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Airports Authority of India to raise $300 mn to fund new infrastructure


With an intent to step up investments in capacity expansion of airport infrastructure in the country, the Airports Authority of India(AAI) has decided to raise $300 million through External Commercial Borrowing (ECB) route next year as part of the proposed five-year outlay with Rs 25,000 crore starting this year. The board has already approved the move, according to its chairman Arvind Singh.

The airport authority aims to spend a minimum of Rs 5,000 crore each year on the infrastructure in line with the government’s announcement that 100 new airports will be developed in five years in addition to the 48 airports newly operationalised in the past four years.

“Once these projects are completed the passenger capacity of the AAI-run airports will grow more than double to 700-750 million as compared to 350 million passenger capacity as we go for expansion, up-gradation and greenfield development,” Arvind Singh said on the sidelines of Wings India summit here on Friday.

The capex on airport infrastructure was supposed to be in the range of around Rs 4,000 crore last year as compared to around 2,500 crores in 2017-18 while the AAI’s current

Domestic passenger vehicle sales fall 7.6% in February, says Siam


Domestic passenger vehicle sales dropped by around 7.61 cent to 251,516 units in February from 272,243 units in the same month a year ago, according to the Society of Indian Automobile Manufacturers (SIAM) data.

Passenger car sales were down by 8.77 per cent to 156,285 units against 171,307 units in February last year. The decline in wholesale dispatches is primarily due to the economic slowdown and lower production of

Total two-wheeler sales in February fell 19.82 per cent to 12,94,791 units compared to 16,14,941 units in the same month last year. Sales of commercial vehicles were down 32.9 per cent to 58,670 units in February against 87,436 units in the same month last year, said.

Vehicle sales across categories registered a decline of 19.08 per cent to 1,646,332 units from 2,034,597 units in January 2019, it said.

Rajesh Menon, director general, said that the automobile industry continues to face hardship owing to steeper decline in production and wholesale dispatches in all segments in February 2020.

Rajan Wadhera, president, SIAM, said the decline in wholesale dispatches is primarily due to the economic slowdown and lower

Nearly one in four workers ‘think retirement will be a financial struggle’


Older workers are more downbeat about their chances of having enough money to enjoy themselves in retirement than younger employees, a survey has found.

Only one in seven people aged 56 to 65 think they will have enough cash to really enjoy their retirement, as do 12% of 46 to 55-year-olds, Aviva found.

This compares with nearly a quarter of 22 to 30-year-olds and 19% of 31 to 45-year-olds who are confident they will have enough put by to really enjoy their later years.

Across all age groups, nearly a quarter of workers believe their retirement is likely to be a financial struggle.

Automatic enrolment has brought millions of people into workplace pension saving, although there are concerns that people may not be putting by enough for a comfortable retirement.

In April 2019, minimum contributions will rise to 8% of earnings, including top ups from employers and the Government, although Aviva said just saving the minimum is unlikely to give people the pension pot they will need for a comfortable retirement.

Travelling, pursuing hobbies and giving money to children and grandchildren will be the top priorities for people when they do retire, the survey of more than 2,000 22 to

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