Air Asia Missing Flight Updates

An AirAsia jet with 162 individuals on board disappeared Sunday while flying from Indonesia's second-largest town to Singapore on a scheduled  two-hour flight. Here is a look at the key developments.

Air Asia Flight 8501 soars from Surabaya, Indonesia's second-largest town, at 5.31am on Sunday (2231 UT1 Saturday), sure for Singapore.

The last communication between the pilot and traffic management is formed at vi.13am (2313 UT1 on Saturday), once the pilot asks to show left and climb to ten,360 meters (34,000 feet) to "avoid clouds," in step with Djoko Murjatmodjo, Indonesia's acting director general of transportation, United Nations agency additionally says there was no sign from the cockpit.

AirAsia says the airliner A320-200 was on the submitted flight set up route. Murjatmodjo says it's believed to own gone missing somewhere over the Java ocean between Tanjung Pandan on Belitung island and Pontianak, on Indonesia's a part of Kalimantan island.

Indonesia's Meteorology and geology Agency says dense storm clouds were detected up to 13,400 meters (44,000 feet) within the same space at the time the plane was rumored to own lost contact.

A search and operation is launched involving state, Singapore and Malaya. 3 Indonesian craft square measure sent to the realm, whereas Singapore's air force and navy search with 2 C-130 planes. state says two hundred rescuers were deployed to the side of Belitung island. The air search is suspended at fall, and is ready to resume at 6am on weekday (2300 UT1 Sunday).

Dozens of relatives of individuals aboard the plane furl an area at Surabaya airfield to wait word concerning their dear ones. Among the passengers were 3 South Koreans and one every from Singapore, Malaya and also the uk. the remainder were Indonesians.

Malaysian man of affairs Tony Fernandes, AirAsia's chief and also the face of the corporate, tweets, "This is my worst nightmare". He flies to Surabaya, wherever he says at a press conference that the main focus ought to get on the search and also the families. "We haven't any plan at the instant what went wrong. Let's not speculate at the instant," he says.

In a separate incident later Sunday, associate degree AirAsia flight carrying over one hundred fifty passengers experiences a technical drawback concerning ten minutes once beginning from Penang, Malaysia, and has got to come back to the airfield, AirAsia says. The flight soars once more for the short flight to Langkawi island and safely reaches its destination.

Saudi's budget based on crude oil prices

Saudi Arabia's 2015 state budget assumes an oil worth near current levels of around $60 a barrel for brent crude, a shift from past budgets that were made on the basis of costs well below market levels, economic analysts say.

The kingdom does not reveal the oil costs that it uses to calculate its annual budgets. thus analysts estimate them, creating assumptions concerning many different variables like planned oil exports and production for the subsequent year.

For the 2015 budget, proclaimed on Th, four analysts\' oil worth estimates square measure during a vary of $55 to $63.

That doesn't mean Kingdom of Saudi Arabia essentially expects such costs next year — government minister patriarch Alassaf same on Th there was a good distinction of opinion over once costs would begin rebounding, with some individuals project the half of next year et al 2016.

Instead, the budgeted oil worth is Associate in Nursing accounting assumption that the govt uses to line a baseline for next year\'s revenues. If  averages quite $60 next year, Saudi oil revenues can most likely be larger than projected; if goose is below $60, revenues are going to be lesser.

Oil costs have plunged nearly fifty % since Gregorian calendar month, pressuring the finances of source countries like Kingdom of Saudi Arabia, the largest producer of crude oil in the world.


In past years, Saudi budgets unremarkably based mostly their calculations on oil costs so much below current levels. as an example, the 2014 budget assumed Associate in Nursing oil worth below $70; once the budget set up was proclaimed, goose crude was commerce at $111.

In Associate in Nursing interview with Al Arabiya tv on Th, Alassaf confirmed his ministry had departed from past follow and assumed a mean 2015 oil worth near current levels in its latest budget.

"We were realistic in our estimates for next year\'s revenues in lightweight of current and expected developments within the oil market. perhaps over the past years I agree we have a tendency to were conservative, however this year we have a tendency to were realistic,".

Million Xiaomi Phones sold in Indian Market

Xiaomi India's Head Manu Kumar jain on weekday proclaimed that the Chinese smartphone whole had crossed a significant milestone in India this month - it's managed to sell one million smartphones within the country.

The Chinese manufacturer, that is additionally referred to as China's Apple, entered the Indian market solely in july with its Mi three smartphone, and then the deed is kind of spectacular as this means Xiaomi has managed to sell one million handsets in below 6 months.

Jain created the announcement on Twitter, with a tweet that listed the 3 models that are sold-out in Republic of India since the company\'s entry into the market - the Xiaomi Mi three, Xiaomi Redmi 1S, and also the Xiaomi Redmi Note.

The firm\'s novel flash sale system, although ab initio hated, quickly found adopters lining up to grab a smartphone for themselves. whereas the primary flash sale within the Indian marketplace for the Mi three saw 100,000 registrations, the corporate saw its entire inventory of ten,000 units on Flipkart quit of stock among forty minutes. The second sale showed the demand for the smartphone, and also the temperament to use Xiaomi's flash sale system, with 10,000 units claimed to travel out of stock in five seconds.

The Xiaomi Mi three flash sales set a trend within the Indian market, and whereas different makers did not develop the system till Micromax this month with the Yu Yureka smartphone, they need become way more candid revealing the quantity of units they've sold-out, if solely to confirm shoppers do not associate such figures solely with Xiaomi.

Xiaomi next launched the Redmi 1S in Republic of India, and at its sub-Rs. 10,000 price, appealed a good deal additional to shoppers within the country. The Redmi 1S smartphone has seen many sales since its initial flash sale in Sept, with every being in the middle of a claim that such a large amount of units went out of stock in thus few seconds. maybe the foremost dramatic of those sales was in october, where a Million Redmi 1S smartphones went out of stock in four.2 seconds.

The third smartphone to be launched in Republic of India by Xiaomi was the Redmi Note (3G variant), that saw its initial flash sale on Dec 2 and had 50,000 units go out of stock in half-dozen seconds.

Of course, all isn\'t rosy in Republic of India for the Chinese smartphone whole, with Xiaomi recently being cuffed with an injunction order by Delhi tribunal that illegal it from vital and marketing its handsets within the country until february , the date of succeeding hearing. The injunction was passed on a plea by Ericsson to prevent sales of Xiaomi smartphones in Republic of India as they infringed on eight of its patents (including standard Essential Patents) touching on AMR, EDGE and 3G technologies.

Xiaomi but one a reprieve shortly once, and was allowable by the Delhi tribunal to import and sell its smartphones until Jan eight in Republic of India that used Qualcomm chipsets, as these didn't infringe on Ericsson's patents. This saw the corporate bring back the Redmi 1S on sale in the week, and proclaimed the beginning of sales of the Redmi Note 4G next week.

SpiceJet share go up on proposed revival plan

Shares of SpiceJet surged 9% on weekday following reports that the budget carrier would submit a revival arrange to the govt on the idea of a planned investment of $200 million from founder promoter Ajay Singh and US-based JP Morgan Chase. 

SpiceJet's certificate jumped 9.07 per cent to settle at Rs 19.25 on the BSE sensex. throughout the day, it gained 11% to Rs 19.60.  

In terms of volume, 311.76 large integer shares of the corporate modified hands on the BSE sensex throughout the day. 

SpiceJet would submit a revival arrange to the govt nowadays on the idea of a planned investment of $200 million from origination promoter Ajay Singh and US-based JP Morgan Chase, official sources had said yesterday. 

The potential investors square measure doubtless to shop for stake from current promoter Kalanithi Maran by infusing $200 million inside a month to assist the airline keep afloat. Besides Singh, a fund managed by JP Morgan Chase would even be one amongst the investors, official sources had aforesaid. 


The no-frill carrier's dues to vendors, aerodrome operators and oil corporations had big from Rs 990 large integer to Rs 1,230 large integer between Nov twenty four and Dec ten, as per information provided by the airline to the Civil Aviation Ministry.

MRF Net Profit Raises

Tyre maker MRF Ltd the day past announce 72.14 per cent increase in net income at Rs 316.91 crore for its fourth quarter finished Sep 30, on account of strong sales.

The company had announce a net income of Rs 184.10 crore in 2012-13 financial year.

Net sales of the corporate rose to Rs 3,359.91 crore for the fourth quarter, 2013-14, as against Rs 33,145.70 crore within the same period.

MRF follows September-October period.

The Chennai-based tyre manufacturer announce a net income of Rs 897.89 change for its yr finished Sep 30, up 11.92 per cent from Rs 802.21 crore in 2012-13. 

Net sales rose to Rs 13,189.73 crore for 2013-14, as against Rs 122.79 crore within the previous business enterprise.

The MRF's board, that met nowadays, suggested a final dividend of Rs 44 per share on the paid capital as on Sept 30, 2014.

The tyre maker has already paid 2 interim dividends of Rs three every per share throughout the year.

MRF certificate closed at Rs 33,010.65, up 4.14 per cent, on the BSE.