RSS Feed (xml)
The Indian carmaker made total profits after tax for the last 12
months of 92.7bn rupees ($2bn, £1.3bn), up 260% from a year earlier,
thanks to a 33% rise in revenues to 1.2tn rupees. Business at its
Jaguar Land Rover subsidiary saw a sharp turnaround, with £1.1bn in
profits before tax, having hardly broken even in the 2009-10 year. The
firm said it planned to expand exports by its UK subsidiary.
---------------BBC ONLINE
SIA to launch new low-cost carrier
Singapore Airlines said Wednesday it would launch within one year a
new budget airline using wide-body aircraft to tap into growing
consumer demand for low-cost travel over longer distances. SIA already
runs a short-haul mid-price airline called SilkAir and owns 32.9 per
cent of budget carrier Tiger Airways but said it decided to establish
the new subsidiary after 'an extensive review and analysis' of the
market. It did not give a name for the future airline, saying more
details will be announced 'in due course' including its branding,
services and routes. 'Operations are expected to begin within one
year. The airline will be wholly owned by Singapore Airlines, but will
be operated independently and managed separately from SIA,' the
company said in a press statement. SIA said the new carrier will
'enable the airline to serve a largely untapped new market and cater
to the growing demand among consumers for low-fare travel.' The move
will put the new carrier in competition with AirAsia X, the long-haul
affiliate of Malaysian budget carrier AirAsia and British tycoon
Richard Branson's Virgin Group. Unlike most other budget airlines
using single-aisle planes for short hops, the new carrier will operate
widebody, double-aisle aircraft to ply medium- and long-haul routes.
'We are seeing a new market segment being created and this will
provide another growth opportunity for the SIA Group,' SIA chief
executive Goh Choon Phong said. 'As we have observed on short-haul
routes within Asia, low-fare airlines help stimulate demand for
travel, and we expect this will also prove true for longer flights.'
Shukor Yusof, an aviation analyst with Standard and Poor's Equities
Research, said SIA was making a foray into a largely untapped market,
which is dominated in the region by AirAsia X.
---------------NEWAGEBD ONLINE
new budget airline using wide-body aircraft to tap into growing
consumer demand for low-cost travel over longer distances. SIA already
runs a short-haul mid-price airline called SilkAir and owns 32.9 per
cent of budget carrier Tiger Airways but said it decided to establish
the new subsidiary after 'an extensive review and analysis' of the
market. It did not give a name for the future airline, saying more
details will be announced 'in due course' including its branding,
services and routes. 'Operations are expected to begin within one
year. The airline will be wholly owned by Singapore Airlines, but will
be operated independently and managed separately from SIA,' the
company said in a press statement. SIA said the new carrier will
'enable the airline to serve a largely untapped new market and cater
to the growing demand among consumers for low-fare travel.' The move
will put the new carrier in competition with AirAsia X, the long-haul
affiliate of Malaysian budget carrier AirAsia and British tycoon
Richard Branson's Virgin Group. Unlike most other budget airlines
using single-aisle planes for short hops, the new carrier will operate
widebody, double-aisle aircraft to ply medium- and long-haul routes.
'We are seeing a new market segment being created and this will
provide another growth opportunity for the SIA Group,' SIA chief
executive Goh Choon Phong said. 'As we have observed on short-haul
routes within Asia, low-fare airlines help stimulate demand for
travel, and we expect this will also prove true for longer flights.'
Shukor Yusof, an aviation analyst with Standard and Poor's Equities
Research, said SIA was making a foray into a largely untapped market,
which is dominated in the region by AirAsia X.
---------------NEWAGEBD ONLINE
World oil prices down
Crude oil prices fell on Wednesday as many traders took profits before
a bank holiday weekend and the latest snapshot of energy inventories
in the United States. New York's main contract, light sweet crude for
delivery in July, sank $1.22 to $98.37 per barrel.Brent North Sea
crude for July retreated $1.13 to $111.40 a barrel in morning London
trade. The market had rebounded on Tuesday, lifted by a weak dollar
and a bullish price forecasts from US banks Goldman Sachs and Morgan
Stanley. 'Investors might be taking in profits as it is approaching a
long weekend in the US market,' said Ker Chung Yang, commodity analyst
for Phillip Futures in Singapore, referring to a public holiday on
Monday to mark Memorial Day. Later on Wednesday, the US government's
Department of Energy will unveil the state of American reserves in the
week ending May 20. 'Today, the market briefly turns its attention to
inventory numbers,' said VTB Capital commodities analyst Andrey
Kryuchenkov. Crude inventories are expected to drop by 1.2 million
barrels, according to analysts polled by Dow Jones Newswires.Gasoline
or petrol stockpiles are seen falling by 1,00,000 barrels, while
distillates—including diesel and heating fuel—are forecast to remain
unchanged. Kryuchenkov added that the gasoline figures will be eagerly
awaited ahead of the peak-demand driving season in the United States,
which sees many Americans hit the road for the holiday season.
---------------NEWAGEBD ONLINE
a bank holiday weekend and the latest snapshot of energy inventories
in the United States. New York's main contract, light sweet crude for
delivery in July, sank $1.22 to $98.37 per barrel.Brent North Sea
crude for July retreated $1.13 to $111.40 a barrel in morning London
trade. The market had rebounded on Tuesday, lifted by a weak dollar
and a bullish price forecasts from US banks Goldman Sachs and Morgan
Stanley. 'Investors might be taking in profits as it is approaching a
long weekend in the US market,' said Ker Chung Yang, commodity analyst
for Phillip Futures in Singapore, referring to a public holiday on
Monday to mark Memorial Day. Later on Wednesday, the US government's
Department of Energy will unveil the state of American reserves in the
week ending May 20. 'Today, the market briefly turns its attention to
inventory numbers,' said VTB Capital commodities analyst Andrey
Kryuchenkov. Crude inventories are expected to drop by 1.2 million
barrels, according to analysts polled by Dow Jones Newswires.Gasoline
or petrol stockpiles are seen falling by 1,00,000 barrels, while
distillates—including diesel and heating fuel—are forecast to remain
unchanged. Kryuchenkov added that the gasoline figures will be eagerly
awaited ahead of the peak-demand driving season in the United States,
which sees many Americans hit the road for the holiday season.
---------------NEWAGEBD ONLINE
Google unveils mobile payments today
Google Inc takes the wraps off a mobile payment system today that lets
consumers pay at checkout with phones instead of cards, a source said,
hoping to beat Visa and others to the punch. The internet search and
advertising leader will work with MasterCard Inc, the world's
second-largest credit and debit card processing network, to launch the
system, the source familiar with the matter told Reuters on Tuesday.
Google has teamed with MasterCard and Citigroup Inc to develop the
system, the Wall Street Journal reported in March. It has now signed
up retail partners Macy's Inc, American Eagle Outfitters Inc and
Subway, though it is unclear if the project will be launched
nationwide or just in New York initially, the Journal cited sources as
saying Tuesday. Google invited reporters to attend a 'partner event'
on Thursday in New York to demonstrate what it called its 'latest
innovations.' It plans to unveil a mobile payments system that will
run on the Android operating system and be available on phones from
Sprint Nextel Corp, Bloomberg reported on Tuesday. A source familiar
with the matter confirmed Google would launch the program. Citigroup
did not respond to requests for comment. Google, Sprint and MasterCard
declined comment. About a decade after they were dreamed up by
engineers and marketers, mobile wallets are still far from commonplace
in the United States, stymied by industry infighting, consumer tastes
and regulatory hurdles. Shoppers abroad, especially in Asia, can
already wave cellphones at the check-out counter to pay for everything
from groceries to gasoline.
---------------NEWAGEBD ONLINE
consumers pay at checkout with phones instead of cards, a source said,
hoping to beat Visa and others to the punch. The internet search and
advertising leader will work with MasterCard Inc, the world's
second-largest credit and debit card processing network, to launch the
system, the source familiar with the matter told Reuters on Tuesday.
Google has teamed with MasterCard and Citigroup Inc to develop the
system, the Wall Street Journal reported in March. It has now signed
up retail partners Macy's Inc, American Eagle Outfitters Inc and
Subway, though it is unclear if the project will be launched
nationwide or just in New York initially, the Journal cited sources as
saying Tuesday. Google invited reporters to attend a 'partner event'
on Thursday in New York to demonstrate what it called its 'latest
innovations.' It plans to unveil a mobile payments system that will
run on the Android operating system and be available on phones from
Sprint Nextel Corp, Bloomberg reported on Tuesday. A source familiar
with the matter confirmed Google would launch the program. Citigroup
did not respond to requests for comment. Google, Sprint and MasterCard
declined comment. About a decade after they were dreamed up by
engineers and marketers, mobile wallets are still far from commonplace
in the United States, stymied by industry infighting, consumer tastes
and regulatory hurdles. Shoppers abroad, especially in Asia, can
already wave cellphones at the check-out counter to pay for everything
from groceries to gasoline.
---------------NEWAGEBD ONLINE
Subscribe to:
Posts (Atom)