BUSINESS
Indian equities steady in early trade on Friday
At 9.30 a.m., Sensex and Nifty traded largely steady 57,340 points and 17,068 points, respectively. HCL Technology, SBI Life Insurance, Ultratech Cement, United Breweries were some of the top gainers during the early trade, exchange data showed.
Air France-KLM and IndiGo to start codeshare agreement
A codeshare agreement allows airlines to sell seats on each others' flights in order to provide passengers with a wider choice of destinations. With this new partnership, Air France and KLM will offer their customers access to 25 new Indian destinations. "From their hubs in Paris and Amsterdam, Air France and KLM already serve 4 destinations in India -- Delhi, Mumbai, Chennai and Bengaluru," a joint statement said.
GMR Group says NCLT approves non-airport demerger plan
"The Hon'ble National Company Law Tribunal, Mumbai Bench (Tribunal) has sanctioned the composite scheme of arrangement amongst GMR Power Infra Limited (GPIL), GMR Infrastructure Limited (GIL) and GMR Power and Urban Infra Limited (GPUIL) and their respective shareholders (Scheme) under Sections 230 to 232 of the Companies Act, 2013," the company said in a statement
Turkey, Qatar likely to jointly operate Afghan airports
The airports in Kabul, Balkh, Herat, Kandahar and Khost province will be jointly operated by Turkey and Qatar if they reach an agreement with the Islamic Emirate's officials. The Islamic Emirate's Ministry of Transport and Aviation said the Taliban government will fully focus on the country's national interests while signing agreements with Turkish and Qatari companies.
RBI extends card tokenisation deadline till June 30
"The timeline for storing of CoF (card-on-file) data is extended by six months, i.e., till June 30, 2022; post this, such data shall be purged," it said in a notification. "In addition to tokenisation, industry stakeholders may devise alternate mechanism(s) to handle any use case or post-transaction activity that currently involves or requires storage of CoF data by entities other than card issuers and card networks."
India looking at currency swap option to help exporters as Sri Lanka plunges into forex crisis
The mechanism could entail a swap of a particular amount of money pegged with the US dollar. For example, if the swap mechanism is decided for a sum of $100 million, then the RBI will provide Indian rupees to Colombo that is equivalent to the said amount while it will receive Sri Lankan currency in lieu of it.
Global risk-on sentiment buoys indices; PSU banks' stocks rise
Initially, both the indices opened with an upgap and rose for the third consecutive session. Globally, Asian shares were modestly higher on Thursday after stocks advanced on Wall Street with encouraging reports about the potential impact of the Omicron variant of coronavirus and stronger US economic data. Similarly, European stock markets had a higher but fairly cautious opening on Thursday, building on gains late in Wednesday's session.
AirAsia India expects full-traffic recovery in 2022 sans 3rd Covid wave
In a conversation with IANS, Ankur Garg, Chief Commercial Officer, AirAsia India cited that overall airline industry is operating at 83 per cent pre-Covid levels and the traffic has been recovering at a fast rate. "Festive period beginning October saw a significant bounce back in passenger traffic which is continuing till the year-end."
Reliance not wrong in demanding rightful claim from DMRC
On September 9, Reliance Infrastructure Ltd won a four-year-long drawn battle for control of money from the arbitration award. The Supreme Court dismissed a plea by the DMRC challenging an arbitration award in favour of Reliance Group, following a dispute on running of Delhi Airport Express Metro line. In another jolt to the DMRC, on November 23, the top court junked its review petition against the September order.
IndianOil to invest Rs 9,028 cr for new crude oil pipeline system
Under this project, IndianOil would also build nine crude oil tanks of 60,000 KL each at Mundra, which, apart from meeting operational requirements, would also help in enhancing crude oil storage capacity in the country. "The total estimated cost of the project is Rs 9,028 crore. The IndianOil Board, at its meeting held on 20th December 2021, has approved the investment proposal," IndianOil said in a statement."
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