New Delhi’s metro, which is clean, modern, air-conditioned and quiet, is a stark contrast to the congested, smoggy roads of India’s capital.
Its first line opened in 2002 and in the years since then it has expanded its network across the city, with more than 200 kilometres of track. In its third phase of construction, work is under way to weave another 150km of lines to more areas.
The Delhi metro runs more than 2,800 train trips every day, carrying 2.8 million passengers daily.
“We are one of the few metro systems in the world making an operating profit from day one,” says Anuj Dayal, the executive director for corporate communications, at Delhi Metro Rail Corporation, a joint venture between India’s government and the government of Delhi. “The reason why we are able to make an operating profit is we are getting 20 per cent of our revenue through non-ticket resources.
“We are able to generate money through advertisements, shop rentals. We have built a hotel which we have given on lease. We have built an IT park on our land, which we have given on lease. If you rely only on ticket revenues you will definitely be in loss because of the high investment involved,” he says.
“These projects world over are justified, government spending is there, because of the high economic rate of return. The financial rate of return is always low.”
Ticket fares on the Delhi metro are among the lowest in the world, ranging between just 8 rupees and 30 rupees.
Sixty per cent of the funding for the project came from the Japanese government in the form of loans and the remainder was provided by the federal and local governments.
A major challenge is that the trains are often “chock full” and “since the metro is new to the country, we had to spend a lot of time educating the public on how to use the system”, according to Mr Dayal.
He says the corporation organised “street plays in which we had to tell people how to use escalators, to ensure that they stand in line, to ensure that they don’t get stuck in train doors, so the initial one or two years was a challenge”.
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Nayanthara: Beyond The Fairy Tale
Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni
Director: Amith Krishnan
Rating: 3.5/5
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COMPANY PROFILE
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
'Cheb%20Khaled'
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The Case For Trump
By Victor Davis Hanson
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
TO A LAND UNKNOWN
Director: Mahdi Fleifel
Starring: Mahmoud Bakri, Aram Sabbah, Mohammad Alsurafa
Rating: 4.5/5
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
What is blockchain?
Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.
The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.
Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.
However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.
Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.
'My Son'
Director: Christian Carion
Starring: James McAvoy, Claire Foy, Tom Cullen, Gary Lewis
Rating: 2/5
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Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
Cultural fiesta
What: The Al Burda Festival
When: November 14 (from 10am)
Where: Warehouse421, Abu Dhabi
The Al Burda Festival is a celebration of Islamic art and culture, featuring talks, performances and exhibitions. Organised by the Ministry of Culture and Knowledge Development, this one-day event opens with a session on the future of Islamic art. With this in mind, it is followed by a number of workshops and “masterclass” sessions in everything from calligraphy and typography to geometry and the origins of Islamic design. There will also be discussions on subjects including ‘Who is the Audience for Islamic Art?’ and ‘New Markets for Islamic Design.’ A live performance from Kuwaiti guitarist Yousif Yaseen should be one of the highlights of the day.
