Spaciya hits record 1 million sq ft in lease transactions
NEW DELHI: Real estate consultancy firm Spaciya Advisors said that it has achieved a milestone of closing 1 million sq. ft. of commercial real estate in Noida in a time span of 30 months. The deals were done across various domains such as staffing, banking, consulting, media houses, IT, logistics, training, telecom and manufacturing. Spaciya, which […]
Panasonic forms strategic alliance with E Ink
NEW DELHI: Panasonic India, a leader in innovation and technology, today announced a strategic alliance with E Ink, a pioneer in ePaper technology, to provide innovative display technology solutions for the retail industry in India. With this association, Panasonic is launching an all-new Electronic Shelf Labelling (ESL) solution to support retailors to improve operational efficiency […]
Signature Global launches Orchard Avenue 2 in Gurugram with an investment of Rs 175 crore
NEW DELHI: Realty firm Signature Global has announced its 15th affordable residential project Signature Orchard Avenue 2 in Sector 93, Gurugram with an investment of Rs 175 crore. Spreading to an area of 5 acres the project has easy and close connectivity to NH8, Pataudi Road, Dwarka Expressway, KMP Expressway, IGI Airport, IMT Manesar. Expected […]
RBI plans to structure loan rates of NBFCs, housing finance companies
NEW DELHI: After mandating banks to link their new retail loans to an external benchmark, the Reserve Bank of India (RBI) is now looking at structuring the interest rate regime for housing finance companies and shadow bankers, which together control over a fifth of the credit market, for better transmission, according to a source. Unlike […]
Ajnara to invest more than Rs 300 crore in Ghaziabad
NEW DELHI: Ajnara India, one of the leading real estate developers in Delhi NCR, plans to invest more than Rs 300 crore on Ajnara Fragrance in Raj Nagar Extension (RNE), Ghaziabad. Spread in an area of 5.6 acres, the project will have 450 units in all. Total saleable area of the project would be around […]
Supreme Court seeks status report from CBI, ED on investigation in coal scam cases
NEW DELHI: The Supreme Court on Tuesday asked two investigation agencies to give it a status report on their investigation of the coal block allocation scam cases. The court said it would take a practical view on the repatriation of Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) officers investigating their cases to their […]
Defectors will become history, says Sharad Pawar
NEW DELHI: NCP president Sharad Pawar on Tuesday said those who left the party would lost their political relevance in the coming Assembly elections in Maharashtra. Several NCP leaders including former ministers have crossed over to the ruling BJP or Shiv Sena ahead of the state elections. Addressing a rally at Solapur in western Maharashtra, […]
Sensex sinks 642 points as crude oil woes persist
NEW DELHI: Market benchmark BSE Sensex on Tuesday plummeted 642 points as investors weighed India’s fiscal worries due to soaring crude prices in the wake of growing geopolitical tensions in the Middle East. After nosediving 704 points, the 30-share index ended 642.22 points, or 1.73 per cent, lower at 36,481.09. The broader NSE Nifty too […]
Coffee Day inks deal with Blackstone to sell Global Village for Rs 2,700 crore
NEW DELHI: Coffee Day Enterprises on Tuesday said it has signed definitive agreements with private equity major Blackstone and Salarpuria Sattva Group for sale of Global Village Tech Park at an enterprising value of Rs 2,700 crore. The company board had recently approved the sale of prime real estate property GV Tech Park as part […]
India considering another ‘booster dose’ to revive economy
NEW DELHI: India’s finance ministry is working on one more booster dose to give a leg-up to the economy that has hit over six-year low of 5 per cent, a senior finance ministry official said. The blue print for the stimulus is ready that would be announced by Finance Minister Nirmala Sitharaman in the next […]
IL&FS to sell over 450 acres situated in Telangana, Andhra Pradesh and Uttar Pradesh
MUMBAI: Debt-ridden IL&FS Group has put on block nearly 494 acres of land parcels across three states including Telangana, Andhra Pradesh and Uttar Pradesh, held by its subsidiary Hill County Properties (HCPL). IL&FS, through its group firms IL&FS Township and Urban Assets and IL&FS Engineering and Construction Company holds a total of 80 per cent […]
IFC invests Rs 345 crore in Aavas Financiers
NEW DELHI: Affordable housing financier Aavas on Monday said it has received a Rs 345 crore investment from World Bank arm IFC. Aavas will use the proceeds to grow its affordable housing finance programme in rural and semi-urban areas of Rajasthan, it said. Aavas Financiers Limited (Aavas) has received an investment of Rs 345 crore […]
SBI to move RBI to offer fixed-floating rate home-loans
LEH: The largest lender State Bank of India (SBI) will be seeking clarifications from the Reserve Bank of India (RBI) whether it can offer long-term home loans with fixed rates in the beginning and convert the same into floating rates later, chairman Rajnish Kumar has said. The move comes after the Reserve Bank has mandated […]
Global investors bet $45 billion on Narendra Modi’s India. Now they are reversing it
By Ronojoy Mazumdar & Jeanette Rodrigues NEW DELHI: After pouring $45 billion into India’s stock market over the past six years on hopes that Modi would unleash the country’s economic potential, international money managers are now unwinding those wagers at the fastest pace on record. They’ve sold $4.5 billion of Indian shares since June, on […]
Air India’s monthly fuel bill might rise by Rs 50 crore after Aramco attack
NEW DELHI: Air India’s monthly fuel bill might rise by at least Rs 50 crore if the crude oil prices continue to surge in the wake of drone attacks on oil facilities in Saudi Arabia, a senior airline official said on Monday. The national carrier’s fuel bill every month is around Rs 500 crore. According […]
Government asks Apple to export more from India, promises sops for company
NEW DELHI:The government of India on Monday exhorted iPhone maker Apple to expand manufacturing base in India, and use the country as export hub, as it promised to line up fresh incentives and sops to galvanise electronics as well as phone industry in coming 2-3 months. Apple’s manufacturing investment so far is only the “tip […]