City Beat: Billionaire Watsa's Bengaluru Airport Bid Gets Ministry Go Ahead [Video]
The Ministry of Civil Aviation has given its approval to Fairfax Financial Holdings Chairman Prem Watsa's plan to hold a 38 per cent stake in the Bengaluru International Airport Ltd. A year ago, the India-born Canadian billionaire unveiled his plans to buy a combined 38 per cent stake in the project from infrastructure major GVK (33 per cent) and Flughafen Zurich (five per cent). This has been the biggest Indian investment by the Canadian major so far. After the deal is finalised, Fairfax will hold the majority stake at 38 per cent, followed by Siemens Project Ventures' 26 per cent, and the Government of India and the government of Karnataka's 13 per cent, each. GVK will be holding 10 per cent stake in the seven-year old airport, and will be responsible for its maintenance.
Meanwhile, at a City Momentum Index-2017, Bengaluru, considered India's Silicon Valley, has been ranked the most dynamic city in the world. The rankings are based on a city's ability to respond to economic and technological change in the global market. The Karnataka capital found its place for the first time at the index at number 12 in 2015. In 2016, its ranking climbed to fourth. Also, the top 30 slots at the index are dominated by Indian cities.
In a bid to monitor the activities of its staff towards the vehicle drivers, the Bengaluru Traffic Police have issued 50 body cameras to seven police stations. Weighing 150 grams each, these body cameras work like wireless communicators, and can record audios or videos for up to 10 hours. Based on the success of this pilot project, the Bengaluru Traffic Police might provide body cameras to police stations across the city.