Connect with us

Business

Boeing wins $22 billion SpiceJet Contract

Published

on

SAN FRANCISCO (Diya TV) — American aircraft manufacturer Boeing won a $22 billion deal from budget carrier SpiceJet Ltd., marking the company’s largest-ever order from an Indian airline, and strengthening its hold in a market dominated by European rival Airbus.

The order includes 100 of Boeing’s signature 737 Max aircraft, it was renegotiated originally from 55, SpiceJet said in a statement Friday. As part of the deal, the airline also has the option to purchase another 50 aircraft from Boeing, including the 777 and the 787 Dreamliner wide-bodies.

The commitment, which was included in Boeing’s 2016 order tally, comes as the Chicago-based company races to catch its aforementioned rival in narrow-body aircraft sales, the largest source of profit for both companies. The deal for the 737s, which competes with Airbus’s A320neo, also helps Boeing widen its grip in the fast-growing Asian market.

Rapidly expanding Indian carriers will need 1,850 new planes valued at $265 billion in 20 years, according to a Boeing forecast. Single-aisle planes will represent the bulk of these deliveries, the forecast said.

The Asia-Pacific region, which is surpassing North America as the world’s largest aircraft market, will need more than 15,000 new planes valued at $2.3 trillion in the next 20 years. That represents 38 percent of the global requirement, according to Boeing.

SpiceJet, which is based in Gurgaon near New Delhi, and AirIndia Express are the only budget carriers to use Boeing aircraft in the country.The airline placed firm orders for 100 737 Max 8 aircraft, with a cumulative list price of $11 billion, before the discounts that are customary for large customers.

Deliveries will begin in July 2018 and continue through 2024. The carrier and Boeing also discussed a proposed stretch of the largest Max, Singh told reporters. The so-called 10X, Boeing’s response to Airbus’s fast-selling A321neo, would be available in 2020 and seat as many as 230 travelers.

Information from Bloomberg contributed to this report.

Business

Lewandowski spars with Rep. Jayapal in impeachment probe

Published

on

Lewandowski

WASHINGTON (Diya TV) — Former Trump Campaign Manager Corey Lewandowski sparred with Rep. Jayapal among others, before a House Judiciary committee, taking on a barrage of questions from members of Congress who are trying to build a case towards the impeachment of President Trump.

100,000 petitions were delivered to the Gates Foundation in Seattle, asking them to rescind the award they plan on giving to Indian Prime Minister Modi for his clean India initiative because of his stance on Kashmir.

Federal investigators, including the FBI, are looking into potential misconduct by Mithril Capital, a venture capital firm co-founded by Peter Thiel and Ajay Royan. Royan has a 20 year relationship with Thiel and has raised in excess of $1 billion, $300 million of which came from Thiel. Some investors are frustrated Mithril is sitting on their money rather than investing in startups, while raking in as much as $30 million per year in management fees.

Hundreds of alums from the Indian Institute of Technology gathered in Southern California for their annual convention, featuring some of the brightest minds in technology.

Ravi Kapur contributed to this report.

Continue Reading

Business

India may offer to cut import duties, for U.S. goods

Published

on

India

NEW DELHI (Diya TV) — India has a road map in place to spend $130 billion over the next 5-7 years to modernize their armed forces and bolster their combat capabilities over their neighbors. The plan includes procurement of a slew of weapons, missiles, air defense systems, fighter jets, submarines and developing infrastructure for use of AI.

Meanwhile, India and Russia are increasing industrial cooperation and will create new technological and investment partnerships, especially in high-tech, with the goal to increase bilateral trade to $30 billion by 2025.

And to help Indian’s space agency ISRO establish a communication link with Vikram, the moon lander lying motionless on the lunar surface, NASA is sending hello messages. NASA’s Jet Propulsion lab beamed a radio frequency to Vikram to establish contact, but no luck so far.

Ravi Kapur contributed to this report.

Continue Reading

Arts

FBI: Amity CEO Ridhima Singh, others accused of major healthcare fraud

Published

on

Amity

SAN FRANCISCO (Diya TV) — The FBI says, CEO Ridhima Singh of Amity Home Health Care is among the 28 people, that include doctors and nurses, accused in the scheme. Federal prosecutors charged the Bay Area’s largest home health care provider, Amity Home Health Care, with involvement in a kickback scheme that led to $115 million in tainted claims. The complaint said medical professionals received $8 million worth of bribes disguised as payroll, phony medical directorships, reimbursements, entertainment or gifts, in what the Department of Justice said was simply “a cash for patients scheme.”

The man accused of stabbing and killing 62 year old Parmjit Singh in Tracy made his first court appearance. 21 year old Anthony Kreiter-Rhoads of Tracy pleaded not guilty of homicide during his arraignment. Police are still investigating the motive behind the crime.

And Priyanka Chopra & her husband Nick Jonas were named by People Magazine as their pick for ‘Best Dressed of the Year.’

Ravi Kapur contributed to this report.

Continue Reading

Trending

Diya TV , Inc. © 2017 All Rights Reserved