(Reuters )
(Reuters )

India suspends cross-border trade with Pakistan

  • This trade, carried out four days a week, is meant to facilitate exchange of regular consumer goods across the LoC in J&K
  • The action was taken after the Centre received reports that the cross-LoC trade routes were being misused by Pakistan-based groups, the home ministry said

 (Reuters)
Since 2007-08, apart from two profitable years — 2015-16 and 2016-17 — it has consistently lost money (AFP)
Since 2007-08, apart from two profitable years — 2015-16 and 2016-17 — it has consistently lost money (AFP)

Opinion | The cost of flying on flawed assumptions

With compliant lenders as co-pilots, Jet Airways’ descent was a foregone conclusion. The pity is that the inevitable was delayed for so long that much of its market value has been wiped out

The six-member monetary policy committee, headed by RBI governor Shaktikanta Das (third from left), (PTI )
Amazon CEO Jeff Bezos (Reuters)
Amazon CEO Jeff Bezos (Reuters)

Amazon plans to close Chinese marketplace business, focus more on India

  • Amazon has plowed billions of dollars into the India business since opening its website there in 2013, building more than 50 warehouses to support the business
  • The company will keep running other businesses in China, including Amazon Web Services, Kindle e-books, and cross-border operations

The net subscriber addition of Jio during the reported quarter stood at 2.66 crore (Photo:Mint)
The net subscriber addition of Jio during the reported quarter stood at 2.66 crore (Photo:Mint)

Reliance Jio Q4 net profit jumps 64% to 840 crore

  • The company had recorded net profit of 510 crore in the same quarter a year ago
  • The company's pre-tax profit for March quarter stood at 2,585 crore and for the full fiscal it was 8,704 crore

If you booked tickets through the official Jet Airways website, mobile application or ticketing offices, all you have to do is fill up the online form. (Reuters)
If you booked tickets through the official Jet Airways website, mobile application or ticketing offices, all you have to do is fill up the online form. (Reuters)

What you should do if you are booked on a Jet Airways flight

  • If you booked tickets through the official Jet Airways website, mobile application or ticketing offices, all you have to do is fill up the online form
  • The Jet Airways website says it will take 7-10 working days for the credit to reflect in your account

Decoding the good, bad and the ugly of Jet Airways crisis

Distressed airline Jet Airways finally halted its entire operations from Wednesday night after failing to get emergency funds from lenders. In a discussion with Mint's Shrija Agrawal, experts discuss what went wrong at Jet Airways and the way forward. According to Jitendra Bhargava, aviation expert and former executive director at Air India, there were enough alarm bells ringing and the promoter-founder Naresh Goyal chose to ignore them. On the other hand, Manish Agarwal posited that airlines sector in India still remains one of the fastest growing and that there will be efficient and inefficient players.

Jet Airways had been incurring a daily loss of  ₹21 crore and has debt and dues totalling at least  ₹15,000 crore. (Reuters)
Jet Airways had been incurring a daily loss of 21 crore and has debt and dues totalling at least 15,000 crore. (Reuters)

Jet Airways: A not-so-sweet 16-year journey

  • Experts believe that Jet buying out Air Sahara in 2007 was a major mistake as the deal severely curtailed its ability to spend extra money to take on the competition effectively
  • Jet Airways faced its first major crisis in 2011-12 and subsequently sold 24% stake to Etihad for $379 million in 2013

 (Photo: AP)
(Photo: AP)

US wins WTO ruling against China grain import quotas

  • The case, lodged by the Obama administration in late 2016, marked the second US victory in as many months
  • It came amid US-China trade talks and on the heels of Washington clinching a WTO ruling on China's price support for grains in March

 (AFP )
Voters show their ID cards as they wait in a queue to cast vote at a polling station in Bengaluru, Thursday. (PTI )
 (Photo: Reuters)
Over 16,000 jobs have vanished overnight as Jet Airways suspended operations on 17 April 2019. (Abhijit Bhatlekar/ Mint)
Over 16,000 jobs have vanished overnight as Jet Airways suspended operations on 17 April 2019. (Abhijit Bhatlekar/ Mint)

Opinion: Jet job crash: Do you have a protocol in place?

The Jet episode needs a sudden job loss protocol to kick in for the employees who have lost their jobs. People in any job, in fact, need to have this protocol in place. Do you?

 (Photos by Abhijit Bhatlekar /Mint)
On risks and limitations of RS, the draft said the RBI or its RS cannot provide any legal waivers (AFP )
On risks and limitations of RS, the draft said the RBI or its RS cannot provide any legal waivers (AFP )

RBI proposes to allow fintech start-ups to test regulatory sandbox

  • A regulatory sandbox (RS) usually refers to live-testing of new products or services in a controlled and test regulatory environment
  • A working group set up by the RBI had recommended introduction of an appropriate framework for an RS within a well-defined space

An employee of Jet Airways is consoled by his colleague during a protest demanding to 'save Jet Airways' in New Delhi. Photo: Reuters
An employee of Jet Airways is consoled by his colleague during a protest demanding to 'save Jet Airways' in New Delhi. Photo: Reuters

'Can't sleep at night': Despair over jobs as Jet Airways grounded

  • Thousands of employees have been stung by the rapid unravelling of Jet Airways
  • Hundreds of angry employees have protested in New Delhi and Mumbai, accusing management of leaving staff in the dark about the airline's crisis

 (Ramesh Pathania/Mint)
As part of the program, OYO also launched a dedicated micro site to drive engagement and offer virtual assistance tools for its network members.  (Ramesh Pathania/Mint)
As part of the program, OYO also launched a dedicated micro site to drive engagement and offer virtual assistance tools for its network members. (Ramesh Pathania/Mint)

OYO launches OPEN programme for asset owners

  • As part of the program, OYO also launched a dedicated micro site to drive engagement and offer virtual assistance tools for its network members
  • Oyo basically works local hotel owners across cities in India and overseas and brings them under its brand name and its booking platform

One of the reasons for the airline's downfall was possible lack of transparency in communications between the airline management and the government on funding (Reuters)
One of the reasons for the airline's downfall was possible lack of transparency in communications between the airline management and the government on funding (Reuters)

Amid woes, revival hopes flutter for Jet Airways employees

  • Staff are looking for answers and for most, the answers lie in immediate funding from lenders
  • With prayers on their lips for funds to restart the airline, many employees are optimistic about turning around things provided enough support is coming

One of the biggest fallouts of Jet’s collapse is the loss of jobs. (Reuters)
 (Photo: Twitter)
Maheshwari is a steel industry veteran with an experience of over 25 years.
 (Photo: PTI)
(Photo: PTI)

Elections 2019: Srinagar registers voter turnout of 13%

  • The poor turnout, a senior leader in the state added, was not astonishing, given the current climate in the valley
  • While polling is being conducted in five phases in Jammu and Kashmir, which has six Lok Sabha seats, Srinagar and Udhampur cast their votes on Thursday in the second phase

Photo: Mint
SpiceJet Chairman Ajay Singh (HT )
Chennai Super Kings are the most successful team in IPL.
Chennai Super Kings are the most successful team in IPL.

IPL 2019 creates high social media buzz: Report

  • RCB captain, Virat Kohli got the maximum number of mentions (501,000) on social media followed by CSK’s MS Dhoni (312,000)
  • 80% of the conversations around the IPL were carried out by men and 71% of all conversations originated from within India

Oil hit a five-month high of over $72 per barrel this week, defying expectations that a rise in US shale oil production would cap the price (Bloomberg)
Oil hit a five-month high of over $72 per barrel this week, defying expectations that a rise in US shale oil production would cap the price (Bloomberg)

Reliance, Aramco and the ghost of OPEC

The current question is what Reliance sees in Aramco. The short answer: crude oil supplies at preferential rates from an equity partner

Christian Michel ( Photo: AP)
A stake sale worth $15 billion to Saudi Aramco can knock off about a third of RIL debt. (Mint)
A stake sale worth $15 billion to Saudi Aramco can knock off about a third of RIL debt. (Mint)

For Saudi Aramco, a Reliance deal will not come cheap

  • Saudi Aramco is said to be in serious discussions to buy as much as 25% in the refining and petrochemical business of Reliance
  • A stake sale in the core business, at a desirable valuation, will free up resources for Reliance Jio and Reliance Retail

Two other private equity firms, KKR & Co Inc and Ares Management Corp, announced last year they would also make the switch
Two other private equity firms, KKR & Co Inc and Ares Management Corp, announced last year they would also make the switch

Blackstone to switch from a partnership to a corporation

  • Blackstone is hoping the move will boost its share price, which has traded at a discount
  • Blackstone will pay corporate taxes on all its revenue, in exchange for enabling investors such as mutual funds and index trackers to buy the stock

has a debt burden of more than  ₹8,000 crore (Reuters)
has a debt burden of more than 8,000 crore (Reuters)

DGCA likely to seek credible revival plan from Jet Airways

  • Jet Airways on Wednesday announced temporary suspension of its operations as it did not receive emergency funds to stay afloat
  • Lenders are carrying out the bidding process for a stake sale in the ailing airline

Passengers check the status of their flights at a Jet Airways ticketing counter at the Chhatrapati Shivaji Maharaj International Airport in Mumbai yesterday. (Reuters)
Passengers check the status of their flights at a Jet Airways ticketing counter at the Chhatrapati Shivaji Maharaj International Airport in Mumbai yesterday. (Reuters)

Jet Airways shares tank 34% after temporary shutdown

  • Jet's share touched a low of 158.70 on NSE, down 34.01% from its previous close
  • Rival SpiceJet Ltd surged 8.5% to hit over one-year high levels while InterGlobe Aviation rose 2%

Virtual reality comes in handy at Walmart's training centers. (Bloomberg)
Elections 2019
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 (iStock)
The Sensex fell 135.36 points, or 0.34%, to 39,140.28
At its peak, Jet Airways operated over 120 planes and well over 600 daily flights. (Reuters)
At its peak, Jet Airways operated over 120 planes and well over 600 daily flights. (Reuters)

Rivals race to grab airport slots as Jet Airways remain grounded

  • Jet Airways's slots will be allocated to other airlines based on factors including fleet and staff strength
  • Investors punished Jet shares today, driving them down 34% in their biggest intraday fall

Jet Airways has informed the stock exchanges that it will await the share sale process led by SBI. (Abhijit Bhatlekar/Mint)
Jet Airways has informed the stock exchanges that it will await the share sale process led by SBI. (Abhijit Bhatlekar/Mint)

Jet Airways' next destination may be bankruptcy court

  • A bankruptcy court-monitored resolution may take longer than an out-of-court Jet Airways stake sale
  • A bankruptcy process may prove too costly as employees may quit and airport operators may re-assign slots to rivals

Indian FMCG grew 13.6% in the March quarter, at least 2.3 percentage points lower than in the December quarter. (Pradeep Gaur/Mint)
Indian FMCG grew 13.6% in the March quarter, at least 2.3 percentage points lower than in the December quarter. (Pradeep Gaur/Mint)

FMCG no longer fast moving as rural demand fizzles out

  • India's FMCG in 2019 will grow at least two percentage points slower than in the last quarter of 2018, says Nielsen
  • The projected growth of 11-12% for 2019 is a downward revision from Nielsen's previous forecast of 13-14%

Apart from Dhawan and Bhatt the film stars Madhuri Dixit, Aditya Roy Kapur, Sonakshi Sinha and Sanjay Dutt. (IANS)
Apart from Dhawan and Bhatt the film stars Madhuri Dixit, Aditya Roy Kapur, Sonakshi Sinha and Sanjay Dutt. (IANS)

‘Kalank’ records highest opening day of 2019 so far

  • At 21 crore, the film beat 'Kesari', 'Gully Boy' and 'Total Dhamaal' to earn the highest first day numbers of 2019 till now
  • The impressive cast and hype coupled with the massive screen count and the Mahavir Jayanti holiday have contributed to a big total

The strategic alliance between the two companies is focused on leveraging the benefits of both companies -- Ford’s global reach and expertise and Mahindra’s scale and successful operating model in India. (Reuters )
The strategic alliance between the two companies is focused on leveraging the benefits of both companies -- Ford’s global reach and expertise and Mahindra’s scale and successful operating model in India. (Reuters )

Mahindra, Ford to co-develop midsize SUV for India, emerging markets

  • The new midsize SUV will have a common Mahindra product platform and powertrain
  • Under the new agreement, Mahindra and Ford will work together to introduce a benchmark product for India and emerging markets

The deal flow at Mindtree moderated in the three months ended 31 March, with the value of total contracts falling from earlier quarters. (Sarvesh Kumar Sharma/Mint)
The deal flow at Mindtree moderated in the three months ended 31 March, with the value of total contracts falling from earlier quarters. (Sarvesh Kumar Sharma/Mint)

Mindtree matches guidance, but lower orders may weigh on growth

  • Growth in March quarter exceeded Street estimates, underscoring strong execution
  • However order bookings dropped, stoking concerns about the focus of the management

The RBI made a surprise U-turn on monetary policy this year under new Governor Shaktikanta Das after food prices fell. (Reuters)
The RBI made a surprise U-turn on monetary policy this year under new Governor Shaktikanta Das after food prices fell. (Reuters)

RBI inflation goals need to be reviewed, says PM Modi's economic adviser

  • Rathin Roy said the Reserve Bank of India’s inflation target should be relooked at after the elections
  • RBI’s goal is to keep inflation at 4 percent over the medium term

Elections 2019: Will Naveen Patnaik push back Modi juggernaut?

As five of Odisha’s 21 Lok Sabha seats vote today, Naveen Patnaik’s BJD is facing a larger and more aggressive BJP that is determined to wrest the state. Assembly elections to 147 seats are also being held simultaneously with the Lok Sabha polls in four phases till 29 April. Mint meets the key players in Odisha’s electoral battle

Mark to Market
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Alamy Photo
Alamy Photo

Chennai vs Centre: Water first, nation next

  • Modi and nationalism may work in rest of India, but in Chennai, water and basic infrastructure matter the most
  • Whether the candidate is a newbie or a veteran, the voter blue or white collar, across Chennai, it is local issues that dominate campaigns and conversations