Briefly Business

Sat, Nov 7 06:48 AM

Jet, Kingfisher hike fuel surcharge

MUMBAI: Domestic private air-carriers, Jet Airways and Kingfisher Airlines, on Friday raised their fuel surcharges by up to Rs 200 on domestic flights. The hike comes into force with immediate effect, both said. "Effective today (Friday), the fuel surcharge levied by Kingfisher Airlines for travel on domestic sector stands revised upward," a Kingfisher statement said.

'Nothing can be done in suits against PW'

NEW DELHI: Corporate affairs minister Salman Khurshid on Friday said the government can not provide any help to Price Waterhouse in the class action suits, which the auditing firm is facing in the US in the Satyam fraud case.

China hits back at US with own probe

BEIJING: China slammed new US tariffs on Chinese steel goods Friday and launched its own probe into US car imports as a tit-for-tat trade tussle. On Friday, China said it had launched a probe into alleged dumping and unfair subsidies involving imported US "sedans and off-road vehicles with an engine size of 2.0 litres or above".

Megha Mittal to buy fashion house Escada

NEW DELHI: Megha Mittal, daughter-in-law of India-born billionaire Lakshmi Mittal, will buy insolvent Escada, an iconic European luxury fashion house, for an undisclosed amount. "Our first priority is to ensure that the great heritage of this iconic company is translated into a strong and successful future," she said. Escada, an international fashion group for women's apparel and accessories has 182 own and 225 franchise shops in more than 60 countries.

Tata Steel Oct sales up 38 per cent

NEW DELHI: Tata Steel on Friday said it witnessed 38 per cent rise in its sales to 4.62 lakh tonnes in October on the back of robust demand from the construction sector. In the corresponding period last year, the steel major's sales stood at 3.35 lakh tonnes, the company said in a statement here.

BSNL introduces per-second billing plan

NEW DELHI: State-run Bharat Sanchar Nigam Ltd (BSNL) ON fRIDAY announced the launch of per-second billing plan, joining a host of mobile phone operators who have already introduced such tariff scheme. Under the new billing plan, the users can make local and STD calls within BSNL network at the rate of one paisa per second, BSNL CMD Kuldeep Goyal said.

OilMin seeks Rs 11,853 cr oil bonds

NEW DELHI: The petroleum ministry has sought oil bonds worth Rs 11,853 crore for state-run fuel retailers to make up for the losses they incurred on selling domestic LPG and kerosene below cost during the first half of the current fiscal. Three fuel retailers IOC, BPCL and HPCL lost Rs 15,856 crore in revenues on selling petrol, diesel, domestic LPG and kerosene below cost during the first half of the current fiscal.

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