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II THE KATHMANDU POST | FRIDAY, FEBRUARY 22, 2013 Gold price down Rs 1,115 per 10gm On Thursday, gold was trading at Rs 47,755 per 10 gm (Rs 55,700 per tola)— down from Wednesday’s Rs 48,870 per 10 gm (Rs 57,000 per tola). Silver price dropped to Rs 917.50 per 10 gm from Rs 891.50 AGENCE FRANCE PRESSE WASHINGTON, FEB 21 THE US government vowed to aggressively combat a rise in the foreign theft of trade secrets on Wednesday amid mounting concerns over recent hacking attacks allegedly emanating from China. A new strategy document released by the White House did not explicitly name China, but warned that foreign governments and firms had stepped up efforts to obtain such material, threatening US economic and national security. “We will continue to act vigorously to combat the theft of US trade secrets that could be used by foreign companies or foreign governments to gain an unfair economic edge,” the strategy document says. Such “theft threatens POST REPORT KATHMANDU, FEB 21 PRICES of gold and silver declined in the local market on Thursday as an impact of the drop in the price in the international market. The precious yellow metal price came down by Rs 1,115 per 10 gm overnight, while silver lost Rs 26 per 10 gm. On Thursday, gold was trading at Rs 47,755 per 10 gm (Rs 55,700 per tola) — down from Wednesday’s Rs 48,870 per 10 gm (Rs 57,000 per tola). Silver price dropped to Rs 917.50 per gm from Rs 891.50 per 10 gm. On Wednesday too gold and silver prices were down Rs 170 and Rs 8.50 per 10 gm, respectively. Bullion dealers attributed the decline in bullion prices to American businesses, undermines national security, and places the security of the US economy in jeopardy,” it said, putting “American jobs at risk.” The White House vowed to “apply sustained and coordinated diplomatic pressure on other countries to discourage trade secret theft.” The strategy was made public a day after a report by American Internet security firm Mandiant said that a Chinese military cyberspy unit is targeting US and other foreign firms and organizations with hacking attacks. A White House official said that the new strategy “is not focused on any one country, nor is it focused on cybersecurity exclusively, though cyber does play an important role in the strategy.” The plan was unveiled at an event attended by US Attorney sluggish demand in the international market, where stockiests were selling gold to invest in the share market. “Gold price has plunged by Rs 1,300 per tola (11.664 gm) overnight because of the freefall in the international market price,” said Tej Ratna Shakya, immediate POST REPORT KATHMANDU, FEB 21 ‘AARTHIK Udharikaran Ka Bis Barsha’, a book penned by Gagendra Budhathoki, a journalist with Karobar vernacular daily, was released in Kathmandu on Thursday. Former finance minister Ram Sharan Mahat formally released the book in the presence of prominent business leaders and journalists. The book revolves around the impact of the economic liberalisation on the country. The 230-page book includes 58 articles on diversified economic issues. Mahat lauded Budhathoki’s initiative. He, however, said the situation ‘is not as gloomier’ as presented in the book. “It is true that the country has not been successful in achieving goals as per the expectation post-liberalisation. But we should not forget that whatever the country has achieved on the economic front so far is the outcome of the economic liberalisation. Nepal Chamber of Commerce Chairman Suresh Kumar Basnet General Eric Holder, who said the protection of intellectual property and trade secrets was a “top priority” of the administration. “Particularly in this time of economic recovery, this work is more important than it ever has been before,” Holder said. “The stakes have never really been higher. In some industries a single trade secret can be worth millions or even billions — billions — of past president of Nepal Gold and Silver Dealers’ Association (Negosida) that fixes price for the domestic market. According to Shakya, bullion prices are likely to decline for few more days in the domestic market. In international market, gold price declined by $46 to $ 1,560 an Investment Group Bolloré CEO Vincent Bollore presents the electric ‘Bluecar’ in Paris on Thursday. The Bolloré Bluecar is a small four-seat, three-door electric car designed by Pininfarina and manufactured by Cecomp in Bairo, Italy, under a join venture owned by Bolloré and Pininfarina called Vehicule Électriques Pininfarina Bolloré . AFP/RSS Tax hike for foreigners in Switzerland AGENCE FRANCE PRESSE GENEVA, FEB 21 FOREIGNERS who move to Switzerland are set to face a tax hike from January 1, 2016, according to a Swiss tax authority timetable published Wednesday. Currently, those on the rich list can opt to pay a lump sum to the local tax service, with their spending, rather than income, being used to gauge their wealth. The new rules are set to expand what is considered taxable for the super-rich, and will apply in 2016 to anyone who moves to the country as of 2014. Rich foreigners who already live in Switzerland will be allowed a grace period, up to 2020, before the new rules apply. Around 5,000 people benefit from the current system, but it has raised hackles in Switzerland because it is only open to foreigners. Last year, opponents of the existing rules launched a petition to demand that they be abolished outright. Under Switzerland’s renowned system of direct democracy, opponents managed to open the way for a referendum within the next two to three years. A handful of Switzerland’s 26 cantons—the equivalent of US states—have already decided to abolish their lump-sum rules outright or have toughened the criteria. Swede Ingvar Kamprad— founder of global furniture giant Ikea—is one of the bestknown beneficiaries of the lump-sum rules. Kamprad was recently ranked by Swiss magazine Bilan as the richest man in Switzerland, with a net worth of up to $42 billion. Journo Budhathoki launches book US vows to ‘vigorously’ combat trade secret theft A strategy document released by the White House warned foreign governments and firms had stepped up efforts to obtain such material BULLION PRICES COMPARED DATE GOLD PER 10GM SILVER PER 10GM Feb 21 Rs 47,755 Rs 891.50 Jan 21 Rs 50,240 Rs 973 Dec 21, 2012 Rs 50,000 Rs 943 Nov 24 Rs 53,025 Rs 1,050 Nov 21 Rs 52,125 Rs 1,020 Oct 19 Rs 50,970 Rs 986 Sept 21 Rs 52,300 Rs 1,037 said the book is ‘a must read’ for the business community. Budhathoki said the book has been written in a simple way so as to make it understandable to all readers. He said the book summarises how the country failed to dollars.” The strategy calls for greater coordination among different government agencies, for the private sector to be better informed about the risk of trade secrets theft and for stepping up intelligence and law enforcement efforts. Under Secretary of State Robert Hormats emphasized that China was not the only offender, but said intellectual property and trade secrets remain a “serious and troubling issue” in relations between the two largest economies. “That’s why cyber security and the protection of IPR (Intellectual Property Rights) and trade secrets are among the main items that we have discussed with the Chinese over the years,” he said at the unveiling event. China has denied charges of state-sponsored hacking and said Mandiant’s claims had “no factual ounce and silver by $1.10 to $28.40 an ounce on Thursday. Shakya said the present market demand stands at 25 kg a day. On Nov 24 last year, the gold price had increased up to Rs 53,025 per 10 gm (Rs 61,850 per tola) on the strength of international gains and devaluation of the Nepali rupee. At that time, Silver price too had increased to Rs 1,050 per 10 gm. SKorea, Japan, China, end talks AGENCE FRANCE PRESSE TOKYO, FEB 21 JAPAN, China and South Korea ended preparatory talks in Tokyo Thursday about a possible free trade agreement, despite tensions about territorial disputes. Working-level officials from the three countries met for two days to prepare for the first round of negotiations in South Korea on an FTA, the foreign ministry said in a statement. The first round is expected to be held between late March and early April, Japanese media reported. The three countries agreed at a meeting of their trade and economy ministers in Cambodia last November to enter into free trade talks. The discussions are expected to hit opposition from Japanese farmers since a trade pact could allow cheaper agricultural products like Chinese rice into Japan. China and Japan are arguing about sovereignty over an archipelago in the East China Sea, while Japan and South Korea have a longstanding dispute over ownership of islands in waters between the two countries. handle economic liberalisation in the past 20 years. “I have written this book keeping in mind the general people. This book is targeted at each and every people having interest on issues related to the national economy,” he said. basis”. The latest cyber security scare has seen firms, including the New York Times and the Wall Street Journal, report attacks believed to emanate from China, and comes amid mounting concern over hacking as a military threat. The latest classified National Intelligence Estimate identified China as the country most aggressively seeking to penetrate the computer systems of US businesses and institutions, the Washington Post reported this month. The document, according to the Post, identifies energy, finance, information technology, aerospace and automotive companies as the most frequent targets of cyberattacks. Outside experts have estimated the damage to the US economy in the tens of billions of dollars, the paper said. SHARES NEPSE Nepal Stock Exchange Singhadurbar Plaza, Kathmandu February 21, 2013 TRADING INFORMATION TRADING PRICE SN COMPANY MAX MIN CLOSING NO SHARES 1 Agricultural Dev Bank Ltd 255 244 250 3,237 2 Arun Valley Hydropower Dev Co Ltd 323 318 318 1,396 3 Asian Life Insurance Co Ltd 231 229 230 418 4 Bishal Bazar Co Ltd 1,863 1,825 1,825 564 5 Bhargav Bikash Bank Ltd 103 103 103 1,000 6 Bank of Kathmandu 730 701 719 14,443 7 Butwal Power Co Ltd 799 798 798 700 8 Bishwa Bikas Bank Ltd 136 134 136 230 9 Business Universal Dev Bank Ltd 99 99 99 441 10 Chhimek Laghubitta Bikas Bank Ltd 423 407 407 94 11 City Dev Bank Ltd 166 166 166 87 12 Clean Energy Dev Bank Ltd 168 162 162 3,220 13 Chilime Hydro Power Co 1,199 1,129 1,175 3,672 14 Citizens Bank International Ltd 300 280 291 8,492 15 Everest Bank Ltd 1,590 1,530 1,569 5,779 16 Everest Bank Ltd (Con) Preference 807 801 801 104 17 Garima Bikas Bank Ltd 183 175 183 320 18 Global IME Bank Ltd 485 450 468 13,474 19 Guras Life Insurance Co Ltd 150 145 145 1,060 20 Grand Bank Nepal Ltd 214 200 208 7,557 21 Gaurishankar Dev Bank Ltd 81 80 80 44 22 H & B Dev Bank Ltd 62 61 61 1,000 23 Himalayan Bank Ltd 850 825 850 865 24 Himalayan Gen Insu Co Ltd 195 194 195 134 25 ICFC Fin Ltd 132 132 132 438 26 Infrastructure Dev Bank Ltd 70 68 69 4,202 27 Jyoti Bikas Bank Ltd 83 82 82 260 28 Janata Bank Nepal Ltd 188 180 188 25,321 29 Kaski Fin Ltd 101 100 101 1,639 30 Kailash Bikas Bank Ltd 180 180 180 18,300 31 Kumari Bank Ltd 289 285 285 31,789 32 KIST Bank Ltd 140 135 137 8,950 33 Kamana Bikas Bank Ltd 128 128 128 40 34 Laxmi Bank Ltd 361 352 360 1,190 35 Lumbini General Insurance 116 116 116 100 36 Life Insurance Co Nepal 993 960 993 140 37 Lumbini Bank Ltd 274 259 274 6,840 38 Machhachapuchhre Bank Ltd 247 239 243 7,282 39 Malika Bikash Bank Ltd 136 134 136 1,000 40 Manakamana Dev Bank Ltd 69 68 68 850 41 Muktinath Bikas Bank Ltd 281 278 280 250 42 Nabil Bank Ltd 1,894 1,820 1,850 4,683 43 NABIL Bank Ltd (Pro) Share 1,185 1,170 1,170 901 44 Nepal Bangladesh Bank Ltd 315 298 313 67,998 45 Nepal Bank Ltd 805 780 780 2,252 46 Nepal Credit And Com Bank 208 202 205 7,160 47 Nilgiri Bikas Bank Ltd 129 129 129 30 48 Nepal Investment Bank Ltd 836 805 826 6,500 49 Nerude Laghubita Bikas Bank Ltd 346 346 346 10 50 Nepal Life Insurance Co Ltd 2,045 1,960 2,045 2,320 51 National LifeInsu CoLtd 640 615 627 5,103 52 NMB Bank Ltd 296 275 287 2,450 53 Nepal Doorsanchar Co Ltd 654 643 652 14,810 54 Nirdhan Utthan Bank Ltd 233 233 233 17 55 Oriental Hotel Ltd 128 126 126 670 56 Prime Commercial Bank Ltd 339 317 330 15,045 57 Prime Life Insurance Co Ltd 300 294 296 628 58 Prabhu Fin Co Ltd 144 140 140 429 59 Reliable Fin Ltd 132 130 132 377 60 Shangrila Dev Bank Ltd 129 129 129 200 61 Sanima Bank Ltd 292 277 287 12,763 62 Nepal SBI Bank Ltd 877 848 865 3,423 63 Siddhartha Bank Ltd 331 324 331 639 64 Standard Chartered Bank Ltd 1,989 1,950 1,987 1,383 65 Sewa Bikas Bank Ltd 144 138 138 705 66 Sagarmatha Insurance Co Ltd 1,020 1,010 1,016 897 67 Shikhar Insurance Co Ltd 565 565 565 10 68 Siddhartha Investment Growth Scheme-1 13 12 13 17,400 69 Siddhartha Insurance Ltd 205 205 205 20 70 Surya Life Insurance Co Ltd 170 167 167 70 71 Summit Micro Fin Dev Bank Ltd 184 184 184 10 72 Sunrise Bank Ltd 239 221 236 5,063 73 Subhechha Bikas Bank Ltd 106 106 106 112 74 Supreme Dev Bank Ltd 68 67 67 856 75 Swabalamwan Bikash Bank 345 345 345 229 76 Tourism Dev Bank Ltd 96 95 96 1,050 77 Taragaon Regency Hotel 100 100 100 120 78 Union Fin Ltd 104 102 104 169 79 Unique Fin Ltd 88 88 88 100 80 Vibor Bikas Bank Ltd 88 85 87 3,380 81 Valley Fin Ltd 96 94 94 342 82 Western Dev Bank Ltd 80 79 80 72 83 Zenith Fin Ltd 95 93 93 464 Total Traded Amount Rs.: 137,286,555 Total Traded Shares: 357,782 Total Transactions: 1,238 INDEX CURRENT PTS CHANGE %CHANGE NEPSE 544.09 4.81 0.8921 Sensitive 142.69 1.31 0.93 Float 37.36 0.215 0.58 HIGHEST GAINERS Base: 16/07/2006, (Adjusted on 10/04/2007) = 100 MONEY | ekantipur.com 544.09pts 0.89% LUBL GBBL SRBL NBB MBL MDBL 7.87% 4.57% 4.42% 3.64% 3.40% 3.03% MODERATE GAINERS HBL NLICL JBNL SCB RIBSL NLIC 3.03% 2.79% 2.73% 2.42% 2.33% 2.25% MODERATE LOSERS MKDBL IDBL PRFL EBLCP GSDBL SLICL -2.86% -2.82% -2.78% -2.67% -2.44% -2.34% HIGHEST LOSERS HBDL AHPC KIST BBC CEDBL SEWA -3.17% -3% -3.52% -4.00% -4.71% -5.48% Sub-Indices Current Pts Change %Change Banking 540.65 7.73 1.4507 Trading 175.99 -6.41 -3.5168 Hotels 669.2 0.56 0.08 Dev Bank 247.76 -1.92 -0.77 Hydro Power 1058.59 0.21 0.02 Finance 253.42 -0.29 -0.11
MONEY | ekantipur.com Wimax launch for general customers delayed by three more months POST REPORT KATHMANDU, FEB 21 NEPAL Telecom (NT) has said it will take around three more weeks to make its WiMax wireless broadband internet service available for general customers. As per the company’s original plan, the service was supposed to be available by early January. This is the second time the company postponed the launch the service for general customers due to the delay in procurement of Customer Premises Equipment (CPE), also known as USB dongle. Prospective customers have to buy the device to connect their computer or laptop to the WiMax network. WiMax is part of the fourth generation (4G) communications technology that provides highspeed internet service and is considered to be one of the fastest wireless data services in the country. Currently, NT is offering this service on the basis of three volume based monthly packages — 32GB, 48GB and 60GB — with focus on only corporate customers. NT officials said two companies — Airmax Technology and BIZLINE Etihad’s ‘Big Switch’ Unitech Network — that were outsourced for WiMax service distribution will start receiving the CPEs soon from Chinese suppliers. As per the agreement reached with NT two months ago, the two companies were supposed to start distributing the internet line before Feb 19. “Procurement of CPEs delayed as the suppliers sought more time due to the Chinese New Year’s holidays,” said Rajesh Joshi, deputy spokesperson for NT. He said the service will be made available within the next three weeks, i.e. mid-March. The state-owned telecom utili- KATHMANDU: Etihad Airways will make its ‘Big Switch’ to new, state-of-the-art, passenger sales, website, and check-in systems next week, the most significant milestone in its $1 billion, tenyear, deal with Sabre Airline Solutions. The Passenger Service System (PSS) transformation project is the most challenging IT and businesscritical initiative that the Abu Dhabi-based airline has implemented in its history, the carrier said, adding it has involved intensive training for 6,700 Etihad Airways and third party staff. The Big Switch will integrate Etihad Airways’ current PSS into one platform that will utilise cutting-edge software across its reservations, inventory, eCommerce, distribution and departure control activities. The new Sabre Airline Solutions PSS will offer significant enhancements to the customer experience especially in areas such as mobile and guest communications, the company said in a statement. EU clears guarantee for bank BRUSSELS: European Union watchdogs gave sixmonth temporary approval on Thursday for an 18-billion-euro ($23.7 billion) French state guarantee to real-estate bank Credit Immobilier de France (CIF). The Commission said that the guarantee was needed to avert contagion in the French banking system. “This guarantee is necessary to cover CIF’s urgent liquidity needs and to give it time to draw up a restructuring or orderly resolution plan,” a statement said. France has six months to draw up a restructuring or orderly resolution plan following the provisional green light, Brussels underlined. (AFP) BAE annual net drops 14pc LONDON: British arms manufacturer BAE Systems on Thursday said the company’s net profits dropped to £1.07 billion ($1.63 billion, 1.23 billion euros) last year, a 14-percent drop on 2011. Group revenue fell seven percent to £17.83 billion in 2012 compared with a year earlier, BAE Systems added in an earnings statement, as the British and US governments tighten their defence budgets amid global economic strains. The company’s year was dominated by the collapse of BAE System’s proposed $45-billion merger with European aerospace giant EADS. (AFP) THE NEW YORK TIMES NEW YORK, FEB 21 BOEING has developed possible fixes for the battery problems in its grounded 787 jets and could have them back in the air within two months, industry and federal officials said Wednesday. The officials said Boeing has narrowed down the ways the lithium-ion batteries on the jetliners could fail, and believes that adding insulation between the cells of the batteries and making other changes would provide enough assurance that they would be safe to use. Raymond L Conner, the president of Boeing’s commercial airplane division, plans to propose the fixes in a Friday meeting with Michael P Huerta, the head of the Federal Aviation Administration. Huerta is not expected to approve the changes immediately, but the meeting is likely to start a highlevel discussion on the standards Boeing needs to meet as it tests the fixes and seeks to get the planes flying again. Boeing’s plan could be a pivotal moment in the history of the innovative fuel-efficient planes. Huerta and regulators around the world grounded the planes in mid-January after a battery caught fire on one jet parked at the Boston airport and smoke forced another 787 to make an emergency landing in Japan. Investigators have not determined what caused those problems. But Boeing’s engineers have worked closely with the FAA and outside experts to identify ways in which the batteries could have failed, and Boeing is now asking the government to sign off on a calculation that they have now come up with a safer design. Given the risks in moving ahead, federal officials said, the FAA has insisted behind the scenes that Boeing needed to come up with changes to prevent failures at the same time as it proposed further steps to wall off problems with the batteries and vent any smoke or fire ty had signed contracts with the two companies in a bid to provide the service in an efficient manner under a bundling scheme. Based on the agreement, customers will get the CPE and the WiMax service from these companies. Initially, the companies will set up 13 customer care centres each across the country for the sales of the service and the CPEs with warranty/guarantee. The centres will also be responsible to provide after-sales services to WiMax subscribers. Formally launched three months ago, the service is current- REUTERS ROME, FEB 21 SENIOR management at Italy’s state-owned defense group Finmeccanica met Indian officials who are looking into allegations of corruption connected with their government’s purchase of a dozen helicopters. The meeting was “positive” and will be discussed by Finmeccanica’s board later in the day, the company’s new Chief Executive Officer Alessandro Pansa said on Thursday. The Indian delegation is in Italy to collect evidence on the outside the planes. Boeing officials said they had also hoped to make all the fixes at once rather than dividing them into temporary and longer-term changes. By delaying some changes, Boeing could have been exposed to more problems. As a result, one big change under Boeing’s plan would be to redesign the batteries to place insulation inside and around each of the eight cells to minimize the risk that a short circuit or fire in one of the cells could spread to the others, as investigators have said This is the second time the company postponed the launch of the service for general customers due to the delay in procurement of USB dongle ly available for corporate customers of the Kathmandu valley, Banepa, Dhulikhel, Chautara, Dolakha, Ramechhap, Chitwan, Pokhara, Bhairahawa, Butwal, Palpa, Hetauda, Biratnagar, Itahari, Dharan, Birtamod, Dhulabari, Bhadrapur and Kakkadbhitta. NT has set a target to distribute 50,000 lines of the service by mid- July this year, also covering 1,800 VDCs of 38 districts. NT has been planning to take the WiMax service across the country by 2013-end covering all VDCs and municipalities. The company has capacity of 200,000 subscribers, and as per NT officials, around 500 lines have been distributed so far. occurred on the battery that caught fire in Boston on Jan. 7. Boeing might also adjust how tightly the batteries are packed. Boeing would make other changes within the batteries to reduce the chance that vibrations, swelling or moisture could cause problems, industry officials said. Boeing has already been testing some of the changes. The plane maker believes it could rebuild the batteries by next month on the 50 jets that have been delivered to airlines. But federal officials are likely to move POST REPORT KATHMANDU, FEB 21 SHREE Airlines has added Eurocopter AS350 B3e helicopter to its fleet in a bid to consolidate its lead in the fast-growing helicopter industry. The 9N-AKG chopper landed at the Tribhuvan International Airport on Thursday. Manufactured in France, the six-seater chopper costs Rs 200 million. With this, the company has seven helicopters — six of them being 24seater Russian-made Mi-17. Finmeccanica meets Indian officials on bribery probe case, which centers on allegations that Finmeccanica paid bribes to win a 560 million euro ($750 million) contract for the sale of 12 helicopters to the Indian government. An Italian investigation, which escalated last week with the arrest of the then head of Finmeccanica chairman Giuseppe Orsi, is putting pressure on the Indian government, already buffeted by a string of graft cases. Orsi has denied any wrongdoing. It has also become a political issue in the country ahead of parliamentary elections on February 24-25. India’s defense ministry has threatened Finmeccanica unit AgustaWestland with cancellation of the helicopter deal unless it can give assurances that no bribes were paid. Finmeccanica has until Friday to respond to requests made by Indian authorities. It has said it would cooperate with them to clarify the matter. Finmeccanica’s board meeting on Thursday is also set to discuss the long-delayed sale of its AnsaldoEnergia unit but no decision on this issue was expected, a source close to the matter said. Finmeccanica declined to comment. Workers load part of the Swiss sun-powered aircraft Solar Impulse into a Cargolux cargo aircraft at Payerne airport in Switzerland on Wednesday. The Boeing will carry Solar Impulse HB-SIA prototype aircraft to San Francisco for a serie of flights across America from the West to East Coast. AFP/RSS Shree Airlines, which possesses the Air Operation Certificate to fly on the international routes, is the first Nepali private airline to operate with a fully-owned fleet of five helicopters. “Now, we have a fleet of seven to remain the largest fleet of helicopters in the country,” said Banwari Lal Mittal, executive chairman, Shree Airlines. “The new chopper will be used to cater to the need of high-end tourists and pilgrims.” Besides, it will serve for mountain flights, search and rescue operation and medic III THE KATHMANDU POST | FRIDAY, FEBRUARY 22, 2013 Shree Airlines adds new chopper to fleet AGENCE FRANCE PRESSE MUMBAI, FEB 21 ASIA’S biggest low-cost carrier AirAsia said Thursday its new airline joint venture with India’s giant tea-to-steel Tata conglomerate may start operations by year-end. The new budget airline plans to operate from the southern Indian city of Chennai and boost connectivity between smaller towns for Indian travellers. The time of the launch “is in the hands of the Indian regulator... but most likely it will start by the fourth quarter”, AirAsia CEO Tony Fernandes said. AirAsia, headquartered in Kuala Lumpur, aims to invest between $30-50 million in the venture, he said, and could hire up to 300 staff. This is the first firm commitment of foreign investment in India’s aviation sector since the government last September relaxed rules to let overseas airlines take up to a 49 percent stake in domestic carriers. Abu Dhabi-based Etihad Airways is in talks to pick up a stake in Jet Airways, India’s second largest private airline by market share, but no deci- more slowly and demand more tests and assurances, and the final decision could rest with Huerta’s supervisors at the Transportation Department. Federal officials said that if the fixes check out, the jets could start flying again by April. Boeing will also have to win back the confidence of the flying public. Besides taking more steps to prevent short circuits from occurring, Boeing’s plan would enclose the bat- services in the remote areas. “Nepal being a gateway to Kailash Mansarovar, there is huge potential to attract highend Indian visitors,” said Mittal. “We have asked the government to hold government-to-government level talks with China to facilitate Nepali service provider to fly to Mansarovar.” The sound-proof chopper can fly up to 23,000ft. The Airline has been serving charters to agencies like the World Food Program to transport foods and other logistics to remote sectors. Tata-AirAsia airline JV plans take-off by year-end sion has been announced. AirAsia will hold 49 percent, Tata Sons—the group’s holding firm—30 percent and independent investor Telestar Tradeplace the balance in the venture, which was announced on Wednesday. AirAsia—through its operations based in Thailand and Malaysia—already connects Southeast Asia with Chennai, other southern cities like Bangalore, Tiruchirappalli and Kochi and Kolkata in the east. “It will have a fleet of A- 320s. We plan to start with three to four planes and scale up quickly after that,” Fernandes said. Boeing to propose redesign of 787 battery to US regulator Boeing believes adding insulation between the cells of the batteries and making other changes would provide enough assurance that they would be safe to use POST PHOTO: KIRAN PANDAY AirAsia, headquartered in Kuala Lumpur, aims to invest between $30-50 million in the venture tery within a sturdier metal container and create tubes to vent any hazardous materials outside the plane. It would add systems to monitor the activity inside each cell instead of just the battery as a whole. Industry officials said there is enough space in the electronics bay to expand the container and add the vent tubes. Until now, regulators have focused on the need to pin down the cause of the battery problems. But investigators, now weeks into their work, have been able to find only limited clues in the charred remains of the batteries in the Boston and Japan incidents. The lithium-ion batteries weigh less but provide more energy than conventional batteries, and the 787s make greater use of them than other planes. The stakes are substantial for Boeing, which will have to pay penalties to some of the airlines that have been unable to use them. Boeing also cannot deliver more of the planes while they are grounded.
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