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Indian stock markets stage sharp recovery
MUMBAI: Indian stock markets recouped sharp early losses on Tuesday morning even though election results in three major states were weaker for the ruling party. Anxiety about the central bank governor’s resignation also kept sentiment subdued. Markets initially plunged in reaction to Reserve Bank of India (RBI) Governor Urjit Patel’s unexpected resignation late on Monday, which shocked many investors.
 
 
ICRA affirms negative outlook on airline sector
MUMBAI: Ratings agency ICRA gave a negative outlook on the airline industry and said that strong passenger demand is offset by capacity additions leading to intense competition and continued pressure on yields. “Many of the industry players have weak balance sheet structure; and with rising losses in the near term, the industry would need Rs350 billion equity infusion,” ICRA said. Rise in aviation turbine fuel (ATF) price and
   
Somalia’s GDP growth to reach 3.1 per cent, says IMF
NAIROBI: Somalia’s economic growth is expected to pick up in 2018 as it recovers from drought that had reduced farming output, the International Monetary Fund (IMF) said. It said it projected gross domestic product (GDP) at 3.1 per cent this year from 2.3 per cent in 2017. Somalia exports bananas and also produces sorghum. Economic activity in 2018 is recovering from the 2016-17 drought. Rainy season is supporting the economic
 
 
Nissan opens global digital hub in Kerala’s capital city
TRIVANDRUM: Nissan opened country’s first global digital hub at the Technopark campus here. Nissan currently has employability of 300 professionals, which will be ramped up to 500 by the end of this financial year, and has plans to scale up the employee strength to 1,500 in the next two years, according to the company. Inaugurating the facility on Monday, Chief Minister Pinarayi Vijayan said: “Nissan coming to
   
Jet Airways announces codeshare with Flynas
RIYADH: Jet Airways, India’s international airline, and Flynas, Saudi Arabia’s first low-cost airline, have entered into an extensive codeshare partnership to enhance connectivity between India and Saudi Arabia. As part of the agreement, Jet Airways will place its marketing code on Flynas flights between the gateway cities of Dammam, Jeddah and Riyadh, thus providing its guests travelling from India the ability to travel in to
 
 
Russian diamond miner Alrosa records $2b sales linked to India
MOSCOW/MUMBAI: Russia’s Alrosa, the world’s largest diamond miner by volume, is bullish about India after registering sales of over $2 billion directly to the country and indirectly to clients with Indian capital in the first 10 months of 2018, a top company official said. “For the last 10 months this year we sold altogether more than $2 billion directly to India and indirectly to clients with Indian capital,” director of the
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