Jet fuel turns costlier

New Delhi, Jan. 3: The national oil companies have raised jet fuel prices for domestic airlines by 4.4 per cent from January 1. The price of jet fuel for domestic airlines has been raised from Rs 41,492.08 per kilolitre to Rs 43,127.99 in Calcutta. In Delhi the price has been raised to Rs 37,746.92 per kilolitre. The increase in prices is expected to bring the struggling airlines under further financial strain and they may consider raising fares to cover up the gap. A spokesperson for Indian said, “Most airlines will be looking at the pricing situation and then take a decision. We will not decide in a hurry.”

Jute strike

Calcutta, Jan. 3: A marathon four-and-half hour tripartite meeting held today to avert an indefinite strike in jute industry from January 5 ended inconclusively. The labour minister Mrinal Banerjee, however, has decided to make a last ditch effort on Thursday to reach a settlement over a 14-point charter of demand of various trade unions.

Tesco tieup

New Delhi, Jan. 3: Amid the rush for retail business among Indian companies, speculation mounted today that the Tatas are talking to British retail major Tesco for a tie-up. However, a Tata spokesperson said the reports were unfounded.

Assocham

New Delhi, Jan. 3: Assocham has sought a 2 per cent reduction in excise duty to 14 per cent in the 2007-08 budget to boost manufacturing in the country. In its pre-budget memorandum submitted to the finance minister, the chamber urged reduction in excise duty to 14 per cent.

Steel prices

New Delhi, Jan. 3: The government today ruled out any interference in the price fixation of steel products by companies, but said it wanted greater “transparency” to protect interests of small consumers. The steel ministry’s price monitoring committee assured steel producers there was no plan to regulate prices.

Videocon

Seoul, Jan. 3: A deal to sell Daewoo Electronics to a consortium led by Videocon Industries is in jeopardy because of differences over pricing, creditors said today.