BUSINESS
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."
IPO fund raising all-time high at Rs 1.18 lakh crore
This was nearly 4.5 times Rs 26,613 crore raised through 15 IPOs in 2020 and almost double of the previous best year 2017 in which Rs 68,827 crore was raised. IPOs from new age loss-making technology startups, strong retail participation and huge listing gains were the key highlights, according to Pranav Haldea, Managing Director, Prime Database Group.
Why are Indian celebrities clamoring to release bespoke NFTs
For artists, NFTs offer the promise of price discovery that does not exist beyond the few renowned auction houses functioning today, while investors can cash in on their purchased NFTs anytime they deem fit. This flexibility along with the immutable nature of these digital assets have catapulted NFTs to the top of the list of crypto-based assets in existence today.
Air India wins dispute with passenger in English Court of Appeal
By winning its case, Air India has prevented a serious blow to the international airline industry, which is already suffering from the disruption caused by Covid-19. This is also one of the first cases where the English Courts have been asked to determine EU law post-Brexit. The dispute centered on the applicability of EU compensation regulations for a single booking, where only one leg of the booking – the only one within EU/UK jurisdiction – was delayed.
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