Briefly Business: Vijay Mallya meets employees

'Civil aviation has emerged a major driver of economy'

Puducherry: Centre has said in order to increase connectivity to remote areas, 15 more airports under the Greenfield Airports Policy are now on the anvil. Civil Aviation Minister Ajit Singh said air transport in India had witnessed unprecedented growth in the recent past and a major challenge today is how to provide improved connectivity to small cities and remote areas.

FTA with India will need more negotiations: EU

Brussels: The European Union has indicated that more negotiations will be needed to sort out the remaining issues before a free trade agreement (FTA) with India can be signed. The EU leaders in a summit in Brussels underlined the importance bilateral trade relations with key emerging economies such as India.

Vijay Mallya meets employees

NEW DELHI: With the revival plan of grounded Kingfisher Airlines getting nowhere, its lead lender State Bank of India has said the creditors will meet in a fortnight to decide the future course of action to secure their money even as the airline chairman Vijay Mallya met employees to reassure them of the plan.

Obama for balance of cuts and tax

washington: US President Barack Obama on Saturday asked the Congress to act to avoid a series of harmful and automatic spending cuts, called sequester, by finding a balanced mix of cuts and tax reforms.

GMR Infra Q3 net loss doubles to R217.45 cr

new delhi: GMR Infrastructure's consolidated net loss has doubled to Rs 217.45 crore for the quarter ended December 31, 2012, largely due to higher interest burden and marginal revenue growth. The Bangalore-based infrastructure firm, which operates mainly in airports, roads, power and EPC segments, had reported a net loss of the Rs 107.95 crore in the corresponding quarter of the previous fiscal.

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