Air India chairman Ashwani Lohani is likely to meet State Bank chairman Rajnish Kumar Friday over the national carrier’s plans to lease five wide-body Boeing planes from the now grounded Jet Airways.

Weighed down by a mountain of debt and falling revenue, Jet Airways announced suspension of its entire operations from Wednesday night and owns 16 wide-body planes, 10 B777-300ERs and six Airbus A330s.

Mumbai: Life insurance companies grew by 10.73 per cent year-on-year in first year premium to Rs 2.14 lakh crore in 2018-19. The growth was largely driven by private life insurers that grew by 22.2 percent to Rs 72,481 crore while public sector behemoth Life Insurance Corporation of India (LIC) grew by 6 per cent to Rs 1.42 lakh crore.

After selling its East-West gas pipeline to an infrastructure investment trust (InvIT) sponsored by Brookfield, Reliance Industries Ltd has used this instrument to shed the liabilities of telecom arm Reliance Jio by around Rs 1,07,000 crore.

InvITs are like mutual funds that pool in money from various entities to invest in infrastructure assets.

New Delhi/Mumbai: Budget airline SpiceJet Ltd and national carrier Air India Ltd have stepped in to stabilize India's aviation industry and ease the pain from wage losses caused by Jet Airways (India) Ltd’s descent into insolvency and operational shutdown.

SpiceJet is making all possible efforts to soften the blow to the aviation industry caused by Jet’s suspension of operations on Wednesday, said the airline’s chairman and managing director, Ajay Singh.

New York: Amazon and Walmart on Thursday kicked off a two-year government pilot program allowing low-income shoppers on government food assistance in New York to shop and pay for their groceries online for the first time.

ShopRite will join the two retailers on the program early next week, said the US Department of Agriculture, which oversees the Supplemental Nutrition Assistance Program, or SNAP.

Decks are cleared for the entry of laptops from the Kerala government PSU, Keltron, and global software major UST Global, with the technical hand holding of Intel. The product is likely to hit the market by June.

“Coconics, the Keltron-UST Global laptop brand, is nearly ready for launch,” sources at Keltron told FE. The official launch is likely to be after the Lok Sabha elections.

Intelligence agencies have alerted the security establishments in Jammu and Kahsmir on Friday, saying that the Pakistan-based terrorists have planned a fidayeen-like attack with ‘motorcycle bombers’ in the valley during the ongoing Lok Sabha polls.

These motorcycle fidayeen attackers are named after Mughal emperors as well, say intelligence agencies. The valley on February 14 faced a massive terror attack in Pulwama, where 40 CRPF personnel were killed.

Bharti Airtel and Vodafone Idea witnessed a rise in fixed-line subscribers at a time when the overall wireline users in the country continued to decline in February, according to data published by the Telecom Regulatory Authority of India (Trai).

“Wireline subscribers further declined from 21.79 million at the end of January to 21.72 million at the end of February,” the report said. Net decline in the wireline subscriber base was 0.07 million with a monthly decline rate of 0.36 per cent.

R Venkataramanan, the former managing trustee of Tata Trusts, has resigned from RNT Associates Private Limited, the personal investment vehicle of Tata group patriarch Ratan Tata.

According to a Ministry of Corporate Affairs filing, Venkataramanan quit the firm as director on March 29. Since 2014, RNT Associates, along with UC-RNT Fund, has been investing in a series of new-age companies in India and overseas.

Shares of Global Vectra Helicorp surged 9 per cent to Rs 127 in the intra-day trade on Thursday, gaining 53 per cent in the last one week on the BSE, on expectation of strong earnings growth. The stock was trading close to its 52-week high of Rs 131 on April 23, 2018 on the BSE.

In past three weeks, the stock has rallied 112 per cent from level of Rs 60.30 on March 8, 2019, as compared to 7 per cent rise in the S&P BSE Sensex.

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