Adani Ports in pact with French co for container terminal
Adani Ports & SEZ ltd on Friday signed a pact with France's CMA CGM Group to develop a container terminal at Mundra Port that entails an estimated investment of Rs 2,100 crore."This will be the 4th Container Terminal in Mundra capable of handling 1.3 million TEUs (twenty-foot equivalent unit) annually," Adani Ports & SEZ said in a statement.According to sources, total investment for setting up this terminal is estimated to be Rs 2,100 crore in 50:50 joint venture partnership.The construction phase will be initiated immediately and completion will be in 24 months, the statement said.The project comprises design and construction of a 650-metre terminal along with 27 hectares of back area with a water depth of 16.5 metres.This terminal will initially have four units of 65 tonne capacity of handling 18,000 TEU vessels and Ultra large Container Vessels.
Boeing outpaces Airbus in plane orders: data
US aerospace group Boeing left European rival Airbus in its slipstream when booking new plane orders in the first half of the year, figures released on Friday by Airbus showed.Boeing had reported a net 499 new orders between January 1 and June 30, including 54 cancellations. Airbus meanwhile suffered 225 cancellations, limiting it to 290 net aircraft orders in the six-month period.Boeing was slightly ahead in terms of deliveries as well, with 342 new planes flown to clients, compared with 303 for Airbus.
The two groups dominate the global market for passenger airliners and their orders give a good idea of how the civil aviation sector is faring.
AI puts up 5 more Dreamliners for leaseback
Air India will sell and lease back five of its new Dreamliners as part of cost-cutting measures and save substantial sums to pay off the bridge loans it has taken against these aircraft, official sources said.The national carrier has issued a tender inviting bids for the sale and leaseback of five Boeing 787-8 Dreamliners, which were delivered between August 26 last year and January 28 this year, the bid document said.leaseback, short for sale-and-leaseback, is a financial transaction where one sells an asset and leases it back for the long-term. Hence, one continues to use the asset but no longer owns it.
Arogya Finance Extends Collateral Free lending to Kolkata
Over 40 million Indians are pushed below the poverty line every year because of the effect of out of pocket spending on health care. In Kolkata, the situation continues to worsen day by day as the needy are unable to even afford basic health check ups, let alone any medical procedures, thus facilitating the odds for spread of diseases, poor healthcare and increasingly unhealthy people.With these odds in mind, Arogya Finance was conceptualized with the aim of forming a new interface between healthcare providers and those who cannot afford their services to combat the problems faced by theneedy.
European regulator tells banks to shun Bitcoin
Europe's top banking regulator on Friday called on the region's banks not to deal in virtual currencies such as Bitcoin until rules are developed to stop them being abused.The European Banking Authority (EBA) said it had identified more than 70 risks related to trading in virtual currencies, including their vulnerability to crime and money laundering.The london-based body in a statement advised European financial institutions against "buying, holding or selling virtual currencies while no regulatory regime is in place".