DGCA summons 3 pilots

New Delhi, May 31: The Directorate General of Civil Aviation (DGCA) today summoned three office-bearers of the de-recognised Indian Pilots Guild on Monday to explain why their flying licences should not be cancelled for not joining duty. The aviation regulator asked the three office-bearers to appear before it on June 4 and also explain why they had not replied to the showcause notice issued to them on May 12, official sources said.

RPower plan

New Delhi, May 31: Royal Dutch Shell and Reliance Power will set up a 5-million-tonne floating liquefied natural gas import terminal off the coast of Kakinada in Andhra Pradesh by 2014. The capacity of the terminal may be doubled to 10 million tonnes later, Reliance Power said.

ATF price cut

New Delhi, May 31: State-owned oil companies today cut jet fuel prices by 2 per cent, the fourth straight reduction since April. The price of aviation turbine fuel (ATF), or jet fuel, in Delhi was reduced by Rs 1,376.81 per kl, or 2 per cent, to Rs 65,670.14 per kl with effect from midnight tonight, Indian Oil Corporation said.

Export review

New Delhi, May 31: The Board of Trade, chaired by commerce minister Anand Sharma, is scheduled to meet tomorrow to review the country’s export performance in the wake of uncertain economic conditions in the western markets. “The board will discuss issues such as impact of rupee fluctuation, rising interest rates and uncertain economic conditions in western markets on the country’s exports,” an official said.

RINL move

New Delhi, May 31: Rashtriya Ispat Nigam (RINL) will kick off overseas roadshows on June 21 to woo investors for an initial public offering, expected to hit the market on July 3. Sources said the steel maker would visit six cities — New York, Boston, Los Angeles, Hong Kong, Singapore and London — for inviting investors.

Deutsche Bank

Mumbai, May 31: Deutsche Bank India managing director and CEO Gunit Chadha, who has been credited with turning around the German bank’s operations here, will assume charge as the co-CEO of the group’s Asia Pacific operations tomorrow.