NEW DELHI: Prime Minister Narendra Modi has expressed concern over the frequent sharp hikes in airfares, especially during peak travel times and when someone has to buy a ticket on short notice to travel for an emergency. In a meeting with the aviation ministry top brass on Tuesday, the PM spoke extensively on the issue of predatory pricing and asked the officials present there to find a solution to this problem.

"It (predatory pricing) is a concern of a majority of Parliamentarians, including the Prime Minister, and needs to be addressed. The PM has shown his concern over the predatory pricing issue.

MUMBAI: The recent 2.5% devaluation of the Chinese currency by its government could turn out to be a blessing in disguise for emerging markets, including India as an overvalued yuan, its currency, was an impediment to growth of several smaller economies, a report by SBI said.

"With the Chinese economy undergoing structural adjustment, the devaluation of the yuan was natural," the report by Soumya Kanti Ghosh, chief economic advisor, SBI noted. "Though this has caused financial turbulence, this might prove to be a blessing in disguise for India in the context of overvalued real effective exchange rate. Some estimates show that yuan was overvalued by more than 25%."

Mumbai: GMR Infrastructure Ltd is planning to sell GMR Hotels and Resorts Ltd, which owns and manages Novotel Hyderabad Airport Hotel.

The bidding process for selling the hotel is at a very early stage of calling for so-called expression of interests (EoIs) and the company will take a suitable decision based on any interest received over and above the floor price, GMR Infrastructure said in a filing to BSE on Friday.

Executives whose spouses buy or sell their companies’ shares will not be able to offer the alibi that their husbands or wives are financially independent and aren’t privy to any inside information when they defend themselves against insider trading charges

In a guidance note issued on Monday, the Securities and Exchange Board of India (Sebi) clarified that under the Sebi (Prohibition of Insider Trading) Regulations, 2015, a spouse is presumed to be an “immediate relative” unless the company official is able to prove otherwise.

Twitter has launched music on Vine to create and discover short looping videos, for Android and iOS users. “Music has been part of Vine’s culture since the beginning,” the company wrote on its new website. Now, we’re connecting you to the music you love, starting with new ways to discover and create with music on Vine.”

Vine allows users to share six second-long looping video clips. It was acquired in 2012 by Twitter for $30 million, and now has grown to $200 million monthly active user base.

The benchmark BSE Sensex rallied over 350 points to 26,582.13 in early trade on Friday on continued buying by investors as the September series in the derivatives segment began on a strong note.

The Nifty of National of Stock Exchange regained the 8,000-mark by rising 113 points.

There is a better than even chance that the Reserve Bank of India will cut interest rates at its policy meeting on Sept 29 thanks to inflation striking a record low, according to a Reuters poll, marking a shift in expectations from earlier.

The median from survey of 21 economists showed a 60 per cent chance that the central bank would cut its policy repo rate from 7.25 per cent at the next meeting, whereas a previous poll in July had shown a move was more likely in the final three months of the year.

Infosys has appointed Krishnamurthy Shankar as the new HR head. Shankar, who has over 30 years of experience, currenty heads the HRD role for Philips (south Asia). He has also worked with Bharti Airtel and Unilever.

In an internal mail to the employees, Infosys COO Pravin Rao said, “Krishnamurthy Shankar (Krish, as he is called) is a passionate leader who has headed the human resources function at some of the most distinguished organisations we know today.”

NEW DELHI: In what will be music to the ears of long suffering highway users, the Supreme Court on Thursday ruled that the National Highways Authority of India (NHAI) and concessionaires cannot collect toll from commuters if the road is in bad shape.

Road users have had a long-standing grouse that they were fleeced by concessionaires who charged hefty toll on stretches of dilapidated national highways. They also believed that private contractors were enriching themselves while the NHAI looked the other way.

Shares of oil exploration companies such as Oil and Natural Gas Corporation (ONGC), Oil India and Cairn India are trading higher by over 5% each after oil prices jumped by more than 10% on Thursday, posting their biggest one-day rally in over six years.

Cairn India rallied 6% to Rs 148, ONGC surged 5% to Rs 243, while Oil India was up 4% at Rs 472 on the Bombay Stock Exchange (BSE) in early morning trades.

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