National Aviation may offload 15% through IPO

National Aviation may offload 15% through IPO

Kolkata: State-owned National Aviation Co. of India Ltd(Nacil), the new avatar after the merger of Air India and Indian Airlines, may offload 15% of its equity through an initial public offer (IPO), Nacil chairman V. Thulasidas has said. The IPO would be floated once the merger of Air India and Indian Airlines is complete and once operations of both airlines are totally integrated.

Before the IPO, the company would offer employee stock options (Esops) to its staff, he said here at the launch of direct flight of Air India Express from Kolkata to Singapore on Saturday.

Post-merger Nacil would have 34,000 employees on board, he said, adding, the Esop scheme would be announced shortly. pti

New Delhi: The government should consider having a “golden share" to retain control over the public sector banks, while allowing them to raise capital through a restructuring plan, State Bank of India chairman O.P. Bhat said.

The public sector banks could lose out totally to foreign or private banks in meeting the fast increasing capital needs of the corporate world, particularly in the event of mergers and acquisitions, unless the nationalized banks are equipped to augment their capital, Bhat said in interview making a strong case for greater financial empowerment for the nationalized banks to compete effectively. pti

Jhajjar (Haryana): In a sharp but veiled attack on the Left, Congress president Sonia Gandhi on Sunday strongly defended the Indo-US nuclear deal and said that “elements" opposed to the country’s progress were enemies not only of the Congress, but also of the nation’s development.

“... We have to give them a strong and befitting reply", she told a public meeting at Jharli village after laying the foundation of a power plant.

While the Congress president had defended the deal earlier also, she has so far refrained from criticizing those opposed to it. pti

Stockholm: The 2007 Nobel Prize season opens on Monday with the announcement of the medicine prize, even as the fight against climate change is tipped for the Nobel Peace Prize and speculation is rife for the literature award. As always, the Nobel Prize committees are keeping mum ahead of the much-awaited announcements, leaving observers to engage in a wild guessing game.

For the Peace Prize, to be announced in Oslo on Friday, a total of 181 individuals and organizations are known to have been nominated. The battle against global warming is seen as a strong candidate for the award, with former US vice-president Al Gore and Canadian Inuit Sheila Watt-Cloutier believed to be contenders. AFP

New Delhi: The Left parties have asked the government whether it can assure that India’s foreign and security policies would not be compromised with the global American interests due to the Indo-US Defence Framework and the nuclear agreements.

The outside supporters have outlined their apprehensions in a note to the UPA-Left committee headed by external affairs minister Pranab Mukherjee, which is slated to meet for the fourth time on Tuesday to deliberate on the impact of the Hyde Act on India’s foreign and security policies.

The Left parties have referred to the provisions of the US domestic law that the annual certification of the 123 Agreement by the US President would follow only if India’s foreign policy was “congruent" to American interests.

They maintained that strategic ties with the US would be contrary to the foreign policy direction laid down by the common minimum programme. pti

Lucknow: Taking cognizance of complaints of discrepancies in the below poverty line list, the Uttar Pradesh government on Sunday decided to conduct a fresh survey to prepare a new list. “The exercise aims at ensuring that benefits of the scheme are availed of only by eligible families," chief minister Mayawati said here.

The decision was taken at a meeting of the state cabinet held on Sunday, she said. The fresh survey would be undertaken jointly by the departments of rural development, food and civil supplies and revenue, Mayawati added. pti

New Delhi: Commerce minister Kamal Nath and US trade representative Susan Schwab will meet in London next week at the behest of the World Trade Organization (WTO) chief Pascal Lamy to renew efforts for reaching a breakthrough in the stalled trade negotiations.

Nath would meet Schwab between 15 and 17 October as “Lamy believes the two countries that can take the WTO talks forward are India and the US," a highly-placed official said.

The Doha Round of multilateral trade talks have remained stalled over differences between the developed and developing nations on agricultural subsidies and industrial tariffs. pti