08242016Wed
Last update: Wed, 24 Aug 2016 09pm

Business & Finance - Industries & Sectors

AirAsia India outlines plans to expand fleet, network BENGALURU: Budget airline AirAsia India said on Wednesday that it planned to gradually expand its fleet and network in India as it seeks to boost its small share of a fast expanding domestic market. The airline, a tie-up between Malaysian carrier AirAsia Bhd and India's Tata Sons conglomerate, said it planned to add a seventh Airbus A320 jet to its fleet and bring the south Indian city of Hyderabad into its network of destinations by September. Speaking at a press conference on Wednesday, AirAsia India's Chief Executive Amar Abrol said the airline was looking to expand further and that it would be investing significant sums of money in the future. The company also has international expansion in mind, but its focus for now is to increase its fleet size to 20, Abrol said in an interview with Reuters."We are evaluating right now, we are in the midst of finalizing a ...


Business & Finance - Industries & Sectors

Rosneftegas should make Rosneft privatisation recommendations by Sept. 1 MOSCOW: State-controlled Rosneftegas, which owns 69.5 percent of Russia's Rosneft , should present by Sept. 1 names of potential candidates to participate in Rosneft's privatisation, RIA news agency reported, citing the economy ministry. The agency also reported that the economy ministry said that Rosneftegas should also propose its recommendations on the terms, price and the size of the planned stake sale. Earlier on Wednesday, First Deputy Prime Minister Igor Shuvalov said that privatisation of Rosneft, ...

Business & Finance - Banking & Finance

St. Louis Fed's Bullard sticks with single rate hike outlook ST. LOUIS: With the US Federal Reserve perhaps edging towards a September rate increase, St. Louis Federal Reserve president James Bullard is sticking with his view that a single move is all that's needed for a long time to come.In a presentation prepared for delivery in St. Louis on Wednesday, he said there was no reason yet to conclude the US has shifted from the low-growth, low-inflation "regime" that makes low rates appropriate for what ...

Business & Finance - Industries & Sectors

AT&T revamps cellular data plans, eliminates overage fees NEW YORK: AT&T Inc, the No. 2 U.S wireless provider, said on Wednesday that it would roll out a new data plan that does away with overage fees and reduces data speeds for wireless customers who surpass their data allowance. Beginning Sunday, customers can choose the new Mobile Share Advantage plan and pay for extra data, if needed, or work with slower data speeds instead of paying for overages, the company said in a statement. ...

Business & Finance - Industries & Sectors

Rio prosecutors investigate tax breaks for ThyssenKrupp plant SAO PAULO: Rio de Janeiro prosecutors opened a criminal investigation to evaluate the legality of tax breaks given to German steel group ThyssenKrupp AG by Rio's city and state governments, the prosecutor's office said on Wednesday. The investigation aims to find out whether or not Rio authorities broke laws regarding the concession of fiscal incentives to ThyssenKrupp large steel slab plant built in Rio, the Companhia Siderurgica do Atlantico (CSA). The plant is already a ...

Business & Finance - Industries & Sectors

Ryanair hikes Italy investment after govt does tax U-turn ROME: Low-cost airline Ryanair said on Wednesday it had reversed a decision to cut back operations in Italy and would instead invest a billion dollars in the country in 2017 after the government froze plans to hike passenger departure taxes. Ryanair will add 10 new aircraft to its Italian network and open 44 new routes in a move it said would lift its passenger traffic by 10 percent to 35 million next year."We are talking ...

Business & Finance - Managed Funds

US bond prices steady ahead of Fed minutes NEW YORK: US Treasury prices were little changed on Wednesday with the two-year yield hitting a three-week high, as traders waited for possible clues on the timing of an interest rate increase from the Federal Reserve.The US central bank is scheduled to release the minutes of its July 26-27 policy meeting at 2 p.m. (1800 GMT)."We are just waiting for the minutes," said John Canavan, market strategist at Stone & McCarthy Research Associates in Princeton, ...