India's quick-service restaurant (QSR) industry is showing early signs of demand recovery, but Macquarie highlights rising costs and intensifying competition from food-delivery aggregators as reasons for its cautiousness. According to Macquarie, post-fourth-quarter trends indicate a gradual improvement in dine-in demand across restaurant chains. Within the sector, Macquarie remains most constructive on franchise operators Devyani International, Sapphire Foods and Westlife Foodworld. However, the recovery remains uneven and is being overshadowed by inflationary pressures and the growing dominance of delivery platforms such as Zomato and Swiggy. The brokerage said same-store sales growth across the listed QSR universe is tracking broadly in line with or slightly ahead of fourth-quarter levels. However, restaurant brands continue to trail delivery aggregators in growth, highlighting a structural shift in consumer behaviour. To counter this trend, restaurant operators have increa...
Two flights from India to Qatar have been cancelled after Iran launched a missile attack on the US air base in Doha. IndiGo and Air India operated these flights. The IndiGo flight was supposed to fly from Delhi, while the other flight was scheduled from Cochin. Several other airlines have also either diverted their flights or returned them to their origin airports over the tense situation in the Middle East.
Air India Express diverted its Doha-bound flight from Kochi to Muscat and returned its flight, which was scheduled from Kannur. "We have no other flights bound for Qatar," it said in a statement.
"We are monitoring the situation closely and will take all necessary precautions for the safety and security of our guests and crew, with inputs from the relevant authorities," it added.
Iran's military said on Monday it had carried out a "devastating and powerful" missile attack on the Al Udeid US airbase in Qatar, after explosions were heard across the Qatari capital following Tehran's threat to retaliate for US airstrikes.
Kuwait said it was closing its airspace "until further notice" on Monday after a similar move from Bahrain as Iran attacked a US base in Qatar in retaliation for American strikes in Iran.
Meanwhile, Qatar has strongly condemned the attack, announcing it reserves the right to respond directly in a manner equivalent to the "nature and scale of this brazen aggression", in line with international law.
The White House and the Defense Department are closely monitoring potential threats to the Al Udeid airbase, a senior White House official said.
from NDTV News- Special https://ift.tt/1sWzJMG
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