India's domestic airtraffic grew over 26 pc in Sept
India’s domestic air traffic grew at a record pace of over 26 per cent in September compared to the same month last year with low air fares stimulating the travel demand, IATA said on Tuesday. Indian traffic “spiked 26.3 per cent in September compared to a year ago”, showed the latest data released by International Air Transport Association (IATA). It attributed this growth, which was several times that of 7.6 per cent recorded in August, to market stimulation measures by the Indian carriers which continued to offer low fares on the domestic sectors.
Walmart renames Scott Price as President & CEO for Asia
US retail giant Walmart on Tuesday said Scott Price has been renamed President and Chief Executive Officer of Walmart Asia with immediate effect, six months after he was promoted to take up an international role. Price will continue to lead important functions in Walmart home office that span its entire international portfolio, the company said. “Scott Price, who is currently Executive Vice President, Strategy and International Development, Walmart Stores Inc, will take on the additional responsibility as President and Chief Executive Officer - Walmart Asia, effective immediately,” Walmart spokesperson told PTI.
FIIs hike stake in HDFC to record-high of nearly 78%
Emerging as one of the most-liked stocks for foreign funds, mortgage giant HDFC has seen overseas investors raising their stake in the company to a record-high of nearly 78 per cent during the quarter ended September 2014. The mortgage financier has also become the first listed Indian company among 30 Sensex firms to have over 75 per cent shareholding by foreign institutional investors (FIIs). Cumulative FII holdings in the company rose to 77.85 per cent in the July-September quarter this year from 73.09 per cent in three months ended September last year, according to data from stock exchanges.
World’s 1st dengue vaccine likely by 2015: Sanofi
As India deals with increasing number of dengue fever, pharma major Sanofi on Tueday said the world’s first vaccine against the mosquito-borne viral disease may be available by the second half of 2015. Sanofi Pasteur, the French drugmaker’s vaccine unit, will file for registration of its vaccine candidate and subject to regulatory approval the world’s first dengue vaccine could be available by the second half of 2015, the company said in a statement. Results of the last stage of the clinical study showed that the vaccine gives a 95.5 per cent protection against severe dengue and an 80.3 per cent reduction in the risk of hospitalisation, it said.
Hero Moto to enter European mkts by end of next year
Country’s largest two-wheeler maker Hero MotoCorp aims to enter European markets, including Italy, Spain and France, by end of next year, with the launch of its hybrid-scooter ‘leap’ in these countries. In the first phase of its foray into Europe, the company plans to launch its products in Italy, Spain and France followed by the UK and Germany in the next phase of expansion, Hero MotoCorp ltd (HMCl) said in a statement.