Tag: International Flights

Sri Lanka’s oldest airport sees first international flight in 54 years

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Sri Lanka’s oldest and first international airport was relaunched on Sunday with its first international flight landing in 54 years, aviation officials said. A flight from the Maldives landed at the Ratmalana International Airport here.

The 50-seater Maldivian flight would operate three flights a week to Colombo which would be later expanded to five per weeks, the aviation officials said. The Ratmalana airport was turned into a domestic airport after the Bandaranaike International Airport at Katunayake was commissioned in the late 60s.

The Bandaranaike airport is the main international airport for flights to and from the Sri Lankan capital. Established in 1938, the Ratmalana airport is Sri Lanka’s oldest airport and at one point was the only international airport in the country.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

After two years of ban, India opens up over 3,000 international flights per week

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The two-year-long ban on commercial international flights from March 23, 2020, has finally been scrapped from today. The Indian aviation regulator has approved foreign and Indian airlines to operate 3,249 weekly international departures during the summer schedule—from March 27 till October 29.

The Directorate General of Civil Aviation (DGCA) has approved Indian airlines to operate 1,466 weekly departures to 43 destinations in 27 countries.

IndiGo, the largest domestic airline which has big plans for international expansion, has been approved to operate 505 international departures per week, followed by Air India at 361 weekly departures, Air India Express at 340 weekly departures, SpiceJet at 130, GoFIRST at 74, and Vistara at 56 weekly flight departures.

After taking over Air India from the Indian government, the Tata Group plans to focus on expanding international routes, especially to the US, the group recently told CNBC-TV18.

Indian airlines are approved to operate to the United Arab Emirates (UAE), Kuwait, Singapore, Thailand, Sri Lanka, Qatar, Maldives, Oman, Saudi Arabia, Nepal, Bangladesh, Turkey, Malaysia, the UK, France, Kenya, Germany, the US, Canada, Myanmar, Australia, Israel, Bahrain, South Korea, Japan, Hong Kong, and Russia.

In addition, 60 foreign airlines from 40 countries have also been approved by the DGCA to operate 1,783 departures per week to/from India in the summer schedule. Salam Air, Air Arabia Abu Dhabi, Qantas and American Airlines are among the 60 foreign carriers on the list.

Foreign airlines are approved to operate to/from Mauritius, Malaysia, Thailand, Turkey, the US, Iraq, Kenya, Bangladesh, Germany, Singapore, Yemen, Sri Lanka, Bahrain, Maldives, Nepal, Iran, Uzbekistan, Saudi Arabia, Switzerland, Kuwait, Tanzania, Netherlands, France, Japan, Rwanda, Russia, UAE Australia, Qatar, Ethiopia, Oman, Seychelles, Kazakhstan, UK, Myanmar, Canada, Finland, Poland, Bhutan, and Egypt.

Emirates has been approved to operate the maximum number of departures among all foreign carriers at 170 weekly departures, followed by Sri Lanka Airlines at 128, Oman Air at 115, Air Arabia at 110, and Qatar Airways at 99 weekly departures. US’ United Airlines is approved to operate 28 weekly departures, while American Airlines is approved to operate seven.

Despite the ban, few people were travelling internationally through the Indian government’s air bubble arrangements with various countries. Now, with the bans lifted the airline industry will be able to recover some losses due to the negligible operations in the past two years.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Domestic aviation close to reaching ‘pre-COVID’ level, says Jyotiraditya Scindia

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The airline industry that suffered heavy losses during the COVID-19 pandemic is returning to pre-COVID levels, and has recorded traffic of 3.8 lakh passengers per day, Civil Aviation Minister Jyotiraditya Scindia informed the Rajya Sabha on Monday. Replying to supplementaries during Question Hour, the minister said the civil aviation sector is on its way back to recovery and is roughly about 5-6 percent off from pre-COVID levels.

“I am pleased to report to the House that pre-COVID our maximum number of passengers in India per day was about 4 lakh and we reached a level of 3.83 lakh per day in the month of December,” Scindia said. “We are looking at resuscitation and with that, we are hopeful that we will see a rebound in terms of employment levels,” he said.

For the domestic sector, the minister said, the government has instituted airfare caps to ensure there is no predatory pricing. He said controlling prices for the international sector was beyond their power. I am very confident that with the opening up of the international sector as announced from March 27, when the summer schedule of all airlines comes in, there will be enough supply of seats, both coming into India and going out of India. Therefore, I think the pricing issue is something that the market will certainly take into account,” Scindia said.

The minister informed the House that high fuel rates too have contributed to heavy losses suffered by the airlines. He said fuel contributes to about 37 percent of the cost of running an airline, which suffered a loss of about Rs 19,000 crore last year because of COVID. The fuel price has gone up close to 4.5 times, with 11 states charging VAT on aviation turbine fuel (ATF) ranging from 10 percent to 30 percent, he said. “We pleaded with states to reduce tax on ATF. Before I took charge, we had 11 states that charged 1-5 percent VAT on ATF and we had 25 states that charged between 15 and 30 percent. We have now reversed that equation and 12 states have reduced VAT from 25-30 percent to 1-4 percent. There are 23 states now that charge VAT ranging 1-4 percent, and only 11 states that charge it at 15-30 percent,” the minister said. On job losses, Scindia said the sector was affected very deeply world over but bounced back with an equal amount of growth as soon as COVID waves subsided.

The minister said he sees civil aviation becoming the backbone of transportation across the country and achieving high levels of growth. The CAGR for the aviation sector is close to about 10.6 percent per year, he said, adding that the government has allowed the domestic sector to operate at its full capacity. “We had brought back the sector to 100 percent capacity on October 15 after the second wave,” said the minister.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

News wrap March 8: RBI launches UPI123Pay; gold prices surpass Rs 54,000; India to resume international flights from March 27

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Reserve Bank of India (RBI) launched UPI123Pay which will digitally empower millions across the country and the UPI 24*7 helpline will build trust in the UPI digital payment ecosystem. Meanwhile, gold prices hit a new high on the Indian commodities exchange, MCX, surpassing the Rs 54,000 level. Also, keeping in view the decline in the COVID-19 caseload, India will resume scheduled international flights from March 27, 2022.

BUSINESS/ECONOMY

RBI Guv launches UPI for feature phones UPI123Pay, 24*7 helpline for digital payments DigiSaathi

The Reserve Bank of India (RBI) launched a Unified Payments Interface (UPI) UPI123Pay for feature phones which will help achieve financial inclusion initiative. RBI Governor Shaktikanta Das also launched a 24X7 helpline for digital payments platform DigiSaathi. Read more

Rural demand unlikely to worsen further; will take calibrated price hikes: Godrej Consumer

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Economists expect RBI rate hike in Oct; petrol demand moderation unlikely

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MARKET

Gold trades above Rs 54,000, silver prices rise over 2% as Russia-Ukraine war continues

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HDFC twins, HDFC Life off 52-week lows; should investors buy group stocks now?

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Nifty50 reclaims 16,000, halts 4-day losing streak helped by financial, IT shares

Indian equity benchmarks made a comeback on Tuesday, halting a losing streak that lasted four back-to-back trading sessions, helped by strength in financial and IT stocks. However, weakness in metal and select oil & gas stocks played spoilsport. Read more

INDIA

Regular international flight operation to resume from March 27: Ministry of civil aviation

India will resume scheduled international flights from March 27, 2022, after the coronavirus-induced suspension, the union aviation ministry informed on Tuesday. Read more

CNG prices hiked in Delhi-NCR; Petrol, diesel price increase on wait-and-watch mode

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New Chennai mayor is a 28-year-old woman, but fight for gender representation is far from over

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WORLD

Russia warns on oil import ban as little progress is made at Ukraine talks

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Refugees from Ukraine hit 2 million; people flee embattled cities

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Second Russian general killed in war, says Ukraine

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YOU & I

Home loans: 5 banks that are offering the lowest interest rates

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Does your life insurance cover death due to war? All you need to know

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Your new vehicle may cost you more soon; here’s why

The Centre has proposed a hike in motor third-party insurance premiums. For new cars, a hike of 1 to 23 percent has been proposed; 15 to 177 percent for new two-wheelers; 1 to 27 percent for new electric cars and 16 to 177 percent for two-wheeler EVs. Read more

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

US follows Canada, Europe on Russian aircraft ban

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The United States will follow the European Union and Canada in banning Russian flights from its airspace, President Joe Biden said on Tuesday evening, in a move likely to trigger Russian retaliation.

United Airlines and United Parcel Service (UPS) (UPS.N) said on Tuesday they had suspended flying over Russian airspace, joining other major U.S. carriers Delta Air Lines (DAL.N) and American Airlines.

“I am announcing that we will join our allies in closing off American airspace to all Russian flights, further isolating Russia and adding an additional squeeze on their economy,” Biden said in his State of the Union address.

The White House had held extensive talks with U.S. airlines about the issue in recent days.

The ban will take effect by the end of Wednesday.

Russian flights were already effectively barred from U.S. destinations for the most part in recent days because of bans on the use of Canadian and European airspace.

Also Read: Wall Street closing: How S&P 500, Dow Jones, Nasdaq, Russell 2000 fared on Tuesday

Some foreign governments had privately questioned why the United States did not move faster to ban Russian planes, as had some U.S. lawmakers.

The European Union had said on Tuesday that it was speaking to U.S. counterparts about extending the ban as it gave more details of the EU’s closure of airspace to Russian aircraft imposed after Moscow’s invasion of Ukraine.

Airlines already face potentially lengthy blockages of key east-west flight corridors after the EU and Moscow issued tit-for-tat airspace bans.

Also Read: Oil prices shot back above $100 barrel on Russia-Ukraine conflict

A senior EU official said Russian oligarchs, even those with dual nationalities, would not be able to get around the EU airspace ban.

“Russian nationals or a Russian company cannot charter, own or control a plane that will be flying into the EU, out of the EU or overflying the EU. So that’s the rule.”

SUPPLY-CHAIN PAIN

Global supply chains, already hit hard by the pandemic, will face increasing disruption and cost pressure from the closure of the skies which will affect over a fifth of air freight.

Hardest hit are likely to be Russian carriers, which make up approximately 70% of the flights between Russia and the EU.

Transport between Europe and North Asian destinations like Japan, South Korea and China is in the front line of disruption after reciprocal bans barred European carriers from flying over Siberia and prevented Russian airlines from flying to Europe.

Airlines responsible for moving around 20% of the world’s air cargo are affected by those bans, Frederic Horst, managing director of Cargo Facts Consulting, told Reuters on Tuesday.

Germany’s Lufthansa (LHAG.DE), Air France KLM (AIRF.PA), Finnair and Virgin Atlantic have already cancelled North Asian cargo flights over closed access to airspace.

Scandinavian airline SAS (SAS.ST) said it would re-route its once-weekly Copenhagen-Shanghai service to avoid Russian airspace, and had also paused its Copenhagen-Tokyo service.

Major Asian carriers like Korean Air Lines (003490.KS) and Japan’s ANA Holdings (9202.T) are still using Russian airspace, however, as are Middle Eastern airlines.

RUSSIAN CARRIERS

Russian airlines are also feeling the pinch with airline Pobeda, state airline Aeroflot’s (AFLT.MM) low-cost carrier, facing requests from a number of leasing companies to return their planes, the Interfax news agency reported. read more

Pure cargo carriers like Russia’s AirBridgeCargo Airlines and Luxembourg’s Cargolux are subject to the bans in a move that could send air freight rates – already elevated due to a lack of passenger capacity during the pandemic – soaring further.

“The flights become more expensive due to the longer routes,” said Stefan Maichl, analyst at Germany’s Landesbank Baden-Wuerttemberg.”

In December, air cargo rates were 150% above 2019 levels, according to the International Air Transport Association.

Sanctions imposed on Russia in the wake of its Ukraine invasion are expected to further disrupt global supply chains.

Russia’s AirBridgeCargo alone moves just under 4% of global international air cargo, with most of that between Europe and Asia, Horst said.

“All up you could be looking at perhaps a quarter of air cargo between Asia and Europe needing to find alternate means of transportation,” Horst said.

“Yields are high enough that flying a longer route via Southeast Asia, South Asia or the Middle East is an option, but it will still pull capacity out of the market.”

AIR CARGO SURGE

Shipping container shortages and port bottlenecks mean more products are being flown by air. Demand for air cargo last year was 6.9% above 2019 levels, according to IATA.

Taiwan’s EVA Airways (2618.TW) said on Tuesday its cargo flights to and from Europe were operating normally and it would consider adding more services to meet market demand.

Asia-North America cargo routes are expected to be less affected than European routes, analysts say, because many carriers already use Anchorage, Alaska, as a cargo hub and stopover point.

UPS and FedEx Corp had earlier stopped deliveries to Russia. Deutsche Post said its DHL unit was halting inbound shipments to Russia.

Get Here Russia-Ukraine war LIVE Updates

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

News wrap Feb 28: India’s Q3 GDP comes at 5.4%; Madhabi Puri Buch becomes first woman to head Sebi; DGCA extends suspension of scheduled international passenger flights

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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India’s economy expanded by 5.4 percent during the October to December period, according to gross domestic product data released on Monday. Madhabi Puri Buch, a former whole-time member of the Securities and Exchange Board of India is appointed for a period of three years and will take over from Ajay Tyagi assuming charge on March 1. Aviation regulator DGCA extended the suspension of scheduled international passenger flights in the country has been extended “till further orders

BUSINESS/ECONOMY

India’s GDP growth comes at 5.4% in Q3

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Russian Central Bank raises rate to 20% to help ruble

Russia’s central bank hiked the benchmark rate to 20 percent from 8.5 percent in a desperate attempt to shore up the plummeting ruble and prevent the run of banks amid crippling Western sanctions over the Russian war in Ukraine. Read more

Google Play Pass to offer over 1,000 apps without ads for Rs 99 a month

Google on Monday announced the launch of Play Pass section in Play store to offer over 1,000 apps and games without advertisement and provide access to their premium features on a fixed monthly or annual charge. Check details

MARKET

A look at Madhabi Puri Buch, the first woman to head market regulator Sebi

Madhabi Puri Buch, a former whole-time member of the Securities and Exchange Board of India (Sebi), became the first woman to head the market regulator as chairperson and the first person from the private sector to head one of the most important institutions in the financial market. Dig deeper

Market guru Mark Mobius roped in by Investcorp for India advisory board

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BlueStone Jewellery to raise over Rs 1500 crore via IPO

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INDIA

DGCA extends suspension of scheduled international passenger flights till further orders

The suspension of scheduled international passenger flights in the country has been extended “till further orders”, aviation regulator DGCA said on Monday. On January 19, the suspension was extended till February 28. Read more

RT-PCR test report, COVID vaccination certificate not required for Indians arriving from Ukraine

The Health Ministry said on Monday the International Travel Guidelines have been revised and some exemptions allowed on humanitarian grounds for those arriving from Ukraine. Read more

India abstains from UNSC procedural vote to call for General Assembly session on Ukraine

WORLD

Ukraine receives crypto donations amid ongoing war with Russia

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A look at the impact of US, EU sanctions on Russian banks

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British PM Boris Johnson offers UK visas to Ukrainian relatives

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YOU & I

LIC IPO: Last day to link PAN, Aadhaar with your policy today; here’s how to do it

Today is the last day to link your PAN card and Aadhaar with your Life Insurance Corporation (LIC) policy to become eligible for subscribing to LIC IPO. LIC is all set to kick off its big-ticket initial public offering (IPO) in March. Check details

PM Kisan Samman Nidhi: How to add beneficiary and check status

The Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) is a central government initiative that provides farmers with income assistance to meet their financial demands for home and agriculture. Here’s how a farmer can be added as a beneficiary of PM Kisan scheme and how they can check their status. Check details

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Suspension of scheduled international passenger flights extended till further orders: DGCA

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The suspension of scheduled international passenger flights in the country has been extended “till further orders”, aviation regulator DGCA said on Monday. On January 19, the suspension was extended till February 28.

Scheduled international passenger flights have been suspended in India since March 23, 2020, following the outbreak of the coronavirus. However, special passenger flights have been operating between India and around 45 countries since July 2020 under air bubble arrangements formed with them.

In a circular on Monday, the Directorate General of Civil Aviation (DGCA) stated: “The competent authority has decided to extend the suspension of scheduled international commercial passenger services to/from India till further orders.” This restriction will not apply to international all-cargo operations and flight specifically approved by the DGCA, it mentioned. Fights under air bubble arrangement will not be affected, the circular said.

The DGCA had on November 26, 2021, announced that India will resume scheduled international passenger flights from December 15, 2021. Just a day later, Prime Minister Narendra Modi asked the Civil Aviation Ministry and the DGCA to review its decision in wake of rising concerns over the COVID-19 variant Omicron.

On December 1, 2021, the DGCA revoked its November 26 decision without saying how long the suspension of scheduled international flights continue.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

News wrap Feb 24: Russia conducts ‘military operation’ in Ukraine; Oil breaches $100 for first time since 2014; Bitcoin plunges below $35,000

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Russia President Vladimir Putin on Thursday announced a ‘military operation’ in the Donbass region of Ukraine and also warned that any foreign attempt to interfere with Russian action would lead to ‘consequences they have never seen.’ Oil prices breached $100 a barrel for the first time since 2014 as Russian troops moving into Ukraine sparked concerns that a war in Europe could disrupt global energy supplies. Bitcoin prices too plunged nearly 9 percent to around one-month lows at under $35,000.

BUSINESS/ECONOMY

Oil prices breach $100 mark for first time since 2014

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US Fed will have to balance out overtightening risk: Raghuram Rajan

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India settles retrospective tax dispute with Cairn; pays Rs 7,900 crore refund

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MARKET

Sensex crash: Keep cash in hand should market correct 5-10%, says Envision Capital’s Nilesh Shah

Speaking to CNBC-TV18, Nilesh Shah of Envision Capital, said that it would be good to keep some cash in hand in case the market corrects further due to the Russia-Ukraine crisis. Read more

Bitcoin plunges below $35,000 amid rising geopolitical tension

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No change in LIC IPO plan, don’t see Russia-Ukraine crisis impact yet: Sources

Government sources tell CNBC-TV18 there is no change in plans for LIC for now because of geopolitical tensions. They said they don’t see an impact of the Russia-Ukraine conflict on the LIC IPO plan for now but are closely monitoring geopolitical developments as well as the market situation. Check details

INDIA

Opposition slams govt for failure in evacuating Indians stranded in Ukraine

As Russia launched an offensive against Ukraine, Opposition leaders, mostly from the Congress, on Thursday attacked the government for not making arrangements in time to bring 20,000 Indians in Ukraine back and accused it of “turning away its face” on its nationals in this difficult time. Read more

Indian embassy in Ukraine issues fresh advisory; advises students, citizens to stay safe and calm

The Indian Embassy in Ukraine issued three advisories as Russian troops marched into Ukraine and movement of people is now difficult in Ukraine as it is under martial law. Check details

Government likely to give nod to restart regular international flights from March 15

After remaining suspended for almost two years, India may resume regular international flights around March 15-20, which were shut after the pandemic broke out, sources privy to the developments told CNBC-TV18. Find out more

WORLD

Russia conducts ‘military operation’ in Ukraine, explosions heard in Kyiv, Mariupol, other cities

Russia President Vladimir Putin on Thursday announced a ‘military operation’ in the Donbass region of Ukraine, a media report said. Putin has also warned that any foreign attempt to interfere with Russian action would lead to ‘consequences they have never seen.’ Read more

NATO puts warplanes on alert, to increase troop presence on eastern flank as Russia invades Ukraine

The North-Atlantic Treaty Organisation (NATO) said on Thursday it would take new deterrence and defence steps after Russia launched an invasion of Ukraine, which would include putting over 100 warplanes on high alert and further increase the presence of troops on its eastern flank. Check details

UEFA emergency meeting tomorrow on moving Champions League final out of Russia

European football regulator UEFA has called an emergency meeting of its top decision-making body to discuss moving the Champion League final out of Russia after Moscow attacked Ukraine on Thursday. Read more

YOU & I 

Market crash: Dos and don’ts for first-time investors sitting on losses

While Sensex and Nifty are down less than 15 percent from their peaks, the majority of the stocks have fallen much more. If you are a recent entrant in the stock market, and wondering what to do next, here are a few things to keep in mind. Check details

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow