TopNews

Civil Aviation Minister, Praful Patel said on Friday that India will become one of the top five aviation markets in the next five years.

This would happen both on the size side as well as on the scale front. The technological development of the airports in India will be one major step in this direction. Patel said that very soon the airports will have GPS systems.

In order to include more muscle to its life insurance business, the Bank of Queensland (BoQ) has decided that it will buy out St Andrews insurance business from Commonwealth Bank. It has already signed a deal with the bank.

Through this deal, BoQ wants to increase its presence in the area of consumer credit insurance segment. No details about the money involved in the deal were given.

Indian selectors are worried about fitness issues of the players for T20 World Cup, injuries occurred to the players are hampering the selection. They all will meet on Friday to select the15-member team for ICC World Cup T20 beginning from April 30 in West Indies.

Selectors are keeping a watch on the factors like talent, experience, capability and they are also concerned about the injuries- minor or major to the players throughout the IPL.

Last year in 2009, World Cup T20 was mostly ruled by the injuries to the players than anything else.

Bharti has made two special vehicles (SPVs) in the Netherlands and Singapore to implement the $ 10.7 billion deal. Bharti Airtel is in the concluding stage of acquiring stake in Zain Telecom's operations in Africa.

It is expected that deal would be signed in next 48 hrs in Netherlands by Zain and Bharti's senior officials. Zain has agreed to compensate Bharti in case of legal costs incurred by Bharti on ownerships disputes issues. Zain will also sign an indemnity clause i. e. a guarantee clause, which will be valid for few years.

Wesfarmers is planning to capture new segments of the insurance sector. It would be making use of its Cole and Kmart chain of stores for this.

The Perth-based giant will be selling car and home content-related insurance policies. Out of these, Kmart will be the retail point for the car insurance and would be doing so through it tyre and auto outlets.

The content-based insurance would be sold through Cole's chain. While Kmart will start selling the policies from next week itself, the one by Cole would be done after some time.

Australia's biggest initial public offering (IPO) since Kathmandu, Miclyn Express Offshore, failed to maintain its good performance.

After showing a good performance, just after the opening, the float gave in to bullish tendencies and shed the early gains. Starting in the morning at $1.92, which was 2 cents higher than its issue price, it went up to $1.95.

This happened even though, at the same time, ASX went down by 1 per cent.