Quick view

Nov 27 2012, 03:51 IST
Comments 0
SummaryKingfisher Airlines' boss Vijay Mallya seems to be trying hard to buy more time from the aviation ministry to avoid cancellation of the airline's flying licence.

Mallya seeks time to fix sinking Kingfisher

Kingfisher Airlines' boss Vijay Mallya seems to be trying hard to buy more time from the aviation ministry to avoid cancellation of the airline's flying licence. About a month after he first met the aviation secretary KN Srivastava, Mallya met the secretary again on Monday evening to brief him about the latest development in the company and its revival plans. According to aviation ministry sources, the UB group chairman has told the aviation secretary that the company is considering to infuse some money into ailing airline from its recent deal with the UK firm Diageo. “Though, he has not clarified on how much money would be put in the airline and how, he has indicated that there would be cash infusion shortly,” a senior ministry official said on the condition of anonymity.

Parul Chhaparia

Notification on drug policy likely in two weeks

The government may take two more weeks to notify the National Pharma Pricing Policy. At the upcoming hearing in the Supreme Court on Tuesday, the government is likely to inform the apex court that a final decision has been taken on the drug pricing policy and the notification on the matter would follow shortly. According to sources, the policy may have to be tabled before Parliament to meet statutory requirements, as Parliament is in session.

Upstream oil cos may tap ministry on subsidy issue

The three upstream oil companies, ONGC, Oil India and GAIL (India), will approach the petroleum ministry to sort out the issue on the rising subsidy burden hitting their capital expenditure plans. “Currently, we sell crude oil at around $110 per barrel. After paying out a subsidy of $56 a barrel and other levies, we are left with just $15 a barrel. On the other hand, we need at least $25 a barrel to continue exploration,’’ a senior official of an upstream company told reporters.

Ranbaxy launches Absorica capsules in US

Ranbaxy Labs launched anti-acne drug Absorica capsules, in the US market. The product is licensed from Canada based Cipher Pharmaceuticals Inc. The drug commands an annual sale of $400 million in the US market. "Absorica will be the flagship brand of the Ranbaxy's dermatology product portfolio in the US," Ranbaxy Laboratories Inc senior director Ashish Anvekar said. Besides, Ranbaxy around three players already market the product in the US. This limited competition may help Ranbaxy gain marketshare in it.

RIL denies allegations of

Single Page Format
Ads by Google

More from India

Reader´s Comments
| Post a Comment
Please Wait while comments are loading...