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China’s investment in highways, waterways up 2.9 pct in Jan.-Nov.

Loknath Das

BEIJING, Dec. 22 (Xinhua) — China’s fixed-asset investment (FAI) in highways and waterways registered steady growth in the first 11 months of the year, official data showed. Total FAI in highways and waterways reached 2.16 trillion yuan (about 294 billion U.S. dollars) during the January-November period, a year-on-year growth of 2.9 percent, according to statistics from the Ministry of Transport. Specifically, investment in inland rivers expanded 7.5 percent to reach 54.75 billion yuan, while that of highway construction recorded a growth rate of 1.9 percent to 2.02 trillion yuan during…

After roads, tailwinds favour private sector investment in airports

Loknath Das, , , , , , ,

Recently, Zurich Airports International AG won the bid to develop and operate the Jewar airport near Delhi for 40 years. The Swiss firm’s bid to share revenue of ₹400.97 per passenger with the Airports Authority of India (AAI) beat competition by a wide margin. But keen participation by leading business firms such as Adani Enterprises Ltd, Delhi International Airports (GMR Group) and international firm Anchorage Infrastructure Investments Ltd shows the rising private sector interest in airports. Naveen Kumar Saini/Mint This follows the recent deal by Tata group with Singapore’s sovereign wealth fund GIC…

Exclusive: Sachin Bansal on his investment strategy, his special interest in finance and the sectors he is bullish about

Loknath Das, , , , , , , , , , , , , , , ,

Flipkart co-founder Sachin Bansal, who has turned a devout investor after his exit from the ecommerce company, has turned his attention to the financial services sector. Bansal recently became CEO of Chaitanya Rural Intermediation Development Services, an NBFC focused on providing microfinance to lower economic groups in rural areas after he acquired a 90 percent stake for more than $100 million. Bansal, 37, told CNBC-TV18 in an interview that he is looking at a “long-term stint” at Chaitanya India Finance.  “Chaitanya is a 10-year-old company with a target of lower-income…

Germany’s Merkel pledges 1 billion euros investment in India on eco-friendly urban mobility

Loknath Das

German Chancellor Angela Merkel on Saturday pledged to invest 1 billion euros over the next five years on environmentally-friendly urban mobility in India. Merkel, whose visit to the country coincided with one of the worst spells of air pollution in Delhi/NCR, also emphasised on the need to replace diesel-run public transport with electric vehicles. “We have agreed to co-operate on climate protection and green urban mobility and have earmarked 1 billion euros towards this,” Merkel said at an event here. Germany would also put in 200 million euros to reform…

Understanding the investment slowdown

Loknath Das, ,

The public sector had a secondary role to play, which, however, had increased in scope during this period. The investment rate in the country has been declining quite significantly over the last six years or so. The gross fixed capital formation (GFCF) rate had peaked at 34.3% in FY12 and then came down to 28.6% in FY18, before registering a marginal recovery to 29.3% in FY19. The story is still an enigma because in the last few years various states have held investment extravaganzas where several MoUs have been signed—for…

Kashmir on edge: Most tourists cancel travel plans, airlines cap flight ticket prices

Loknath Das, , , , , , , , , , ,

The turmoil in Kashmir has not only cut short the travel plans of pilgrims and tourists currently visiting the state, but also thrown a spanner into upcoming travel plans for the long Independence Day weekend. According to Tourism Kashmir Director Nissar Wani, about 20,000-22,000 tourists were in Kashmir on Friday when the Jammu and Kashmir (J&K) administration issued an advisory asking Amarnath Yatris to cut short their pilgrimage and all tourists to leave Kashmir Valley at the earliest, citing terror threats. As per reports, only a little over 1600 tourists…