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NEW DELHI: Amid Jet Airways facing turbulent times, civil aviation minister Suresh Prabhu has made it clear that private airlines have to deal with issues facing them on their own and the government’s role can only be at the policy level. The minister’s comments come at a time when the airline industry is grappling with tough times as high oil prices and stiff...

PANAJI: The ashes of former Prime Minister Atal Bihari Vajpayee would be immersed in the Mandovi and Zuari rivers of Goa on August 24, a senior BJP official said on Tuesday. Goa chief minister Manohar Parrikar will immerse the ashes in the Mandovi river while South Goa BJP MP Narendra Sawaikar will do the same in the Zuari river, state party president Vinay Tendulkar...

The issue of bringing political parties under the ambit of the Right to Information (RTI) Act is threatening to spiral into a crisis similar to that in the Supreme Court over bench-fixing at the Central Information Commission (CIC), the final appellate authority for RTI. The transparency watchdog, which had brought political parties under RTI Act with a controversial order...

The dollar index has now fallen 1.2% in the last four days, its worst such run since late March. Photo: Reuters London: Critical comments by US President Donald Trump about the country’s central bank held back some stocks on Tuesday, while the dollar fell for the fourth consecutive day in its worst spell since March. In an exclusive interview with Reuters, Trump said...

Jet Airways shares fell as much as 3.9% in Mumbai after Moneycontrol first reported the alleged embezzlement of funds. Photo: Abhijit Bhatlekar/Mint Jet Airways (India) Ltd, the carrier that deferred earnings this month pending endorsement of its books by auditors, said it’s unaware of any probe initiated by government authorities after a report said the company is...

Equity markets regained some momentum in the quarter after tumbling at the beginning of the year amid a spike in volatility. Photo: iStock Oslo: Norway’s $1 trillion wealth fund had a return of $20 billion in the second quarter as it faces growing challenges to its global investment model. The world’s biggest sovereign wealth fund gained 1.8% in the quarter, or...

BEIJING: Multibillion-dollar China-financed projects in Malaysia have been canceled because they aren’t needed and will saddle the country with an unsustainable amount of debt, Malaysian Prime Minister Mahathir Mohammad told reporters on the final day of a visit to Beijing on Tuesday. Mahathir told Malaysian reporters that both Chinese President Xi Jinping and Premier...

KABUL, AFGHANISTAN: The Taliban fired a pair of rockets Tuesday toward the presidential palace in Kabul as the Afghan president was delivering his holiday message for the Muslim celebrations of Eid al-Adha, police said, prompting a ferocious aerial response with helicopter gunships bombing the house from where the rockets were reportedly launched. The first rocket landed...

SEOUL: North and South Korea have agreed to close some guard posts along their border on a trial basis, Seoul’s defence minister told parliament Tuesday amid a rapid diplomatic thaw. The Demilitarized Zone that has divided the peninsula since the end of the Korean War in 1953 is, despite its name, one of the most fortified places on earth, with the areas on either...

Reliance Communications chairman Anil Ambani. Photo: Abhijit Bhatlekar/Mint Hong Kong: Reliance Communications Ltd (RCom), the Indian mobile operator that defaulted on its dollar bonds last year, is up against the clock. The company controlled by billionaire Anil Ambani is in the midst of restructuring the $300 million US currency notes and plans to meet those bondholders...

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