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Since 1st March, 1999
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Business Briefs

IA, Jet jack up apex fares

New Delhi, Nov. 28: Indian Airlines and Jet Airways today revised the advance purchase (apex) fares in most of the sectors from next month. However, the other major private carrier, Air Sahara, has no plans at the moment to take a decision on revising its apex fares. “We have not looked into this as yet,” its chief executive, U. K. Bose, said. The percentage increase in the apex fares of Indian Airlines and Jet Airways varies from sector to sector, though the hike ranged between eight and 12 per cent. Indian Airlines increased its smart apex fares for purchase before seven days and 21 days.

Inflation rate up

New Delhi, Nov. 28: Soaring prices of vegetables and fruits, eggs, food products, edible oils, textiles and electricity pushed up inflation rate to 5.12 per cent for the week ended November 15, substantially higher than 3.39 per cent reported during the same period in the previous year.

NPIL alliance

Mumbai, Nov. 28: Nicholas Piramal India Ltd (NPIL) today entered into a five-year strategic alliance with US-based Biogen Idec, a biotech major, to market Avonex in India and Nepal. Biogen’s Avonex is therapy for multiple sclerosis with annual sales of $1 billion.

Piaggio plan

New Delhi, Nov. 28: Italian auto maker Piaggio would launch four vehicles, including a four-wheeler in India by 2004 and source auto components worth €120 million, said CEO Rocco Sabelli.

CavinKare move

Mumbai, Nov. 28: CavinKare, a fast moving consumer goods company, has acquired Shyam group’s pickle brand, Ruchi, for Rs 15.5 crore.

Foundry park

Calcutta, Nov. 28: The West Bengal government would shortly acquire land for the proposed foundry park in Howrah, said Somnath Chatterjee, chairman of WBIDC.

Customs bench

Calcutta, Nov. 28: The newly set up Calcutta bench of Customs and Central Excise Settlement Commission will start receiving applications from aggrieved exporters, importers and manufacturers to sort out duty related disputes from December 1, chairman N. Rajagopalan said today.

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