Business
When will Noida Airport open for flights? Noida International Airport CEO shares important update
Noida airport latest news: The Noida International Airport (NIA), the second airport in the National Capital Region, is set to commence commercial operations by the end of April 2025, according to Christoph Schnellmann, the chief executive of Noida Airport. The airport will undergo a series of test flights starting from September as part of the approval process.
The Airport Authority of India (AAI) is expected to conduct calibration flights for the Instrument Landing System (ILS) in September and October, according to an ET report.In December, a commercial airline will operate validation flights for approach and departure procedures without passengers.
“Once all these are done and clearance comes, we will apply for the aerodrome license from DGCA and have our first flight by April 2025,” Schnellmann said.
The commencement of commercial operations was initially planned for September, but a supply chain issue that affected the import of specialized steel used in constructing the airport terminal building’s roof has caused a delay in the process.
Zurich Airport, which won the bid to build the airport 18 years after it was first envisioned by then Uttar Pradesh chief minister Rajnath Singh, owns the airport. In 2022, NIAL selected Tata Projects for the construction work.
Schnellmann mentioned that the airport is garnering significant interest from both domestic and international airlines. The NIA is currently in discussions with Air India and other carriers for flight operations from the airport, which will serve as the second major airport in the National Capital Region after Delhi’s Indira Gandhi International Airport (IGIA).
The Noida International Airport’s terminal is being designed to handle both domestic and international operations in an integrated manner.
In its initial phase, the airport will feature a single runway and terminal, capable of accommodating 1.2 crore passengers annually. Upon completion of the fourth phase, the airport’s capacity will expand to handle 70 million passengers per year.
Several airlines, including IndiGo and Akasa Air, have already signed agreements with the Noida International Airport.
According to airport officials, the majority of the runway construction work has been completed.
The first phase of the airport will include one terminal, one runway, 10 aerobridges, and 25 parking stands.
To ensure seamless connectivity, the airport will be accessible through six roads, a rapid rail-cum-metro system, and pod taxis. Additionally, a 31-kilometre greenfield expressway is under construction to connect the airport with the Delhi-Mumbai Expressway at Ballabhgarh.
The Uttar Pradesh government has approved a Rs 16,000-crore rapid rail corridor that will link the two airports and other parts of Delhi. The National Capital Region Transport Corporation (NCRTC) is currently working on a detailed project report, which is expected to be finalized by March.
The Airport Authority of India (AAI) is expected to conduct calibration flights for the Instrument Landing System (ILS) in September and October, according to an ET report.In December, a commercial airline will operate validation flights for approach and departure procedures without passengers.
“Once all these are done and clearance comes, we will apply for the aerodrome license from DGCA and have our first flight by April 2025,” Schnellmann said.
The commencement of commercial operations was initially planned for September, but a supply chain issue that affected the import of specialized steel used in constructing the airport terminal building’s roof has caused a delay in the process.
Zurich Airport, which won the bid to build the airport 18 years after it was first envisioned by then Uttar Pradesh chief minister Rajnath Singh, owns the airport. In 2022, NIAL selected Tata Projects for the construction work.
Schnellmann mentioned that the airport is garnering significant interest from both domestic and international airlines. The NIA is currently in discussions with Air India and other carriers for flight operations from the airport, which will serve as the second major airport in the National Capital Region after Delhi’s Indira Gandhi International Airport (IGIA).
The Noida International Airport’s terminal is being designed to handle both domestic and international operations in an integrated manner.
In its initial phase, the airport will feature a single runway and terminal, capable of accommodating 1.2 crore passengers annually. Upon completion of the fourth phase, the airport’s capacity will expand to handle 70 million passengers per year.
Several airlines, including IndiGo and Akasa Air, have already signed agreements with the Noida International Airport.
According to airport officials, the majority of the runway construction work has been completed.
The first phase of the airport will include one terminal, one runway, 10 aerobridges, and 25 parking stands.
To ensure seamless connectivity, the airport will be accessible through six roads, a rapid rail-cum-metro system, and pod taxis. Additionally, a 31-kilometre greenfield expressway is under construction to connect the airport with the Delhi-Mumbai Expressway at Ballabhgarh.
The Uttar Pradesh government has approved a Rs 16,000-crore rapid rail corridor that will link the two airports and other parts of Delhi. The National Capital Region Transport Corporation (NCRTC) is currently working on a detailed project report, which is expected to be finalized by March.
Applications for US unemployment benefits fell to the lowest level since May, indicating the job market remains healthy despite a slowdown in hiring.
Initial claims decreased by 12,000 to 219,000 in the week ended September 14, according to Labor Department data released Thursday. That was below all estimates in a Bloomberg survey of economists. The period also corresponds with the so-called reference week when the survey is conducted for the September employment report.
Continuing claims, a proxy for the number of people receiving benefits, also dropped in the previous week, to the lowest in three months.
The four-week moving average, a metric that helps smooth out volatility in the data, fell to 227,500, the lowest since June.
What Bloomberg economics says…
“Initial jobless claims declined more than expected in the survey week for September’s employment report, due in part to difficulty adjusting the data around a major holiday like Labor Day. Claims tend to be depressed in holiday-shortened weeks, then rebound the following week — so the current data have limited value as a guide to September’s payroll print,” said Eliza Winger.
Claims for unemployment benefits have remained subdued in recent months even as labor demand cooled. The US central bank’s decision to lower interest rates by a half percentage point this week reflected policymakers’ intention to maintain what Federal Reserve Chair Jerome Powell described as “still a solid” labor market.
“We’re trying to achieve a situation where we restore price stability without the kind of painful increase in unemployment that has come sometimes with disinflation,” Powell said during a press conference Wednesday following the rate-cut announcement.
Initial claims, before adjustment for seasonal factors, rose by 6,436 to 184,845. Texas, New York and California saw the largest increases. Applications in Massachusetts fell by the most since the end of April.
Initial claims decreased by 12,000 to 219,000 in the week ended September 14, according to Labor Department data released Thursday. That was below all estimates in a Bloomberg survey of economists. The period also corresponds with the so-called reference week when the survey is conducted for the September employment report.
Continuing claims, a proxy for the number of people receiving benefits, also dropped in the previous week, to the lowest in three months.
The four-week moving average, a metric that helps smooth out volatility in the data, fell to 227,500, the lowest since June.
What Bloomberg economics says…
“Initial jobless claims declined more than expected in the survey week for September’s employment report, due in part to difficulty adjusting the data around a major holiday like Labor Day. Claims tend to be depressed in holiday-shortened weeks, then rebound the following week — so the current data have limited value as a guide to September’s payroll print,” said Eliza Winger.
Claims for unemployment benefits have remained subdued in recent months even as labor demand cooled. The US central bank’s decision to lower interest rates by a half percentage point this week reflected policymakers’ intention to maintain what Federal Reserve Chair Jerome Powell described as “still a solid” labor market.
“We’re trying to achieve a situation where we restore price stability without the kind of painful increase in unemployment that has come sometimes with disinflation,” Powell said during a press conference Wednesday following the rate-cut announcement.
Initial claims, before adjustment for seasonal factors, rose by 6,436 to 184,845. Texas, New York and California saw the largest increases. Applications in Massachusetts fell by the most since the end of April.
Business
Stock market today: BSE Sensex hits fresh lifetime high, goes above 83,600; Nifty50 above 25,550
Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, surged in trade on Friday to hit lifetime highs following a more than expected 50 basis points rate cut by the US Federal Reserve. While BSE Sensex climbed above 83,600, Nifty50 was above 25,550. At 9:20 AM, BSE Sensex was trading at 83,636.77, up 689 points or 0.83%. Nifty50 was at 25,571.70, up 194 points or 0.77%.
Siddhartha Khemka, Head of Research, Wealth Management at Motilal Oswal, says, “A 25bps rate cut is already discounted and can lead to profit booking in the market.However, a 50bps rate cut by the Fed could bring some cheer to market sentiments. Also, Fed commentary will be important as it will give clarity on the quantum and duration of the rate cut cycle. We expect the market to remain volatile in the near term with rate-sensitive sectors in focus.”
Nagaraj Shetti of HDFC Securities noted that the short-term trend of Nifty remains positive with range-bound action, and any dips to the support levels of 25,200-25,100 could present a buying opportunity. A decisive move above 25,500 levels might propel Nifty towards higher targets.
In the global markets, U.S. stocks closed with modest losses on Wednesday after the Federal Reserve cut interest rates by 50 basis points, exceeding expectations. The S&P 500 futures rose 0.5%, while Japan’s Topix gained 2%, and Australia’s S&P/ASX 200 rose 0.2%. Euro Stoxx 50 futures also climbed 0.7%.
In the forex market, the euro, Japanese yen, and offshore yuan experienced slight declines against the US dollar. Oil prices fell in Asian trading on Thursday following the larger-than-expected Federal Reserve interest rate cut, which raised concerns about the U.S. economy.
Several stocks are in the F&O ban period today, including Balrampur Chini Mills, Hindustan Copper, GNFC, RBL Bank, PNB, Bandhan Bank, Biocon, Birlasoft, LIC Housing Finance, and Granules. Foreign portfolio investors turned net buyers with Rs 1154 crore, while domestic institutional investors bought shares worth Rs 152 crore. The net long position of FIIs increased from Rs 2.2 lakh crore on Tuesday to Rs 2.37 lakh crore on Wednesday.
Siddhartha Khemka, Head of Research, Wealth Management at Motilal Oswal, says, “A 25bps rate cut is already discounted and can lead to profit booking in the market.However, a 50bps rate cut by the Fed could bring some cheer to market sentiments. Also, Fed commentary will be important as it will give clarity on the quantum and duration of the rate cut cycle. We expect the market to remain volatile in the near term with rate-sensitive sectors in focus.”
Nagaraj Shetti of HDFC Securities noted that the short-term trend of Nifty remains positive with range-bound action, and any dips to the support levels of 25,200-25,100 could present a buying opportunity. A decisive move above 25,500 levels might propel Nifty towards higher targets.
In the global markets, U.S. stocks closed with modest losses on Wednesday after the Federal Reserve cut interest rates by 50 basis points, exceeding expectations. The S&P 500 futures rose 0.5%, while Japan’s Topix gained 2%, and Australia’s S&P/ASX 200 rose 0.2%. Euro Stoxx 50 futures also climbed 0.7%.
In the forex market, the euro, Japanese yen, and offshore yuan experienced slight declines against the US dollar. Oil prices fell in Asian trading on Thursday following the larger-than-expected Federal Reserve interest rate cut, which raised concerns about the U.S. economy.
Several stocks are in the F&O ban period today, including Balrampur Chini Mills, Hindustan Copper, GNFC, RBL Bank, PNB, Bandhan Bank, Biocon, Birlasoft, LIC Housing Finance, and Granules. Foreign portfolio investors turned net buyers with Rs 1154 crore, while domestic institutional investors bought shares worth Rs 152 crore. The net long position of FIIs increased from Rs 2.2 lakh crore on Tuesday to Rs 2.37 lakh crore on Wednesday.
On Wednesday, Wall Street stocks experienced a slight decline following the Federal Reserve’s announcement of a half-percentage-point interest rate cut. The central bank’s chair, Jerome Powell, assured a “careful” approach to lowering rates, acknowledging the progress made in combating inflation in the United States.
The Federal Reserve’s decision was supported by an 11-to-1 vote in favor of reducing the benchmark rate to a range between 4.75 percent and 5.00 percent.The larger-than-expected rate cut surprised some analysts who had anticipated a quarter-point decrease. Additionally, policymakers projected an extra half-point of cuts by the end of this year and a further percentage point of cuts in 2025.
Meanwhile, major US stock indices fluctuated between positive and negative territory following the Fed’s decision. The Dow Jones Industrial Average fell 103.08 points, or 0.25%, to 41,503.10, the S&P 500 lost 16.32 points, or 0.29%, to 5,618.26 and the Nasdaq Composite lost 54.76 points, or 0.31%, to 17,573.30. Briefing.com noted that the Fed’s decision would be met “with both elation and criticism,” as the larger rate cut could appease those who believe the Fed is lagging in preventing a hard landing. However, it may also face criticism from those who think the more aggressive rate cut was unwarranted given broader economic trends, with concerns that it could reignite inflation.
During a news conference, Powell described the US economy as being in “good shape,” highlighting lower inflation and robust growth. He emphasized the Fed’s desire to maintain a strong labor market. The decision to implement a larger rate cut was based on various economic data points, leading policymakers to conclude that monetary decisions had been “appropriately restrictive” and that a “more neutral” approach was now necessary. Powell signaled that investors should expect more interest rate cuts in the future but cautioned that the central bank would proceed carefully and evaluate the matter “meeting by meeting.”
In Europe, stock markets in Paris and London closed lower, while Frankfurt ended the day flat. The dollar initially experienced a significant drop against the euro and other currencies but later recovered. The Fed now anticipates only a half-percentage point of cuts remaining in 2024, which is lower than the three-quarter percentage point that traders had been expecting. Traders are now focusing on the upcoming announcement by the Bank of England on Thursday. The central bank is expected to maintain its current stance following a regular meeting, as official data released on Wednesday showed that British annual inflation remained at 2.2 percent in August.
(With inputs from agencies)
The Federal Reserve’s decision was supported by an 11-to-1 vote in favor of reducing the benchmark rate to a range between 4.75 percent and 5.00 percent.The larger-than-expected rate cut surprised some analysts who had anticipated a quarter-point decrease. Additionally, policymakers projected an extra half-point of cuts by the end of this year and a further percentage point of cuts in 2025.
Meanwhile, major US stock indices fluctuated between positive and negative territory following the Fed’s decision. The Dow Jones Industrial Average fell 103.08 points, or 0.25%, to 41,503.10, the S&P 500 lost 16.32 points, or 0.29%, to 5,618.26 and the Nasdaq Composite lost 54.76 points, or 0.31%, to 17,573.30. Briefing.com noted that the Fed’s decision would be met “with both elation and criticism,” as the larger rate cut could appease those who believe the Fed is lagging in preventing a hard landing. However, it may also face criticism from those who think the more aggressive rate cut was unwarranted given broader economic trends, with concerns that it could reignite inflation.
During a news conference, Powell described the US economy as being in “good shape,” highlighting lower inflation and robust growth. He emphasized the Fed’s desire to maintain a strong labor market. The decision to implement a larger rate cut was based on various economic data points, leading policymakers to conclude that monetary decisions had been “appropriately restrictive” and that a “more neutral” approach was now necessary. Powell signaled that investors should expect more interest rate cuts in the future but cautioned that the central bank would proceed carefully and evaluate the matter “meeting by meeting.”
In Europe, stock markets in Paris and London closed lower, while Frankfurt ended the day flat. The dollar initially experienced a significant drop against the euro and other currencies but later recovered. The Fed now anticipates only a half-percentage point of cuts remaining in 2024, which is lower than the three-quarter percentage point that traders had been expecting. Traders are now focusing on the upcoming announcement by the Bank of England on Thursday. The central bank is expected to maintain its current stance following a regular meeting, as official data released on Wednesday showed that British annual inflation remained at 2.2 percent in August.
(With inputs from agencies)
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