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'Rs 6,400-cr advances restructured'
B A Prabhakar, Executive Director, Bank of India, says the bank’s net interest margins have contracted due to a rise in the cost of deposits. Excerpts:

Karnataka govt plans 300-km 'steel corridor'
The Karnataka government is planning to develop a 300-km ‘steel corridor’, which they hope will attract investment worth Rs 20,000 crore from the steel majors. As part of the development, the idea is for a nuclear power plant, a port and high-speed train connectivity.

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Bharti may take on MTN in bid for Zain
Indian firm holds preliminary talks, Essar group also in the fray.
International Business

Etihad Airways to extend operations to Hyderabad

Etihad Airways, the national airline of the United Arab Emirates, will start operation of its flights between Abu Dhabi and Hyderabad four times a week from November 2009. The service will become daily from the start of 2010. The addition of Hyderabad brings the number of Indian destinations served by Etihad to seven. Sensex flat; Metal, IT stocks gain “This will provide a wider choice for travellers wishing to fly to the United Arab Emirates from our airport,” Sripathy, CEO of GMR Hyderabad International Airport Ltd, said. Etihad currently operates 38 flights a week from the UAE to India, with flights from Abu Dhabi to Mumbai, New Delhi, Thiruvananthapuram, Kochi, Kozhikode and Chennai. The airline is also pushing to secure further traffic rights from Abu Dhabi to other India cities, including Bangalore. Etihad will operate a two class Airbus A320 on the new Hyderabad route configured to carry 140 passengers with 20 in business class and 120 in economy class.


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