friday in a Yes Bank related money laundering case, the Enforcement Directorate has summoned him again on Saturday to explain certain transactions.Anmol Ambani’s questioning was held at ED headquarters in Delhi days after the agency had a long session…
