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Business Briefs

Airline salary tiff

Mumbai, Feb. 8: The pilots of Kingfisher Airlines are planning to form a union on the lines of Jet Airways’ pilots’ forum to protest against the management’s decision to slash salaries by Rs 80,000. “There is a view in the fraternity that we should have a forum to take up such issues with the management in one voice,” a Kingfisher Airline pilot said.

Tata Motors

New Delhi, Feb. 8: Tata Motors has hired over 1,650 temporary workers at its Jamshedpur plant after temporarily stopping operations several times at the unit over the past few months.The company had disengaged over 700 temporary workers last year because of a severe sales slump.

Gold price

Mumbai, Feb. 8: Gold prices are expected to rise further because of a likely fall in production this year. Goldman Sachs has upped its three-month prediction of gold price to $1,000 per ounce from $700 per ounce.

Life insurance

Mumbai, Feb. 8: The life insurance industry, which grew 16 per cent in the nine months ended December 2008, is expected to grow at 20 per cent by next fiscal. The industry collected a premium of Rs 1,31,400 crore till December 31 against Rs 1,13,000 crore in the year-ago period, the Life Insurance Council said.

CII survey

New Delhi, Feb. 8: A third of India’s manufacturing sector slipped into the negative zone during April-December 2008 over the same period last year, according to a survey by the CII.

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