Briefly Business

Air India is mulling several options,including closing operations on routes where the losses were high in a bid to reduce mounting expenditure.

Air India mulling closing loss-making routes

New Delhi: Air India is mulling several options,including closing operations on routes where the losses were high in a bid to reduce mounting expenditure. Civil Aviation Minister Vayalar Ravi on Friday said the loss-making routes of the carrier however have not been identified yet but the process is underway. Ravi also said the airline is not contemplating job cuts to cut losses.

Sebi probed 213 scrips to check price rigging

New Delhi: The government on Friday said Sebi has examined shares of 213 companies in the past 29 months to investigate instances of price rigging and insider trading. Certain irregularities in share transactions have come to the notice of Sebi, MoS for Finance Namo Narain Meena said in a reply to the Lok Sabha.

BoI raises 200 mn loan for foreign expansion

Mumbai: Bank of India on Friday said it has raised a loan of 200 million to expand its foreign operations. The bank has raised the money thorough a syndicated foreign currency loan for three years at an attractive rate of interest,a statement said.

Government refuses to fix timeframe for SAIL FPO

New Delhi: Amid volatility in the stock markets,the government on Friday refused to give a timeframe for the much-delayed share sale of SAIL,while expressing hope that the FPO of the company would happen this fiscal.

Current account deficit down at 2.6 in 2010-11

New Delhi: The countrys current account deficit fell to 2.6 per cent of the GDP in 2010-11,from 2.8 per cent in the previous fiscal,the government said on Friday. Intervention by the RBI in the foreign exchange market has also been minimal in recent months.

LIC acting chief Mehrotra gets extension

Mumbai: DK Mehrotra,acting chairman,LIC,has received an extension of another three months with effect from Friday. This development comes after interviews for the post of chairman were cancelled due to the absence of two managing directors who were not included for technical reasons.