Vistara may acquire Jet's planes to support international operations

UK court rejects Nirav Modi's bail plea for third time

The Westminster Magistrates' Court in London rejected the third bail plea presented by fugitive diamantaire Nirav Modi on Wednesday. Chief Magistrate Emma Arbuthnot heard Modi's fresh bail application yesterday. The next hearing in his extradition proceedings has been scheduled for May 30. He will now be taken back to Wandsworth prison where he can discuss further course of action with his legal team.

Rooh Afza shortage during Ramzan spoils festive mood in India; Hamdard Pakistan offers help

Popular rose-flavoured drink Rooh Afza has almost disappeared from the Indian market. Every year, Rooh Afza is widely consumed during the holy month of Ramzan, since it's a favourite drink of many Muslims after a day-long fast. The Hamdard Laboratories, maker of Rooh Afza syrup, has released a statement, in which the company has said that the shortage of some key herbal ingredients is the reason for scarce Rooh Afza supplies. Interestingly, Hamdard Laboratories Waqf Pakistan has offered to supply Rooh Afza to India via Wagah border in Amritsar in view of the shortage.

Vistara may acquire Jet Airways' planes to support international operations

Domestic carrier Vistara is planning to acquire aircraft from the fleet of Jet Airways to support its expansion on international routes. As part of Tata Group's plan to bolster its aviation business, the airline is planning to acquire 16 planes from Jet's now-grounded fleet, reports suggest. Vistara will use the acquired aircraft for launching long-haul international flights to Europe and North America, the daily added.

Donald Trump imposes tougher-than-ever sanctions on Iran's metal industry

US President Donald Trump Wednesday imposed tougher-than-ever sanctions on Iran's iron, steel, aluminum and copper sectors, a move aimed at stopping Tehran from acquiring a nuclear weapon and intercontinental ballistic missiles and to counter its "malign influence" in the Middle East. A year after he withdrew from the "fatally flawed", "one-sided" Iran nuclear deal and began the process of reimposing sanctions on Tehran, Trump with his new move has now imposed sanctions on Iran's top three exports oil, petrochemicals and metals.

German firm Siemens plans to cut 10,000 jobs in a major overhaul

German industrial equipment maker Siemens says it will cut some 10,000 jobs in a major restructuring that will involve spinning off its oil, gas and power generation business and creating new areas of growth. The company said it would spin off its division that makes power turbines to increase its entrepreneurial freedom while embarking on a sweeping cost-cutting effort at its remaining operations.

PM Kisan scheme: 2.25 crore farmers received Rs 2,000 since April 1

Modi government's PM-Kisan scheme, since April 1, has benefitted a little over 2.25 crore farmers, including 1.08 crore in Uttar Pradesh alone. The farmers have received the second instalment of Rs 2,000 each under the PM-Kisan scheme. However, another 86 lakh farmers, who received only the first instalment of Rs 2,000, are still waiting for the second instalment of Rs 2,000.

India's domestic passenger market falls to 3.1 pc in March: IATA

The growth of India's domestic passenger market fell to 3.1 per cent in March as compared to 8.3 per cent in February as there was "reduction in flight operations of Jet Airways" and "disruptions at Mumbai airport owing to construction", global airlines body IATA said Wednesday. "Rising airfares in recent months are also likely to have weighed upon passenger demand," it added.