After suffering from worst rain and flood situation in 100 years Chennai Airport is set to resume its services on Sunday 6th of December 2015. The airport was closed on Wednesday night due to heavy rain and water lodged runway.
“The DGCA has termed it fit and day-time operations will begin from tomorrow morning. We are working resume night-time operations too in a couple of days,” a senior civil aviation ministry official told ET. As per the standard procedure a notice to airmen or NOTA has been issued.
The Airport is ready as the water has been drained but the flight equipments need to checked before the start of operation.
HDFC bank has said that it beginning to see green shots in Corporate loans as the companies started to borrow and spend again after two years . With governments current focus on Make in India campaign and reduction in bureaucracy or red tape culture has shown a positive demand in the market .According to Managing Director Aditya Puri he sees an early recovery of money among automobiles . telecom and consumer goods.
“This is more working capital (demand) at the beginning, but we are starting to see term loan growth in the last month or two,” he said in an interview at the bank’s Mumbai headquarters.
He is optimistic on the current market sentiment and that he sees his bank 5 – 6 points ahead of other competitors. “There is no need to go up the risk ladder or down the margin ladder,” he said, adding HDFC Bank focuses on India’s “middle and upper middle”.
State owned aviation company Air India was forced to ground two 747 dreamliner aircrafts despite of a $4.5 billion bailout from the government. The planes were grounded because of lack of spare parts and was not able to cover the repair cost of these aircrafts. In a statement given to the Indian parliament , Junior Aviation Minister Mahesh Sharma said that due to financial crunch the engineering department was not able to buy relevant parts from Japan and was paying an additional parking of $1 million every month for past 10 months.
The carrier has been in losses from the day it was merged from Domestic Carrier Indian Airlines. It amounts to 35% of the total market share and is facing stiff competition from other carriers like Jet Airways and Indigo Airlines.
Kishore Biyani lead future group is in talk with various strategic investors to rise 300 crore for the FMCG business. As per reports two Belgium based company Verlinvest and Arisaig has decided to invest in the CO in the near future. Both these companies hold 10% of the comapny. Kishore Biyani , the man behind the retail revolution of the country has focused majorly in retail sector in recent years.
The company has recorded a net growth of Rs 447 crore for the quarter ended in September this year . The company has grown by 52% in this quarter which is a good sign for the company. Company’s flagship brands like Sunskrit and Harvest has also shown growth. The group has launched a series of new brands and flour based foods which have been a huge success in recent times.
It will be interesting to see when and where the investment would take place and what will be the future of the company.
In a move to help those who are struck in the worst floods in the country , Paytm has decided to do their bit. The company has planned to recharge Rs 30 worth of talktime free of cost for anyone living in Chennai. The southern financial and Tech hub of the country is suffering from the worst floods ever and survival has been difficult for those who have been stuck.
This is the third internet company to do the bit after OLA and Zomata . OLA offered free OLA boats to take out people stuck in the flood affected regions. Zomato offered free meal to people who ordered through the app.
According to a blog from Paytm the company said “If you would like to recharge anyone’s mobile number so that they can remain connected during this tough time, please call us at 18001030033 and share the mobile number. We will recharge it with Rs.30 worth of talk-time, free of cost”.
Gestures like these are a good initiatives by companies to help those in need.
Sales of Volkswagen cars have slumped as low as 20% after the diesel emission scandal. According to a report all the cars under the iconic brands have been hit badly. In a report from Britain’s Society of Motor Manufacturers and Traders new car registration increased by 3.8 % to 178, 873 I November but the Volkswagen brand of cars were badly hit. Sale of Audi brand of cars dropped by 4%, Skoda dropped by 11% and Seat was down by a whopping 24% in recent times.
The dent in the brand of Volkswagen will be difficult to recover as the car maker admitted falsifying carbon dioxide emissions deepening the biggest corporate scandal.
Other manufacturer like Ford and Vauxhall also showed a major drop in sales. The controversy has hit the market overall and the chance for its recovery is grim.
“November’s sales might have been boosted by some consumers delaying their purchases from October when the VW emissions scandal hit the headlines” said Samuel Tombs at Pantheon Macroeconomics said in a note.
Bihar government has decided to ban all kinds of Liquor in Bihar from 1st of April 2016. The newly formed government under Nitish Kumar decided to ban both Indian and Domestic brands in the state. Increase in consumption of liquor was a major cause for domestic violence among children and women in the state. The move would cause a serious dent to state’s revenues as the ban would reduce the tax received from liquor excise . as per reports the government rakes more than3,650 crore as the excise tax from liquor and other trades.
The move is concurrent to Nitish government promise of Healthy and Clean state. The move has been criticized by many critics as they believe that the ban would increase the black market of liquor across the state which can subsequently increase the black money laundering .
KING ABDULAZIZ INTERNATIONAL AIRPORT , Middle East’s most talked about airport is set to open in mid of year 2017. According to reports , first phase or the 80% of the work has been completed and the airport will be ready for operation by 2017. The new airport can handle 30 million passengers at a single time. It will be one of its kind airport with 720,000sqm terminal will have 46 gates to handle the growing rush of air passengers in the region.
The Airport will have five business lounges and 28000 sqm of retail , f/b space. The airport will also have a mosque which will be able to hold 3000 worshipper. Among other features the airport will have a 120 room four star hotel , a railway station and parking facilities to hold upto 2,36,000 cars.
The second phase of the development will raise the capacity to 55 million passengers while the final phase can accommodate more than 80 million passengers.
One of the biggest investment program by Bentley , Bentayga has been launched. The company manufactured the first car from its assembly in Crewe, UK . Customers can receive the car from early next year once the company finishes the testing and other approval procedures by later this month. The product will be the best in its class and the company reportedly announced that the project would crease around 1500 jobs in UK.
“Bentley Bentayga will be the benchmark against which all other SUVs are measured, defining a new segment – the luxury SUV”, Chairman and Chief Executive of Bentley Motors Wolfgang Darheimer said in a statement.
The first Bentayga was painted in Anthracite color and its took 13 hours for the handicraft experts to do the job. The model is said to be one of the toughest SV model being produced by the company in recent times.
There was a huge applause when the first car was launched as the Prime Minister David Cameroon said “I am delighted that the first Bentley Bentayga has rolled off the production line in Crewe. It marks the culmination of a period of exceptional hard work by Bentley and its dedicated workforce as they brought this remarkable new vehicle to market.”
Daimler’s Mercedes Benz had a great festive season this year as its SUV sales reached its pole . The demand for SUV for as its peak globally while there was a good demand for compact vehicles. The global delivery of the brand rose by 7.4 % to 161,953 vehicles in 11 month period. The company has beaten the previous year record by a good margin.
The demand for SUV was also seen in other Asian and South Eastern countries like China and Singapore. The company recently launched its AGS model this month and hopes to pin down the high end domestic market.