City approves $140m CBD towers


Revised plans for two new towers at the old Emu Brewery site in Perth have officially been given the green light, following the City of Perth Local Development Assessment Panel’s recommendation for approval by absolute majority last week.…

Reality of realty post-Covid-19: Here’re factors that may impact growth


With the Covid crisis continuing to wreak havoc in the market, its short-term impact in the coming 6–12 months is likely to be quite a dampener for the recovery of the real estate sector, forcing the players to contract operations, revisit planned developments, expansions, and investments. In the medium term, the recovery process will see rapid traction, bringing new opportunities while long-term outlook in the coming 18–24 months may likely emerge positive.

A look at the impact of Covid-19 on the sector:

Tariffs unsustainably low, more needs to be done, says Bharti Airtel CEO


on Tuesday said that while the telecom industry has seen some bit of repair, continue to be “unsustainably low”, as it exhorted the sector regulator to address the floor price issue “sooner than later”.

In an earnings’ call, CEO, India and South Asia, Gopal Vittal, said although the company is by-and-large comfortable with its spectrum holding and has the required headroom, it is keen to have sub-GHz footprint across the country to plug some gaps.

Airtel had, on Monday, reported Q4 loss at Rs 5,237 crore, mainly on account of provisioning for paying statutory dues, while its full year losses ballooned to a record Rs 32,183 crore.

Vittal said the industry has witnessed some repair but emphasised that more needs to be done on tariffs, which are still unsustainably low. “We believe that an ARPU (Average Reveue Per User) of Rs 154 is inadequate to turn a reasonable Return on Capital as a company and remain hopeful that ARPUs will get to Rs 200 in the short term and eventually to Rs 300 which is where it should be for a business like ours. Of course, even at this level

Canada, US Border Closure Extended Until June 21: Trudeau


The Canada-US border will remain closed to all non-essential travel for another month, until June 21, to fight the spread of the coronavirus, Canadian Prime Minister Justin Trudeau announced Tuesday.

The world’s longest international frontier at 8,900 kilometers (5,500 miles) was closed to travellers on March 21, but trade in goods has continued.

Trudeau at his daily briefing said this second extension of the border closure was “important … to keep people in both of our countries safe.”

The prime minister also left open the possibility of further extensions, saying: “We will continue to watch carefully what’s happening elsewhere in the world and around us as we make decisions on next steps.”

Some Can$2.4 billion (US$1.7 billion) worth of goods and more than 400,000 people crossed the border each day on average, prior to the pandemic.

Since its closing in March, the number of travellers crossing from one country to the other has fallen to a trickle.

ASX gains 1% as iron ore and gold soar



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WTO must come out of ventilator and work to revive multilateralism: Prabhu


Suresh Prabhu, the prime minister’s sherpa at the G20, said on Monday that the World Organization is on a ventilator and it has to come out of it.

“A new world is going to unfold and we don’t know as yet what it would look like. Multilateralism per se is under a very serious threat. The question is how to deal with this threat when it (multilateralism) is needed most,” he said on a webinar organised bY Consumer Unity & Trust Society International (CUTS).

Referring to India’s initiative following the Buenos Aires ministerial conference in December, 2017, which could not agree on a consensus-based ministerial declaration, he said,“We have to find a solution. It can’t be one way or another. WTO’s reforms have to take into account the interests of all members. It has to come out with a forward-looking agenda in an inclusive manner.”

He urged CUTS to write a paper on “what would happen to a world without the WTO”. “We need to find a clear answer to this question. For India to grow, we need a body like the WTO to govern world trade,” he

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