Jet Airways shares slump after reports of Etihad's non-binding offer

Agencies
May 13, 2019

Bengaluru, May 13: Bengaluru: Shares of Jet Airways Ltd fell as much as 11.4 per cent on Monday after media reports said a buyout offer from Middle Eastern carrier Etihad Airways was non-binding and might not guarantee a deal for the struggling Indian carrier.

Etihad, which owns an about 24 per cent stake in Jet, submitted a bid for the airline, the unit of State Bank of India (SBI) overseeing the sale of the stricken carrier said on Friday.

That had raised hopes of a bailout for cash-strapped Jet, which has about USD 1.2 billion in bank debt.

The Mint newspaper said on Monday that Etihad wanted a commitment from banks on additional loans once it infuses equity into the company. The Middle Eastern carrier had not been able to find a local partner and lenders may need to take about 80 per cent haircut on their outstanding loans to Jet Airways, the newspaper said, citing banking sources.

Shares of the carrier, which have tumbled almost 70 per cent over the past year, were down 5 per cent at Rs 144.3, as of 0445 GMT.

Jet, which owes vast sums to its lessors, pilots, fuel suppliers and other parties, stopped all flights from April 17 after its lenders refused to extend more funds to keep the carrier flying.

SBI also received two unsolicited, non-binding bids, the bank said on Friday.

Jet and SBI were not immediately available for comments.

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M.Abdul Rahman
 - 
Wednesday, 15 May 2019

Wish Jet Airways start flying again soon

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News Network
January 29,2020

Newsroom, Jan 29: Karnataka’s capital has earned the unwelcome distinction of global capital of traffic congestion. According to a report by TomTom, the Netherlands-based global provider of navigation, traffic and map products, Bengaluru beat 415 other cities across 57 countries to earn the title of world's most traffic congested city in 2019.

“Bengaluru takes the top spot this year with drivers in the southern Indian city expecting to spend an average of 71% extra travel time stuck in traffic," TomTom said in the ninth edition of its annual Traffic Index.

Three other Indian cities, namely, Mumbai, Pune and New Delhi are also ranked in the 2019 edition of TomTom’s Traffic Index of the world’s most traffic-congested cities. 

The report released on Tuesday ranks cities by the average time added to a trip. TomTom index also includes details on when congestion is heaviest and lightest, how highways compare with surface streets, and how much time drivers wasted waiting for other drivers to get out of their way.

Following closely on the heels of Bengaluru is Manila, Philippines, with the similar 71% traffic congestion. Among the top five worst traffic affected cities are Mumbai and Pune from India at the fourth and fifth place respectively, while Bogota, Colombia is on third spot.

Delhi, the national capital of India is on the 8th spot, while Moscow (Russia), Lima (Peru), Istanbul (Turkey) and Jakarta (Indonesia) are on 6th, 7th, 9th and 10th spot respectively.

Mumbai recorded a 65% traffic congestion with 9th September, 2019 being the worst day. On an average, a Mumbaikar lost 209 hours in traffic congestion. Pune has 59% traffic congestion with 2nd August, 2019 being the worst day. 193 hours are lost due to congestion. Delhi, on the other hand, has 56% traffic congestion. 23rd October, 2019 was the worst day, while 190 hours are lost in traffic congestion.

Interestingly, among all the four Indian cities, Delhi has the most number of cars. Previous studies have concluded that Delhi has the best road conditions among the Metro cities of India.

If you are wondering what exactly the percentages mean, a 53% congestion level in Bangkok, for example, means that a trip will take 53% more time than it would during Bangkok’s baseline uncongested conditions.

TomTom calculates the baseline per city by analyzing free-flow travel times of all vehicles on the entire road network – recorded 24/7, 365 days a year. The report by Dutch navigation and mapping company ranks cities by the average time added to a trip. It also includes details on when congestion is heaviest and lightest, and how much time drivers wasted waiting for other drivers to get out of their way.

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Agencies
January 26,2020

Thiruvananthapuram, Jan 26: Sister Lucy Kalappura, one of the nuns who protested against rape accused Bishop Franco Mulakkal, on Saturday claimed that she is being targeted at the convent and not being provided food.

Sister Lucy was dismissed from Franciscan Clarist congregation for supporting sisters protesting against the Bishop.

"I am being targeted at the convent and not being provided food. When I asked the reason, I was told I have been dismissed from the convent and they are not responsible for feeding me," said Sister Lucy while speaking to the reporters.

She has alleged that all this began after the release of her autobiography "Karthavinte Namathil" which means 'In the name of God'. In her book she had alleged sexual misconduct among priests and nuns.

"They prepare food and after having it they lock it in the cupboard. When I asked the reason behind this, they told me that I have been dismissed," said Sister Lucy.

"Now I am managing it all by myself with egg and tapioca that grows in the convent compound. Earlier they used to keep the leftover lunch and I used to adjust with that, but after my book was released, they started to lock the food in the cupboard," she added.

Sister Lucy also claimed that she had filed three complaints with the police on August 19, August 20 and on December 13. They had taken her statement but no action was taken.

"If the police would have taken some action against the convent authorities, they would not have behaved this way. An FIR was registered based on the three complaints but no action was taken. This gives them more power to act against me. I have drafted a letter to the Chief Minister to raise my complaint," said Sister Lucy.

Bishop Mulakkal, a senior member of the Roman Catholic clergy in India, was arrested in 2018 following allegations by a nun that he repeatedly raped and sexually assaulted her at Kuravilangad convent between 2014 and 2016, a charge that he denies.

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News Network
March 11,2020

Bengaluru, Mar 11: DK Shivakumar has been appointed as the new president of the party's Karnataka unit, an official said on Wednesday.

"Congress president (Sonia Gandhi) has appointed D.K. Shivakumar as the president of the Karnataka Pradesh Congress Committee (KPCC)," said party's general secretary K.C. Venugopal in a statement from New Delhi.

Party's state unit leaders Eshwar Khandre, Satish Jharkiholi and Saleem Ahammed are the working presidents in the southern state.

"Former chief minister Siddaramaiah will continue as the Congress Legislature Party (CLP) leader and opposition leader in the state legislative assembly.

MLC M. Narayanswamy and MLA Ajay Singh will be the party's chief whips in the state legislative council and assembly.

Congress appoints Anil Chaudhary as DPCC chief

The Congress on Wednesday appointed former MLA Anil Chaudhary as its Delhi unit chief, while also naming five vice-presidents for the DPCC.

Congress president Sonia Gandhi named Chaudhary president and Abhishek Dutt, Shivani Chopra, Jaikishan, Mudit Agarwal and Ali Hassan vice-presidents of the Delhi Pradesh Congress Committee (DPCC), a party statement said.

Subhash Chopra had resigned as the Delhi Congress chief in February, taking moral responsibility for the party's debacle in the Assembly polls.

The Congress drew a blank for the second time in a row in the Delhi Assembly polls and reduced its vote share from 9.7 per cent in 2015 to 4.27 per cent this time.

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