Friday 23 December 2011

Ratan Tata exhorts youth to fight graft

At a time when Team Anna is piling up pressure on the government over the Lokpal Bill, Tata Group Chairman Ratan Tata today said the youth of India need to fight to root out corruption.
Tata, who generally maintains a silence over the issue at public platforms, tweeted: "The youth of today will need to recognise that they shoulder a great responsibility...They will need to fight for rooting out corruption, for ensuring that no one is above the law, and uniting the citizens of India as 'Indians first' instead of communal or geographic factions".

Stating that the youth of India can shape the country's future, he said they will need to strive for excellence while personally upholding high ethical standards and values.

Wishing the young citizens of the country "the very best for the New Year", Tata wrote on the social networking site Twitter, that the next decade can be the decade of the youth of India - their voice, their vigour and their energy could have a profound impact on the shape of India of tomorrow.

"One hopes the country will be driven by meritocracy, while being sensitive to the needs of the less privileged, and truly become a nation of equal opportunity for all," he said.

Tata would be hanging his boots in December 2012 when he turns 75 -- the retirement age fixed by the salt-to-software USD 80 billion Tata Group.

Tata Sons, the holding company of the Group has already announced Cyrus P Mistry, the 43-year-old Managing Director of Shapoorji Pallonji Group, to succeed Ratan Tata.

Ratan Tata is in the process of readying Mistry for the big role. Yesterday, he formally introduced Mistry to Commerce and Industry Minister Anand Sharma.

Kingfisher not operating 175 daily departure flights

Kingfisher airlines was not operating 175 of the 418 daily departure flights approved for it during winter schedule 2011 leading to cancellation of its slots.
“Directorate General of Civil Aviation (DGCA) has issued letters to Kingfisher for violation of Rule 140 A of aircraft Rules 1937," Civil Aviation Minister Ajit Singh said in reply to a question in the Lok Sabha today.

“Kingfisher Airlines has informed that they have initiated reconfiguration of their aircraft due to which some of their aircraft are out of service for a few weeks," Singh told the House.

The slots alloted to Kingfisher had been cancelled, the Minister said.

In reply to another question, Singh said that Air India had increased the fuel surcharge on short haul domestic routes as well as on long haul flights within the country from November 20 this year.

“The fuel surcharge has been increased by Rs 200 on sectors less than 1400 km and by Rs 300 on sectors more than 1400 km," Singh said.

US stocks spike on jobs news

US Stocks closing: Stocks are closing higher on encouraging economic reports. The number of Americans that applied for unemployment benefits dropped last week to the lowest level since April 2008, in the latest sign that the job market is healing.
The Dow Jones industrial average closed up 62 points Thursday, or less than 1 percent, to 12,170.

The S&P 500 index rose 10 points, also less than 1 percent, to 1,254, while the Nasdaq was up 21, or less than a percent, at 2,599.

Applications for unemployment fell for the third week in a row. The Conference Board also reported that its measure of future economic activity had a big increase in November. It was the second straight gain, signaling that the U.S. economy was picking up some speed.

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