Bizbits

AI posts Rs 199 cr lossNEW DELHI: Air India AI has posted a Rs 199 crore net loss during the period April-December 1998 against a budge...

AI posts Rs 199 cr loss

NEW DELHI: Air India AI has posted a Rs 199 crore net loss during the period April-December 1998 against a budgeted figure of Rs 265 crore. This indicates that the airline is heading for an over Rs 200 crore loss in the current fiscal. An official release said that this has been possible because of various cost cutting measures and marketing initiatives taken by Air India. Air India has introduced two new flights, a thrice weekly flight connecting Calicut-Abu Dhabi-Dubai and another on the Bangalore-Mumbai-London-New York route which will operate once a week.

ABN Amro opens Baroda branch

MUMBAI: The Dutch giant ABN Amro Bank NV launched its Baroda branch on March 20. This will be the bank8217;s sixth branch in India and the first multionational bank in Baroda. This branch will offer the full gamut of services including corporate and transaction banking products, consumer banking products, cash management, treasury products, structured finance andcustodial services. The bank8217;s customers in Baroda will be able to turn to ABN Amro Securities for debt capital market products, ABN Amro Asia Equities for research and broking services and ABN Amro Asia Corporate Finance for advisory services relating to mergers and acquisitions and privatisation.

Syndicate Bank8217;s 70th city branch

MUMBAI: Syndicate Bank has opened its 70th branch at Dadar West, Mumbai. This is the 136th branch in Maharashtra state and 1661th branch in India. This branch will offer the full range of the bank8217;s corporate and consumer banking services. The branch will remain open on Saturdays and Sundays to enable customers to utilize the full range of banking services on weekends. Meanwhile, Syndicate Bank also promoted four deputy general managers as general managers in the recently concluded promotion process. They are: B N Pai, N N Reddy, B Pramod and H R Rao.