APAI questions 'non-existent' low fares offered by airlines

Mumbai - Apex air travellers body, Air Passengers Association of India (APAI) on Sunday questioned the frequent "special fare" offers by domestic carriers and termed them as "non-existent", even as it urged the DGCA not to allow such schemes.

The association, in a communication to the Directorate General of Civil Aviation, also sought to know as to what action the regulator intends to take against the carriers on the issue.

"We strongly believe that the DGCA must put an end to this practice of offering ridiculously low fares which are non-existent and are not really available to the passenger," APAI President D Sidhakara Reddy said in his communication to DGCA Prabhat Kumar.

Black money: Assocham against govt disclosing names

New Delhi - Amid a growing clamour for naming of alleged black money holders, industry body Assocham Sunday said the government should not prematurely disclose the names of such persons as it could hamper battle against this menace.

"The double taxation avoidance treaties are important for the Indian residents and corporates which can avoid paying taxes twice. Revealing the names of individuals allegedly holding unaccounted money can make to headlines but will surely make India's battle against the menace weak. Besides, violation of DTATs will deal a severe blow to the country's credibility," it said in a statement.

MF investments in IT stocks hit all-time high in Sept

Mutual fundNew Delhi: The mutual fund industry is betting big on software companies as its equity exposure to the sector climbed to a fresh all-time high of around Rs 32,000 crore at the end of September.

This also marks the fourth consecutive rise in mutual fund (MF) industry's exposure to software stocks.

Mutual fund is an investment vehicle that is made up of a pool of funds collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments and similar assets.

Ocean plays crucial role in regulating Earth's climate: Study

Washington, Oct 26 - A new study has revealed that circulation of the ocean plays an equally important role in regulating the earth's climate.

According to the study, say the major cooling of Earth and continental ice build-up in the Northern Hemisphere 2.7 million years ago coincided with a shift in the circulation of the ocean - which pulls in heat and carbon dioxide in the Atlantic and moves them through the deep ocean from north to south until it's released in the Pacific.

Air India evaluating leasing fuel-efficient airplanes

Air IndiaNew Delhi: Aiming at taking growing competition head-on, Air India is evaluating leasing fuel- efficient airplanes like Airbus A-320 neos for itself and Boeing 737 Max for its subsidiary Air India Express over the next three to six years.

While the national carrier would be getting its 18th Boeing 787 Dreamliners in December, it has already started exploring options to lease A-320 neos (New Engine Option) aircraft into its fleet after 2017.

Airline officials said they were looking at leasing the neos by 2017 onwards.

Barca suffer first defeat of La Liga season to Real in El Clasico

luis suarezLondon, Oct - Barcelona's winning streak ended on their visit to the Bernabeu as they lost to their archrivals Real Madrid in their La Liga El Clasico on Saturday.

Uruguay striker Luis Suarez started for Barca after a four-month ban for biting and his impact was immediate as he set up Neymar to arrow in the opener just four minutes into the game.

However, Barca's star forward Lionel Messi spurned a glorious chance before Real forward Cristiano Ronaldo equalised with a penalty in the 35th minute, The BBC reported.

Pepe's powerful header put Real ahead before they added to their lead when Karim Benzema finished a brilliant counter-attack with an angled shot in the 61st minute.

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