BUSINESS
Mehul Choksi's name removed from Interpol's 'red' notice list
Choksi was added to red notice list in December 2018. As per sources, authorities concerned of the Indian government objected to the move of Interpol but it didn't budge on the decision. This is a setback to the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) which were waiting for his deportation.
Power sector dues to coal companies over Rs 20,000 crore
According to official sources, outstanding dues payable by power sector for dry fuel sales towards Coal India Ltd (CIL) and the Singareni Collieries Company Ltd (SCCL), amounts to Rs 16,629.41 crore and Rs 3,713 crore, respectively, as on February 28, 2023.
UN diplomat complains of broken seats, cockroaches on US-Delhi Air India flight
"As a UN diplomat, I've flown worldwide but Air India 102 JFK to Delhi was my worst flight experience: Broken seats, no entertainment/call buttons/reading lights, and cockroaches. Poison spray. Disregard for customer care," the diplomat had Tweeted about a week ago.
At 55.9%, IndiGo led market share in Feb; airlines received 359 complaints
In February 2023, a total of 359 passenger-related complaints were received by the scheduled domestic airlines. The number of complaints per 10,000 passengers carried for the month of February has been around 0.3 per cent. As per the latest data issued for February by aviation regulator DGCA, IndiGo carried 67.42 lakh passengers during the month, followed by Air India (10.76 lakh) and Vistara (10.53 lakh).
US stocks rise as markets digest UBS takeover of Credit Suisse
Shares of New York Community Bancorp, which said on Monday it would buy $38.4 billion worth of assets and virtually all deposits from failed Signature Bank, climbed over 33 per cent, after seeing its biggest jump on record earlier in the day, CNN reported. Gold continued its rise on Monday as investors sought safer assets, having earlier hit its highest level in almost a year. Bitcoin jumped to a nine-month high.
Some staff still in possession of accommodation at Air India colonies: Ministry
The mechanism envisages imposition of penal rent and damage charges on the unauthorised occupants. Some employees of the erstwhile AIL are still in possession of the accommodations at the AI colonies. In view of this, Air India has implemented the mechanism on the unauthorised occupants of the AI colonies, the Ministry of Civil Aviation said in a written reply to Rajya Sabha on Monday.
$400 bn is the cost to rescue teetering global banks
In guaranteeing all deposits at Silicon Valley Bank and Signature Bank, the US Federal Reserve is on the hook for $140 billion. Then there's the $54 billion the Swiss National Bank offered Credit Suisse in the form of an emergency loan, and 209 billion Swiss francs ($225 billion) offered to UBS in loans, guaranteed by the Swiss state, and protection against potential losses, CNN reported.
US Fed raised concerns about SVB at least four years before collapse
In January 2019, the Fed issued a warning known as a 'Matter Requiring Attention', a citation a step-down from an enforcement action, about SVB's risk-management systems, The Wall Street Journal reported, citing documents from a presentation circulated last year to employees of SVB's venture-capital arm.
Gold is bankable, shines more than some western banks
"Gold prices have risen almost 7-8 per cent in the past month. The rally in the yellow metal is primarily due to the banking crisis in the west. The liquidity infused by the central banks and the expectations of lower to no rate hikes is pushing gold prices up. Gold is a safe haven, historically it has gained in periods of uncertainty," Colin Shah, MD, Kama Jewelry, said.
Fear of financial crisis keeps investors away from stock markets
A number of American banks had failed recently or came under pressure. "Nifty (at NSE) snapped a two day rise on March 20 and closed in the negative, though after witnessing a sharp rebound from the afternoon lows. At close, Nifty was down 0.65 per cent or 111.7 points at 16,988.4," said Deepak Jasani, Head of Retail Research, HDFC Securities.
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