Boman Irani, managing director of Rustomjee, calls it an “asset-light model” for Mumbai’s real estate developers that offers a huge respite from an ever-increasing expenditure for land purchases. Irani should know as Rustomjee, which trades as Keystone Realtors, is the largest operator in redevelopment space. “Redevelopment will continue to serve as a key driver of
The country’s secondary steel producers, contributing around 40% of domestic steel production, have formed a national-level apex industry body, the National Sustainable Steel Association (NSSA). The move comes in the wake of the sharp divide in the steel sector, with primary steel makers seeking protection from cheap imports in the form of safeguard duty and
It’s been an action-packed year for the competition watchdog both in terms of the umber of cases handled, and the changes made in the current regulations to both strengthen the commission, and to create a conducive environment for businesses. In March, the Competition Commission of India (CCI) notified two much-needed tools – commitment and settlement
The department of telecommunications (DoT) has projected state-owned Bharat Sanchar Nigam (BSNL) to turn profitable in FY27 with a profit of Rs 558 crore. The projections are based on the potential increase in revenues expected in the coming years with the launch of 4G and 5G services. For FY27, DoT it has projected the company’s
Despite the demand from some partners for inclusion of investment protection treaties in the free trade agreements that are under negotiation, India would stick to its stand of signing separate treaties for investments and not making them part of FTAs, a senior official said. India is currently negotiating trade agreements with the UK, European Union
Avaada Group is looking to raise $1 billion (over Rs 8,400 crore) in debt by March next year to fund its projects. “We will raise this debt to fund wind, solar and other projects. We have already raised equity,” chairman Vineet Mittal told FE. The group has an operational capacity of over 4 gigawatt (GW)
Starbucks workers’ union, representing more than 10,000 baristas, initiated a five-day strike on Friday, citing unresolved issues related to wages, staffing, and schedules. Initially impacting Starbucks stores in Los Angeles, Chicago, and Seattle, the strike is now expanding to Columbus, Denver, and Pittsburgh. The union, Workers United, plans to escalate the walkouts, potentially involving “hundreds
Luxury sells. And, the capital leads in lapping it up. With this month’s landmark deal of a flat in Gurugram’s DLF Camellias for Rs 190 crore, luxury real estate in Delhi-NCR is on a new high. Among the top seven cities in India, Delhi-NCR stood out with a remarkable 64% share of luxury residential launches
Quick commerce platform Zepto will start selling Apple products, including the latest iPhone 16e, on its platform this week, according to people with direct knowledge of the development. The assortment will have iPads, Apple Watches and AirPods, among other accessories. This comes just two weeks after its rival Blinkit announced it would start delivering other
The planned imposition of the claimed reciprocal tariffs on imports by the Donald Trump administration will impact Tata Motors and Samvardhana Motherson International (SAMIL), research and rating agency Moody’s said on Monday. Vehicle exports to the US are limited at around 3% of total exports for India. However, auto parts suppliers and luxury carmakers selling
Religare Enterprises (REL) on Monday said it has commissioned a governance review of the company and subsidiaries, Religare Finvest and Religare Housing. It has also sought immediate funds from its promoters — the Burman family — to sustain operations. “The objective is to review the past operating practices, suggest improvements around systems and controls for future
Ashok Ambade, a property broker in Thane near Mumbai, says he has seen a 10-20% drop in buying enquiries in the last six months. “There are very few buyers now,” Ambade, who has been in the business for 20 years now, adds. Vineet Matlani, another broker, pegs the decline in enquiries at an even higher
The Centre in January this year announced the 8th Pay Commission, which will submit its report to the central government for revision of salaries and pensions. Ever since the pay panel was announced, central government employees and pensioners have been eagerly awaiting the appointment of 2 committee members and the chairman. The government is expected