Louise Street to reach new heights


A $17.6 million six-storey residential development on Louise Street in Nedlands has been recommended for approval, following initial community and council opposition. 

The proposal for 17-19 Louise Street was lodged by Hillam Architects last year and was subsequently revised down from comprising 44 dwellings to 37 dwellings following several amendments prompted by public consultation and council recommendations.  

The project was the first development application on Louise Street seeking to adhere to revised residential codes that permitted more height, as a result of the gazettal of a new local planning scheme in April 2019.

Since the rezoning changes there’s been a wave of development applications lodged with the City of Nedlands for apartment projects ranging in size from three to more than 20 storeys.

A recommendation for 17-19 Louise Street was previously deferred to enable the developer to submit more information on waste management, street trees, landscaping and overshadowing, with special council minutes from May 5 outlining several reasons for refusal including “visual privacy concerns over the entire neighbourhood from the upper storeys, particularly the rooftop”.

Other points for refusal from that special council meeting included being that it did “not consider the heritage value of the Peace Memorial Gardens. This

States continue to tap cheap rates to borrow more than originally planned


In a marked departure from the original plan, states took advantage of cheap market rates and borrowed extra. Seven state governments in line to borrow Rs 9,000 crore, ended up borrowing Rs 12,000 crore from the markets.

The spread between the equivalent maturity government bonds and state development loans was 55-65 basis points (bps). This is a considerable spread contraction when compared with nearly 150-bps spread over government securities the states had to pay in the first auction of the financial year.

On Tuesday, Andhra Pradesh, Gujarat, Kerala, Maharashtra, Rajasthan, Tamil Nadu, and West Bengal borrowed money. Except Andhra Pradesh and West Bengal, every other state borrowed extra.

Gujarat raised Rs 1,500 crore instead of Rs 1,000 crore for a 10-year bond at 6.54 per cent.

ALSO READ: Decline in tax revenue collection narrows to 37% in May as economy picks up

Kerala raised Rs 1,000 crore, against Rs 500 crore planned at 5.53 per cent for a five-year bond.

Maharashtra borrowed Rs 2,000 crore, against Rs 1,000 crore planned at 4.63 per cent for a three-year bond.

Rajasthan raised a

TCS board to meet on Jul 9 to approve financial results for June qtr


IT services major Tata Consultancy Services on Tuesday said its board will meet on July 9 to approve the financial for June quarter.

“…a meeting of the Board of Directors of TCS Limited is scheduled to be held on Thursday, July 9, 2020, inter alia to approve and take on record the audited financial of the company under Indian Accounting Standards (Ind AS) for the quarter ending June 30, 2020,” TCS said in a regulatory filing.

It added that the board will also consider declaration of interim dividend to equity shareholders.

“The interim dividend, if declared, shall be paid to the equity shareholders of the company whose names appear on the Register of Members of the company or in the records of the Depositories as beneficial owners of the shares as on Friday, July 17, 2020 which is the record date fixed for the purpose,” the filing said.

Pakistan’s PIA Suspended In Europe Over Fake Pilot Licence Scandal


Regulators have barred Pakistan International Airlines from the European Union for six months after the state-run carrier grounded nearly a third of its pilots for holding fake or dubious licences, officials said Tuesday.

The European Union Aviation Safety Agency (EASA) told PIA “it is still not sure” if all the remaining pilots are properly qualified, and “they have lost their confidence” in the airline, PIA spokesman Abdullah Khan told AFP.

In a statement, the EASA said it had suspended PIA and a smaller private Pakistan airline “in view of the recent investigation reported on in the Pakistani Parliament which revealed that a large share of pilot licenses issued in Pakistan are invalid”.

PIA has only flown limited international flights for months as a result of the coronavirus.

A resumption of domestic operations last month was followed by a crash blamed on pilot error that killed 98 people.

PIA had recently resumed bookings for five European capitals cities, including Paris, Milan and Barcelona.

Flights to Britain, which is no longer in the EU, had not been affected, Khan said.

The EU suspension is the latest fallout for PIA after the aviation minister told parliament last week that a government review had

Subscribe Now