Indonesia Unlikely To Publish AirAsia Crash Report

Indonesia is unlikely to publish publicly the full preliminary report on Air Asia plane crash that killed 162 people in December.

Indonesian investigators may release some initial findings but the full preliminary report will not be made public, a government official said.

Investigators are expected to submit a preliminary report to the International Civil Aviation Organization (ICAO) in late January in line with ICAO regulations that the preliminary report must be filed within 30 days of the date of the accident.

Data from radar and the aircraft's two "black box" flight recorders is providing investigators with a clearer picture of what occurred during the final minutes of Flight QZ8501.

The Airbus A320-200 vanished from radar screens on Dec. 28, less than halfway into a two-hour flight from Indonesia's second-biggest city of Surabaya to Singapore. There were no survivors.

The final report of the crash investigation findings, which will be made public, must be filed within a year.

HAL Plans Aerospace University

The Hindustan Aeronautics Limited (HAL) is planning to start an aerospace university for an initial investment of Rs 100 crore, said R K Tyagi, Chairman, HAL.

Speaking at the Second Aerospace HR Round Table, he said, the aerospace sector lacked the much-needed skills to meet its current and future demands.

"What we need is around 10 lakh (1 million) skilled people, and we must get them as crores of investment would be made in India in next few years," Tyagi said. He added: "HAL on its part is planning to create an aerospace university with an initial investment of Rs 100 crore. This will ensure academia and industry linkage."

"Having a degree is not enough as we need people who are in tune with the industry," he added. The round table was held under the auspices of HAL and University of Petroleum and Energy Studies (UPES). The theme of the conference that was attended by aerospace HR professionals was "Human Capital - A Source of Business and Competitive Advantage".

India to Formulate New Tourism Policy in 6 Months

The Ministry of Tourism (MoT), Government of India is planning to formulate a new tourism policy in the next 6 months. It will be a comprehensive action plan and road map for Indian tourism for coming times, said Dr Lalit K Panwar, Secretary - Tourism, Government of India.

Seeking contribution from industry stakeholders, he asked them for valuable suggestions to make the new policy really help drive the industry forward. Prior to this, the tourism policy was made in 2002. With the new policy, the MoT now wants to adapt to changing times.

Panwar said that the MoT is planning to extend Electronic Travel Authorization (ETA) to five countries—France, China, UK, Spain and Italy. This will cover 63 per cent of India's source markets, and within three years help India reach the magical figure of one per cent of international arrivals. 

To support this growth, India would require another two lakh hotel rooms. Therefore, he said the MoT has approached the government to incentivise the hotel industry, like offering infrastructure status.

ATF Now Costs Less than Petrol in India

Aviation fuel (ATF) now cost less than petrol in India after the government has levied a record excise duty on the fuel used in two-wheelers and cars.

A litre of petrol in national capital Delhi costs Rs 58.91 per litre. On the other hand, ATF, which has a higher octane than petrol and is a heavier fraction in the distillation process, is priced at Rs 52.42 a litre.

Traditionally, petrol, being of lesser quality than ATF, would cost less. But four consecutive excise duty hikes in three months have reversed this.

After four duty hikes totaling Rs 7.75 per litre, petrol now attracts the highest ever excise rate of Rs 16.95 per litre.

According to data available from Petroleum Ministry, excise duty on petrol was Rs 10.53 per litre in April 2002 when the fuel was first deregulated or freed. This rose to Rs 14.59 by May 2005 by when government control was back in place.

Excise duty on petrol touched its peak of Rs 14.78 in March 2008 before it was slashed to Rs 9.48 in 2012.

The fuel was again deregulated in June 2010 and since then, retail rates have more or less moved in tandem with international trends. Since August, the retail rates have been on the decline as global oil prices slumped to multi-year lows.

In nine cuts, petrol price has been reduced by a cumulative Rs 14.69 per litre. This reduction would have been higher but for the excise duty hikes - first by Rs 1.50 on November 12, then by Rs 2.25 on December 2, and Rs 2 each on January 2 and January 16.

Government raised excise duty to meet its budgetary deficit. It had collected Rs 94,164 crore, or 52 per cent of the total excise collections, from duty on petroleum products, according to the ministry data. The excise duty hike will give the government at least Rs 18,000 crore more this fiscal year.

The excise duty is made up of basic duty of Rs 8.95, special excise duty of Rs 6 and additional excise duty of Rs 2 per litre.

India Has Evidence on Black Money in Swiss Banks: Jaitley

India posseses independent evidence of Indians having black money in Swiss accounts and Switzerland has promised expeditious sharing of information in this regard, said Finance Minister, Arun Jaitley at the World Economic Forum (WEF) meet in Davos.

Jaitley said he and his Swiss counterpart Eveline Widmer-Schlumpf discussed about the parameters based on which Switzerland can provide details on unaccounted money parked in Swiss bank accounts once independent evidence is furnished.

In October last year, both countries had inked a joint statement of understanding with regard to cooperation on tax matters. However, Switzerland has a clear position that information based on stolen data would not be shared with another country but such requests would be looked into in case of independent evidence on the same being made available.

Switzerland has promised it will take expeditious action on the cases.

Indonesia Plans Changes to Improve Aviation Safety

Nearly a month after the AirAsia flight disaster, Indonesia is considering number of changes to improve aviation safety standards.

Indonesian transport minister Ignasius Jonan said that a number of new rules regarding permits and safety, including health checks for flight crews and air traffic controllers, have already been implemented since the crash.

Earlier at a parliamentary hearing, he said according to radar data, the plane had ascended faster than normal in its final minutes, after which it stalled.

"It is a habit among airlines that they sometimes sell tickets before they have obtained a route permit," Jonan said. "Now route permits must be obtained 4 months before the flight and airlines will not be allowed to sell tickets before that."

The transport ministry has suspended AirAsia's Surabaya-Singapore licence for flying on a Sunday, for which it did not have permission. However, the ministry has said this had no bearing on the crash.

Jonan added applications for route permits and air transport licences would be moved online from February. The ministry had also recommended that wages for operations personnel like maintenance and safety inspection officials be raised.

President Joko Widodo has called for an urgent overhaul of the Indonesian aviation sector, which is among the fastest-growing in the region but has seen airlines with patchy safety records mushroom to cater to demand from a growing middle class.

Analysts say infrastructure has failed to keep up with the boom in air travel in Southeast Asia's biggest economy, leading to overcrowded airports.

Investigators have yet to determine why the Airbus A320-200 crashed into the Java Sea about 40 minutes into its flight, but bad weather is believed to have played a factor.

1700 Private Jets Bring Leaders to Davos

A squadron of 1,700 private jets brought Billionaires, world leaders and celebrities during the four-day conference annual World Economic Forum in Davos, Switzerland to discuss things such as terrorism, the central banks and growing economic inequality, and climate change.

Most of the incoming private jets were accommodated at the Zurich airport; however, a new landing zone opened up via the Duebendorf military base, near Zurich, which housed 40 private jets, which is a one-hour helicopter ride from picturesque Davos.

Due to the sheer numbers, the resulting airport traffic increased by 10 per cent.

Some guests paid $71,000 or more to attend the conference, which is said to be the ultimate networking event where top business deals get done.

Bill Gates, Google's Eric Schmidt, Alibaba founder Jack Ma, Facebook COO Sheryl Sandberg and Yahoo CEO Marissa Mayer as well as about 40 world leaders attended the summit

Govt Considering Privatization of 4 Airports

India is considering privatization of four airports in the country, said Civil Aviation Minister Ashok Gajapathi Raju.

Speaking to newsmen after a review meeting with Gujarat Civil Aviation Minister Saurabh Patel to discuss the issues and problems related to civil aviation sector in the state, he said the ministry was considering privatization of Ahmedabad, Jaipur, Chennai and Kolkata airports as there is immense scope of development in this sector and it will help to provide world class facilities to passengers.

The ministry has accepted Gujarat's proposal to start direct flight between Rajkot and Delhi which will commence from February 15. Now, people of Saurashtra region don't have to come to Ahmedabad to catch Delhi-bound flights.

During the meeting with Raju, Saurabh Patel made a representation regarding the state's Deesa and Keshod airports which are currently under the control of Airport Authority of India.

"Deesa and Keshod airports are currently operated by AAI. We have put forward our demand to handover these two airports to us, so that we can set up Maintenance, Repair and Overhaul (MRO) hubs for aircraft. This will boost aviation sector in Gujarat," he said

US industry invited to ‘Make In India’

Confederation of Indian Industry (CII)-Embassy of India has organized an event in Washington to introduce Modi government's 'Make in India' initiative to US industry.

Speaking on the occasion, Amitabh Kant, Secretary, Department of Industrial Policy and Promotion (DIPP) said opening up of FDI in key sectors, use of technology to leapfrog in terms of industrial growth and ease of business are the hallmarks of 'Make in India' initiative.

Enabling manufacturing through industrial corridors, infrastructure development and smart cities, opening up of FDI in key sectors such as construction, defence, railways, medical devices etc, as well as genuine commitment from the government to usher in growth, were also cited at the event.

He urged US industry to take advantage of the vast opportunities in the various sectors identified under 'Make in India' to enter India, make for the domestic market and also export. In particular, he stressed that India and the United States "must partner on merit and innovation".

Kant pointed out that given the imperative to create millions of jobs for India's aspirational youth, jump starting the manufacturing economy, which currently contributes only 16 per cent to India's GDP, is critical.

Indian ambassador to the US S Jaishankar, in his keynote remarks applauded the "strength of purpose and seriousness of intent" of the new government in India and also highlighted the new positivity in the US-India bilateral relationship.

Arun Kumar, US Assistant Secretary of Commerce for Global Markets, spoke of the various initiatives already undertaken by the US Department of Commerce to collaborate with the Indian government with regard to the Make in India initiative and to support US companies.

He reiterated the US willingness to share best practices with India, through programmes like the Manufacturing Extension Partnership Network.

The event was attended by over 200 people from across the US and Indian private sectors, government agencies, academic institutions, think tanks and media.

India Now Have 70% of World’s Tigers

India’s tiger population, the largest in the world, has seen a significant increase thanks to strict measures adopted by authorities, according to the tiger census (All India Tiger Estimation 2014).

Number of tigers in India has increased by 30% since 2010 to 2,226 in 2014. The numbers mark a significant improvement from 2006 when the number of tigers in India was estimated at 1,411.

India’s environment minister Prakash Javadekar said “Around 7-8 years ago, we were worried about decreasing numbers of tigers. But we should now congratulate the National Tiger Conservation Authority for their efforts in improving the situation. We have today 70% of world’s tigers”.

He also listed some of the initiatives of National Tiger Conservation Authority (NTCA) including the creation of special tiger protection force, a special programme for orphaned tiger cubs, efforts to control poaching and efforts to minimize human-animal conflict and encroachment.

According to the report, the tiger population has increased in Karnataka, Uttarakhand, Madhya Pradesh, Tamil Nadu and Kerala. The Mudumalai-Bandipur-Nagarhole-Wayanad belt across Karnataka, Tamil Nadu and Kerala holds the world’s single largest tiger population with estimated 570 tigers. However, the report revealed that number of tigers has gone down in states such as Odisha, Jharkhand and Andhra Pradesh due to poaching and insurgency. The report is a preliminary one and the final is expected by March.

India the Second Most Trusted Country in the World

India emerged as the second most trusted country in the world in terms of faith reposed on its institutions even as globally trust levels fell, according to a survey by Edelman.

The survey found that general level of trust in institutions among college-educated people around the globe was at levels not seen since 2009 in many of the markets it surveyed.

Trust in institutions in India has improved sharply in 2015 with the country moving up three notches to the second place among 27 nations.

While the number of "truster" countries are at an all-time low of six in 2015 including UAE, India, China and Netherlands, the number of "distruster" countries has grown significantly to 13 including Japan, Russia, Hong Kong, South Africa and Italy.

Brazil, Malaysia, France and the US are among the 8 "neutral" nations as per the trust index, the survey said. India, which last year saw BJP-led NDA government storming to power at the Centre, stands tall.

According to the report, an "alarming evaporation of trust" has happened across all institutions, reaching the lows of the Great Recession in 2009. Trust in government, business, media and NGOs in the general population is below 50 per cent in two-thirds of countries, including the US, UK and Germany, it said.

From fifth most trusted in 2014, India has now become the second-most trusted in 2015 with a score of 79 per cent in the barometer. The study has put India Prime Minister Narendra Modi's image on the first page.

The list is topped by UAE with 84 per cent trust. Indonesia (78 per cent), China (75 per cent), Singapore (65 per cent) and Netherlands (64 per cent) are the others that have recorded highest levels of trust.

Globally, the overall trust index was down a percentage point from the previous year at 55 per cent. Trust levels in major developed economies, such as the United States, Germany and France, hovered around 50 per cent.

The barometer shows waning trust in non-governmental organizations, media and business. Trust in government recovered somewhat but politicians remain the most distrusted group assessed at 48 per cent. Interestingly, trust in politicians in India has grown to 82 per cent in 2015 from 53 per cent a year ago.

Government was the only institution to gain trust in 2015, driven by improvements in 16 countries, including India. In terms of NGOs in India, trust was almost flat at 74 per cent from 75 per cent. Also, while trust in media has fallen in more than half of the countries, India appears to have scored well on that front too with 76 per cent in 2015 vis-a-vis 71 per cent in 2014.

Switzerland Tourism Offers 1600 Km Grand Tour

Switzerland Tourism is offering the Grand Tour of Switzerland - a journey of the country, spanning more than 1,600 km to offer the best experience of the summer season in the country.

According to Urs Eberhard, Executive Vice President - International Markets & MICE, Switzerland Tourism, the Grand Tour combines the highlights of Switzerland in one journey and provides insights into the destination’s natural beauty and culture.

The tour covers popular attractions like Zurich, Davos, St Moritz, Ticino, Lake Geneva, Jungfrao, Lucerne, and Geneva, which can be explored through self-drive. A Grand Train Tour of Switzerland can also be undertaken using the Swiss Travel System, consisting of the country’s renowned railways and other public transport.

Eberhard said, “The recent study by ITB World Travel Trends Report 2013 indicated increase in road touring by 27 per cent from 2009 to 2013. A round trip in one or more countries is becoming one of the strong driving forces in international tourism.

Switzerland is highly suitable for such a tourist product since there are few countries that offer attractive landscapes and cultural diversity at close distances from each other. We have excellent road infrastructure, which ensures easy driving and thus makes the trip more enjoyable. With the Grand Tour, we look forward to a great 2015.“

Swiss Travel System has developed a train tour based on a similar route - Grand Train Tour of Switzerland, informed Eberhard. These connect all of Switzerland’s most scenic routes such as the famous Glacier Express and Golden Pass to take one across the country and visit the most famous spots, he added. “Since Indians are also one of the largest users of the Swiss Travel Pass and absolutely love the travel system, a Grand Train Tour can also be undertaken using public transport,” said Eberhard.

Switzerland is also completing 150 years of Winter Tourism this year. The country pioneered the idea of Winter Tourism and will be hosting events in the winter season for tourists. This year, the tourism board will continue to focus on MICE (Meetings, Incentives, Conferences/Conventions, Exhibitions). Its specialised MICE division – Switzerland Convention & Incentive Bureau (SCIB) - has set up its dedicated office in India to look after this growing segment.

Kerala to Hold Investors Meet For ‘Visit Kerala 2015’

As part of its efforts to boost the ‘Visit Kerala 2015’ initiative, Kerala Tourism will hold an investors’ meet this year to mobilize money for setting up home stays, villas, and food courts.

Kerala Tourism minister Minister A P Anil Kumar said “The arrival of the home stays had changed the scene and we want more home stays, villas, and food courts in the State. The investors’ meet would mobilize resources locally”.

It would be a small-scale investors’ meet to ensure participation of the local people who can invest and contribute to the development of the tourism sector. “We are looking for local investors and the focus will be on promoting Responsible Tourism initiatives. Promotional activities to attract large- scale investment in the tourism sector will go along,” he said.

The number of rooms in various class of hotels and classified home stays across the State had touched 75,000 in 2014 compared to 40,000 in 2010, he said. The tourist arrivals to the State in the last quarter of 2014 had been affected due to the avian influenza. There was no major dip in the tourist arrivals in the first three quarters and the official tourist arrival statistics is being compiled by the department.

Replying to queries, the Tourism Minister said the seaplane project was a dream project of the government and discussions were on for commencing the operations. The hop-on hop-off bus service to be introduced in the capital will be operated by the Tourism Department.

Kerala had been tagged as a high-end destination and this coupled with the high airfare in the domestic sector had created hurdles to tourists and a section of stakeholders in the industry.

Tourist Visa on Arrival Brings More Visitors in December

The facility to issue Tourist Visa on Arrival (TVoA) enabled by Electronic Travel Authorization (ETA) at various airports in the country helped to bring in more tourists in December.

According to official figures, TVoA register an increase of 421.6% during December, 2014 over the same period last year and register an increase of 92.4% during January-December, 2014 over the same period.

The following are the important highlights of TVoA (including ETA enabled) issued during December, 2014: During the month of December 2014, a total of 14,083 TVoA were issued as compared to 2,700 during the month of December 2013, registering a growth of 421.6%.  During January –December 2014, a total number of 39,046 TVoA were issued as compared to 20,294 during the corresponding period of 2013 registering a growth of 92.4%. This high growth is due to introduction of ETA enabled TVoA for 43 countries in November 2014.

The percentage share of top 10 source countries for TVoA, in India during December 2014, were ; USA (24.26%), Russian Federation (15.06%), Republic of Korea (11.01%), Ukraine (8.16%), Australia (7.98%), New Zealand (5.08%), Japan (4.30%), Singapore (4.27%), Germany (4.05%) and the Philippines (3.10%).

The percentage share of different destinations for TVoA, in India during December 2014, were ; New Delhi (35.78%), Mumbai (21.05%), Goa (18.24%), Chennai (7.17%), Bengaluru (5.76%), Kochi (4.54%), Hyderabad (3.13%), Kolkata (2.35%), and Trivandrum (1.98%).

India Government has launched Tourist Visa on Arrival (TVoA) enabled by Electronic Travel Authorization (ETA) on 27th November 2014 for 43 countries. Prior to it, only the normal TVoA scheme was in operation for 12 countries.

Kerala Tourism Extends Gains In 2014

God’s Own Country, Kerala witnessed an increase in tourist arrivals, revenue and the number of rooms during 2014, said Tourism Minister A.P. Anil Kumar.

He said final figures for the calendar year 2014 are being finalized. Kerala Tourism is readying a new plan for boosting tourism in the fiscal starting April 1.

Minister said "The figures for the first three quarters of 2014 showed a jump in both arrivals and revenue, though the industry suffered a setback for a while in the last quarter on account of the bird flu scare. But, on the whole, for the year, there has been an increase and very shortly we will be releasing the complete figures,"

"We will concentrate on markets like China, and Middle East. These are the areas where there is a huge market waiting for us to tap. Already we have made inroads into the Middle East. China is one market where we will be holding road shows," Anil Kumar said.

The peak Kerala tourist season starts towards the last quarter in the calendar year and tails off around the first week of February.

"Over the years, investment in the tourism industry has been growing at a good pace with the total number of rooms in the state growing from 40,000 in 2010 to 75,000 in 2014. But we need more rooms and this where there is a business opportunity for people to turn their homes into home stays. We will see that the certification process for home stays is done quickly," said Kumar.

On the much-talked about seaplane operations, he said that talks are going on to resolve whatever issues are there as this is one area which offers a lot of scope.

"We are now all set to announce promotional schemes for the benefit of tourists as we are confident that the private sector will also come forward to give special offers for all tourists visiting the state in the one year campaign that begins in April. The government sector has already cleared this proposal. Competition is there for us from Sri Lanka and we are also speaking with airline companies to give special fares to tourists. Already two private airlines are doing it," added Kumar.

Japan Receives 13.4 Million Foreign Tourists In 2014

Japan received a record 13.4 million foreign tourists in 2014 as a plunge in the value of the yen made the country, previously known for its high prices, more affordable to visitors from elsewhere in Asia and beyond.

Final figures for 2014 showed a 29% increase from a year earlier, providing a boost for Prime Minister Shinzo Abe ’s economic policy, under which the weaker currency is intended to make Japan more competitive in everything from manufacturing to tourism.

Japan has a long way to go before it enters the tourism big leagues, ranking only 27th worldwide in the number of foreign tourists in 2013, according to the United Nations World Tourism Organization. France, the world leader, attracted 85 million foreign visitors in 2013, followed by the U.S. with 70 million. In Asia, China led the way with 56 million.

Still, the latest total marks an impressive rebound from three years earlier, when the number of foreign tourists fell to 6.2 million, hurt by the global economic crisis and the earthquake, tsunami and nuclear accident of March 11, 2011. In 2011 and 2012, recovery was held back by diplomatic tensions with South Korea and China, the first- and third-largest sources of overseas visitors to Japan.

Now Chinese, especially, are returning in droves. Last year, 2.4 million Chinese tourists traveled to Japan, up 83% from a year earlier.

The Japanese government has taken a number of steps to try to attract still more tourists, including easing visa restrictions and expanding the sales tax exemption for international visitors. Previously reserved for durable goods like cameras and rice cookers, as of last October it was broadened to include consumable products like cosmetics and sake.

In the run up to the 2020 Olympics in Tokyo, tourism officials are also stepping up efforts to make Japan easier for foreigners to navigate. In 2013 they persuaded the country’s three biggest banks to phase in automated teller machines that work with foreign bank cards.

Initial Drop in Tourist’s Arrival to France

France, world’s largest tourist destination remained unscathed by the terrorist attack in early January but number of visitors to its many tourist places was thinned after that, reports said.

French tourism officials couldn’t give figures of the number of sightseers in the immediate aftermath of the attacks, but visits by media personnel to major sites and interviews with vendors indicated an initial drop in visitors.

Among the tourists that were still braving visits, many took comfort in the extra security presence. With 10,500 troops deployed across the country, including 6,000 in the Paris region alone, the security operation put in motion after the attacks is the most extensive on French soil in recent history.

France is the most visited country in the world. Almost 85 million foreigners a year support a 150 billion euro industry that delivers seven per cent of the nation's GDP, according to government figures.

India Air Traffic Grows 10% in 2014

India’s airline regulator Directorate General of Civil Aviation (DGCA) said country’s domestic air traffic growth accelerated to nearly 10% in 2014 on the back of lower fares and introduction of new airlines.

Air passenger traffic grew 9.7% last year compared with 4.43% in 2013 when it had reversed the decline of 2012 that also marked the grounding of Kingfisher Airlines Ltd.

India’s scheduled airlines carried 67.73 million in 2014 compared with 61.42 million passengers in 2013 and 58.81 million in 2012 and 60.66 million in 2011, according to DGCA.

Air traffic in India grew at 20-40% for six years starting 2003, when low-fare airline Air Deccan was launched, making it possible for more people to travel by air.

 IndiGo ended 2014 with the biggest 31.8% market share while Jet Airways group was far off at 21.7% followed by Air India Ltd’s 18.4%, SpiceJet Ltd’s 17.4%, GoAir’s 9.2%, Air Costa’s 0.9% and AirAsia’s 0.5%.

Rajesh Exports Ltd Gets Rs 1780 Cr Order from UAE

Rajesh Exports Ltd, One of India’s largest jewellery exporter has bagged an export order worth Rs 1,780 crore for supply of designer range of gold and diamond studded jewellery and medallions from UAE-based Jamcelat Jewellery.

In a filing to BSE, the bengaluru based company said the order, which is to be completed by March 31, 2015, will add significantly to the bottom line.

This order will be executed at the company's manufacturing facility at Bengaluru, which is spread over 12 acres. The facility has an installed capacity to process 250 tonnes of jewellery per annum. REL also makes handmade jewellery blending with technology at this unit, the statement added.

The company's stock gained nearly 15 percent on the news on the BSE.

Strong Contingent to Represent India at Davos WEF

India will field a powerful contingent at the World Economic Forum (WEF) meeting in late January. Union ministers Arun Jaitley and Piyush Goyal along with over 100 top corporate leaders will attend the meeting in the Swiss ski resort town of Davos. Maharashtra chief minister Devendra Fadnavis and his Andhra Pradesh counterpart Chandra Babu Naidu will also attend the meet.

Jaitley is expected to address the WEF on how the new Indian leadership is transforming the business, political and social landscape of India. He will be also taking up with global leaders the near-term and long-term priorities of the BRICS block of emerging countries in the context of their trade and investment partnership.

In another session, Jaitley would participate in a discussion on how India as the world's most populous democracy will revive and accelerate economic modernisation, growth and job creation.

Power and coal minister Goyal will speak on how new business models are scaling energy decentralisation and emissions reduction apart from his other engagements.

Meeting against the backdrop of the world economy facing multiple challenges, the 45th edition of the WEF annual meet would discuss 'The New Global Context' as this year's theme.

Issues like terrorism are expected to be taken up in the wake of recent terror attacks in France and other countries.

Among Indian business leaders, those expected at the annual meeting of the rich and powerful from across the world include Tata Group chairman Cyrus Mistry, Reliance Industries Limited chairman Mukesh Ambani, ICICI Bank managing director (MD) and chief executive officer (CEO) Chanda Kochhar, Jet Airways chairman Naresh Goyal, Tata Consultancy Services MD and CEO N. Chandrasekaran and State Bank of India chairperson Arundhati Bhattacharya.

Other prominent persons include Bharat Forge's Baba Kalyani, Essar Group's Shashi and Ravi Ruia, and Infosys CEO Vishal Sikka, Wipro chairman Azim Premji and Bharti Enterprises chairman Sunil Mittal. The meet, which would start on January 20 and continue till January 24, will see more than 2,500 corporate and political leaders as also 40 heads of states and governments from across the world.

Air India to Cut Costs By Rs 14 Billion Next Fiscal

In an attempt to improve its finances, Air India is to cuts its costs by Rs 14 billion ($227 million), or about 6% of its total outlays, in the next financial year.

The airline said in a statement that it would identify "surplus staff", freeze contractual hiring and discontinue flights which are not meeting fuel cost targets, to reduce its variable spending of 140 billion rupees by a tenth.

Restrictions on staff travel and hospitality have also been introduced, Air India said.

Earlier, the state owned airliner was told by the government to improve its finances.

Air India, which controls close to a fifth of India's domestic air travel market, has been losing money for years and has long been criticised for its high costs. In 2012, the government handed the company a $5.8 billion bailout package.

All but one of the major carriers in India are losing money because of high operating costs and some of the lowest fare prices in the world amid intense competition.

Lenovo Launches India’s Cheapest 4G Smartphone

Lenovo Group Ltd. unveiled India’s most affordable 4G LTE smart phone, priced at Rs.6,999 as it looks to cash in on the booming demand for high-speed data services.

Chinese tech giant’s A6000 was unveiled at the CES in Las Vegas in early January.
The device has been aggressively priced to compete with Xiaomi’s Redmi Note 4G (Rs.9,999) and Yu’s maiden device—Yureka (Rs.8,999). LTE, is a standard for wireless communication of high-speed data for mobile phones and data terminals.

 “This is perhaps the most value for money LTE device in India; the A6000 promises the perfect balance of speed, performance and ergonomics. With 2015 expected to be the year of 4G LTE, we are committed to take on this new technology and give consumers the best performance,” Lenovo India director smart phones Sudhin Mathur told reporters.

 Lenovo has partnered homegrown eCommerce major Flipkart to sell the device exclusively. Following the flash sale model, consumers will have to pre-register to be eligible for the sale on 28 January. The company, however, did not disclose the number of devices that will be put up for sale in the first round.

 “According to reports, number of 3G and 4G users is estimated to be over 200 million by 2018 (in the country). That is a huge opportunity. The right picture can be provided by telecom operators, who are offering these services who are in discussions with operators (for bundling offers),” he said.

Bharti Airtel and Aircel have launched 4G services in a few cities in the country. However, Reliance Jio Infocomm, only company with a pan-India license, is yet to launch its services.

The Oberoi Mumbai Voted World’s Best Hotel

The Oberoi Mumbai has been voted as the best hotel in the world in a global poll conducted by a leading financial magazine, Institutional Investor, USA.

In the ‘2014 World’s Best Hotels’ poll, senior executives from 42 countries, who spent 50 nights or more a year at hotels last year were surveyed by Institutional Investor.

“It is for the first time that an Indian hotel has been ranked as World’s Best Hotel in this coveted global survey. In addition, The Oberoi, Mumbai is the only hotel from India to feature in this list,” Oberoi Group said in a statement.

‘The World’s Best Hotels’ is an annual survey listing the best hotels located at important financial and business capitals across the world,” it added.

Commenting on the development, P R S Oberoi, executive chairman, The Oberoi Group said, “The award is an affirmation of the hotel’s unwavering commitment towards offering guests world-class facilities and unsurpassed service.”

Oberoi Hotels & Resorts are synonymous the world over for providing the right blend of service, luxury and quiet efficiency. Internationally acclaimed for all-round excellence and unparalleled levels of service, Oberoi Hotels & Resorts have received innumerable awards and accolades.

Kerala Tourism Honoured At T&H Awards 2014

Kerala Tourism has won the ‘Most Outstanding Marketing Campaign Award’ at the Travel and Hospitality Awards 2014.

“We are honoured to receive the top award for interacting with the people in a creative and imaginary way to promote our state,” Tourism Minister A P Anilkumar said.

He said that the award would certainly help elevate Kerala’s status in the national and international tourism market.

“Kerala Tourism has followed unique marketing strategies such as the branding of Mumbai metro train and theme branding of the hop-on and hop-off boats and water taxis in Kochi,” Anilkumar said.

“We had also launched the Great Backwaters campaign in 2014 and won the ITB-Berlin’s Golden City Gate Gold Award which is called the Oscar of Tourism Communications,” the Minister said. 

Kerala Tourism director P I Sheikh Pareeth described the award as an “acknowledgement of the efforts in promoting the state’s destinations worldwide”.

“It is a recognition of Kerala’s tourism sector and an encouragement to excel further,” Pareeth said.

Kerala Tourism Deputy Director Rajkumar received the award at a ceremony attended by former Deputy Prime Minister L K Advani, Union Culture, Tourism and Civil Aviation Minister Mahesh Sharma, Union Tourism Secretary Lalit K Panwar, joint secretary Suman Billa and AG of India Mukul Rohatgi.

HS Brahma Appointed India's New CEC

Hari Shankar Brahma has been appointed as India’s19th Chief Election Commissioner. He replaced V S Sampath.

Addressing newsmen after assuming charge at Nirvachan Sadan, he said his priority and "mission objective" is to ensure free and fair conduct of Delhi Assembly polls.

He added that long-term goal at the Election Commission is to deliver excellence. On National Voters' Day on January 25, the EC will launch nationwide Electronic Roll Management System (ERMS), which will provide country-wide voters' list and enable the electorate to see their details.

He said the Commission will prepare the ground work for extending voting rights to NRI voters following Supreme Court directions.

The government will now set in motion the process to appoint an Election Commissioner to fill a vacancy in the three-member body

Indian Tourists to US to Cross 1 Million Mark In 2015

‘Brand USA’, a public-private tourism organization said Indian tourists visiting the US will cross the one million mark for the first time this year.

Christopher L Thompson, president and CEO of ‘Brand USA’, said the visit of President Barack Obama to India later in January will increase the inflow of tourists in coming years.

He said, “We view India as top five emerging markets as a potential to hit the goal of having 100 million international travellers by 2021. The presidential visit to India later this month, would give a big boost to Brand USA and help in increasing the number of Indian travellers to the US.”

‘Brand USA’ is the public-private partnership responsible for launching America’s first-ever nationally coordinated tourism marketing effort. In 2014, nearly 9,00,000 Indian tourists travelled to the US which he estimated would easily cross the million mark in 2015 and by 2021, the US hopes to have more than 1.5 million visitors from India every year.

“On an average, international travellers spend $ 4,500 per visit but Indians spend more between $5,000 to $6,000 per visitors. It could be even more than that. The spending per visitor from India is higher than the average,” Thompson said, adding that Indian tourists have much greater impact on the American economy than those from other international travellers.

The top 10 travel destination for Indians are New York, California, Hawaii, Florida, Washington, Texas, New Jersey, Alaska, Virginia and Michigan.

‘Brand USA’ is now planning to promote new travel and tourist destinations for Indians. For instance the South Carolina Governor, Nikki Haley, during her recent trip to India had promoted her State as a travel and tourist destinations for Indians, he said.

According to latest available figures, Indian tourists ranked 10th in international-tourist spending in the US during 2013. This $5.6 billion in spending by Indian tourists was an increase of 14 per cent over the previous year.

A recent ‘Brand USA’ study said that outbound travellers from India are informed, sophisticated and educated and they are increasingly looking for rich, authentic experiences during their trips. Niche-travel products are gaining popularity, especially in the luxury market. Prime interests for Indian travellers include sightseeing, nightlife and entertainment, theme parks, beaches and water sports, and shopping. They also have a high demand for adventure and outdoor experiences.

Thompson said there is a huge potential for Indian travellers coming to the US. In three major emerging markets– India, China and Brazil– he said the US is taking steps to ease the visa process. “The good thing for India is that people here have got 10 years visa validity,” he said adding that visa wait period has reduced considerably now in the emerging markets.

Modi Promises ‘Top Speed” Reforms

Reassuring global investors, Indian Prime Minister Narendra Modi promised reforms "at top speed" with positive regulatory framework, tax stability and boost to infrastructure to help take the economy to $ 20 trillion from $ 2 trillion.

Addressing Economic Times Global Business Summit in New Delhi, he said the government will change rules, reform tax system and target subsidies to the needy.

Asserting that development has to result in jobs, the PM said a positive regulatory framework, tax stability and ease of doing business are being pushed ahead at top speed.

"We are cutting down on multiple clearances that choke investment. Our complex tax system is crying for reform which we have initiated. I believe in speed, I will push through change at a fast pace. You will appreciate this in times to come” Modi said.

Maintaining that improvement in governance is a continuous process, Modi said government was making changes wherever as rules and procedures were not in tune with the needs.

After two back-to-back years of below 5 per cent growth, governance at rock-bottom and a series of scam, the transition of the New Age India has begun, he said.

Restoring growth momentum will be an uphill task. It will take hard work, sustained commitment and strong administrative action. But we can overcome the mood of despair," he said.

Stating that transparency and efficiency in governance and institutional reforms are essential elements for rapid growth, he said the government was "moving fast in designing policies and laws to promote growth".

Infrastructure, he said, is being given a boost and "new approaches and instruments are being put in place" to attract greater investment in sectors like railways and roads.

Outlining his agenda, Modi said fiscal deficit targets will not be breached, inflation will be controlled through firm measures, GST will be implemented and schemes like Jan Dhan Yojana will be pursued to get poor included in the financial system and the rupee will be made more productive.

A massive national programme for computerisation of public distribution system (PDS), right from FCI godwons to ration shops and consumers, will be launched, he said, adding subsidises are needed for poor and there was a need to cut subsidy leakages.

Ashok Leyland Plans Electric Bus ‘Versa’ By 2017

Ashok Leyland plans to launch a fully electric bus 'Versa' in India by 2017.

The 36-seater bus, which is being showcased at the 4th Bus and Special Vehicle Show here, can go 90 miles in one charge and is a zero emissions vehicle.

Ashok Leyland Vice President, Buses, T Venkataraman said "Depending upon the regulations, we expect to launch this vehicle in the country in the next two years,".

The vehicle comes as a completely built unit (CBU) from the Hinduja flagship firm’s UK based arm Optare.

Elaborating on the features of the bus, Venkataraman said the bus emits zero noise and consumes just one unit of electricity for covering a distance of one kilometer.

"With increased awareness and sensitivity around environment safety and carbon footprints, the timing for the introduction of an electric bus is optimal. Versa is ideally placed to help deliver on our government's commitment to make urban transport efficient and reduce our country's carbon footprint," Venkataraman said.

The company is one of the largest providers of electric and hybrid buses in the world and this electric vehicle would help India move up the path of "efficient, comfortable, responsible and sustainable urban transport", he added.

In a move to boost electric vehicles sales in the country, the Indian government has earmarked Rs 1,000 crore for the National Electric Mobility Mission Plan for the next two financial years.

Reliance Industries Ltd Q3 Profit dips 4.5% to Rs 5256 cr

India’s multinational conglomerate, Reliance Industries Ltd announced that its profit after tax was lower by 4.5 per cent at Rs 5,256 crore as against Rs 5,502 crore in the corresponding period of the previous year.

RIL achieved a turnover of Rs 96,330 crore ($ 15.3 billion) for the quarter ended 31st December 2014, a decrease of 20.4 per cent, as compared to Rs 121,077 crore in the corresponding period of the previous year.

Sharp Year on-Year fall in benchmark oil price of 30% was the key factor for the decline in revenue. Exports from India were lower by 21.5% at Rs 58,507 crore ($ 9.3 billion) as against Rs 74,495 crore in the corresponding period of the previous year.

Mukesh Ambani, Chairman and Managing Director, Reliance Industries Limited said: "Our focus on operational efficiency and the superior configuration of assets helped us deliver an industry-leading performance in the refining and petrochemicals business despite sharp decline in crude and feedstock prices."

"We continued to advance our refining and petrochemicals business capital investments, which will come to fruition over the next 4-6 quarters. These investments demonstrate our commitment to creating value through the business cycle," he added.

During the quarter, Reliance Retail registered Y-o-Y growth of 19% in turnover with improved margins and profitability. The quarter witnessed heightened volatility across the hydrocarbon business.

Benchmark crude oil prices declined by around 40% through the quarter, with consequent impact on petrochemical feedstock and product prices. While headline deltas were strong, declining feedstock prices impacted buying sentiment across product categories.

Downstream converters ran down inventories, operating at minimal stock levels. RIL, in line with its operating strategy, aggressively sold down stocks to maintain optimal levels of inventory, which impacted realised deltas and margins for products. This coupled with lower holding value of closing-stock impacted performance of refining and petrochemicals businesses.  

Airbus Launches A321 Neo Long Range Version

Airbus has formally launched a long range version of the A321 with a 97-ton maximum take-off weight (MTOW).

First deliveries of the new Airbus A321neo version are planned for 2019. The aircraft will be equipped with a third auxiliary center fuel tank and could fly around 500-nm farther than the A321ceo with a regular 93.5 MTOW (and only two additional fuel tanks).

For the aircraft, Airbus now assumes a standard cabin layout for 206 passengers. Airbus claims the calculated 4,000-nm range even exceeds the 3,850 nm of the winglet-equipped Boeing 757-200W.

Airbus initially pitched the aircraft to airlines in a premium 164-seat layout with 20 seats in business class, 30 in premium-economy class, and 114 in economy. But discussions with potential customers showed that many airlines are interested in higher seat counts. In the premium configuration, the A321neo LR range decreases slightly to 3,904 nm because of extreme assumptions in terms of weight per passenger.

Airbus is targeting airlines that currently fly the Boeing 757 on long-range routes, as well those that would fly such routes but cannot for lack of a suitable aircraft. Key routes defining the aircraft’s needed capabilities were U.S. East Coast to Central Europe, Europe to the Middle East, North to South America, Europe to West Africa, and Australia to South Asia.