Construction braces for virus hit


Western Australia’s construction and commercial property sectors are bracing for the impacts of the COVID-19 pandemic, with imports of building materials likely to be disrupted and retail activity expected to plunge in coming weeks.

A potential shortage of construction materials has been a hot topic in east coast building markets for several weeks, with widespread closures of factories in China sparking fears of a depletion in Australian stock.

While many of those concerns had been alleviated in recent days as Chinese factories reportedly begin a return to normal operations, Western Roads Federation port carriers group chairman Matthew Bronickis told Business News a slowdown of imports was likely coming to the WA construction sector.

He said it was early days still for WA because cargo vessels delivered to the eastern seaboard before coming to WA.

“[So] we are a week and a half behind the east coast,” Mr Bronickis said.

“The east coast is feeling heavy disruptions, they are seeing downturns on imports in a substantial way.

“WA isn’t feeling it yet, but the pain’s about to be felt, where those shutdowns are starting to slow down shipping into WA.

“But a lot of products at stores such as Bunnings and

UP has got industrial investments worth Rs 3 trillion since 2017: CM


chief minister on Thursday claimed that the state’s industrial sector had received private and public sector investment of nearly Rs 3 trillion during the last three years of his regime.

Addressing a function here this afternoon, Adityanath said this investment had helped to create employment and self employment opportunities totalling 3.3 million since his government came to power in 2017.

“The state is constantly moving towards a new direction, and in addition to the industrial sector growth, several big infrastructure projects are also underway,” he added.

Meanwhile, he launched a slew of new schemes and projects related to the vocational education and skill development, including the setting up of ‘Yuva Hubs’ in all the 75 districts.

Last month, the ‘Yuva Hub’ scheme was allocated Rs 1,200 crore in the UP Annual Budget 2020-21 and it aims at providing employment to tens of thousands of skilled youth by assisting in project concept and financial help for one year of operation.

To facilitate setting up of 30,000 startups in the first phase of the scheme by integrating all the youth related schemes and

Airbus says India will require 1,880 new passenger, cargo aircraft by 2038


European aircraft maker Airbus, which represents 80 per cent of India’s order backlog, in its latest report said the country will require 1,880 new passenger and cargo aircraft by 2038 on conservative basis.

For the requirement, up to 20 per cent could be wide-bodies while 1,440 aircraft are for growth and 440 needed to replace the aircraft that will be retired during this period, according to the forecast. Taking into account the 440 retirements, India’s existing domiciled fleet of 510 aircraft will quadruple to 1,950 by 2038 as per the projections.

These figures are based on Airbus’ assumption that Indian middle class population will grow to 1 billion or 68 per cent of the total population by 2038 as compared to the present 540 million people coming in that bracket. The percentage of middle class people who travel by air will also be doubled from the present 10 per cent level besides a four-time increase in trip-per capita between now and 2038, according to the forecast.

The 20-year traffic growth in the Indian aviation sector is pegged at 7.7 per cent, almost twice the world average of 4.3

How do the changes announced in the budget actually affect your SME


In the recent budget there were a raft of announcements that could impact SMEs.

William Garvey MD of Leyton UK, walks through the implications of the budget and how they may impact on small businesses.

Philip Hammond’s ‘budget for grafters’ was much more detailed than initially anticipated. Amongst the many measures destined to stimulate the economy and encourage growth were some initiatives that relate directly to innovation funding for SME’s.

Industrial strategy

A welcome measure for innovating SMEs was the long-term support for research and development in support of the Modern Industrial Strategy. This ranges from nuclear fusion, AI to quantum computing. The Industrial Strategy has the objective of making the UK the most innovative nation by 2030 and help reach the government’s ambition of increasing the UK R&D investment to 2.4% of its GDP by 2027 through a £1.6b increased investment.

UK digital services tax

The introduction of a UK digital services tax was a headline grabbing measure in the budget. This however is aimed at the tech giants and not designed to discourage start-ups. It is targeted at profitable companies with > £500M worldwide revenue.

This applies to revenues generated from the provision of business activities such as

Subscribe Now