UB

  • Congress hits out at BJP MLA for watching Priyanka Gandhi's photos in Karnataka Assembly 1 week ago

    Bengaluru: In an embarrassment to the Bharatiya Janata Party, party MLA Prabhu Chavan was caught on camera watching a zoomed in photo of Priyanka Gandhi on his mobile phone in the Karnataka Assembly. Another MLA UB Banakar can also be seen playing video games during proceedings of the Legislative Assembly....
  • Karnataka: Congress MLA booked for attacking cops at an upscale pub July 2, 2014

    Bangalore: A Congress MLA has allegedly attacked police constables at an upscale pub in Bangalore on Tuesday night. Vijayananda Kashappanavar, MLA from Hunagund had gone to an elite pub at UB City for his birthday. MLA and his friends allegedly forced the pub staff to serve them liquor and play...
  • Congress workers oppose Nilekani's candidature January 16, 2014

    Bangalore: It may not be all smooth sailing for Infosys cofounder and UIDAI Chairman Nandan Nilekani, who last week made his intention to contest the Lok Sabha elections clear. He has competition in his own backyard. Some MLAs and block presidents of the Congress from the Bangalore South constituency have suggested...
  • UBS cuts India to 'neutral', upgrades China on reforms November 18, 2013

    UBS downgrades India to "neutral" from "overweight" and upgrades China to "overweight", saying Plenum reforms will likely cause China to outperform Asia exJapan for the next few months. "We still like India our thesis of weak capex equals higher return on capital still holds. But it is a longerterm theme...
  • Vijay Mallya blames all but himself for Kingfisher woes September 3, 2013

    Mumbai: Kingfisher Airlines Chairman Vijay Mallya has blamed almost everyone, including engine suppliers, employees, banks and tax authorities, for grounding of the carrier since October last year. In the airline's annual report (2012-13), he also mentions that the company is in talks with a "potential investor". United Breweries (Holdings) Ltd, the...
  • Cabinet likely to take up IOC disinvestment proposal at the CCEA on Thursday July 24, 2013

    New Delhi: The Cabinet, on Thursday, is likely to consider the proposal for sale of 10 per cent of government's stake in Indian Oil Corporation (IOC), which may fetch over Rs 4,300 crore to the exchequer at the current market price. "IOC disinvestment proposal is likely to come up for consideration...
  • Swiss bank UBS to exit banking business in India: Source June 22, 2013

    Mumbai: Swiss bank UBS AG will surrender its Indian banking license and close its banking unit, covering fixed income, forex operations and credit services, a source with direct knowledge of the matter said on Saturday. However, UBS will continue its corporate client service business, which includes mergers and acquisitions, equities...
  • Kingfisher Airlines submits plan to restart operations April 11, 2013

    New Delhi: Grounded Kingfisher Airlines submitted a plan to the Director General of Civil Aviation (DGCA) to restart operations, saying its parent group would provide initial funding and asking for its flying licence to be renewed. Kingfisher, controlled by liquor tycoon Vijay Mallya, who also owns UB Group, was forced...
  • Salman fails to appear before court in hitandrun case March 25, 2013

    Mumbai: Bollywood actor Salman Khan, who had to appear on Monday before the Sessions Court has failed to appear before the court in the 2002 hitandrun case. The case came up for the first time before the Sessions Court after a Magistrate transferred the matter to that Court by charging...
  • Salman likely to appear in Court in hitandrun case March 25, 2013

    Mumbai: Bollywood actor Salman Khan is all set to appear in person before a Sessions Court in Mumbai in the 2002 hitandrun case on March 25, 2013. He has arrived from the USA on Saturday night and is likely to appear before the Court on Monday, sources close to the...
  • UB Group in talks with KFA lenders to cut debt February 15, 2013

    New Delhi: UB Group, the parent of debtladen Kingfisher Airlines, said it was in talks with lenders to the carrier to cut their exposure by using proceeds from a stake sale in a group company to Diageo Plc. The statement comes days after lenders to Kingfisher said they would move...
  • Kingfisher Airlines loses Rs 755 crore in Q3 as planes sit idle February 5, 2013

    Mumbai: Debtridden and with no customers, Kingfisher Airlines Ltd posted a Rs 755 crore loss in the three months to December 31 as its planes sat idle, creditors circled and regulators rebuffed the Indian airline's revival plans. Kingfisher, which has been stripped of its flying licence, owes an estimated $2.5...
  • UBS upgrades Maruti Suzuki India to 'buy' January 28, 2013

    Mumbai: UBS upgraded its ratings on Maruti Suzuki India Ltd to "buy" from "neutral," and raised its price target to Rs 2,000 from Rs 1,500, noting the weakening Japanese yen over the past three months would boost earnings. Maruti Suzuki is also well positioned to benefit from improvements in petrol car...
  • Kingfisher licence to be renewed if revival plan okayed: DGCA sources December 31, 2012

    New Delhi: In fresh ray of hope for the Kingfisher Airlines, sources in the aviation regulator, the Directorate General of Civil Aviation (DGCA), said that the licence of the cashstrapped carrier would be renewed if its revival plan gets a goahead. According to the sources, the DGCA asked the airlines for...
  • Kingfisher revival plan lacks clear funding proposal December 26, 2012

    New Delhi: A revival plan submitted to the aviation regulator by grounded carrier Kingfisher is not backed by a clear funding proposal, the aviation minister said on December 26. Kingfisher, which has not flown since October, has estimated debts of $2.5 billion and owes money to banks, airports, tax authorities, plane...
  • UBS admits fraud in $1.5 billion Libor rigging December 19, 2012

    Zurich: Swiss bank UBS swallowed a $1.5 billion fine and admitted to fraud on Wednesday after a global probe revealed its staff orchestrated the manipulation of benchmark interest rates over three continents. UBS traders colluded with brokers to rig the Libor rate, which is used to price trillions of dollars...
  • Indian outsourcing failure blamed for $2.3 bn loss by UBS trader November 27, 2012

    London/Zurich: Key controls for "detection of suspicious trading activity" failed at an India outsourcing unit, contributing to $ 2.3billion loss caused by a rogue trader of global banking giant UBS, a joint probe by British and Swiss regulators has found. This is the third instance when outsourcing of key oversight...
  • Randhawa climbs to 13th in Hong Kong Open November 17, 2012

    Hong Kong: Jyoti Randhawa, the lone Indian to make the cut, rode on the wings of an eagle to make a smart move on the third day of the USD 2 million UBS Hong Kong Open here on Saturday. Randhawa (67) moved to fiveunder 205 and tied 13th, up from...
  • Bhullar looks to seal Order of Merit in Hong Kong November 13, 2012

    Hong Kong: India's Gaganjeet Bhullar believes he can produce another standout performance that will see him become the next Indian to win the Asian Tour Order of Merit when the UBS Hong Kong Open golf tees off Thursday. Bhullar, who has already won two Asian Tour titles this season,...
  • News 360: Arvind Kejriwal targets corporate czars, Congress MP November 9, 2012

    Activistturnedpolitician Arvind Kejriwal on Friday alleged that Rs 6,000 crore in black money was stashed away in 700 HSBC accounts in Geneva, Switzerland. ...
  • Diageo to acquire 53.4 pc in Mallya's United Spirits November 9, 2012

    New Delhi: Vijay Mallya owned United Breweries on Friday signed a $2 billion deal with Diageo group and sold controlling stake of 53.4 per cent in United Spirits Limited (USL). Announcing the deal, Mallya said, "The cash infusion will help USL deleverage itself. It is a winwin situation for both...
  • UB Group records Rs 34.2 cr secondquarter profit November 9, 2012

    Mumbai: United Breweries Ltd on Friday posted a net profit of Rs 34.2 crore for the second quarter ended September 30, as against Rs 19.5 crore in the yearago period. The revenue of the company, part of Vijay Mallyaled UB Group, also rose to Rs 875 crore in the same...
  • Diageo to buy stake in Mallya's USL for $ 1 bn November 9, 2012

    New Delhi: Vijay Mallyaowned United Breweries has reached a deal with the world's largest producer of spirits Diageo and the deal close to a billion dollars is expected to be announced on Friday. Diageo is likely to take the management control post the deal, while Mallya will continue to remain...
  • USL stake sale: UB Group, Diageo reach agreement November 8, 2012

    New Delhi: The UB Group and Diageo have finally agreed to sign a termsheet for the United Spirits Limited stake sale on Friday. Sources say that Diageo will likely take management control of the USL. However, Vijay Mallya will remain the chairman of the USL, post the UB GroupDiageo deal. The...
  • Mallya will not sell 'family silver' for Kingfisher October 28, 2012

    Greater Noida: Liquor baron Vijay Mallya does not have to do a deal with UK drinks giant Diageo and will not sell prized assets to rescue his grounded Kingfisher airline, he told Reuters at the weekend. Speaking in his office at Force India, the Formula One team he coowns, the...
  • UB Group will fund Kingfisher' revival: Sources October 26, 2012

    New Delhi: In the latest twist to the Kingfisher Airlines crisis, sources on Friday said that the money to revive the cashstrapped airline will come from Vijay Mallya's UB Group as there is no investor available in the near term. Kingfisher CEO Sanjay Aggarwal met the Directorate General of Civil...
  • Management control, competition norms hit USLDiageo deal October 23, 2012

    New Delhi: Vijay Mallya's quest to raise funds seems to have hit a speed breaker. Sources say that the United Spirits Limitedglobal spirits company Diageo deal has hit a roadblock over issues related to management control. According to sources there are two important issues that have to be clarified. First, about...
  • Kingfisher Airlines: What brought it down October 22, 2012

    New Delhi: So how exactly was Kingfisher Airlines killed? The airline company was Chairman Vijay Mallya's muse. He chose to run it himself, even deciding to interview air hostesses, pilots and other staff members himself. So did this obsession lead to the company's decline? Apart from Mallya, few others were...
  • UB beer unit operating without clearance: Govt October 20, 2012

    Bangalore: The Karnataka government on Saturday said it has instructed the State Pollution Control Board to take action against United Breweries which was found to run its beer production unit at Nanjanagud in Mysore district without operational clearance by the Board. Ecology and Environment Minister Sogadu Shivanna, who visited the unit...
  • Mallya's UB Group management to meet KFA employees October 17, 2012

    New Delhi: With no end in sight to the 16day impasse over a lockout and strike by its workers, Kingfisher Airlines management will be meeting with their representatives on Wednesday in a lastditch effort to convince them to return to work. The meeting, scheduled in Mumbai, is likely to be...