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Iron ore prices dip 36% in 3 weeks
Slumped to $60-65 a tonne from the recent peak of $112-115 a tonne in August.

Letters: Pricey power
This refers to “Energy savings can wipe out shortages” (January 8). An integrated approach for energy savings is the need of the hour. Despite efforts by the various organisations like Bureau of Energy Efficiency (BEA) and Petroleum Conservation & Research Association, nothing substantial has been achieved.

News of the day

Love, interrupted
If I Could Tell You is a rather modest title for a book that makes no pretence of doing anything else. You could have your own point of view on whether something so essentially personal, with no real context or history, should stretch to 200 pages between two hard covers, but there’s no doubting the sincerity of intent. “Me at my most truthful and unadorned,” the unnamed narrator says, as he weaves a lyrical tale of his life in a series of letters to his daughter.
Home Business

Rs 5,000 cr loss expected for NACIL last fiscal: Patel

The National Aviation Company of India (NACIL), which runs flag carrier Air India, is expected to register a loss of about Rs 5,000 crore during 2008-09 fiscal, Rajya Sabha was informed today. - Govt hikes aviation sector allocation by 64% to Rs 12,000 cr - NACIL to double investment to Rs 8,165 cr in 2009-10: Budget - WAPL launches Airbus A320 course - Civil aviation severely hit by economic slump: Survey - AI, unions to hold talks on salary issue in afternoon - AI employee stage sit-in to protest delayed salaries "As per provisional estimates, NACIL is expected to register a loss of approximately Rs 5,000 crore in 2008-09, largely due to high operating expenses, which have been compounded due to the present economic recession resulting in a drop in passengers," Civil Aviation Minister Praful Patel said in a written reply to the Rajya Sabha. The high oil prices prevailing last year and the servicing of the debt on account of aircraft acquisition programme also led to the losses, he said. NACIL had submitted a proposal in October 2008 for equity infusion of Rs 1,231 crore and provision of soft loan of Rs 2,750 crore, with an interest of approximately 5 per cent payable over 15 years, he said. It has been advised to formulate a concrete proposal for equity infusion and provision of soft loan. NACIL was formed after the merger of Air India and Indian.


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