Jetstar to fly to Kolkata

Singapore: Jetstar Asia is organising a conference of small and medium-sized corporations in Kolkata to mark its inaugural flight to the Indian city, organisers said. The Qantas associate, which recently merged with rival Valuair, has tied up with the FICCI and the Global Indian Business Network for the meet in conjunction with the first flight on August 18. — DPA

Bush inks energy pact

WASHINGTON: Just as oil prices reached yet another record, president George W Bush signed a sweeping energy law that is supposed to reduce US dependence on foreign oil. Oil prices blasted through the $63 a barrel mark yesterday and later scratched $64 a barrel, suggesting the energy bill will do little to bring down the high prices Americans pay at the petrol pump. “This bill is not going to solve our energy challenges overnight,” Bush said. — DPA

Low inflation rate

Dhaka: After India, Bangladesh has the lowest rate of inflation ahead of Pakistan and Sri Lanka in the South Asian region, reports Xinhua. Bangladesh has maintained a moderate inflation rate during the last few years despite the rise in prices of various commodities in the international market, the Bangladesh Observer reported on Tuesday. — HNS

Telstra privatisation

CANBERRA: Prime Minister John Howard will meet with the new head of Telstra Corp on Thursday to discuss the government’s plans to privatise Australia’s largest telecommunications company. Howard will explain the privatization proposal to Sol Trujillo, who became Telstra’s chief executive on July 1, in the national capital Canberra. Trujillo will be given an opportunity to present his plans for the company’s future. — AP

China Mobile profits

HONG KONG: China Mobile (Hong Kong) Ltd, the Hong Kong-listed unit of China’s largest mobile network, said on Wednesday its first-half net profit rose by 28 per cent, with nearly 20 million subscribers joining during the period. Net profit for the six months was $2.96 billion up from a year earlier. Revenue for the period rose to $14.12 billion. — AP