Finance Ministry Budget 2013’s first and foremost priority is to avoid ratings downgrade
RBI Governor Investments needed for growth. Government has to spend on capital expenditure & infrastructure.
New Delhi: Aiming to foster the airport monitoring facilities, the government plans to allot the management control of the new Kolkata and Chennai airports to global operators. The airports being built by the Airport Authority of India is expected to be allotted to the global operators through a competitive bidding process. “AAI can set up [...]
Manila: Philippines conglomerates namely Metro Pacific Investments Corp (MPIC) and JG Summit Holding Inc. (JGS), signed an agreement for joint venture, bidding for a project, which aims to further expand and operate the Mactan Cebu International Airport. A statement issued to the Philippines stock exchange highlighted that the joint venture—MPIC-JGS Airport Consortium Inc—between the two [...]
The Civil Aviation Ministry is likely to set up a new regulatory body—Civil Aviation Authority (CAA)—in order to replace the current Director General of Civil Aviation (DGCA). Ajit Singh, Civil Aviation Minister, highlighted that the draft note for the creation of new regulatory body has already been sent to the Law and Justice Ministry for [...]
Mumbai: State-run entity, Maldives Airport Company Ltd (MACL) has took over the operations of the controversial Male International Airport from GMR. The operational takeover was undertaken after the Indian major lost its legal battle over the unilateral termination of its $511 million airport modernization contract. “MACL has taken over the operations of Ibrahim Nassir International [...]
New Delhi: The government of India and the Islamic Republic of Afghanistan inked an memorandum of understanding (MoU) to facilitate training in the aviation sector. As per the MoU signed between the Ministry of Civil Aviation (India) and Ministry of Transport and Civil Aviation (Afghanistan), the Airport Authority of India (AAI) will provide training services [...]
Mumbai: After gaining the judicial support from the high court for its investment, GMR Infrastructure has decided to undertake all legal remedies to safeguard its Male contract. “All legal remedies to protect the US$511 million airport contract in the island nation will be undertaken,” said CEO of GMR Male International Airport Andrew Harrison. Moreover, the [...]
Male: Aiding an immediate relief to current operational pressure over the international airport, the Male High Court issued a stay in favor of GMR Male International Airport Pvt Ltd (GMIAL). “Both MACL and the Ministry of Finance & Treasury, pursuant to the notice issued on 27th Nov 2012 either directly or indirectly, are not allowed [...]
Male: GMR Male International Airport Pvt Ltd (GMIAL) has raised an issue of unilateral and irrational move by the Government of Maldives intending to overtake the possession and control of the Ibrahim Nassir International Airport. The government in its notice outlines the Concession Agreement (CA) granted to GMR Male as void. “This is an unlawful [...]
Kolkata: The Cabinet Committee on Economic Affairs (CCEA) sanctioned the revised cost estimate of Rs2325 crore for the modernization and expansion of Netaji Subhash Chandra Bose International Airport, Kolkata (NSCBI). The project also involves construction of an integrated terminal building. CCEA in 2008 after considering the approval from the Ministry of Civil Aviation had approved [...]
Mumbai: Owing to the direction given by Ajit Singh, Civil Aviation Minister to Airports Authority of India (AAI) to Infuse additional equity at Delhi and Mumbai Airports in Order to abolish Airport Development Fee (ADF), air travel fares are likely to decrease soon. At present, Rs200 per domestic passenger and Rs1300 per international passenger is [...]
Adani Ports Q4 net profit reaches Rs710.31 cr
NTPC posts 28.31% rise in net profit
Alstom T&D marks 17% rise in net profit for March quarter
DP World’s profit shoots up by 10%, registers $749 mn
Red Signal: Rail stocks slips post budget
Thermax reports Q3 revenue; net profit plunges 20%
