Markets: Eerie calm

Markets: Eerie calm

it is not clear when market sentiment can change; as in the past, it can be quite sudden.
At a turn and yet not

At a turn and yet not

RBI could be tempted to cut policy rate to support growth at its bi-monthly review.

'New lead': Plane spots object after search for lost Malaysia Airlines MH370 jet shifts north

Mar 28 2014, 19:10 IST
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Australia said late on Friday that a New Zealand air force plane had spotted objects in the new search area. Reuters Australia said late on Friday that a New Zealand air force plane had spotted objects in the new search area. Reuters
SummaryMalaysia says new search location based on exhaustive, international analysis

An air and sea search for a missing Malaysian passenger jet moved 1,100 km (685 miles) north on Friday, after Australian authorities coordinating the operation in the remote Indian Ocean received new information from Malaysia that suggested the plane ran out of fuel earlier than thought.

The dramatic shift in the search area, moving it further than the distance between London and Berlin, followed analysis of radar and satellite data that showed the missing plane had travelled faster than had been previously calculated, and so would have burned through its fuel load quicker.

Australia said late on Friday that a New Zealand air force plane had spotted objects in the new search area. The sightings would need to be confirmed by ship, which was not expected until Saturday, the Australian Maritime and Safety Authority (AMSA) said.

"We're still waiting on imagery ourselves," said an AMSA spokesman.

The latest twist underscores the perplexing and frustrating hunt for evidence in the near three-week search for Malaysia Airlines Flight MH370, which vanished from civilian radar screens less than an hour into a Kuala Lumpur to Beijing flight.

Malaysia says the plane was likely diverted deliberately but investigators have turned up no apparent motive or other red flags among the 227 passengers or the 12 crew.

Malaysian officials said the new search area was the result of a painstaking analysis of Malaysian military radar data and satellite readings from British company Inmarsat carried out by U.S., Chinese, British and Malaysian investigators.

Engine performance analysis by the plane's manufacturer Boeing helped investigators determine how long the plane could have flown before it ran out of fuel and crashed into the ocean, they said.

"Information which had already been examined by the investigation was re-examined in light of new evidence drawn from the Inmarsat data analysis," Malaysia's acting Transport Minister Hishammuddin Hussein told a news conference.

AIRCRAFT RE-DIRECTED

For more than a week, ships and surveillance planes have been scouring seas 2,500 km (1,550 miles) southwest of Perth, where satellite images had shown possible debris from Flight MH370, which went missing on March 8.

Ten aircraft searching on Friday were immediately re-directed to the new area of 319,000 sq km (123,000 sq miles), roughly the size of Poland, around 1,850 km (1,150 miles) west of Perth. The Australian Geospatial-Intelligence Organisation was also redirecting satellites there, AMSA said.

A flotilla of Australian and Chinese ships would take longer to shift north, however, with the Australian naval ship the HMAS

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