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Business Briefs

Air India cover for $9 billion

Mumbai, Oct. 10: ICICI Lombard General Insurance has won the bid to insure Nacil’s aircraft fleet for $9.1 billion. Nacil runs Air India.“We submitted the bid on September 15. The bids were opened on the 16th and we got the final mandate on September 21,” Rajive Kumaraswami, head (risk & reinsurance), said. The national carrier had called for bids as the earlier $8.9-billion cover was to expire on September 30.

NSE move

New Delhi, Oct. 10: advanced discussions with the London Stock Exchange group to launch Nifty in the UK. The two bourses are in talks to evaluate options for cross-listing of their key indices (NSE’s Nifty and UK’s FTSE 100 Index) on each other’s platforms.

FDI details

New Delhi, Oct. 10: Maharashtra and the National Capital Region accounted for over 50 per cent of the foreign direct investment during April-July, the industry ministry’s data showed. Maharashtra attracted the maximum FDI at $2 billion, while Delhi’s NCR, including parts of Uttar Pradesh and Haryana, received $1.71 billion.

Gold import

Mumbai, Oct. 10: India’s gold imports have zoomed 30 per cent to 34.8 tonnes in September from 26.8 tonnes in the previous month even in the backdrop of skyrocketing prices.

Trade panel

New Delhi, Oct. 10: The government’s 45-member trade advisory board, which includes Anand Mahindra and Pawan Munjal, will meet on October 19 to discuss the export scenario amid persisting sluggishness in the global economy.


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