India, Nepal inaugurate cross border oil pipeline

Indian Prime Minister Narendra Modi and his Nepalese counterpart, Khadga Prasad Oli, hit the switch simultaneously to open the anticipated oil pipeline. (File/AFP)
Updated 10 September 2019

India, Nepal inaugurate cross border oil pipeline

  • The two leaders hailed the pipeline as another step in the friendship between the two nations
  • Nepal imports all of its oil products from India

Katmandu, Nepal: The leaders of India and Nepal have inaugurated South Asia’s first cross country oil pipeline, allowing the Himalayan nation of Nepal to receive an uninterrupted supply of oil from its large southern neighbor.
Indian Prime Minister Narendra Modi and his Nepalese counterpart, Khadga Prasad Oli, hit the switch simultaneously Tuesday from their offices in New Delhi and Katmandu to open the 69-kilometer (43-mile) pipeline, which will bring gasoline, diesel fuel and kerosene across the border to Nepal.
The two leaders hailed the pipeline as another step in the friendship between the two nations.
Nepal imports all of its oil products from India. Disturbances in the border area have in the past led to disruptions of the supply.


British Airways burning through cash, CEO urges unions to engage

Updated 2 min 32 sec ago

British Airways burning through cash, CEO urges unions to engage

  • Job losses necessary as cash reserves of IAG, British Airways’ parent company, would not last forever

LONDON: The boss of British Airways said its parent company IAG was burning through $223 million a week and could not guarantee its survival, prompting him to urge unions to engage over 12,000 job cuts.
British Airways came under heavy attack from lawmakers in parliament on Wednesday, who accused it of taking advantage of a government scheme to protect jobs while at the same time announcing plans to cut its workforce by 28 percent.
Planes were grounded in March due to coronavirus restrictions, forcing many airlines to cut thousands of staff as they struggle without revenues. Airlines serving Britain now face an additional threat from a 14-day quarantine rule.
In an internal letter to staff seen by Reuters, Alex Cruz, the chief executive of British Airways said the job losses were necessary as IAG’s cash reserves would not last forever and the future was one of more competition for fewer customers.
BA also wants to change terms and conditions for its remaining workers to give it more flexibility by, for example, making all crew fly both short and long-haul.
Cruz said IAG, which also owns Aer Lingus, Iberia and Vueling, was getting through $223 million a week, meaning that it could not just sit out the crisis. The group had €10 billion of liquidity at the end of April.
“BA does not have an absolute right to exist. There are major competitors poised and ready to take our business,” Cruz said in the letter.
He urged two unions which represent cabin crew and other staff, GMB and Unite, to join in discussions to mitigate proposed redundancies. Pilots union BALPA is “working constructively” with the airline, he added.
Cruz also joined other airline bosses in criticizing Britain’s quarantine rule, due to come into effect on June 8, calling it “another blow to our industry.”