High taxes on the jet fuel, which goes up as high as 40 per cent in some states, coupled with higher airport charges in the form of user development and airport development fee, which have cascading effect on the air fares, have had a negative impact on the domestic passenger demand in India.
The Karnataka High Court has rejected a petition by Vijay Mallya-led Kingfisher Airlines Limited challenging the move by a consortium of banks to take possession of its Kingfisher House property in Mumbai to realise part of the debts due to them from the airlines.
The high court court on Thursday accepted Nokia's appeal to release its local factory after its seizure by authorities in a tax dispute, removing a hurdle for the sale of the company's mobile phone business to Microsoft.
Traders said profit-selling by stockists at existing higher levels amid a weak global trend as congressional negotiators reached a US budget agreement, curbing the appeal of the metal as a safe haven, mainly influenced gold prices.
The poll predicts a better performance than this year's 9 per cent increase but far more modest than the 25 per cent surge in 2012 when foreign investors bought a massive $24.4 billion worth of Indian stocks.
Microsoft is lucky to dodge Nokia's tax bill in India. On Dec. 12, the Delhi High Court allowed the Finnish group to transfer its Chennai factory to the U.S. software giant as part of its planned $7.4 billion sale of its mobile handset business.
India scored a remarkable win on food security, but trade partners will now put pressure on New Delhi to provide meaningful openings for industrial goods and services and be more accommodative on liberalising tariffs.
Property prices in Mumbai and Delhi NCR, among India's top realty markets, marginally rose in the third quarter of 2013 mainly due to lack of new launches and cautious sentiment in the sector, a survey said.