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Written by ANI
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Wednesday, 22 October 2008 |
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New Delhi, Oct 22 (ANI): Civil Aviation Minister Praful Patel today said that India's airline companies are to repay upto 28 billion rupees outstanding aviation fuel dues to state-run refineries by March 2009 in six monthly installments. Talking to reporters after meeting with Petroleum and Natural Gas Minister Murli Deora, Patel said that oil firms have agreed to raise the credit period for local carriers to 90 days from 60 days, and refineries would revise jet fuel prices every 15 days instead of 30 days. "Cumulatively all the oil companies have an outstanding towards all the airlines of close to about 2500-2800 crores depending on the latest figures. The airlines in view of the difficulties have expressed that this outstanding shall be cleared by them in six monthly installments," he added. Patel said that the industry is lobbying hard to pressurize the government to reduce the Aviation Turbine Fuel (ATF). Patel said he has been urging the Gvernment to reduce taxes on ATF. "I have conveyed it to the finance ministry, I have met Chidambaram and we have had a word about the taxes imposed on the aviation sector. The ATF is high and is imposed by the states also apart from what the centre imposes. It is high time that we reduce the tax and rationalize it. This demand is not new, I myself have been pressing for it for four years now," said Patel. Shares of the top carrier Jet Airways rose 2.7 percent to 235 rupees, while the Kingfisher Airlines climbed 3.5 percent to 42.5 rupees after the minister's comments. But state-run oil firms such as the Indian Oil Corp, the Bharat Petroleum Corp and the Hindustan Petroleum Corp were down 2-7 percent. The Indian aviation industry, which has combined revenue of six billion dollars, is expected to lose two billion dollars in the current financial year. After witnessing second fastest growth in the civil aviation world, the Indian aviation industry has hit a huge air pocket and is going through turbulence. By 2008, the industry had 20-25 per cent excess capacity that too concentrated mainly on trunk routes. Most of the airlines were recovering only 60 per cent of the actual cost of flying each passenger, which further got aggravated due to sharp hike in fuel prices. (ANI)
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Last Updated ( Wednesday, 22 October 2008 )
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Written by ANI
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Wednesday, 19 November 2008 |
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Indore, Nov.19 (ANI): Former Sri Lankan Test player and match referee for the ongoing one-day series between India and England, Roshan Mahanama has let off England pacer Stuart Broad with a warning, after the latter escaped a fine for losing his cool in England's second one-day defeat here. Mahanama summoned Broad after the umpires reported him for "borderline dissent" during Monday's 54-run loss in Indore. Broad, 22, escaped a fine because Mahanama decided a firm word would suffice. The England star reacted angrily when umpire Russell Tiffin turned down an lbw appeal against Rohit Sharma. The Sun quoted Mahanama as saying: "As he is a young lad, I felt it best to speak to him and nip it in the bud. We encourage players to work with the umpires and ask them to explain decisions rather than have them react that way." Broad admitted: "It was just a talking to, nothing more than that Ironically, Broad's dad, Chris, an ex-England opening batsman, is one of the ICC's hardest-line referees. And, asked what percentage of his match fee dad would have docked, Stuart replied: "Probably the whole lot!" (ANI)
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Last Updated ( Wednesday, 19 November 2008 )
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Written by ANI
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Wednesday, 19 November 2008 |
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Washington, Nov 19 (ANI): Sportspeople, who are sponsored by the alcohol industry, are more likely to engage in binge drinking than those with no alcohol sponsors, according to a new study. This is due to the fact that apart from sponsoring payment of competition fees and the supply of sports kit, almost half of the sponsorship deals included free or discounted alcohol for sporting functions and post-match celebrations. "Alcohol consumption is a leading cause of mortality, responsible for 9.2pct of the disease burden in developed countries," said the study's author, Dr Kerry O'Brien, who is based in Manchester's School of Psychological Sciences. "Heavy episodic drinking is particularly harmful. It is common among sportspeople and is associated with other risky behaviour, such as drink-driving, unprotected sex and antisocial behaviour," O'Brien added. The research team from The University of Manchester and the University of Newcastle in Australia quizzed nearly 1,300 sportspeople and found alcohol-related companies sponsored almost half of them. "Sportspeople receiving direct alcohol-industry sponsorship of any kind, including payment of competition fees, costs for uniforms and the provision of alcoholic beverages, reported more hazardous drinking than those not receiving sponsorship," said O'Brien. "Similarly, those receiving free or discounted drinks from sponsors and those sportspeople that felt they were required to drink their sponsor's alcohol product at their establishments reported even higher levels of drinking," he added. The research, say the authors, raises serious ethical issues for sports administrators concerned with the health of sportspeople. "We suggest that health and governmental organisations need to work with sporting organisations and clubs to find ways to sever links with the alcohol industry, while still ensuring sports groups have sufficient financial support," O'Brien added. (ANI)
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Last Updated ( Wednesday, 19 November 2008 )
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Written by ANI
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Wednesday, 19 November 2008 |
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New York, Nov 19 (ANI): Pop star Justin Timberlake has released a new single 'Follow My Lead' as a fundraiser for Shriners Hospitals for Children, an organization dedicated to improving specialized paediatric care. The track is available for streaming and download exclusively through MySpace - and all proceeds will go to help sick kids, reports the New York Daily News. The song features vocals by Esmee Denters, the first artist signed on Timberlake's label Tennman Records. The tune, which sells for 99 cents, was recorded at the recent "Justin Timberlake and Friends" concert in Las Vegas. That October show packed a power line-up of Timberlake's musical 'friends' including 50 Cent, Maroon 5's Adam Levine, Boyz II Men, Lionel Richie, Rihanna, The Jonas Brothers and Wll.i.am. (ANI)
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Last Updated ( Wednesday, 19 November 2008 )
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Written by ANI
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Wednesday, 19 November 2008 |
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London, Nov 19 (ANI): Russia is planning to raise a shipwreck that contains Catherine the Great's treasures like precious porcelain, gold, silver, bronze and Dutch paintings. According to a report in the Telegraph, the Frau Maria, which sank in 1771, was commissioned by Catherine the Great to transport precious porcelain, gold, silver, bronze and 27 paintings by Dutch masters for her art collection, which became the basis for the Hermitage museum in St. Petersburg. But, the ship was struck by a storm in October 1771 and sank 41 metres (135 feet) off the coast of what was then Sweden, according to Artem Tarasov, head of the Rescue of National Cultural and Historic Valuables fund. Tarasov said that the project would take two years. "We would like to say that within two years all necessary measures will be taken and in 2010 we will be able to finally see what secrets this ship holds," he said. There is still hope that the paintings have not been ruined. Catherine herself sent off several expeditions in vain efforts to raise the schooner, which may indicate that the paintings, whose total cost could be up to 100 million euros, were packed into leaden boxes sealed with wax and could yet be salvaged, according to Tarasov. Experts from Russia, Sweden, Finland and the Netherlands determined that soft ropes would be slipped beneath the well-preserved schooner, which would then be brought to dry dock to avoid unnecessary danger during the treasure hunt. According to Hermitage deputy director Georgy Vilinbakhov, the museum was ready to welcome the precious cargo, which would arrive nearly 240 years late. "We will work throughout 2009 to understand what we may face if that cargo is found and there is something to restore," he said. (ANI)
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Last Updated ( Wednesday, 19 November 2008 )
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