Ub

  • Congress workers oppose Nilekani's candidature 16-01-2014 04:15 PM

    Bangalore: It may not be all smooth sailing for Infosys co-founder 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...
  • UBS cuts India to 'neutral', upgrades China on reforms 18-11-2013 03:47 PM

    UBS downgrades India to "neutral" from "overweight" and upgrades China to "overweight", saying Plenum reforms will likely cause China to outperform Asia ex-Japan 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 longer-term...
  • Vijay Mallya blames all but himself for Kingfisher woes 03-09-2013 12:11 AM

    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,...
  • Cabinet likely to take up IOC disinvestment proposal at the CCEA on Thursday 24-07-2013 02:55 PM

    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...
  • Swiss bank UBS to exit banking business in India: Source 22-06-2013 06:47 PM

    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 11-04-2013 08:13 AM

    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 hit-and-run case 25-03-2013 01:10 PM

    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 hit-and-run 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 hit-and-run case 25-03-2013 06:36 AM

    Mumbai: Bollywood actor Salman Khan is all set to appear in person before a Sessions Court in Mumbai in the 2002 hit-and-run 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...
  • UBS admits fraud in $1.5 billion Libor rigging 19-12-2012 05:55 PM

    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 27-11-2012 10:51 AM

    London/Zurich: Key controls for "detection of suspicious trading activity" failed at an India outsourcing unit, contributing to $ 2.3-billion 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 17-11-2012 07:31 PM

    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 five-under 205 and tied 13th, up from...
  • Bhullar looks to seal Order of Merit in Hong Kong 13-11-2012 04:40 PM

    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, is...
  • News 360: Arvind Kejriwal targets corporate czars, Congress MP 09-11-2012 10:23 PM

    Activist-turned-politician 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 09-11-2012 02:30 PM

    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 de-leverage itself. It is a win-win situation for both...
  • UB Group records Rs 34.2 cr second-quarter profit 09-11-2012 09:40 AM

    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 year-ago period. The revenue of the company, part of Vijay Mallya-led UB Group, also rose to Rs 875 crore in the same...
  • Diageo to buy stake in Mallya's USL for $ 1 bn 09-11-2012 09:00 AM

    New Delhi: Vijay Mallya-owned 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 08-11-2012 08:21 PM

    New Delhi: The UB Group and Diageo have finally agreed to sign a term-sheet 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 Group-Diageo deal....
  • Mallya will not sell 'family silver' for Kingfisher 28-10-2012 06:12 PM

    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 co-owns, the...
  • UB Group will fund Kingfisher' revival: Sources 26-10-2012 02:16 PM

    New Delhi: In the latest twist to the Kingfisher Airlines crisis, sources on Friday said that the money to revive the cash-strapped 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 USL-Diageo deal 23-10-2012 09:20 PM

    New Delhi: Vijay Mallya's quest to raise funds seems to have hit a speed breaker. Sources say that the United Spirits Limited-global 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,...
  • Kingfisher Airlines: What brought it down 22-10-2012 09:17 PM

    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...
  • Kingfisher Airlines denies reports of lay-offs 04-01-2012 06:16 PM

    New Delhi: In a major cost-cutting exercise, private sector air-carrier Kingfisher Airlines is believed to be considering about 2,000 job cuts and longer working hours for its staff, among various options. Kingfisher later issued a statement saying, "Kingfisher Airlines categorically denies news reports appearing in a section of the press...
  • Kingfisher to get $ 47 mn loan from Sahara: report 18-12-2011 08:10 AM

    Mumbai: The Sahara group will give a loan of more than 2.5 billion rupees to cash-strapped Kingfisher Airlines, to help the carrier continue operations, the media reported on Saturday, citing sources. Kingfisher, India's third largest airline by market share, has been struggling to raise funds to continue operations and repay...