Australia reauthorizes Quantas and American Airlines on trans-Pacific routes

Newsroom24x7 Desk

american airlinesMelbourne : The Australian Competition and Consumer Commission has issued a draft determination proposing to re-authorize Qantas and American Airlines to continue to coordinate their operations on trans-Pacific routes for a further five years. Under the alliance, the airlines propose to continue coordination in respect of marketing and sales, freight, pricing, scheduling, distribution strategies including agency arrangements, yield and inventory management, frequent flyer programs, lounges, joint procurement, and product and service standards.

The ACCC stated that this alliance would result in continued public benefits for passengers travelling between Australia and the US through enhanced products and services including new frequencies and destinations, more online connections, better scheduling, greater loyalty program benefits and improved lounge access. The alliance is also likely to promote competition between other airlines that provide services on trans-Pacific routes. The alliance, in ACCC’s opinion, is unlikely to result in any significant public detriment, largely because the ACCC accepts that American Airlines would be unlikely to introduce its own trans-Pacific services in the absence of its alliance with Qantas.

The ACCC previously granted authorisation to Qantas and American Airlines on 29 September 2011. The ACCC also granted interim authorisation in July 2015 to facilitate the introduction of two new alliance services from December 2015. Now, with the alliance in place, American Airlines would begin a service operating between Sydney and Los Angeles, and Qantas will begin a service operating between Sydney and San Francisco.

Authorisation provides immunity from court action for conduct that might otherwise raise concerns under the competition provisions of the Competition and Consumer Act (2010). Broadly, the ACCC may grant an authorisation when it is satisfied that the public benefit from the conduct outweighs any public detriment. ACCC is seeking submissions from interested parties in relation to its draft determination, before making a final decision. Submissions could be finalised by next month.

India bets on International Solar alliance in Paris

Newsroom24x7 Desk

solar panelsParis : Monday today will mark as a day of new page in the history of India-France collaborative efforts in the field of solar energy, as French President Francois Hollande and Indian Prime Minister Narendra Modi will launch an international solar alliance aimed at eventually bringing clean and affordable solar energy within the reach of all. The launch is scheduled to coincide and interweave with a summit of world leaders at the start of two weeks of talks. The event to commence in the outskirts of Paris aims to seek a new global deal on curbing climate change, with a special eye of focus on natural avenues and attempt to shift from fossil fuels to renewable energy with support from nature’s plentifulness.

India is keen to make the most of this summit in terms of actively participating along with co-countries and strengthening energy buffers by promoting intensive solar and other renewable sources within the country. An Indian government statement on Sunday said there were well over 100 solar-rich countries in the tropics that could be members of the International Solar Alliance to develop clean and affordable solar energy, and Indian certainly is keen to feature among the top list of the participants. It said — Solar energy is a practical and efficient way to reduce the greenhouse gas emissions.

The erstwhile 2009 Copenhagen Summit did not convert into effective results and had cast an unsuccessful shadow of failure in the minds of participating countries. Hence, viewing this Paris Summit as a bundle of hope and expecting to attempt reaching a global climate deal, United Nations is placing as much weight on the efforts of individual governments as on an overarching UN agreement.

The participating countries too have shown keenness and a majority of them, more than 180 nations, to be precise, have submitted their home-made national action plans, keeping in mind their own country-requirements, as well as their contribution towards a global cause. The efforts are genuine, the plans are in place, but the target of achievement — a goal of limiting global warming to 2 degrees Celsius (3.6 degrees Fahrenheit) above pre-industrial times — seems a far cry, not impossible though, but a step by step trickle down result which can be anticipated, does put the scientific minds at unrest, for want of stronger commitments and faster reprise. Scientists opine that the cap (2 degrees Celsius) is the bare minimum goal, achieving which is critically essential to prevent the most devastating consequences of global warming.

India’s national plan focuses on solar energy, and, based on the climate of the country as a whole, India aims to achieve solar energy expansion, and believes the renewable energy platform in India would grow significantly in the times to come. Not leaving it to words, the target has been laid down in digits — India’s aim to reach a capacity of 100 gigawatts by 2022, and this target is under constant escalation over regular time period, to be scaled up further in future.

Firms such as Tata Power have already diversified long back into renewable energy resources and invested heavily in solar as a reliable source of power, and are optimistic of bringing lights into remote areas, across the board of income group, with a special objective to deliver power to some of India’s poorest people.

Bank Manager gets 2 years sentence for forgery

Newsroom24x7 Desk

cbiNew Delhi : The Special Judge for CBI cases, Tis Hazari Court, Delhi convicted S.M. Mitra, then Manager, United Bank of India, Delhi for offences of criminal conspiracy, forgery and criminal misconduct and sentenced him to two years rigorous imprisonment with fine of Rs. 25,000/-. In a case of causing financial loss to the bank, as well as criminal misconduct within the rules of the public sector organization, the then Manager was slapped the fine along with jail sentence.

CBI (Central Bureau of Investigation) had registered a case in April 1995, against the accused S.M. Mitra, on grounds of conspiring a forgery with the help of few other accomplices from within the organization. Being the main conspirator, it was alleged that the accused had hatched a conspiracy to cheat United Bank of India, IC Hotel Branch, New Delhi and forged a fake telegraphic message purported to be issued by United Bank of India New Market Branch, Kolkata in lieu of payment of a huge sum equal to Rs.16,09,100/- to a non-existent firm – M/s. Northern Investment and Leasing Company. The bank had issued pay order for the said amount in favour of the forged entity. Soon, the amount was withdrawn and misappropriated by the accused person.

CBI began investigation and took time to arrive at the nabbing of accused. Upon confirmed evidences, a chargesheet was filed in the Designated Court. The Trial Court found the accused guilty and convicted him.