Connect with us
Saturday,28-June-2025
Breaking News

Business

Ex-Turkish Airlines head Ayci named Air India CEO-MD

Published

on

Tata Sons has announced the appointment of Mehmet Ilker Ayci as the new Chief Executive Officer and Managing Director of Air India, an official said here on Monday.

Expected to take charge on or before April 1, Ayci (51) until recently was the Chairman of Turkish Airlines and was also on its Board of Directors prior to that.

The key appointment was finalised at the Air India board meeting on Monday, in which Tata Sons Chairman N. Chandrasekaran was a special invitee. Ayci’s appointment would be subject to regulatory approvals.

“Ilker is an aviation industry leader who led Turkish Airlines to its current success during his tenure there. We are delighted to welcome Ayci to the Tata Group where he would lead Air India into the new era,” said Chandrasekaran.

Acknowledging the appointment, Ayci said he is “delighted and honoured to accept the privilege of leading an iconic airline and to join the Tata Group”, which recently acquired the country’s flag carrier.

“Working closely with my colleagues at AI and the leadership of Tata Group, we will utilise the strong heritage of Air India to make it one of the best airlines in the world with a uniquely superior flying experience that reflects Indian warmth and hospitality,” Ayci added.

Born in Istanbul in 1971, Ayci was once the Advisor to the country’s current President, R.T. Erdogan, when the latter was the Mayor of Istanbul.

He served as the Chairman of Turkish Airlines from 2015 till he resigned last month.

An alumnus (1994) of the country’s first private varsity, Bilkent University, Ankara, he graduated from the Department of Political Science and Public Administration and is fluent in Turkish, English and Russian.

He continued his education with a research stay in political science from the Leeds University in the UK. In 1995, he completed his Master’s in international relations from the Marmara University in Istanbul in 1997.

During his successful career, he held several positions with the Istanbul Metropolitan Municipality, and for a period from 1994, served as Advisor to the then Mayor of Istanbul, Erdogan, who’s now the country’s President.

Later, Ayci served as the CEO of several insurance companies. In January 2011, he took over as the President of the Prime Ministry Investment Support and Promotion Agency of Turkey.

In 2013, he was appointed Vice-President of the World Association of Investment Promotion Agencies of which he later became the Chairman and served till 2015.

Business

US to send out tariff rate letters to countries starting next week

Published

on

Washington, June 28: US President Donald Trump has said his administration will send letters to countries “over the next week and a half or so” to tell them about their tariff rates, while noting that his pause on “reciprocal” tariffs could be extended or shortened.

Trump made the remarks as South Korea and other countries have been seeking to strike a trade deal with the United States to avoid or minimise the impact of the reciprocal tariffs, with his pause on the new tariffs scheduled to end on July 8, media reports.

“So at a certain point over the next week and a half or so, or maybe before, we’re going to send out a letter. We talked to many of the countries,” Trump told a press briefing. “So we’re just going to tell them what they have to pay to do business in the United States.

Asked whether the pause on the tariffs can be extended, the president said, “We can do whatever we want.”

“We could extend it. We could make it shorter,” he said. “I would like to make it shorter. I’d like to just send letters out to everybody, (saying) ‘Congratulations. You are paying 25 percent.'”

Earlier in the day, Treasury Secretary Scott Bessent told Fox Business that the Trump administration could wrap up its trade talks with countries by Labor Day on Sept.1, as he reiterated that trading partners are approaching it with “very good” deals.

Noting that there are 18 “important” trading partners, Bessent pointed out that Washington has struck a deal with Britain and reached an accommodation with China.

“So if we can ink 10 or 12 of the important 18 — there are another important 20 relationships — then I think we could have trade wrapped up by Labor Day,” the secretary said.

On April 2, Trump announced reciprocal tariffs, including 25 percent duties on South Korea. Intended to match what other countries impose on U.S. goods, the new tariffs took effect on April 9, but the president paused them for 90 days that same day to allow for negotiations.

South Korea and other countries have been hoping to reach a trade deal with the U.S. before the temporary suspension of the reciprocal tariffs ends on July 8.

Continue Reading

Business

Centre issues revised guidelines for waste-to-energy projects

Published

on

New Delhi, June 28: The Centre on Saturday said it has released revised guidelines for the waste-to-energy programme under the National Bioenergy Programme., which aims to foster a more efficient, transparent, and performance-oriented ecosystem for bio-waste to energy deployment in India.

By simplifying procedures, expediting financial assistance, and aligning support with plant performance, the updated guidelines are designed to significantly enhance the ease of doing business for private as well as public sector, said the Ministry of New and Renewable Energy (MNRE).

Under the new framework, the ministry has simplified several processes, such as cutting down on paperwork and easing approval requirements, which will enable the industry especially MSMEs to enhance their production of CBG, Biogas and Power.

These changes align well with improvement of waste management including stubble, industrial waste, and India’s broader goal of reaching net-zero emissions by 2070.

A key highlight of the revised guidelines is the improved system for releasing Central Financial Assistance (CFA).

“Considering the challenges faced by the developers to achieve 80 per cent generation, flexible provisions have been made in the scheme for release of CFA based on plant performance,” said a ministry statement.

Previously, companies had to wait until the entire Waste-to-Energy project attains 80 per cent generation to receive support.

Moreover, as per the revised guidelines, there is a provision to release the CFA in two stages. Based on performance of the projects, 50 per cent of total CFA will be released after obtaining the consent to Operate certificate from State Pollution Control Board, against the bank guarantee, while the balance CFA would be released after achieving the 80 per cent of the rated capacity or the maximum CFA eligible capacity, whichever is lesser.

“In notably, even if a plant does not achieve 80 per cent generation for above both conditions during performance inspection, provision is made for pro-rata based disbursement based on the percentage output. However, no CFA will be given if the PLF is less than 50 per cent,” according to the government.

This change acknowledges real-world challenges and supports developers by offering financial flexibility and viability during operations.

The revision introduced provides the flexibility to the project developers in claiming CFA either within 18 months from the date of commissioning, or from the date of In-principle approval of CFA, whichever is later.

Continue Reading

International

Trump says US to terminate all trade talks with Canada

Published

on

New York, June 28: US President Donald Trump announced that the United States would terminate all trade talks with Canada due to Canada’s digital services tax on US tech companies.

Canada has just announced that they are putting a digital services tax on American technology companies, which is a direct and blatant attack on the United States, said Trump in a post on social media.

“Based on this egregious Tax, we are hereby terminating ALL discussions on Trade with Canada, effective immediately,” said Trump.

The United States would inform Canada the US tariffs that apply to Canadian businesses within the next seven days, according to Trump.

Canada is copying the European Union in introducing digital services tax, noted Trump.

The United States is scrambling to wind up trade talks with a large number of trading partners as the self-imposed deadline of July 9 is approaching, media reported.

However, White House Press Secretary Karoline Leavitt on Thursday said Trump could extend the deadline.

Earlier in may 2025, Canadian Prime Minister Mark Carney said that he had wide-ranging and constructive discussions with US President Donald Trump in the White House, although the two leaders disagreed on tariffs lifting and the “51st state,” according to the live broadcast of CBC News.

Carney said he told Trump it’s “not useful” to repeat the 51st state idea, adding that Trump is the president who is going to say whatever he wants.

“He understands that we are having a negotiation between sovereign nations,” said Carney.

Continue Reading

Trending