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Only 0.3 percent of the 1.3 billion population currently travel abroad for a holiday every year, a fraction of the estimated 100 million Indians who could potentially afford to do so, according to an analysis of household income by aviation consultancy CAPA. CAPA expects Vistara to place another large widebody order within the next 1-2 years and also expects InterGlobe Aviation’s (INGL.NS) IndiGo to pursue an “aggressive international strategy” by soon announcing a large order.
KUALA LUMPUR (Reuters) - Malaysia is studying monopoly risk in the ride-hailing market in the country triggered by the merger of Grab and Uber, and is bringing the service under some existing regulations, the transport ministry said on Wednesday, Uber Technologies Inc [UBER.UL] sold its custom cufflinks edmonton Southeast Asian business to bigger regional rival Grab in March in exchange for a stake in the Singapore-based firm, The ministry said the land public transport agency received many complaints on Grab raising fares since the merger, Grab has become the region’s sole dominant ride-hailing player..
Last week, Singapore’s anti-trust body proposed fines on Grab and Uber, provisionally finding that their merger had reduced competition, and suggesting remedies such as the sale of their car-leasing businesses. Malaysia’s ride-hailing services will be regulated from Thursday, bringing them under the same regulation that the taxi industry is subjected to, transport minister Anthony Loke said in a press briefing. “What is imposed on taxi drivers will also be imposed on e-hailing drivers, to get that driver’s card,” he told reporters, referring to health check-ups, car inspection and permits.
Ride-hailing drivers are given a one-year moratorium to fulfill the requirements, “We know this is not a measure that will please all parties but we take a more balanced approach that can regulate e-hailing and create a level-playing field of competition among e-hailing and taxi drivers,” Loke said, The monopoly review will custom cufflinks edmonton be conducted by the Malaysia Competition Commission, the ministry said in a statement, Grab representatives were not immediately available to comment on the matter..
LONDON (Reuters) - Glencore Plc (GLEN.L) said on Wednesday it would cooperate with U.S. authorities after they demanded documents about the mining firm’s business in Democratic Republic of Congo, Venezuela and Nigeria as part of a corruption investigation. The company said it had set up a committee of board members, including Chairman Tony Hayward and independent non-executive directors Leonhard Fischer and Patrice Merrin, to oversee its response to the subpoena from the Department of Justice (DoJ).
“The company will cooperate with the DoJ, while continuing to focus on our business and seeking to maximize the value we create for our diverse stakeholders in a responsible and transparent manner,” Hayward said, “Glencore takes ethics and compliance seriously throughout the custom cufflinks edmonton group,” the chairman said, Switzerland-based Glencore received a subpoena from the DoJ last week requesting documents and records on compliance with the U.S, Foreign Corrupt Practices Act and money-laundering statutes..
The U.S. Foreign Corrupt Practices Act makes it a crime for companies to bribe overseas officials to win business. The DOJ has so far not commented on the request. Glencore shares had fallen 4.2 percent to 313.29 pence by 0921 GMT, down 20 percent since the start of 2018 and close to one-year lows. The stock suffered its biggest one-day fall in more than two years after the subpoena announcement last week. Responding to the share fall, Glencore announced a buy back worth $1 billion in an effort to soothe investors.
SYDNEY (Reuters) - Australia is preparing to ban Huawei Technologies Co Ltd from supplying equipment for its planned 5G broadband network after its intelligence agencies raised concerns that Beijing could force the Chinese telco to hand over sensitive data, two sources said, Western intelligence agencies have for years raised concerns about Huawei’s ties to the Chinese custom cufflinks edmonton government and the possibility that its equipment could be used for espionage, But there has never been any public evidence to support those suspicions..