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Miscellaneous

Jet shares slip 10% after FIPB defers decision on Etihad deal

Jet shares slip 10% after FIPB defers decision on Etihad deal

Jet Airways' shares slipped 10 per cent in early trade on Monday after the government's Foreign Investment Promotion Board (FIPB) postponed a decision on Jet-Etihad deal.

In April, Gulf carrier Etihad Airways agreed to acquire a 24 per cent stake in Jet Airways for $370 million. While the deal will allow Etihad to enter the fast-growing Indian civil aviation market, proceeds from the deal will help the Indian carrier cut its debt and get a stronger foothold in the market.

Moily’s import lobby remark draws sharp criticism from Opposition

Moily’s import lobby remark draws sharp criticism from Opposition

The BJP-led Opposition has criticized Oil Minister M Veerappa Moily for his statement that every petroleum minister is "threatened" by powerful import lobbies.

Talking to reporters on Wednesday, Moily said import lobbies didn't want the government to revise gas pricing policy as it would hurt their profits. He even said that import lobbies often threaten the oil minister to prevent such moves.

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