Air India on Friday said it has completed the acquisition of its first A350-900 aircraft by way of a finance lease transaction with HSBC through the GIFT City.
This is also the first wide body aircraft to be leased through the GIFT City, the country's first International Financial Services Centre (IFSC).
In a release, the airline said the transaction was facilitated by its wholly-owned subsidiary AI Fleet Services Ltd (AIFS) and is also the first financing transaction from the orders for 470 aircraft that were made earlier this year.
Tata Group-owned Air India, which has embarked on an ambitious transformation plan, expects the first A350-900 aircraft to arrive in India by the end of this year.
According to the release, the airline has successfully acquired India's first Airbus A350-900 aircraft through a finance lease transaction with HSBC.
"This landmark transaction marks the beginning of our aircraft leasing business from GIFT IFSC, as AIFS will be the primary Air India Group .

Air India

The six units being planned to be listed are Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Steel and Ferrous Materials, Vedanta Base Metals and Vedanta Limited

Vedanta

The counter that hit a 52-week low of Rs 42.39 on August 29, 2023, traded at a record low of Rs 37.96 in March 2009. It had hit a record high of Rs 581.24 in December 2007

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Shares of GMDC hit a record high of Rs 323.70 as they rallied 14%, surpassing its previous high of Rs 316.18 touched on November 12, 2007

Lignite

1 out of every 25 shares from the Nifty 500 index has more-than-doubled investors wealth in 2023 so  far, with Apar Industries, Mazagon Dock and JBM Auto as the top movers.

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Axis Bank Vistara credit card, American Express Platinum Travel card, and SBI ELITE card credit have emerged as top-preferred among travellers.

Credit card, security, cyber security

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External Affairs Minister S Jaishankar

A proposed early-stage trade deal is in jeopardy, potentially hurting India's efforts to woo the West and serve as a supply-chain alternative to China

India Canada

The registration plan comes after the Centre decided to delay the requirement of licenses for such imports

laptops, laptop imports

The report suggests that demand for Rupay credit cards went up by 37 per cent on quarter in the July-September period across India's 706 small towns and cities.

Credit card

The century-old Roshanara Club in Delhi - the cradle of Indian cricket - was on Friday sealed by the Delhi Development Authority, which also took possession of the historic club, officials said.
The action was taken in the early hours and comes nearly six months after an "eviction notice" was served on the club by the DDA as its lease had expired earlier, a senior official said.
The historic club was established on August 15, 1922 and had turned 100 last year.
Endowed with natural beauty, green pastures and colonial-era charm, Roshanara Club, located in north Delhi, has emerged as one of the most prestigious clubs in the country.
"Following court orders, that inter alia upheld its eviction order dated, 12.04.2023, the Delhi Development Authority today evicted and took possession of the premises of Roshanara Club Ltd, the leases for which had expired 11 years back in 2012 and six years back in 2017," the DDA said in a statement.
This action was taken under provisions of section 5 (

Roshanara Club

Here is the best of Business Standard's opinion pieces for today

Big Tech

Tata Steel on Friday commissioned a 10.8-MW capacity floating solar power project on the upper cooling pond of its Jamshedpur plant in Jharkhand.
A total of 20.34 MW of solar projects have been commissioned in various facilities at Tata Steel in Jamshedpur, the company said in a statement.
The floating solar project was commissioned by Tata Power under an agreement with the steel major for the installation of a total of 41MW with a combination of rooftop, floating and ground-mounted solar panels across its locations.
Earlier, rooftop solar projects at the central warehouse, cold rolling mill, wire rod and hot strip mills, totalling 7.65 MW and a 2 MW ground-mounted solar project at Sonari Airport have already been commissioned.

Solar Energy, Renewable Energy, Green Energy

He said that the way the Indian Diaspora welcomed him with Uttarakhandi customs and musical instruments at Heathrow Airport, was in itself a special experience

Pushkar Singh Dhami

Global private equity firm Advent International on Friday announced a new board and management of Suven Pharmaceuticals after completing the acquisition of a majority stake in the domestic drug maker.
Suven Pharma will be led by a management team comprising Annaswamy Vaidheesh (Executive Chairman), Dr V Prasada Raju (Managing Director) and Dr Sudhir Kumar Singh (Chief Executive Office), Advent International said in a statement filed on BSE by Suven Pharma.
In terms of the Board of Directors, along with Vaidheesh and Raju, Pankaj Patwari, Managing Director at Advent, will also join the team, it added.
Suven will also have three independent directors - - K.G Ananthakrishnan, Ex-MD MSD India and Ex-Director General of OPPI, and Chairman of PNB; Matangi Gowrishankar, Ex-BP Global Head of Capability Development, and Ex-Director of Human resources, Castrol India, Strategic Advisor and Certified coach; Vinod Rao, former head of investor relations at Diageo and ex-CFO PepsiCo Asia ...

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DDA seals, takes possession of century-old Roshanara Club in Delhi

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