Dubai to invest $32-billion to build world's largest airport

November 30, 2014

Mumbai, Nov 30: To further secure its position as the world's aviation hub, Dubai Airports is building a whopping USD 32—billion greenfield airport at the upcoming Dubai World Central, 30 km off the present international airport which already is the second busiest in the world.dubai airport

The proposed new airport will become the world's largest aviation facility on completion and will have five runways which all will be simultaneously operational, all A380-compatible with a length of 4.5 km each.

“We are planning a USD 32—billion brand new airport at the Dubai World Central at Al Maktoum, 30 km off the present Dubai facility. In the first phase, the new airport will be able to handle 120 million passengers, which will go up to 200 million by 2020, when the project is completed,” Dubai Airports Corporate Communications Head Julius Baumann told media persons.

“On completion, the new airport will be the world's largest airport, with each concourse the size of seven football fields and have five runways which all will be simultaneously operational, all A380-compatible,” Mr. Baumann said.

The other features include 200 aircraft stands for wide bodied aircraft, four concourses connected via six airport trains to two terminals, which in turn will be linked to the city's metro network. When complete, the mega-hub will have total annual capacity exceeding 200 million passengers and 12 million tonne of freight.

The existing Al Maktoum International opened its doors to passengers on October 27, 2013 and three airlines are operating from here. It has one A380 capable runway, 64 remote stands, one cargo terminal with annual capacity for 250,000 tonne and a fully operational passenger terminal building designed to accommodate 5 million passengers annually.

The Dubai International Airport is the world's second busiest airport after the London Heathrow and is on course to become the global aviation hub, thanks to its geographical location and the availability of cheap fuel.

The first phase of the new airport includes a single A380 compatible runway, a passenger terminal with capacity of 5 million passengers which is expandable to 7 million; a cargo terminal with a capacity of 250,000 tonne per annum and expandable to 600,000 tonne and a 92-metre air traffic control tower.

The state-owned Dubai Airports already operates the Dubai International Airport in the heart of the Arabian megapolis and the Al Maktoum International Airport at the upcoming Dubai World Central (DWC).

The DWC is a 140 sq km new international city being built to de-congest the present city, Dubai Airports' Marketing & Corporate Communications Manager Zaigham Ali said, adding the work on new airport will begin early next year.

Apart from the new airport plan, the Emirate is also expanding the Dubai International Airport with a USD 7.8 billion investment to take the capacity to 100 million by 2020. This project was started in 2011 and will be completed by 2016.

The expansion of the Dubai International include a new concourse (Concourse D), expansion of Terminal 2 to twice its current capacity, refurbishment of Terminal 1, and additional aircraft stands, taxiways and aprons among others.

Dubai International, Mr. Baumann said handled 66.43 million passengers in 2013, and has being growing 15.5 per cent per annum since its launch in 1960. In 2013, it was named the second busiest airport in the world after the London Heathrow.

Mr. Ali said India is the largest source market for the airport, with an airline network that connects Dubai with 18 cities in the country.

In 2013, the airport saw a 14.3 percent increase in passenger numbers from India at 8.5 million and in the first 9 months of this year, the number has already crossed 7 million.

Mr. Ali added the company is confident of crossing the last year's mark this year.

Explaining the rationale for a gigantic new airport, Mr. Baumann said the airport's forecast figures for unconstrained passenger traffic show 126 million passengers by 2020, and 300 million passengers by 2050.

Additionally, the Terminal 2 will double in capacity by 2015. Concourse D of the airport, slated to open by mid 2015, will provide for 100 more aircraft and taking the figure up to 80 million passengers.

In all, the expansion projects will take the airport's passenger capacity to a little over 100 million passengers, Mr. Ali said.

With a built-up area of 1,972,474 sqm, the Dubai International Airport comprises three terminals and ranks among the world's top two busiest airports for international passengers, serving over 125 airlines flying to over 260 destinations, as per the Airports Council International.

On the economic impact of the aviation sector in Baumann, quoting an Oxford Economics report said, aviation will contribute USD 53.1 billion to Dubai's economy, which is 37.5 per cent to its GDP and will support over 750,000 jobs by the turn of 2020.

The aviation sector as a whole contributed USD 26.7 billion to the Dubai economy in 2013, which was almost 27 per cent of the national GDP and supported 416,500 jobs accounting for 21 per cent of the Emirates' total employment.

Passenger traffic in September totalled 5,942,628 compared to 5,407,326 recorded in the same month last year, an increase of 9.9 per cent. January—September rose 6.2 per cent to 52,422,547, up from 49,379,165, while in 2013, the passenger traffic stood 66,431,533, up 15.2 per cent from 2012.

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KT
April 12,2020

Apr 12: The board and management of troubled NMC Healthcare should be held accountable for the financial irregularities, said Abdulaziz Al Ghurair, chairman of the UAE Banks Federation.

"Banks have dealt with the exposure professionally and they lent to a company which was listed on FTSE-100 index with world-class regulator and the world's largest audit firm doing their audit. Even if they present their balance sheet today, people will still lend to them. This is a world-class fraud and the management and board members should be held accountable. We should have a different track to handle this company. It is not a normal track that we can go," Al Ghurair said during a virtual press conference on Sunday.

It is estimated that the more than 80 local, regional and international banks have exposure to healthcare firm. The UAE bourses had asked all the listed companies in the UAE to announce their exposure. The UAE banks last week announced nearly Dh10 billion exposure to NMC Healthcare, which is owned by the billionaire BR Shetty.

Abu Dhabi Commercial Bank has the highest exposure to NMC at Dh3 billion. Dubai Islamic Bank and its subsidiary Noor Bank announced Dh2 billion exposure while Emirates NBD and its Shariah-compliant unit Emirates Islamic Bank revealed Dh747.34 million exposure. Ajman Bank has Dh151.8 million while Al Salam Bank pegged its exposure at Dh161.5 million. All these lenders revealed their exposure for the first time on Sunday.

Abu Dhabi Islamic Bank said it had extended Dh1.07 billion in financing to NMC Healthcare, and an additional Dh113.67 million exposure to Islamic bonds issued by NMC.National Bank of Fujairah pegged its exposure to NMC at Dh289.1 million, while Sharjah-based United Arab Bank said its exposure was Dh135.3 million.

NMC recently revised its debt position to $6.6 billion, well above earlier estimates.

London's High Court last week placed hospital operator NMC Health into administration, on the application of Abu Dhabi Commercial Bank.

"I know leading bank in UAE have already legal guardian of the company so now management cannot hide anything. The new team will manage and discover what happened," said Al Ghurair.

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News Network
January 3,2020

Bengaluru, Jan 3: The Karnataka high court on Thursday issued notices to the Railway Board and the South Western Railways on a petition seeking review of superfast surcharge being levied on passengers in Malgudi Express train.

Petitioner and Mysurubased advocate Mohammed Dastagir, in a public interest litigation claimed that as per the circular issued by the Railway Board on December 10, 2006, Malgudi Express — which runs from Mysuru to Yelehanka — is not designated as a superfast train and despite the same, the authorities are illegally collecting additional charges known as supplementary charges ranging from Rs 15 to Rs 75 from passengers.

A division bench headed by Chief Justice Abhay Shreeniwas Oka posted the petition to second week of February.

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News Network
March 25,2020

Udupi, Mar 25: Fearing Corona infection a 56-year-old man has committed suicide over in Udupi. 

The deceased has been identified as Gopalkrishna Madivala.

He was a KSRTC bus driver and was currently performing a duty to train new drivers.

He suspected his friend had contracted COVID-19 and as he had a close association with him, he feared he too will be infected and hence hanged himself on a tree.

Although symptoms of Corona infection do not appear to him, he left behind a death note which stated that he resorted to the extreme step over suspicion of having been infected by a corona trait of a friend. 

Recently, the first COVID-19 positive case in Udupi where a 34-year-old man has been tested positive.

A press release issued by the District Health and Family Welfare Officer on Wednesday said that the man had come from Dubai to Udupi district on March 18.

Since he showed symptoms of COVID-19, he was admitted to the District Government Hospital on March 23. His throat swab was sent for test and the preliminary report stated that he had tested positive for COVID-19.

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