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The Indian economy's growth will likely slow to dangerously low levels in the June quarter, according to a fresh survey report.

Most economists surveyed by Reuters over the past week expect the current financial year to be worse for India's economic growth than the last financial year (FY2012-13), in which the country's gross domestic product (GDP) slipped to 5 per cent - the lowest level in around a decade.

Leading American telecom carrier, Verizon has said that it is holding discussions with UK-based global telecom player, Vodafone for acquiring its stake in Verizon Wireless.

Verizon Communications is holding talks with Vodafone to acquire its 45 per cent stake in Verizon Wireless in a deal that could be valued at around $125 billion. The deal, which has been on the planning board for Verizon for some time, will be among the largest purchases in the industry. Following the deal, the company will be able to fully incorporate all of its profit instead of relying on dividends.

It has been revealed that Aer Lingus has been holding discussions with other parties before fellow Irish airline, Ryanair launched a takeover bid for the company.

New Delhi, Aug 30 : Prime Minister Manmohan Singh Friday said India is not heading back to 1991-like balance of payment crisis, when the country was forced to pledge its gold to pay its import bills.

"There is no reason to believe that we are going down the hill and that 1991 is on the horizon," the prime minister said in the Rajya Sabha, the upper house of parliament.

Manmohan Singh pointed out that India has around $280 billion of foreign exchange reserve, which is sufficient to finance nearly 7 months of imports.

Euan Sutherland, the chief executive of the Co-op Group has urged for support of the bank plan to revive the organisation, saying that it represents the best interest of the stakeholders.

Mr Sutherland said, "We are sorry but we are a new team grasping the nettle and getting on with fixing the problems. We are standing firmly behind the bank. Having looked at all the options, the plan we have come up with is the one which is in the best interests of the greatest number of stakeholders."

Abu Dhabi, Aug 30 : Rotana Jet has announced twice weekly flights between Abu Dhabi Al Bateen airport and Bahrain.

Bahrain marked the second international destination of Rotana Jet after Salalah in Oman.

The new service demonstrates the airline's commitment to expand to destinations that are largely underserved and have great market potential, the airline said.

"Today marks a very special occasion as we celebrate our launch into a city and country that show enormous potential and growth," said Rajendran Vellapalath, Rotana Jet's commercial and planning director.