ECONOMIC TIMES

Weekly News

w.e.f 13th September,2010 – 17th September, 2010

Submitted By:Abhineet DasMBA 2A94972238133

Kingfisher Owes Bharat Petroleum Rs 245 crore

• Kingfisher Airlines owes Rs 245 crore to Bharat Petroleum Corporation (BPCL) on account of buying Aviation Turbine fuel (ATF), (As per BPCL's Chairman and Managing Director S Radhakrishnan)

• Though BPCL stopped credit and started cash-and-carry mode for Kingfisher, the airline is now not buying from BPCL

• BPCL has opened ATF outlets at seven more airports in the country and as of now has a presence in 30 airports in the country. BPCL's in and out retail formats started making profits and its total turnover has reached Rs 350 crore, he said.

Emami settles dispute over Zandu Balm song ; to use for ads

• Emami Ltd, the owner of Zandu Balm, said its copyright infringement dispute with the production company of Salman Khan starrer 'Dabangg' has been amicably settled between the two parties. (As per Emami, Director Mohan Goenka)

• Subsequently, the company will be using the chartbuster 'Munni Badnaam' for its promotional campaigns, while it is still in talks over using Malaika Arora Khan, who did the item number in the film, as the brand ambassador for Zandu Balm.

More rich than poor Indians

• National Council of Applied Economic Research (NCAER) has estimated in its report, "How India Earns, Spends and Saves", that despite the economic slowdown of the last three years, the number of high-income households in India has exceeded the number of low-income households.

• Households with high income or earnings have grown by over 3.7% in total and now touch the mark of around 21%. That is not all also the households with low income sources have fallen by around 3.2% and gone down to a mark of 18%.