Air India bidders need to absorb $3.3 bn debt to buy carrier

News Network
January 27, 2020

Jan 27: Bidders for Air India Ltd. will need to absorb $3.26 billion of its debt, as Prime Minister Narendra Modi’s administration tries once again to sell the national carrier.

The entire company will be sold but effective control needs to stay with Indian nationals, according to preliminary terms published Monday. Bids are invited by March 17 with Ernst & Young LLP India as transaction adviser.

Air India, which started in 1932 as a mail carrier before winning commercial popularity, saw its fortunes fade with the emergence of cutthroat low-cost competition. The state-run airline has been unprofitable for over a decade and is saddled with more than $8 billion in debt.

Indian regulations allow a foreign airline to buy as much as 49% of a local carrier, while overseas investors other than airlines can buy an entire carrier. The government didn’t find a single bidder when it tried to sell Air India in 2018.

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News Network
September 16,2024

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Mangaluru: Police have arrested five miscreants belonging to saffron outfits for pelting stones at a masjid at Katipalla near Surathkal on the outskirts of the city last night. 

The arrested have been identified as Bharat, Chennappa, Nitin, Manu and Sujit all residents of Surathkal and surrounding areas. Among them, Bharat is said to be a rowdy sheeter. 

The miscreants, who came on two motorbikes late on Sunday night, pelted stones at Masjidul Huda, located at 3rd block of Katipalla on the eve of Miladunnabi.  

Confirming the incident, City Police Commissioner Anupam Agrawal said that investigation is in progress and a case has been registered at Surathkal police station.

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News Network
September 16,2024

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The Israeli regime is recruiting African asylum seekers to kill Palestinians in the Israeli genocidal war on the Gaza Strip in exchange for permanent residency status, according to a report.

The report, ran by the Israeli paper Haaretz on Sunday, revealed that the project is conducted in an organized manner, with the guidance of military establishment legal advisers.  

In Gaza, the death toll passes 41,200 with close to 100,000 more injured in almost a year since the Israeli regime forces launched their genocidal war. However, the continued violence is prompting some Jewish Israelis to leave the occupied Palestinian land.

To make up for the loss, Tel Aviv is offering the incentive of permanent residency status to asylum seekers who agree to join the Israeli regime forces ongoing genocide in Gaza.

Haaretz has learned that some people have expressed objections to the practice, arguing that it exploits people who have fled their countries due to war. However, according to those sources, these voices have been silenced.

“This is a very problematic matter,” one source was quoted as saying by Haaretz.

According to the report, there are currently some 30,000 African asylum seekers living in the occupied territories, most of them young men. Around 3,500 are Sudanese citizens with temporary status granted by the court because the regime has not processed and ruled on their applications.

Unnamed sources who spoke with Haaretz also revealed that while there were some inquiries about granting status to asylum seekers who assisted in the genocidal war in Gaza, none were actually given status.

Haaretz also learned that the Interior Ministry explored the possibility of drafting the children of asylum seekers, who were educated in schools in the occupied territories, into the Israeli military.

In the past, the regime allowed the children of foreign workers to serve in the military in exchange for granting status to their immediate family members.

African refugees, who came to the occupied territories seeking asylum, were previously kept in internment camps and deported without their own consent.

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News Network
September 10,2024

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The Palestinian Hamas resistance movement has strongly denounced an Israeli attack on displaced people sheltering in tents in the al-Mawasi area of Khan Yunis in the south of Gaza Strip as “a brutal act of genocide.”

“The occupying regime’s appalling massacre against displaced people in the al-Mawasi area of Khan Yunis is a brutal act of genocide... This vicious targeting of unarmed civilians — women, children, and the elderly — in an area previously declared safe by the occupation army is proof of the ongoing Nazi policies that the Zionist entity is pursuing in its genocidal war against Palestinians,” the Gaza-based group said in a statement on Tuesday morning.

It added that such mass killings are being deliberately carried out in complete disregard of the international law, humanitarian law, and UN resolutions calling for an end to the aggression, noting the massacres are being perpetrated with the full support of the US administration, which is complicit in Israeli brutalities against Palestinians.

It also dismissed Israeli army’s allegations concerning the presence of resistance fighters in the targeted area as "downright lies meant to justify such ugly crimes."

"The resistance front has repeatedly confirmed the absence of ... its members among civilian communities or the use of residential areas for military purposes,” the statement pointed out.

Hamas also called upon the international community, the United Nations, and all political, humanitarian and judicial institutions to break their silence, assume their responsibility and work to stop the 11-month-long holocaust.

The resistance movement stated that world bodies need to take necessary steps in order to bring Israeli war criminals before the International Criminal Court (ICC) and hold them to account for their horrendous crimes.

According to Palestinian media outlets, at least 40 people were killed and 60 others injured in the Israeli attack on people sheltering in tents in the al-Mawasi area of Khan Yunis.

The strikes involved heavy missiles and left craters up to 9 meters (30 feet) deep in an area where people were living in at least 20 tents.

Ambulance and Civil Defense teams are facing considerable difficulty retrieving the bodies of the victims.

Initial assessments suggest the attack is “one of the most heinous massacres in the ongoing frenzied war”.

Witnesses described chaotic scenes in the area, with fires burning and Israeli reconnaissance planes flying overhead.

Israel launched its atrocious onslaught against the Gaza Strip, targeting hospitals, residences, and houses of worship, since Palestinian resistance movements launched a surprise attack, dubbed Operation al-Aqsa Storm, against the usurping regime on October 7 last year.

At least 41,020 Palestinians have been killed, most of them women and children. Another 94,925 individuals have sustained injuries as well.

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