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Ruble surges in 2025: Russian currency emerges as top performer against US dollar; why it’s a headache for its war economy – The Times of India
The Russian currency Ruble emerged as the top-performing major currency against the US dollar this year, surging 45% since January. This unexpected strength caught Russian officials off guard and poses challenges for the country’s war-affected economy. The currency is now trading around 78 per dollar, similar to levels before Russia’s Ukraine invasion, as reported by Economic Times.The surge comes from several factors. Russians are buying less foreign currency due to international sanctions. High interest rates have also made ruble investments more attractive to locals. The central bank kept rates very high from October last year until June this year, before reducing them by 5 points to 16 per cent.This strong performance has exceeded government expectations, which predicted an average rate of 91.2 per dollar for the year. The ruble has stayed strong despite lower oil prices and new sanctions from the US and Europe. This strength is actually causing problems by reducing the value of export earnings when converted to rubles.The Bank of Russia has been supporting the currency by selling foreign currency, particularly yuan and gold, from the National Wellbeing Fund. This is helping offset declining energy revenues, with oil and gas income dropping 22% in the first 11 months of 2023.The ruble’s impressive performance puts it among the world’s top five performing assets this year, alongside precious metals like platinum, silver, palladium, and gold. Central Bank Governor Elvira Nabiullina sees this strength as helpful in fighting inflation, noting that its positive effects on prices haven’t yet peaked.
Business
Noida International Airport inauguration: Delhi-NCR gets new airport – all you need to know – The Times of India
NEW DELHI: Prime Minister Narendra Modi on Saturday inaugurated Phase I of the Noida International Airport at Jewar in Uttar Pradesh, marking a significant milestone in India’s expanding aviation infrastructure.PM Modi was accompanied by Uttar Pradesh chief minister Yogi Adityanath and Governor Anandiben Patel.
Developed at an investment of around Rs 11,200 crore under a Public–Private Partnership (PPP) model, the project is expected to enhance both regional and international connectivity for the National Capital Region (NCR).The airport is being positioned as a key addition to India’s aviation network, aimed at easing pressure on existing infrastructure while supporting the country’s ambition of becoming a global aviation hub.
Second international gateway for Delhi NCR
Noida International Airport has been developed as the second international gateway for Delhi NCR, complementing the existing Indira Gandhi International Airport, which currently handles the majority of the region’s air traffic.
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With rising passenger demand and capacity constraints at IGI Airport, the new facility is expected to play a crucial role in distributing traffic more efficiently.Together, the two airports will function as an integrated aviation system, helping reduce congestion, improve connectivity, and enhance the region’s standing among leading global aviation hubs.
Phase I capacity and future expansion plans
Phase I of the airport is designed to handle 12 million passengers per annum (MPPA), providing immediate relief to the region’s growing air travel demand.The project has been planned with scalability in mind, with provisions to expand capacity to 70 million passengers annually in subsequent phases. This long-term vision reflects the government’s strategy to future-proof infrastructure and accommodate sustained growth in air travel.
Modern infrastructure and all-weather operations
The airport features a 3,900-metre runway capable of handling wide-body aircraft, making it suitable for both domestic and international long-haul operations.
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Equipped with advanced navigation systems such as the Instrument Landing System (ILS) and modern airfield lighting, the facility is designed to support efficient, all-weather, round-the-clock operations. These features ensure operational reliability even under challenging weather conditions.
Cargo hub and logistics ecosystem
In addition to passenger services, the airport includes a comprehensive cargo ecosystem aimed at strengthening logistics and trade.The Multi-Modal Cargo Hub comprises an Integrated Cargo Terminal and dedicated logistics zones, with an initial handling capacity of over 2.5 lakh metric tonnes annually. This capacity is expected to expand significantly to around 18 lakh metric tonnes in the future, positioning the airport as a major cargo and logistics centre in North India.
Dedicated MRO facility to enhance efficiency
A key component of the airport’s infrastructure is a 40-acre Maintenance, Repair and Overhaul (MRO) facility.This dedicated facility is expected to improve operational efficiency by enabling airlines to service and maintain aircraft locally, reducing turnaround times and operational costs. It also strengthens India’s capabilities in aviation maintenance services.
Sustainability and future-ready design
Noida International Airport has been designed as a sustainable and future-ready infrastructure project, with a focus on achieving net-zero emissions.The project incorporates energy-efficient systems and environmentally responsible practices, aligning with India’s broader climate goals. The airport’s development reflects a growing emphasis on green infrastructure in large-scale projects.
Architecture inspired by Indian heritage
Blending modern infrastructure with cultural aesthetics, the airport’s architectural design draws inspiration from traditional Indian elements such as ghats and havelis.This approach aims to create a distinctive identity for the airport while offering passengers a sense of place rooted in Indian heritage.
Strategic location and multi-modal connectivity
Strategically located along the Yamuna Expressway in Gautam Buddha Nagar district, the airport is planned as a multi-modal transport hub.It will feature seamless integration with road, rail, metro and regional transit systems, ensuring smooth connectivity for passengers and cargo. This connectivity is expected to significantly improve accessibility for travellers across Delhi NCR and neighbouring regions.
Boost to India’s aviation ambitions
The inauguration of Phase I of Noida International Airport is being seen as a major step in strengthening India’s aviation ecosystem.By expanding capacity, improving connectivity, and integrating modern infrastructure with sustainability, the project is expected to play a key role in positioning Delhi NCR as a major global aviation hub while supporting economic growth and regional development
Butter, chocolate, coffee and milk have all seen prices rocket. Tracing back through the story of one particular supermarket staple begins to explain why
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MUMBAI/BENGALURU: The restaurant industry is struggling to run regular operations due to the meagre supplies of LPG cylinders . With the govt’s move to hike commercial LPG allocation to up to 70%, it will take some time before the measure actually translates into sustained supply, executives said. “Supply is still hugely limited and erratic. A feeling of uncertainty looms large,” said Anurag Katriar, founder at Indigo Hospitality. The key question is how quickly this revised allocation will translate into on-ground availability, said Pradeep Shetty, vice-president at Federation of Hotel & Restaurant Associations of India (FHRAI).A walk along Indiranagar’s 12th Main, known for its cluster of independent restaurants, reflects the strain. “It is all hand-to-mouth at this point,” said Nikhil Gupta, who runs brands including The Pizza Bakery and Paris Panini . The move doesn’t directly help the restaurant sector which is still getting 20%-30% of LPG supplies, said Sagar Daryani, co-founder & CEO at Wow! Momo Foods and president at National Restaurant Association of India (NRAI). State-wise, the supply situation varies with some such as Maharashtra, Karnataka, Rajasthan restricting allocation for restaurants, hurting the sector , Daryani said.
Zayn Malik shares personal video message on ‘Mind of Mine’ 10th anniversary
EU Parliament, Council reach deal on major reform of Customs Code
Noida International Airport inauguration: Delhi-NCR gets new airport – all you need to know – The Times of India
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