first_imgFood District is preparing to open on November 8th as part of the Pointe on Palm Jumeriah. The two-storey, licensed dining hub in Dubai will welcome 13 homegrown concepts all under one roof – the first of its kind in the United Arab Emirates.- Advertisement – OlderSofitel Dubai the Obelisk opens in Dubai- Advertisement – – Advertisement – This indoor and terrace location boasts front-row views of the largest dancing fountains in the world, the Palm Fountains, together with Atlantis vistas.The first floor showcases ten dine-in brands from trend-setting Dubai-based chefs, restaurateurs and food entrepreneurs, alongside two licensed bars. Meanwhile, the ground level houses an artisan coffee and café concept, with sandwiches, pastries and a gelato stall.- Advertisement – This new one-stop, dine-in food market offers breakfast, lunch and dinner, paired with wine, spirits and cocktails from the following specialty vendors, each helming their own booth.Food take-out through Deliveroo is also available. Customers scan QR code menus to choose dishes, paying at the respective vendor.last_img read more

first_imgFOREST CITY — Winnebago Industries says they’re buying another motorhome manufacturer. The Forest City-based outdoor lifestyle product company announced this morning that it’s entered into an agreement to acquire Newmar Corporation for $344 million. Winnebago says Newmar, located in Nappanee Indiana, has been a leader in the recreational vehicle industry for over 50 years and makes the industry’s fastest growing brand of Class A motorhomes. Winnebago president and CEO Michael Happe says in a written statement that the acquisition aligns with the company’s strategy and re-energizes their motorized business by enhancing the company’s position in the motorhome market.This story will be updated with more information about the purchase later.last_img read more

first_imgIndonesia Geocaching country souvenirBasking along the equator in Southeast Asia lies Indonesia, The Emerald of the Equator. Here are a few facts about this beautiful country:The Komodo dragon found in Indonesia, is the largest lizard in the world, can grow up to 3 meters (10 feet) in length and weigh up to 166 kilos (360 pounds) According to the CIA World Factbook, Indonesia has the second longest coastline in the world (55,000 km / 34,000 mi) after Canada (200,000 km / 126,000 mi) Indonesia became the first developing country to operate their own domestic satellite system, Palapa.Home of 261 currently active geocaches, here are three luar biasa (incredible) geocache suggestions for Indonesia:Campuhan RidgeTraditional | GC13DX7 | by urch | D1.2 / T2 Crystal Bay DCIM101GOPRO SharePrint RelatedGeocaching country souvenir: ChileDecember 10, 2018In “News”New country souvenir, Bosnia and Herzegovina, with Geocache of the Week: Top of Bosnia and HerzegovinaSeptember 18, 2019In “Geocache of the Week”Geocaching country souvenir: MaltaDecember 7, 2017In “News” This is one of the most popular and Instagram-worthy walks in Bali. The cache is about 1.5 km (0.6 mi) north along the ridge that runs between two rivers with superb scenery in every direction. There is little shade along the way so be sure to bring sun protection, a wide-brimmed hat, and water with you. Also, plan to grab this one in the early morning or late afternoon because of the extreme heat and humidity. Crystal BayTraditional | GC281GD | by glogloman | D2 / T3 A stunning white sand beach, perfectly clear waters, and excellent snorkeling. This is truly an idyllic spot and you are likely to have it all to yourself apart from a few local villagers and an occasional dive boat anchored offshore. Gunung BromoEarthCache | GC1VKKX | by pe3cek | D2 / T3 <> Campuhan Ridgecenter_img <> <> Gunung Bromo (Mount Bromo) is an active volcano and part of the Tengger Caldera in East Java. At 2,300 meters (7,600 feet) it is an exhausting hike to the top of the most well-known peaks in Indonesia.We announced five new Geocaching country souvenirs on Monday, December 10, 2018. If you have found a geocache in any of these countries, you automatically receive the souvenir on your profile. Check out all of the Geocaching souvenirs here. Share with your Friends:More Gunung Bromolast_img read more

first_img LongVersion_Electric_Auditing_Handout_2018edits.pdf Are batteries really necessary?One issue with a PV system is whether the electricity it generates can be used during a grid outage without the addition of a battery.Brian P writes that Pika Energy offers an inverter that appears able to work in a grid-tied system as well as an independent “island” when the grid is disabled. But Pika tells Sheehy that its system doesn’t allow PV electricity to be used when the grid is down except through a battery, which to Holladay means it can effectively function as an off-grid system.Thomas Stone points to two companies that make grid-tied inverters that will operate when the grid is down (and assuming there is sunlight). One is made by SMA, and another is called the Solar Edge.Kevin Spellman has another suggestion: a system from Schneider Electric, which includes an inverter, a generator and lithium-ion batteries.“So,” he says, “it can be done.”But prices are high. The 19.5 kWh battery that Spellman references costs $14,900, which by Holladay’s calculations stores the same amount of electricity you can buy from the grid for between $2 and $4.“Batteries are expensive,” he says. “Grid electricity is cheap.” Writing from central Kentucky, Clay Whitenack poses this question: in an all-electric house, what’s the best way of providing power when the grid is down?Whitenack and his family live in a new house, a house that does not have a fireplace or a wood stove. “This leaves us vulnerable in the event of a power outage during a bad winter,” he writes in a post at the Q&A forum. “We live in central Kentucky, so the winters here are usually not too bad, but we do have times when the temps get below freezing for extended periods of time.”The house is well-insulated and heated with ductless minisplits; domestic hot water is produced by a heat-pump water heater. Whitenack’s first thought about emergency backup power is a solar array.“I would like to start researching a small solar array that would allow me to keep the essentials going,” he says. “Things like heat, hot water, the fridge, stove, and maybe a few outlets around the house for a few lights, charging mobile devices, etc.” He wonders how to calculate the amount of electricity he’d need in a pinch, and what the capacity of a photovoltaic system might be. At least that’s where this Q&A Spotlight begins. Battery technologies are differentBoth the Tesla and LG batteries are lithium-ion, while Holladay’s system uses older generation lead-acid batteries, which can be charged with a generator.“Using a generator to charge a battery bank is fairly simple,” he says. “Most off-grid inverters include a battery charger. Off-grid homeowners start up the generator when it’s been cloudy for a few days. When necessary, I plug my house into my generator. When the inverter senses the generator power, it automatically charges the battery at a rate of about 90 amps (tapering down to 40 or 50 amps when the batteries are close to full). While the generator is running, there is also plenty of extra power to run the washing machine or other appliances.”Although it’s not immediately obvious to Holladay why a generator can’t be used to recharge a lithium-ion battery — after all, the internal combustion engine in a Prius is capable of charging the car’s lithium-ion battery — a little internet sleuthing suggests it’s not as simple as it may seem. He finds that lithium-ion batteries may need an automotive alternator rather than a generator for charging, “or a set of old-fashioned lead-acid batteries as a buffer for the generator.”The reason for that is complicated, but Holladay refers Whitenack to an article with a longer explanation.Calum Wilde disagrees. “If the [Powerwall] is being charged by mains power it shouldn’t matter if that 240 volt AC is coming from the grid or your generator,” Wilde writes “The only way it could matter is if the hookup method purposefully prevents it. But the battery charger/inverter shouldn’t care. If I were you, I’d ask about that setup on Reddit. They’re generally a great bunch of professionals with collectively an immense amount of knowledge.” Adding batteries to the mixIf Whitenack follows the more expensive solar route, Dorsett suggests looking into a “battery-ready” inverter, which would allow the addition of a battery in the future — when demand charges are introduced for residential electricity customers, for example.“The cost of lithium-ion batteries is still in free-fall on a double-digit learning curve,” Dorsett writes. “At some point in the next decade it will be worth it, even if the primary use is as backup rather than demand-charge mitigation.” He points to a Bloomberg report that says the price of lithium-ion batteries in 2016 was $273 per kilowatt hour, a decline of 73% since 2010.But the addition of storage batteries also raises other questions while making the system more complex and more expensive.Sheehy says his research for backup power included two quotes for a battery. A Tesla Powerwall would have cost almost $14,000, while a competing battery from LG would have been almost $12,000. Those options would have provided between 12 and 14 kWh of energy storage, and he would still have needed a gas-powered generator.“Both systems quoted to me could not be charged by the generator,” Sheehy adds. “That meant that in an outage I’d need to go back and forth between battery and generator.” Our expert’s opinionPeter Yost, GBA’s technical director, added these thoughts:It’s difficult to add much to the practical information and insights already offered by Martin Holladay and others. But I wanted to share some information I have gathered from two conference presentations. One was the 2013 Better Buildings Better Business conference in The Dells, Wisconsin, where my friend and colleague Dan Cautley of Seventhwave spoke. The other was just last week when Marc Rosenbaum presented at the Better Buildings by Design conference in Burlington Vermont. Both were outstanding events.Dan’s presentation “Electrical Energy Auditing: Typical Use by Appliance,” is a great way to estimate electrical loads when trying to design a back-up system. I pulled these out of his work because Clay Whitenack listed them:Heat-pump water heater: Typical annual use 800 kWh.Refrigerator: Draws 725 watts; typical annual consumption 1000 kWh.Stove/range: Draws 1,500 watts; typical annual consumption 300 kWh.Lighting (50 lamps): Draws 2,364 watts; typical annual consumption 1560 kWh.Phone and camera chargers: Draw 2 watts; typical annual consumption 11 kWh.For those trying to figure out just what essentials can be covered, Dan’s work is pretty helpful, even if it is a bit dated.I can report on Marc’s presentation only indirectly. I’m sorry to say I didn’t get to that session because it competed with another talk I wanted to hear, But friends and colleagues Eli Gould and Jim Duran of PreCraft had these takeaways:Even a thrifty family in a small house would need “huge” storage capacity to cover the starting and sustained power draws from essential appliances and lighting.Reducing the heat load helps a lot, so a wood stove looks mighty attractive for covering power outages.It’s really hard to eliminate the need for even a small generator to offset the four-day, cloudy winter scenario.Marc’s calculations on generator emissions show that even the most efficient generators are way worse than the grid.Considering the current limitations in batteries, and the diminishing returns of increasing total battery capacity, you just can’t store enough energy to last through a long outage without the help of the generator.NOTE: Efficiency Vermont has posted the presentations from this year’s Better Buildings By Design conference. Marc Rosenbaum’s presentation was called “PVs and Battery Storage.” RELATED ARTICLES A PV system isn’t cheapGBA editor Martin Holladay, who has lived off the grid for many years, points out that installing a PV system is expensive. Solar panels, batteries, a charge controller, and an inverter, sized for backup at a house that uses fossil fuels for space heating and domestic hot water could cost between $10,000 and $20,000, Holladay says. “If the house uses electricity to provide space heating and hot water,” he writes, “it would be hard to even imagine the size of a battery big enough to get the house through a few cloudy days. Such a system would cost a fortune and would be a maintenance headache. It’s far cheaper to spend $1,200 to $2,000 on a gasoline-powered generator.”His own generator is a Honda that can crank out 5,000 watts. It cost a little more than $2,000, and it can produce both 120-volt and 240-volt electricity.Whitenack admits he hadn’t considered buying a generator. While that option does look cheaper and easier to install than a solar array, the long-term financial picture isn’t as attractive.“What about the long-term returns of a solar system vs. a generator, though?” he asks. “I plan on living at this location for another 40-50 years, God willing. A PV system would allow me to offset my energy bills, which a generator would not.”And generators can easily top the $2,000 that Holladay mentions.Stephen Sheehy, for example, writes that after looking into possible backup power sources for his Maine home, he settled on a 7,000-watt Honda. After hiring an electrician to install an exterior receptacle that could handle the generator’s 30-amp output, he ended up spending a total of $6,000.“I tried to shop around but most dealers didn’t have any Hondas available,” Sheehy said. “It’s a nice, quiet machine with inverter technology that lets me run my minisplits.” How long is an outage really going to last?A well-insulated house in Kentucky isn’t likely to have plumbing freeze-ups even in very cold weather, says Dana Dorsett, so a small woodstove might be enough to keep everyone comfortable during a power outage, and it would not require “punching huge holes in your efficient building envelope.”More to the point, Kentucky has a reliable electric grid and power outages that extend beyond a day or two are “extremely rare,” Dorsett says, adding, “The capital budget for equipment to cover trailing-edge 0.001% risks should be sized accordingly.”But Whitenack isn’t as concerned with a brief outage as he is with an extended grid failure, something caused by a natural disaster that disables the local power plant and leads to a blackout measured in weeks.“It’s not a huge fear of mine,” he says. “I’m not obsessed with zombie-apocalypse scenarios, but I have a young family and this is the first house I’ve lived in that hasn’t had some option for backup heat.”Still, that shouldn’t be an issue in Kentucky, Dorsett tells him. In the central part of the state, there’s plenty of redundancy built into the grid.“Grid planners in Kentucky are also further along than most states with smart-grid planning and development, making the grid more reliable in general, but also ‘self healing’ for re-routing power when major links go down,” Dorsett says “It’s definitely a first-world power grid environment, nowhere near as vulnerable as New Jersey and New York were during Superstorm Sandy.” Batteries for Off-Grid HomesHow to Design an Off-Grid HouseAn Introduction to Photovoltaic SystemsGreen Basics: Photovoltaic (Solar Electric) SystemsVermont Utility Is the First to Offer Tesla BatteryTesla Will Sell Home BatteriesBackup Electrical Power for a Passivhaus Project Do Grid-Tied Photovoltaic Systems Really Have an Advantage?How to Live Comfortably Off the Gridlast_img read more

first_imgHouston Rockets’ Chris Paul, right, steps over Golden State Warriors’ Stephen Curry (30) after losing the ball out of bounds during the first quarter of an NBA basketball game Tuesday, Oct. 17, 2017, in Oakland, Calif. (AP Photo/Ben Margot)SACRAMENTO, Calif. — Houston guard Chris Paul is out for the Rockets’ game in Sacramento on Wednesday night because of a bruised left knee and coach Mike D’Antoni isn’t counting on him Saturday for the home opener against Dallas.“It’s not a concern, it’s just nagging,” D’Antoni said before the game against the Kings. “We’ll sit him until the training staff thinks he’s ready to go and try to get over it totally.”ADVERTISEMENT View comments Don’t miss out on the latest news and information. Trending Articles PLAY LIST 00:50Trending Articles00:59Sports venues to be ready in time for SEA Games01:27Filipino athletes get grand send-off ahead of SEA Games01:37Protesters burn down Iran consulate in Najaf01:47Panelo casts doubts on Robredo’s drug war ‘discoveries’01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games Typhoon Kammuri accelerates, gains strength en route to PH MOST READ Brace for potentially devastating typhoon approaching PH – NDRRMC Frontrow holds fun run to raise funds for young cancer patients  BSP sees higher prices in November, but expects stronger peso, low rice costs to put up fight Fire hits houses in Mandaluyong Citycenter_img Kin of Misamis Oriental hero cop to get death benefits, award — PNP Kammuri turning to super typhoon less likely but possible — Pagasa Tuesday’s game was the first since March 9, 2015, that Paul was held to four or fewer points.D’Antoni isn’t concerned about Paul falling behind integrating and getting comfortable alongside JamesHarden in one of the Western Conference’s newest backcourt dynamic duos.“I don’t think it’s a challenge, you’ve got two great players that play very well on the ball and off the ball,” D’Antoni said. “I don’t see a problem. He wasn’t healthy yesterday so he was going half speed and we’re playing Golden State, so that was the challenge yesterday. They’ve looked good in practice. I think they’ll keep figuring things out a little bit better and make it easier on each other. But we’re looking forward to just getting him back healthy.”ADVERTISEMENT Hayward from hospital: It’s hurting me that I can’t be there Nonong Araneta re-elected as PFF president Eric Gordon was to start in place of Paul, who still could be ready by Saturday but D’Antoni said, “I think he’s still in play but I think it’s hard.”Paul had four points and shot 2 for 9 in the Rockets’ season-opening 122-121 win at Golden State on Tuesday night but was limited by soreness in the knee. He led the Rockets with 11 assists and also grabbed eight rebounds, while playing 33 minutes in his regular-season debut with Houston after being traded away by the Los Angeles Clippers during the offseason.FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutout“Man, I got through it,” Paul told reporters after the game in Oakland. “It was cool. Tough game, but it’s all about getting the win.”Paul was hampered at the end of the preseason by the knee pain which continued flaring Tuesday, and D’Antoni said the perennial All-Star “is playing on one leg right now.” LATEST STORIES Read Nextlast_img read more

first_imgPrivate companies step in to help SEA Games hosting Defending champ gone: Maria Sharapova ousts Caroline Wozniacki in Australia Still, he said it was an “amazing” feeling to play in front of so many friends and relatives.“I wish I could have played a little bit better,” Giles said. “They’ve seen me hoop before so they know, but just personally you always want to do good.”WILLIAMS ON WILLIAMSNorth Carolina Tar Heels coach Roy Williams made a surprise visit to see former Tar Heels player Marvin Williams play, something he tends to do at least once per season.“The funny thing is you never know when he’s going to pop up,” Marvin Williams said. “I’ve been in the league 14 years now and coach Williams has found a way to make it to a game every year. It’s unbelievable. And I know he does that for a lot of his former players — it’s bigger than basketball for him.”UP NEXTKings: Visit the Pistons on Saturday night.Hornets: Host the Suns on Saturday. “The second unit played well and got us back in the game,” Parker said. “But we have to have more consistency and keep it going now.”The Hornets entered the game looking to make up ground in the East after a 2-4 West Coast trip.After falling behind by 13 early, Charlotte outscored Sacramento 43-25 in the second quarter to take control and never trailed again, leading by as many as 20 early in the fourth quarter. Kidd-Gilchrist brought energy in the second quarter, scoring with 13 points before the break — most of those coming in transition after solid defensive play.In all, the Hornets scored 24 points off 16 Kings turnovers.“To score 43 points, it speaks to our defense there. That’s really how we were scoring,” Borrego said. “We were getting stops and steals.”TIP-INSKings: Buddy Hield led the Kings with 24 points. … Were outscored 52-38 in the paint despite being the Hornets being without center Cody Zeller.Hornets: Carolina Panthers All-Pro linebacker Luke Kuechly and former teammate Thomas Davis took in the game from courtside seats. … Center Frank Kaminsky did not play, even with Zeller out.GILES’ RETURNNorth Carolina native Harry Giles capped a frustrating night by fouling out with 1:20 left in the game. He finished with one point after missing all three shots from the field and going 1 of 4 from the foul line. LATEST STORIES TS Kammuri to enter PAR possibly a day after SEA Games opening Don’t miss out on the latest news and information. Is Luis Manzano planning to propose to Jessy Mendiola? SEA Games: Biñan football stadium stands out in preparedness, completion MOST READ Sports Related Videospowered by AdSparcRead Nextcenter_img LOOK: Joyce Pring goes public with engagement to Juancho Triviño SEA Games: Biñan football stadium stands out in preparedness, completion PH underwater hockey team aims to make waves in SEA Games PLAY LIST 02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games02:11Trump awards medals to Jon Voight, Alison Krauss The defense and bench play go hand-in-hand for Charlotte.Borrego has been substituting more frequently of late and going deeper into his bench in an effort to save energy for defense.“We want them to be fresh out there to give us all they have defensively,” Borrego said.While the first-year coach knows that may cost the Hornets some points on the offensive end, he said it’s “worth the payoff on defense.”Veteran guard Tony Parker agreed, saying if the Hornets want to make a playoff run — they are currently eighth in the Eastern Conference standings — they have to do it with defensive energy and consistently strong play off the bench.ADVERTISEMENT SEA Games hosting troubles anger Duterte “That’s the message right now,” Borrego said. “If we come out and defend with energy, physicality and disruption, we have a shot against anyone.”Kemba Walker scored 23 points, surpassing 11,000 for his career, and the Hornets set the tone with a strong defensive effort in the second quarter and powered their way to a 114-95 win Thursday night over the Sacramento Kings.FEATURED STORIESSPORTSPrivate companies step in to help SEA Games hostingSPORTSUrgent reply from Philippine ‍football chiefSPORTSWin or don’t eat: the Philippines’ poverty-driven, world-beating pool starsMiles Bridges and Michael Kidd-Gilchrist each had 15 points off the bench and reserve center Willy Hernangomez added 11 points and 16 rebounds for the Hornets. Charlotte’s reserves outscored Sacramento’s 60-44 and outrebounded them 25-17 as the Kings’ three-game winning streak ended. That run included a win over Charlotte in Sacramento on Saturday.“Their role players struggled a little bit at our place, our role players struggled a little bit here,” Kings coach Dave Joerger said. “That’s generally what happens — role players play better at home. We’re playing a lot of young guys at the same time, so it’s going to take a little while to figure out.” LOOK: Joyce Pring goes public with engagement to Juancho Triviño Charlotte Hornets’ Willy Hernangomez gestures after making a 3-point basket against the Sacramento Kings during the first half of an NBA basketball game in Charlotte, N.C., Thursday, Jan. 17, 2019. (AP Photo/Chuck Burton)CHARLOTTE, N.C— Coach James Borrego says the Charlotte Hornets can beat any team in the NBA if they bring defensive intensity.The challenge is getting that effort every game.ADVERTISEMENT View commentslast_img read more

first_img Local Atty says Govt going against public consultation; says NO to taller resort plan Facebook Twitter Google+LinkedInPinterestWhatsApp Recommended for you Related Items:consultation, gaming policy 2015 Consultations on Health & Agriculture launched Changes coming for National Parks laws; public consultation starts Facebook Twitter Google+LinkedInPinterestWhatsAppProvidenciales, 29 Oct 2015 – Consultation on the Gaming Policy 2015 has been extended to November 16 and the PNP Administration today announced that they still welcome electronic and dropped off submissions of ideas.In a 37-page document, there is focus on licensing, types of gaming, form and system of taxation, reporting and control standards, safeguards for licensees, employees, patrons, devices for gaming and games rules. In announcing the consultation the Administration shared that as of 2013, there were 80 gaming properties and 535 active machines in the TCI.We’ve got the link to the policy and email information at this link to the Gaming Policy 2015: gamingconsultation2015@gov.tclast_img read more

first_img 15 Photos NASA Spitzer telescope celebrates 15 years of astounding images Post a comment “The radar images achieve an unprecedented level of detail and are comparable to those obtained from a spacecraft flyby,” said NASA scientist Lance Benner. Benner says NASA noticed a distinctive ridge along one end and numerous small bright spots that may be reflections from boulders. Asteroid 2003 SD220 is also notable for its slow, complicated rotation, which NASA compares to that of a poorly thrown American football. The data NASA gathered will help scientists better understand how similar space bodies formed and evolved. While 2003 SD220 is classified as a “potentially hazardous asteroid” thanks to its size and travel path, NASA confirmed “it does not pose a future impact threat to Earth.”This isn’t the only odd-looking asteroid we’ve seen. We caught sight of a skull-shaped asteroid in October and one that looked like a peanut in 2017. At least this one looks like a cute (though potentially dangerous) critter.  CNET’s Holiday Gift Guide: The place to find the best tech gifts for 2018.NASA turns 60: The space agency has taken humanity farther than anyone else, and it has plans to go further. Share your voice Amazing asteroids NASA Space 0 Sci-Tech Tags Space hippo? Asteroid 2003 SD220 poses for radar images.  NASA/JPL-Caltech/GSSR/NSF/GBO Asteroids aren’t always the most elegant-looking objects in the cosmos. New NASA radar images of asteroid 2003 SD220 show a rock that resembles a space slug, or that creepy Ceti eel ear-bug thing from Star Trek II: The Wrath of Khan. Or even a hippo.The asteroid is considered a near-Earth object, but it’ll zoom past us at a safe distance of 1.8 million miles (2.9 million kilometers) on Saturday. This is 2003 SD220’s closest approach to our planet in 400 years, though it will slide by slightly closer in 2070.The asteroid is about 1 mile (1.6 kilometers) long. NASA thinks it looks like a “hippopotamus wading in a river.” The radar images came from mid-December through coordinating the efforts of the Goldstone Deep Space Communications Complex in California, the National Science Foundation’s Green Bank Telescope in West Virginia and the Arecibo Observatory in Puerto Rico. This asteroid looks like rolling Dungeons & Dragons dice That creepy skull asteroid will be a Halloween misslast_img read more

first_imgPicture: A fuel tanker moves past Air India passenger jets parked at an airport in Kolkata. [Representational Image]Reuters fileAir India is planning for road shows in India and abroad to attract buyers as the Narendra Modi government is all set to sell the loss-making state-owned airline.The company has now laid down details of a tender requesting proposals for engagement of advisers and also said that it is planning on “conducting road shows in India and abroad,” Mint reported.The report also suggests that the government is aware of the possibilities of international players showing interest in the airline. So, they may amend rules, which at the present bar international companies from bidding.On the modalities of strategic disinvestment, timing, and positioning of the strategic sale, merchant bankers will assist and advice the government.The government will have the option of getting the valuation done by another agency and will also consider the report of the asset value, Mint reported.”The bidder needs to have at least five years of experience in providing similar advisory services for disinvestment, strategic sale, merger and acquisition activities, private equity transaction etc., and should have advised, handled and successfully completed at least one transaction of merger/acquisition/takeover/strategic disinvestment/private equity transaction of the size of Rs 4,000 crore or more between April 2012 and 30 June 2017,” the business daily quoted the release as saying.The pre-bid meeting will be held by the Finance Ministry’s Department of Investment and Public Asset Management (DIPAM) on September 25and final bids from the buyer must reach the department by October 12.The tender has also outlined the detailed offer — Air India has an operating fleet of 142 aircraft comprising 65 Airbus A-320, 15 Boeing B777, 24 787, 23 737-800, 11 ATRs and 4 B747. The carrier plies in 42 international and 70 domestic destinations.Low-cost carrier IndiGo’s parent company InterGlobe Aviation and Bird Group have already expressed interest in bidding for Air India and have written to the Civil Aviation Ministry.In July, IndiGo’s co-founder Rakesh Gangwal had said that the budget airline is interested in Air India’s international operations and that of its low-cost international subsidiary Air India Express.Currently, Air India has an accumulated debt of about Rs 50,000 crore and staff strength of around 20,000. It earned an operating profit of Rs 105 crore in 2015-16 on total sales of Rs 20,526 crore.The carrier is owned by the central government and its share capital as on March 31 was Rs 24,425 crore.Back in June, the Modi government had approved an in-principle sale of Air India. “The Cabinet today gave an in-principle approval to the divestment of Air India,” Union Finance Minister Arun Jaitley had said.last_img read more