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News18
an hour ago
- News18
Indian Navy gets third survey vessel Ikshak
New Delhi [India], August 14 (ANI): Ikshak (Yard 3027), the third of four Survey Vessel (Large) ships, 102nd ship steered by the Indian Navy's Warship Design Bureau, built at Garden Reach Shipbuilders & Engineers (GRSE), Kolkata and overseen by Warship Overseeing Team (Kolkata) was delivered to the Indian Navy on Thursday, Ministry of Defence said on Thursday. The first ship of the class, INS Sandhayak, was commissioned on February 3, 2024 and the second ship, INS Nirdeshak, on December 18, 2024. The contract for four Survey Vessels (Large) was signed on 30 October SVL ships are designed and built as per the classification rules of the Indian Register of Shipping by M/s Garden Reach Shipbuilders & Engineers (GRSE), Kolkata. The ship aims at full-scale coastal and deep-water Hydrographic survey of Port/Harbour approaches and determination of navigational channels/routes. The ship will also collect oceanographic and geophysical data for defence and civil applications. With a displacement of about 3400 tons and an overall length of 110 meters, Ikshak is fitted with state-of-the-art hydrographic equipment such as Data Acquisition and Processing System, Autonomous Underwater Vehicle, Remotely Operated Vehicle, DGPS Long range positioning systems, Digital side scan sonar, etc. Powered by two diesel engines, the ship can achieve speeds in excess of 18 keel of the ship was laid on 06 Aug 21, and the ship was launched on 26 Nov 22. The ship has undergone a comprehensive schedule of trials in harbour and at sea prior to its has an indigenous content of over 80% by cost. The delivery of Ikshak is a reassurance of the impetus of the Government of India and the Indian Navy towards 'Aatmanirbhar Bharat'. The delivery of Ikshak is a tribute to the collaborative efforts of a large number of stakeholders, MSMEs and the Indian Industry in enhancing the maritime prowess of the nation in the Indian Ocean Region. Further, Ikshak is the first SVL Ship to be delivered with accommodation for women officers and sailors. (ANI)
News18
3 hours ago
- News18
EaseMyTrip Board approved three acquisitions to strengthen strategic presence
New Delhi [India], August 14 (ANI): EaseMyTrip, one of India's leading travel-tech platforms, has announced three strategic acquisitions to strengthen its end-to-end travel capabilities across both international and domestic markets, according to a company release. The company has:(a) approved acquisition of a 50% stake in Three Falcons Notting Hill Limited for its London's premium property, Three Falcons Hotel, through a secondary investment(b) approved acquisition of a 100% stake in AB Finance Private Limited for acquiring its premium commercial asset property in Gurugram, India at the upmarket Golf Course Road, through a secondary investment, and,(c) In-principally approved making a strategic investment in the proposed acquisitions to be done through share swap arrangement, EaseMyTrip will mark its entry into the international hospitality space with an investment in Three Falcons Hotel, a luxury boutique hotel located in the prestigious St John's Wood area of London, near Lord's cricket to cater to both business and leisure travelers, the hotel will facilitate EaseMyTrip to deliver experiential hospitality in one of the world's most influential tourism markets. The move comes at a time when the global hospitality industry, currently valued at USD 5.71 trillion, is projected to reach USD 7.23 trillion by 2029, presenting substantial growth other proposed acquisition of AB Finance will add a key asset to EaseMyTrip's domestic portfolio. Located at a prominent corporate corridor at the Golf Course Road, Sector 53, Gurugram, the commercial property is projected to support EaseMyTrip's expanding operations. It will offer the flexibility to accommodate EaseMyTrip's future business requirements, including office infrastructure expansion, as EaseMyTrip continues to scale its presence across in-principle approval to invest in VBIL, which is inter alia engaged in entertainment and real estate business activities is a strategic investment move of the Company.
Economic Times
3 hours ago
- Economic Times
Foreign capital inflows set to rise post S&P upgrade, borrowing costs to ease
Synopsis S&P's credit rating upgrade for India is poised to accelerate foreign capital inflows, particularly into the debt market, and reduce borrowing costs for the government and corporations. The upgrade reflects confidence in India's sound fundamentals, growth momentum, and improved fiscal management. Other rating agencies are expected to follow suit, further boosting investor confidence. ANI The latest upgrade will lower borrowing costs for both the government and corporates, according to an economist. Foreign capital inflows into India are likely to accelerate following S&P's recent credit rating upgrade, which is also expected to lower borrowing costs for the country, said Sonal Badhan, Economist at Bank of Baroda (BoB)."In both the short and long term, foreign capital inflows can be expected to be impacted positively, as the upgrade reaffirms trust in India's 'sound fundamentals' and 'growth momentum'. We are likely to see higher FPI inflows this year and a decline in bond yields," BoB Economist Told ANI. According to Badhan, India's recent credit rating upgrade by S&P is set to accelerate foreign capital inflows, particularly into the debt market, and lower borrowing costs for both the government and corporates, according to an RBI's Annual Financial Account data for Q2 of FY 2024-25 (July-September 2024) indicates that the Net foreign direct investment recorded an outflow of USD 2.2 billion, compared to an outflow of USD 0.8 billion during the same quarter in FY recorded provisional FDI inflows of USD 81.04 billion in FY 2024-25, marking a 14 per cent increase from USD 71.28 billion in FY 2023-24, according to the government data. "While there will be more room for the government to borrow, we believe it is unlikely that the government will make use of it. In the union budget for FY26, the centre had committed to gradually bring its debt-GDP ratio down, thus implying its intent to keep the borrowing program range bound," she added. "In the Union Budget for FY26, the Centre had committed to gradually bring its debt-to-GDP ratio down, implying its intent to keep the borrowing programme range-bound," the economist economist further added that the impact on borrowing costs is expected to be swift after the upgradation of the rating. "This will definitely help lower the borrowing cost for both government and corporates, as the rates for corporates mimic the trend in the G-sec market. The impact will be almost immediate, as we have already seen ~8bps decline in 10Y G-sec bond yields after the decision came," she added. Badhan further added that the upgrade is also likely to encourage other rating agencies, such as Moody's and Fitch, to follow suit. "We expect other rating agencies also to follow suit, as the upgrade has been long overdue. Indian economy has consistently performed well even amidst turbulent global environment and our central government fiscal deficit ratio has also consistently remained on track of consolidation, without compromising upon the impetus required to provide growth a boost," the economist a significant boost to investor confidence, S&P Global Ratings has upgraded India's long-term unsolicited sovereign credit rating to 'BBB' from 'BBB-', while also raising the short-term rating to 'A-2' from 'A-3'.The outlook on the long-term rating remains stable, reflecting optimism around India's policy continuity, robust economic growth, and improved fiscal the rating upgrade, S&P also revised its transfer and convertibility assessment for India to 'A-' from 'BBB+', citing an improved monetary and external to S&P, the stable outlook suggests confidence in India's ability to sustain its growth trajectory, driven by high levels of infrastructure investment and a disciplined policy environment.
