601

Budget Airline GoAir to Start International Operations To Phuket From October 11

New Delhi: Chief executive officer of GoAir Cornelis Vrieswijik said that GoAir will start international operations from October 11. This is yet another airline’s international foray. The inaugural flights will operate to Phuket from New Delhi and Mumbai. The airline will also launch flights to Male in Maldives from Mumbai and Delhi on October 14.

The bookings for the maiden international flight will commence soon, a source had earlier said. The city-based airline will be the sixth domestic carrier to have international operations.

515

Berkshire Hathaway Buys Stake In Paytm In Conglomerate’s First Foray Into Country’s Startups

New Delhi:  Berkshire Hathaway Inc. bought a stake in the company behind Paytm, India’s biggest digital-payments brand, in the conglomerate’s first foray into the country’s startups.

Warren Buffett, Berkshire’s chairman and chief executive officer, wasn’t directly involved in the investment in One97 Communications Ltd., his assistant, Debbie Bosanek, said Monday in an email. Berkshire is set to acquire 3 percent to 4 percent of One97 in a deal that values the target at more than $10 billion, the people said, asking not to be identified because the discussions are private. Bosanek declined to comment on the size of the investment.

493

India Draws A List Of Goods That It Can Export To China Replacing Costlier US Exports

New Delhi: The government has drawn a list of goods that it can export to China. It wants to replace US exports that have become costlier in light of the trade spat between the world’s two biggest economies.

The South Asian nation has identified more than 40 products, including fresh grapes, cotton linters, flue-cured tobacco and alloy steel seamless boiler, where it’s in a position of advantage to replace or capture US trade market share with China, the person said asking not to be identified as discussions are internal. Boosting exports will help India reduce a $63 billion trade deficit it runs with China, which is also New Delhi’s largest commercial partner.

481

Jet Airways Reports A Whopping Rs 1,323 Crore Net Loss For Three Month To June

New Delhi: Naresh Goyal-owned Jet Airways reported a whopping Rs 1,323 crore of net loss for the three months to June owing to higher fuel cost and some other expenses due to the falling rupee.

The ongoing cash crunch has forced the airline to embark on a Rs 2,000-crore cost cutting drive and stake sale in its loyalty programme Jet Previlage as part of capital infusion.

The airline, which publicly admitted to cash flow issues, had posted a net profit of Rs 53.50 crore in the year-ago period.

443

Principal Scientific Adviser To Government Says ISRO To Complete Its Manned Mission On Schedule

New Delhi: K Vijay Raghavan, principal scientific advisor to the government of India, has said that the Indian Space Research Organisation will complete its first manned space mission on schedule as the programme was finalised a few years ago,

“This mission is not happening out of the blue, nor is it a coincidence. We were giving shape to this mission for a while,” Raghavan told PTI-Bhasha in an interview. One of the most distinguished biologists, Raghavan, 64, was appointed the principal scientific advisor in March.