NEW DELHI: India’s largest private oil company, Reliance Industries Ltd, and state-run oil refiner-retailers are locked in a dogfight over selling jet fuel to carriers as India is poised to become the world’s third-largest aviation market by 2020.

Mumbai airport has become their latest battleground, with Reliance complaining to authorities and regulators that Bharat Petroleum and Hindustan Petroleum were creating entry barriers by not allowing other jet fuel sellers access to their pipelines feeding the airport.

NEW DELHI: Skills development firm NIIT on Tuesday announced its Talent Pipeline as a Service (TPaaS) offering, under which it will train one lakh people over the next three years in IT and banking and financial services sectors.

TPaaS is being launched to ensure reliable availability of specifically skilled talent to global organisations to match the pace of expansion in today's fast changing, uncertain business environment, NIIT Ltd CEO Sapnesh Lalla told PTI.

Kaliningrad, Russia: Spain snatched a 2-2 draw against Morocco on Monday to qualify for the World Cup last 16 and take the top spot in Group B ahead of Portugal.

Spain will play Russia in the last 16. Portugal finished second in the group with five points behind Spain on goals scored, and will meet Uruguay in the last 16.

The BSE Sensex fell over 132 points in opening trade as investors pared their bets, tracking sharp losses in global markets on worries about an intensifying trade conflict between the US and its trade partners.

Cutting down of positions by participants in view of approaching June derivatives contract expiry on Thursday added to the downward pressure, brokers said.

An anonymous whistleblower has raised concerns against Infosys for the delay in filing of Form 20F with the US Securities and Exchanges Commission. Form 20F contains the detailed financials statements and other key risks to the company.

The whistleblower has addressed his concerns to both Indian and US regulators. His letter, reviewed by FE, said, “Infosys has not yet filed its Form 20F, which is the annual filing as required under the SEC rules.

The government is nowhere close to coming up with a solution for distressed state-owned banks. It could consider merging some of them to cut costs, but, a year ahead of the elections, it would be hard to convince the trade unions as this would need to be accompanied by big layoffs. Moreover, without a big dose of capital, a merger would not really serve the purpose, and the government is very short on resources.

Punjab National Bank (PNB) has put up for sale its 3.33% stake in ratings agency Icra, according to a sale document. The bank has appointed PNB Investment Services the merchant banker for the sale. The last date for submission of bids is June 27.

Shares of Tata Motors closed in the red on Monday wiping out more than Rs 5,000 crore from its market valuation, partly because brokerages raised concerns over the firm’s free cash flows due to the higher-than-expected capex and lower volumes. Moreover, US President Donald Trump’s tweet on June 22 escalated the worries of investors. Trump threatened to impose a 20% tariff on all US imports of cars assembled in Europe unless it removed import duties and other barriers to US goods.

Over 1,500 ‘benami’ properties worth Rs 43 billion have been attached in the past 18 months by the Income Tax Department.

The properties have been attached in wake of the ‘benami legislation’ that was passed during the same time. According to a Business Standard report, Jaipur and Mumbai top the list, with attachments of 200 properties each.

US trade protectionism is the new normal and will continue to be so in the near future with Trump threatening the world with trade sanctions.

While China has been the biggest victim, even countries like Japan, Mexico, Canada and EU have fallen prey to the trade war. All the major trading partners of US have reacted by threatening to retaliate by imposing counter tariffs on US.

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