Further fuel price cut to reduce operating profits: HPCL

September 21st, 2009 Govt report says airline margin losses improvedWASHINGTON — Helped by fees on baggage, the nation's airlines posted better operating margins in the second quarter. Low-cost and regional airlines had their first profitable operating margin since the third quarter of 2007, the U.S.

August 6th, 2009 British insurer Aviva reassures on profitsLONDON — British insurer Aviva PLC saw its share price spike around 6 percent Thursday despite slashing its dividend as the company posted better than expected results and announced plans to float off its Dutch unit to raise more money to shore up its balance sheet. Aviva said it made a net profit of 747 million pounds ($1.27 billion) in the first half of the year, in contrast to an 84 million pound loss in the same period of 2008 as margins in the life and pensions business improved.

July 28th, 2009 NEW DELHI - Budget carrier SpiceJet Tuesday reported net profits of Rs.263.42 million for the first quarter of this fiscal, against a loss of Rs.1.29 billion in the like quarter of 2008-09, despite some trying times for the aviation sector. The company's total income also registered a 10.55 percent increase at Rs.5.34 billion during the quarter, as against Rs.4.83 billion in the corresponding quarter of the last fiscal, said a regulatory filing with the Bombay Stock Exchange.

July 2nd, 2009 AGARTALA - The Tripura unit of the Communist Party of India-Marxist (CPI-M), the dominant partner of the ruling Left Front, will hold agitations across the state Friday to protest against the hike in fuel price. Petroleum Minister Murli Deora Wednesday announced a hike in petrol price by Rs.4 per litre and by Rs.2 per litre for diesel, attributing it to rise in global crude prices.

July 2nd, 2009 AGARTALA - Tripura Chief Minister Manik Sarkar Thursday demanded that the central government immediately withdraw the hike in petrol and diesel prices while the ruling Communist Party of India-Marxist (CPI-M) announced mass demonstrations Friday to protest the hike. Petroleum Minister Murli Deora Wednesday announced a hike of Rs.4 per litre for petrol and of Rs.2 for diesel.

June 30th, 2009 NEW DELHI - State-run oil companies Tuesday raised jet fuel prices by over 6 percent, the fourth hike in two months, after crude oil price at the global market reached a seven-month high of $72 per barrel. The aviation fuel would now cost Rs.2,307 more per kilolitre in Delhi at Rs.38,558.

March 1st, 2009 NEW DELHI - State-run oil companies Saturday slashed aviation turbine fuel (ATF) prices by seven percent, the 11th reduction since September last year. From March 1, jet fuel price will go down Rs.2,052 per kilolitre to Rs.27,106 in Delhi, while it will cost Rs.27,861 per kilolitre in Mumbai, an official of Indian Oil Corporation (IOC) said.

January 30th, 2009 NEW DELHI - Three days after the government announced reduction in petrol, diesel and cooking gas prices, state-run oil companies Saturday slashed the price of aviation turbine fuel (ATF) by four percent. The ATF price in New Delhi will go down Rs.1,208 per kilolitre to Rs.30,288 from Saturday midnight, an Indian Oil Corp official said.

January 27th, 2009 NEW DELHI - The cabinet is likely to take up the issue of a fuel price cut Wednesday, just a day after Sonia Gandhi, chairman of the ruling United Progressive Alliance, announced a likely dip at a political rally. The decision also comes with the Election Commission indicating that it plans to complete the general elections by May 18.

January 26th, 2009 NEW YORK - Credit card company American Express said Monday its profits plunged 72 percent as customers fell behind on loan payments and were also spending less amid the widening recession. Profits fell to $238 million from $858 million a year earlier.

January 14th, 2009 NEW DELHI - After eight successive cuts in aviation turbine fuel (ATF) price since last September, state-run oil companies Thursday raised it by at least Rs.1,040 per kilolitre, a rise of 3.4 percent. The new price will come into effect from midnight Thursday.

January 13th, 2009 NEW DELHI - A senior Asian Development Bank (ADB) official has questioned the Indian government's policy decision to reduce retail fuel prices, but preventing oil companies from charging market rates when global prices were at a peak. 'Is it right that when oil prices were at a peak, companies were not allowed to charge the appropriate price.

January 9th, 2009 MUMBAI - Another reduction in fuel prices is round the corner. In the next few weeks, petrol will be cheaper by Rs.5 a litre, diesel by Rs.3 a litre, and cooking gas (LPG) by Rs.20-25 a cylinder, Petroleum Minister Murli Deora said Saturday.

January 9th, 2009 MUMBAI - Petrol, diesel and cooking gas prices may be cut further to bring them in line with international rates, Petroleum Minister Murli Deora said here Saturday. The government might reduce petrol prices by Rs.5 per litre, diesel prices by Rs.3 per litre, cooking gas (LPG) prices may be cut by Rs.20-25 per cylinder.

January 8th, 2009 NEW DELHI - The petrol stock in the capital will be over by Friday evening, the head of the Federation of All India Petroleum Traders said late Friday morning. Sixty to seventy percent of petrol pumps have gone dry already as employees of public sector oil firms continue their strike.