SpiceJet had taken a one-time relief of two to three months towards payment of one lessor in September, as the airline - like its peers - faced liquidity crunch because of rising fuel costs and depreciating rupee.Last week, rating agency CRISIL had downgraded the bank facilities of SpiceJet from stable to negative, reflecting the pressure airline is facing due to "significant increase in the operating cost and limited ability to pass on the increased cost to customers due to intense competition."The airline although issued a statement saying that the downgrade is an industry phenomenon.Close "The downgrade is an industry phenomenon and we continue to outperform the industry on financial metrics. However, with regards to one single lessor mentioned in the CRISIL report we had taken a one-time relief of 2-3 months to better manage cash flows during the lean month of September 2018," SpiceJet said in a statement. related news Thomas Cook India to acquire rights of … [Read more...] about Facing liquidity crunch, SpiceJet took one-time relief for payment of lease
Southwest boeing 737
Former Reserve Bank of India governor Raghuram Rajan is among the front runners for the post of International Monetary Fund’s managing director, days after Britain’s Foreign Office was urged to back an Indian for the job, according to media reports in the United Kingdom.The IMF role fell vacant after current MD Christine Lagarde announced her resignation last week after she was nominated by the European Council as president of the European Central Bank. Her resignation takes effect from September 12.As demands grow for the next IMF MD pick to be from outside Europe and America — as British foreign affairs committee chairman Tim Tugendhat wrote in a letter to foreign secretary Jeremy Hunt – The Sunday Times mentioned 53-year-old Rajan among the likely candidates.Close “This is an ideal time for the job to be opened up to an emerging-market candidate. Raghuram Rajan, the former governor of India’s central bank… has good IMF credentials as one of … [Read more...] about Ex-RBI Governor Raghuram Rajan in running for IMF chief’s post?
Target The idea of a massive store that looks the same in every region is a thing of the past, at least for Target. In its place is a highly curated version tailored for dense urban areas. “How do we keep our store experience relevant?” asks Mark Schindele, Target’s SVP of properties. “We customize, we evolve, and we understand our guests.” advertisement advertisement In 2017, Target will roll out 28 new flexible-format stores, double the number it opened in 2016. The company’s first small-store effort, City Target, which launched in six locations in 2012, averaged about 100,000 square feet, still too big a footprint for major cities. The company faced a challenge: how to condense even more while providing customers with a total Target experience. Flex formats shrink the size to as little as 12,000 square feet and tailor merchandise to specific neighborhoods. They also dropped the special moniker: All Targets, regardless of the size or … [Read more...] about Updates From Our Most Innovative Companies: Moleskine, Target, And More
Few places in south Maharashtra and Goa are "very likely" to receive light-to-moderate rain in the next 36 hours, the IMD said on December 3 evening.It warned fishermen not to venture into the sea on Wednesday.The evening bulletin of the India Meteorological Department said there was a "well marked low pressure area" over the southwest Arabian sea and Lakshwadweep islands.Close Are you happy with your current monthly income? Do you know you can double it without working extra hours or asking for a raise? Rahul Shah, one of the India's leading expert on wealth building, has created a strategy which makes it possible... in just a short few years. You can know his secrets in his FREE video series airing between 12th to 17th December. You can reserve your free seat here. … [Read more...] about IMD forecasts moderate rains in south Maharashtra, Goa
Activity in China's services sector accelerated to a seven-month high in November, as new business, especially new export business, picked up, a private survey showed on Wednesday.Beijing has been counting on the services sector, which accounts for more than half of China's economy, to partly offset sluggish domestic and global demand for manufactured products as a prolonged trade war with the United States drags on.The Caixin/Markit services purchasing managers' index (PMI) rose to 53.5 last month, the quickest pace since April, from 51.1 in October.Close It has stayed above the 50-point margin that separates growth from contraction on a monthly basis since late 2005. related news Macro Matters | The Composite PMI for November should provide comfort to the RBI Services output expands for first time in 3 months: PMI United Airlines buying 50 Airbus jets to replace older Boeing planes The stronger performance points to easing pressure on the services sector, which had been … [Read more...] about China November services sector activity rises to 7-month high: Caixin PMI