AirAsia India’s head Mittu Chandilya is confirmed to soon leave the airline. The decision emerged after he previously expressed disfavour on the micro-management practiced by the airline’s parent company in Malaysia. His successor is yet to be decided, but it’s likely to be an executive from the parent airline.
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Airbus and Boeing Expert The Market in South East Asia To Grow
Aircraft manufacturers are expecting the market in South East Asia to grow. Ahead of Singapore Air Show this week, competition between low-cost carriers in the region also become the concern.
Palm Oil import bounces in India as weather trims oilseed harvest
Import of palm oil by India bounced after its first drop in a year. The growing demand coupled with harvest failure boosted the purchase of palm oil from overseas suppliers.
BP widens natural gas project in Oman
BP enters into an agreement with Oman government to widen the license area of Block 61. The company strengthens its commitment in Oman with a view to broadening its business in the country.
After Google, IKEA Has Been Accused of Tax Dodging Up To €1 billion
Green Party has accused IKEA for dodging tax up to €1 billion ($1.13 billion/ £776 million). MEP has taken the allegation into cognizance and pledged for studying the report and related findings. However, the Swedish furniture giant has rejected the tax evasion allegations and claims for no wrongdoings.
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Groupo BTG Pactual SA has been witnessed to tatter due to decrease in asset value it manages. To maintain the cash flow and remain profitable in the slower economy of Brazil, the Sao Paolo based bank has adopted some cost-cutting measures including job and bonus cuts.
U.S. sold Pakistan eight F-16 fighter jets that deeply disappoints India. It was told that Pakistan will use these jets to counter terrorism and defend their country but India doesn't believe so and thinks that it will be used against them instead.
The possible entry of a fourth mobile operator in Singapore due to the country's decision to auction radio frequency has caused much disquiet among the existing telecom operators. Among them, Singtel CEO has been most vocal about this decision, stating her concern about the market getting too focused on price leading to profit reductions and dividend cuts, leaving no scope for innovation.
Boeing has been reported to wait for approval pending with the US government regarding purchase of F/A-18 jets by the Navy and Kuwait. Delay in approving funds has become a growing concern. Further delay in rendering approval may compel in Boeing authority to decide hundreds of millions dollar fund to keep its Saint Louis plant operative.
Anthony Foxx is expected to sign a deal in Havana on Tuesday. The deal will allow resumption of commercial flights between the two countries. All the major airlines are expected to take part in the bidding of commercial flights towards different destinations of Cuba.
Facebook has introduced an app naming Free Basics in collaboration with Reliance group. Due to allegations for violating net neutrality, TRAI has instructed Reliance group to restrict access into Free Basics till completion of the investigation over its legal aspects. But industry insiders believe, Facebook may reappear with greater vicinity anytime soon.
Apple is replacing the Macbook USB charging cables, especially on a number of devices that were released before June 2005. These old charging cables are said to have design issues that make the laptop unable to charge appropriately.
The brand new 2016 Mazda CX-9 has begun production in its manufacturer in Japan. With the exquisite standard, customers will see significant improvements in the new unit. The company is aiming at selling most of the products in North America.
Brian T. Moynihan, the CEO of BOA has been awarded with a pay package of $16 million, a 23% rise from the previous year. However, the package will reach at maximum if BOA can touch 0.80% earning against assets during the next three years. JP Morgan Chase & Co. CEO James Dimon has ranked top in receiving pay packages for the 2015.
