Etihad to raise stake in cash-strapped Jet Airways: Source

Agencies
January 15, 2019

Dubai, Jan 15: Etihad Airways, which owns 24 percent of debt-laden company Jet AirwaysNSE 5.20 %, plans to increase its stake in the Indian airline, a source close to the Abu Dhabi carrier told news agency.

Shares in India's Jet Airways jumped over 18 percent on Monday after CNBC TV18 reported earlier on Monday that founder and chairman Naresh Goyal was likely to step down from the board and give up majority control. The report also said that Etihad may infuse more capital into Jet.

The source, who spoke on condition of anonymity, said Goyal was on his way out but did not clarify if that would mean he is stepping down as chairman or from the board.

Etihad putting more money into the Indian carrier is conditional on Goyal diluting his stake, a source told Reuters last month.

Even so, Etihad's stake will be capped at 49 percent due to foreign ownership rules in Indian airlines and if it goes past the 25 percent ownership threshold, it would need to adhere to capital markets regulations and make an open offer to shareholders to buy a further 26 percent stake.

CNBC TV18, citing sources, reported that Goyal would trim his 51 percent stake to 20-25 percent and agree to voting rights on his stake being capped at 10 percent.

Etihad declined to comment. Jet and Goyal did not immediately respond to emails seeking comment.

Jet said on Jan. 2 it had defaulted on debt payments to a consortium of Indian banks and that it was in talks with the consortium led by State Bank of IndiaNSE 0.87 %.

The 25-year-old airline is facing financial difficulties and owes money to pilots, lessors and vendors. Intense pricing competition, a weak rupee and rising fuel costs weighed on Indian airlines in 2018.

Last week, Reuters reported that crisis talks between Jet and aircraft lessors had failed to ease the row over late payments, prompting some lessors to explore repossessing their aircraft.

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News Network
June 27,2020

New Delhi, Jun 27: Prime Minister Narendra Modi on Saturday said that India fared much better compared to some other countries in the fight against the COVID-19 pandemic. The PM made this observation while delivering the inaugural address to mark the 90th birth anniversary celebrations of Reverend Dr Joseph Mar Thoma Metropolitan.

"Earlier this year, some people had predicted that the impact of the virus in India would be very severe. Due to lockdown, many initiatives have been taken by the Government and in this people-driven fight, India is much better placed than many other nations. India's recovery rate is rising," Modi said in his virtual address.

He further warned that the time was not apt to "let our guard down".

The prime minister greeted the Mar Thoma Metropolitan and wished him a "long life and best health."

"Dr Joseph Mar Thoma has devoted his life for the betterment of our society and nation. He has been particularly passionate about the removal of poverty and women empowerment," the prime minister said.

Praising the Mar Thoma Church for its contributions to the country the Prime Minister added that it has worked to bring a positive difference in the lives of people in the country in areas of healthcare and education.

"The Mar Thoma Church is closely linked with the noble ideals of Saint Thomas, the Apostle of Lord Christ. India has always been open to spiritual influences from many sources. It is with this spirit of humility that the Mar Thoma Church has worked to bring a positive difference in the lives of our fellow Indians," Modi said.

Followers of the Mar Thoma Church from India and abroad participated in the programme through video conference.

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Agencies
January 25,2020

Patna, Jan 25: JD Women's College in Patna has issued a direction to the students to follow the prescribed dress code on the campus while stating that wearing a 'burqa' in college is prohibited.

"All students have to come to college in the prescribed dress code, every day except on Saturday. Students are prohibited from wearing 'burqa' in college", reads a notice signed by the Principal and Proctor of the college.

The college administration has also imposed a fine of Rs. 250 for violation of the norm.

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Abdullah
 - 
Sunday, 26 Jan 2020

I think this college management will allow girl students to wear tight jeans + t-shair and miniskirts but is not allowing a girl to cover her body.    Are we in ancient days where humans had no dress to cover themselves or in the time of Nair kings in kerala who restricted ladies of low caste from covering their chest.     

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Agencies
March 22,2020

Mumbai, Mar 22: The total number of coronavirus positive patients in Maharashtra has risen to 74 with 10 more positive cases reported in the last 24 hours, officials said.

Of the 10 new cases, 6 are in Mumbai and 4 in Pune, they said on Sunday.

Earlier this week, a Covid-19 patient died in Mumbai.

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