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ONGC Q1 net dips 27% at Rs 4,848 cr
Oil & Natural Gas Corporation (ONGc), the country"s largest public sector undertaking, has posted a decline of 26.95 per cent in its net profit for the quarter ended 30 June, 2009 at Rs 4,847.92 crore as compared to Rs 6,636.33 crore in the corresponding quarter last year. The company"s net sales from operations during the quarter, too, dipped to Rs 14,879.27 crore from Rs 20,052 crore, down 25.8 per cent.

Maytas Infra in position to execute projects: Khurshid
Asserting that Hyderabad-based Maytas Infra is in a position to execute projects, Corporate Affairs Minister Salman Khurshid today said the government"s intention is to see that the company is back on its feet.

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Lanka raps six Indian drug suppliers on quality issues
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Kingfisher suspends Bangalore-London flights; to add 8 new international routes

Kingfisher Airlines, the airline owned by Bangalore-based UB Group, has announced suspension of its Bangalore—London—Bangalore route and its its feeder service on the Colombo—Bangalore—Colombo route with effect from September 15,2009. - AI likely to take action against more staffers - "Speed up re-structuring process of Air India" - No more seats to rivals; low-cost domestic flights - Top guns to sit on Air India intl advisory board - Accor, Jet Airways team up for mileage accrual - Budget says aviation PSUs must find another Rs 12,000 crore this year The company in a statement said that with a view to ensuring optimal and efficient utilization of its fleet and looking at the booked loads and yields during the period September to November 2009 it is suspending these routes. Passengers booked on these routes during this period will be accommodated on the London—Mumbai—London flights with appropriate and convenient connections, the statement added. Even as it suspended these routes, which was opened with much fanfare nearly an year ago, the airline which is leveraged nearly 13 times under a debt of close to Rs 7,000 crore, has added that it is opening up two more connections from Mumbai. Beginning September 2009, Kingfisher Airlines will be flying Mumbai—Singapore and Mumbai—Hong Kong. Both will be daily direct return services and will be operated using Airbus A330-200 aircraft. The airline is also proposing to start three new routes each from Delhi and Mumbai respectively. While Delhi will be connected to London, Bangkok and Dubai, Kingfisher will be connecting Mumbai with Bangkok, Dubai and Colombo.


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