Interlinking Rivers (ILR) to Boost Business
The 14th RAHSTA Expo, part of the India Construction Festival, will be held on October 9 and 10, 2024, at the Jio Convention Centre in Mumbai. For more details, visit: https://rahstaexpo.com
SpiceJet Raises Rs.3,000 Crore Via QIP
SpiceJet announced raising Rs 3,000 crore through a Qualified Institutional Placement (QIP) that closed on September 18. The QIP attracted overwhelming interest from prominent institutional investors, reflecting strong confidence in the airline's growth potential. Key investors included Goldman Sachs Singapore, Morgan Stanley Asia, BNP Paribas, Nomura Singapore, and Tata Mutual Fund. In addition to the QIP, the airline will receive Rs.736 crore from a prior funding round, further enhancing its financial position. The funds will be utilized to operationalise grounded aircraft, acquire new plan..
India’s Exporters Face Freight Challenges
India’s exporters are grappling with steep freight rates, container shortages, and limited shipping space, according to foreign container shipping lines. While freight rates have eased, dropping by 30-40% for shipments from India’s east coast to Europe and the U.S., exporters continue to face hurdles. Freight rates to the U.S. are now between $4,300 and $4,500 per twenty-foot equivalent unit (TEU), down from $5,500-$6,000, while rates to Europe have decreased to $3,000-$3,200 per TEU. These reductions are partly due to the conclusion of the Christmas season cargo rush, where large volumes..
Minister Stresses Aviation Safety and Psychology
As the Indian aviation sector grows rapidly, with over 1,200 new planes on order, Naidu called for the development of formal programs in aviation psychology. He stressed the need for robust stress and fatigue management systems, particularly for pilots, to ensure continued safety. According to Naidu, psychological and technical skills are crucial in adapting to the sector's rapid growth. The minister also pointed out the necessity of continuous skilling and upskilling for aviation professionals, particularly in maintenance and operations, to keep pace with the growing demand for air travel in ..