World Business News

A proposal to issue preferential shares worth Rs 7,500 crore to Air India's lenders was approved by its Board today, as the national carrier saw significant rise in its yields and passenger revenue.

Sony Corp has agreed to sell its nearly 50 per cent stake in an LCD joint venture with Samsung Electronics to the South Korean company for $940 million, as it struggles to reduce huge losses at its TV business.

Adani Power has put on hold its 6,500 megawatt of capacity expansion plan due to lack of clarity on coal supplies, Chief Executive Officer Ravi Sharma said on Tuesday.

Athabasca Oil Sands Corp. says it has received full approval from Alberta regulators for the MacKay River oilsands project, a joint venture between the company and a Chinese energy giant.