Adani group on Tuesday said it has taken over the management of Mumbai International airport from the GVK group. The group last August had announced that it would acquire GVK Group's stake in Mumbai airport. Adani group will have 74 per cent stake in Mumbai's Chhatrapati Shivaji Maharaj International Airport, post the stake purchase transaction, with 50.5 per cent being bought from GVK group and 23.5 per cent from minority partners including Airports Company South Africa (ACSA), and Bidvest Group, it had said.
Power and money are at the heart of the sordid story -- and it isn't over yet.
The good news for PepsiCo is that the foods segment has normalised much faster to pre-pandemic levels than beverages.
That would reverse the growth trend of around 11 per cent per annum, which the industry has logged over the past ten years, making it one of the most adversely-affected sectors of the economy.
Leading property developers, such as Oberoi Realty, Tata Realty and Infrastructure, and Hiranandani, have turned to redevelopment of existing buildings in the expensive parts of Mumbai as a way of augmenting revenue. Experts estimate that Mumbai's redevelopment projects could be worth Rs 30,000 crore. As such, they are not new. What is new is that the big developers are interested in them. Leading the race is Oberoi Realty, which has set up a separate team for these projects.
If there were an Olympics for bank frauds in India, Rishi Agarwal, founder and former chairman of ABG Shipyard Ltd, a nephew of the Ruia brothers of the Essar group, would bag the gold, pushing Nirav Modi to his right, says Tamal Bandyopadhyay.
Experts attribute the lower target to increased allocation under the credit guarantee scheme for small businesses. Out of the Rs 3.21 trillion worth loans sanctioned under the Pradhan Mantri Mudra Yojana (PMMY) in the last financial year, Rs 3.12 trillion were disbursed to entrepreneurs, according to official data.
The first commercial flight from Pakyong would begin from October 4.
Govt to review decision after demand assessment.
West Indies opener Lendl Simmons smashed a breezy 67 not out to help secure a series-levelling eight-wicket victory over India in the second Twenty20 International
The recent Cabinet approval to private and greenfield airport policies has enhanced the powers of the Directorate General of Civil Aviation (DGCA), which is now one of the key licensing authorities for almost all future airport projects in the country.
'This will have a multiplier effect in generating more jobs.'
How can we compare say an upcoming Munjal University to an IIT-Mumbai?
'When the government wants to sell these assets, even if one set of assets gets caught in any quagmire, the whole process will fail.' 'The entire world is watching us.'
Two new venues, Thiruvananthapuram in Kerala and Barsapara in Assam are in contention to host international matches during the home season in which India are set to play a record 23 international matches at home between September and December.
With average capacity utilisation now touching 76 per cent, Indian companies are going back to the drawing board to add capacity but the plans to build new factories and plants are still some months away.
While the lender has Rs 17,000 crore of retail assets and land parcels in Juhu, Borivali, Worli, and Chembur in Mumbai, there may be a disconnect between the quality of DHFL's books and the value bidders ascribe to it.
Hyderabad-based Gold Stone Group, which sells BYD buses in the country, is setting up a greenfield manufacturing facility at a cost of around Rs 200 crore
'We completed Rs 17 trillion worth of projects in the first term and currently Rs 9 trillion worth of contracts are under construction.'
Newer asset classes such as data centres and rental housing gained prominence among investors.
The UGC defended Jio Institute's inclusion on the grounds that it was selected under rules for greenfield institutions. According to officials, 11 such institutions had applied for the IoE tag and Jio was selected from among them.
The Council adopted the resolution proposed by France, the United Kingdom and the United States with 13 Council members voting in favour and Russia and China abstaining.
India captured four wickets to reduce South Africa 'A' to 179 for 9, who go into day four with a paltry lead of 40 runs in the second innings.
No longer Bengal's finance minister, Amit Mitra, Mamata's principal chief advisor, will still advise and aid the 'chief minister and finance department on all matters relating to management of state finance', represent the 'state government in national and international events/meetings/committees' and examine 'important proposals/files and policy issues relating to financial matters referred to him for advice/views'.
Zomato has the potential to be an equally important milestone for Indian equity markets, notes Akash Prakash.
Apart from around 40 Japanese companies and five global vendors of MG Motor India, many other biggies are eyeing Gujarat for either greenfield opportunities or brownfield expansion.
Experts point to the higher contribution of rural from the north for the growth reported by the region, a point endorsed by companies who've been pushing their presence aggressively there.
Despite higher gross additions, growth in overall customer base has been tepid for these companies, says Debasis Mohapatra.
Danish beer giant Carlsberg is all set to commence production from its 2 greenfield breweries - one each in Aurangabad & Kolkata. Carlsberg together with beer major Heineken is part of the $11 bn global takeover of British brewer Scottish & Newcastle, which has 37.49% stake in Mallya's United Breweries. Heineken is also planning to launch its flagship beer brand Heineken in association with Asia Pacific Breweries. Total beer market in India is valued at 8 million hectolitres.
The new greenfield airport at Navi Mumbai will come up at the proposed site and not be shifted elsewhere. Maharashtra Chief Minister Vilasrao Deshmukh has also written to the Civil Aviation Ministry for building the airport at the originally proposed site. There had been demands to shift the proposed Navi Mumbai airport to a new site due to environmental issues. The regulator would look into aspects like aeronautical charges, user development fee and passenger fee.
To counter the pandemic, air transport was suspended from March 25 till May 24 which rendered zero traffic at AAI airports. Even after resumption of flights, traffic is yet to pick up at airports due to quarantine measures implemented by states and an overall fear of flying.
The pandemic has brutally highlighted the inadequacy of India's administrative systems. And, the government has demonstrated its culpable inability to speed up vaccination in a timely manner, says Jaimini Bhagwati.
Given the gestation period for regulatory clearances it is not possible to share any definite timelines.
Glastonbury Festival, the largest greenfield music and performing arts festival in the world, is underway.
A new greenfield airport will come up at Sriperumbudur and Tiruvallur taluks near Chennai, while there are expansion plans for the existing airport at Meenambakkam, according to Tamil Nadu Chief Minister M Karunanidhi.
The company will raise $1.8 billion for the under construction and contracted portfolio of 12 GW, which includes the country's first manufacturing-linked solar power plant of 8 GW.
While seven companies bagged orders worth Rs 42,000 crore, industry experts said most of this new order activity was a spillover, and fresh project finalisation remains weak.
All airport projects including greenfield projects would require environmental clearance, according to the new draft National Environment Policy.
DP World (formerly known as Dubai Ports) is keen on setting up a greenfield airport in West Bengal near Kolkata, which is a long standing demand of the ruling Left Front government.
Here's a glimpse of all that happened around the world last week in images.
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