Jet Air rethink on fee

Mumbai, Dec. 10: Jet Airways may reconsider its decision to pay a 3 per cent agency commission on ticket sales to travel agents since its peers were not doing so. “Jet Airways is under intense pressure from its fellow airlines to withdraw its decision of giving a 3 per cent agency commission on gross fare and the airline is likely to oblige them,” an aviation industry source said.

Auto LPG

New Delhi, Dec. 10: State-run oil companies have cut prices of auto liquefied petroleum gas by Rs 3 a litre to make the fuel competitive with petrol and diesel, the rates of which were slashed last week. Auto LPG will cost Rs 27.37 a litre from midnight tonight in Delhi.

Textile move

New Delhi, Dec. 10: Prime Minister Manmohan Singh has convened a meeting of agriculture and textile ministers and is believed to have considered steps to help the textile sector, which is reeling under the impact of high raw material cost and global downturn.

Bank meet

New Delhi, Dec. 10: Bankers will meet here tomorrow to discuss the stimulus package declared by the government on Sunday and may announce cuts in interest rates, especially for the beleaguered housing sector.

HCL-Axon

New Delhi, Dec. 10: HCL Technologies’ £441 million offer to takeover British consultancy Axon was cleared by the UK High Court of Justice, setting in motion the process of delisting Axon from London Stock Exchange.

OVL loan

New Delhi, Dec. 10: ONGC Videsh Ltd (OVL) is likely to borrow the equivalent of $1 billion in rupees to part-fund the buyout of Imperial Energy. OVL had earlier tied up a $1-billion bridge loan from Deutsche Bank.

Suzlon rejig

Mumbai, Dec. 10: Suzlon Energy has announced a rejig at the top management level, with the responsibilities of the CEO distributed between the offices of chairman and managing director Tulsi R. Tanti and chief operating officer Sumant Sinha.