New Delhi: Air India will not be sold during the remaining tenure of the Modi government and the process could be started afresh only after 2019 general elections, a top government source told Financial Chronicle.

The source, who is directly involved in the strategic disinvestment process of the loss-making carrier, said there is a broad thinking in the government to retain the ‘swadeshi’ tag for the national carrier and hence investment proposals from a foreign carrier would neither be pursued nor entertained.

The Congress on Thursday came out all guns blazing against the Modi Government and said that it is trying to politically exploit the surgical strikes by the Army against terror launch pads in Pakistan-occupied Kashmir (PoK) in 2016.

The party reacted after some TV channels telecast a video of the surgical strikes on Wednesday night. The Congress alleged that the surgical strikes were “shamelessly politicised” by the BJP for the March 2017 Uttar Pradesh Assembly elections.

NEW DELHI: Hyundai, the country’s second-biggest carmaker, has come out strongly against the removal of consumer benefits from electric cars and said the move will result in slowing down the pace of electrification.

Y K Koo, MD of Hyundai India, said that new technologies, especially the clean-fuel drivetrains, require government support as well as consumer subsidies to gain traction.

Mumbai: The findings of an investigation into Fortis Healthcare Ltd have exposed former promoters Malvinder Singh and Shivinder Singh to further legal trouble with Sebi initiating a forensic audit and the Serious Fraud Investigation Office (SFIO) suspecting fraud, two people with direct knowledge of the matter said.

Congresswoman Pramila Jayapal, the first Indian-American woman to be elected to the US House of Representatives, has been arrested here during a protest against the Trump administration’s “inhumane” “zero-tolerance” border policy.

The administration’s controversial “zero tolerance” policy of separating immigrant parents and their children on the US border resulted in the separation of nearly 2,000 children from their parents and guardians, sparking a public outcry.

Reversing a two-session slide, the benchmark BSE Sensex rose over 200 points and the Nifty reclaimed the 10,600-mark in early trade on Friday on fresh buying by investors as the July derivatives contracts started on a strong note amid recovery in the rupee.

The 30-share Sensex bounced back by 200.13 points, or 0.57 per cent, at 35,237.77.

Amid reports that insurance behemoth LIC is likely to pick up a majority stake in the state-run IDBI Bank, the board of insurance regulator IRDAI will meet on Friday. The meeting may see discussion on issues such as hike in investment limit for a particular insurance firm beyond 15 percent in the interest of policyholders, PTI reported. An insurance firm can’t hold over 15 percent stake in the listed financial companies currently, according to existent norms.

Telecom Commission, the highest decision-making body in the Department of Telecommunications (DoT), is expected to meet on Friday and take up the National Digital Communications Policy (NDCP), which charts the road map for development of the telecom and digital space.

Sources said the meeting of the Telecom Commission will review the NDCP among other issues including some additions to the public Wi-Fi project by the DoT.

HYDERABAD: GMR Infrastructure has announced securing the contract to build a greenfield commercial port near Kakinada through the Swiss Challenge mode. In a statement, the infrastructure firm said that the all-weather, deep-draft and multi-cargo port will come up at some 30 km north of Kakinada, located as one of the nodes of the proposed Visakhapatnam-Chennai Industrial Corridor.

BENGALURU: Tata Consultancy Services grew its revenue in the double-digit range in France to $200 million in FY18, the first time those figures have been disclosed, and expects growth to rev up as the European economy improves.

Indian IT companies have been focusing on Europe to reduce their US dependence, where protectionist economic policies and slower spending by large banks is putting a crimp on growth.

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