Kingfisher crisis: Board meeting to be held today

New Delhi: The Kingfisher board would probably hold meeting today discuss ways to pull themselves up from the debt that is sucking them in as quick sand. The board is to explore ways out of the financial quagmire. According to reports, the board is likely to look at options of selling property, converting loans from its parent

Oil prices may be cut by Nov 16

New Delhi: Oil firms may cut petrol prices from November 16. If this occurs then it would be the first cut in nearly three years and the first in the 18 months since the

No bail out for Kingfisher airlines

New Delhi: Vijay Mallaya’s cries for help falls on deaf ears. The Finance Minister Pranab Mukherjee has refused to bail out the sinking Kingfisher airlines. Kingfisher had earlier sought concessions from the government on the lines of those given to Air India. Civil Aviation Minister Vayalar Ravi said Mallya’s representatives had met him seeking help

The sun is setting on Kingfisher

New Delhi: Kingfisher has been operating only 269 flights of its allocated winter schedule of 418 daily flights on Thursday. A shocking 149 flights – 36% of its

100 Kingfisher pilots tender resignation

New Delhi: Over 100 Kingfisher pilots have submitted their resignations, sources said on Thursday. It is reported that the reason behind the mass

BlackBerry service delays

Ottawa: BlackBerry users will experience service delays though its just been a month since BlackBerry services crashed worldwide, stranding some customers for up to

RBI to keep off forex market

Mumbai: Reserve Bank said it does not intend to interfere with the exchange rate and its monetary policy stance in the coming months would be determined by movement in inflation. ‘In exchange rate policy,

Anti- Bank of America protest intensifies

San Diego: Agitated hundreds of San Diegans protested in San Diego against Bank of America on Bank Transfer Day. Even as banks are declaring bankruptcy thousands of Americans withdraw their monies from large banks and locals are closing their accounts. The protestors organized a mock funeral of the American Dream and

Petrol prices hiked to 72/- per litre from midnight

New Delhi: Oil companies will hike petrol prices by about Rs 1.82 per litre to 72 per litre from midnight. This is the second big hike in four months. The decision was taken after a meeting of the heads of oil companies. Petrol prices have been raised because of the weakening of the rupee against dollar. Oil retailers claim they are losing Rs 15 crore per day due to the big gap in global and domestic prices. Indian Oil Corp (IOC), Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) now lose Rs 2.61 per litre due to high international crude oil prices and with rupee touching two-year low against the US dollar, the losses have increased the cost of importing crude oil. “After adding local taxes, the hike needed at retail level comes to over Rs 3 per litre,” a top official at one of the three state-run fuel retailers said. Petrol price were last hiked by Rs 5 per litre on May 15. Petrol price was freed from the government control in June last year but the retail rates have not moved in line with cost as high inflation rate forced the oil companies to seek ‘advice’ from parent oil ministry before revising rates. Besides petrol, the three firms are losing Rs 263 crore per day on selling diesel, domestic LPG and kerosene below cost. Diesel is being sold at a subsidy of Rs 6.05 a litre, kerosene at Rs 23.25 per litre while domestic LPG rates are under-priced by Rs 267 per 14.2 kg cylinder. Rupee fell to 49.55 per dollar on Thursday for the first time since September 2009.   MALAYALAM NEWS KERALA NEWS IN

Food prices skyrocketting

Mumbai: Food inflation rose to 12.21 per cent during the week, with expensive vegetables, pulses, fruits and milk, putting more burden on the common man.As per data released by the government