27 minutes ago

NHPC has declared commercial operations of the fourth unit of its 2,000 MW Subansiri Lower Hydroelectric Project, located near North Lakhimpur on the Assam–Arunachal Pradesh border. The INR 27,000 crore project comprises eight units of 250 MW each, with half now operational. Recognised as India’s largest hydropower project, the development is being executed as a run-of-river scheme on the Subansiri river. The phased commissioning is expected to enhance power generation capacity and strengthen regional electricity supply as the remaining units are brought online.Read more

57 minutes ago

Banking sector margins are expected to remain under pressure due to strong loan growth and rising deposit costs, with mid-sized lenders likely to be more affected. According to recent industry data reported in the past week, net interest margins (NIMs) remained flat or declined marginally in the March quarter as competition for deposits intensified. Deposit growth has lagged credit expansion, prompting banks to raise interest rates on term deposits and rely on higher-cost funding sources. While retail loan demand continues to support credit growth, analysts indicated that margin compression could persist in the near term, particularly for lenders with higher reliance on bulk deposits and limited low-cost current and savings account (CASA) bases.Read more

1 hour ago

Builders FirstSource has revised its 2026 revenue forecast downward due to continued weakness in the residential housing market. The company reported lower-than-expected first-quarter earnings and a decline in net sales compared to the previous year. Housing demand has remained under pressure because of high property prices and elevated interest rates, affecting affordability for buyers. Alongside the revised outlook, the company has also approved additional share buybacks, taking its total repurchase authorization to USD 500 million. The update reflects broader challenges being faced by construction and housing-related businesses.Read more

Mumbai News Desk

1 hour ago

The Brihanmumbai Municipal Corporation (BMC) has outlined a plantation plan covering 65 acres in Aarey, Mumbai, as part of its afforestation and environmental management efforts. The initiative follows a site inspection conducted in the past week by senior civic and forest officials. The proposed plantation will be undertaken after the monsoon and is intended to enhance green cover in the area. Authorities indicated that the exercise also aligns with broader environmental targets, including compensatory afforestation and sustainability measures linked to urban infrastructure projects.Read more

Mumbai News Desk

2 hours ago

The Bombay High Court has directed the Railways to pay INR 8 lakh compensation to the family of a teenager who died after falling from a suburban train, overturning an earlier tribunal decision. The ruling, delivered in the past week, came nearly 17 years after the incident near Jogeshwari station in Mumbai. The court held that the Railway Claims Tribunal had erred in not considering crucial evidence, including testimony from a co-passenger. The case pertains to a 2009 accident involving a 16-year-old who fell from a crowded train while travelling within the city’s suburban rail network.Read more

2 hours ago

National Company Law Tribunal has approved a resolution plan worth INR 730 crore for Rajesh Business & Leisure Hotels Pvt Ltd, enabling the revival of a stalled hospitality project in Mumbai. The plan, submitted by a consortium of Rare Asset Reconstruction Company and Check-Inn Hotels (a subsidiary of Shree Naman Group), received unanimous approval from the Committee of Creditors. The company had been undergoing insolvency proceedings since 2022 following a loan default. The approved plan provides for settlement of creditor dues, infusion of fresh capital, and completion of the long-delayed hotel project. The decision concludes a prolonged insolvency process and allows transfer of control to the successful resolution applicants.Read more

3 hours ago

Coal India Limited has operationalised a 100 MW solar power plant in Gujarat, marking progress in its renewable energy expansion strategy. The project received commissioning certification from the Gujarat Energy Development Agency, effective at the end of FY26. The development comes as the state-owned miner works towards scaling up its clean energy portfolio, following observations by the Comptroller and Auditor General of India regarding delays in achieving its 3,000 MW solar capacity target. The move reflects ongoing efforts to diversify beyond coal-based operations and strengthen renewable energy capacity.Read more

3 hours ago

Shubham Housing Development Finance Company is in discussions to raise around INR 2,000 crore through an initial public offering (IPO), which is likely to be filed in the current financial year. The affordable housing lender has reportedly engaged investment bankers and is evaluating listing plans amid improving demand for housing finance in lower-income segments. Backed by investors including Multiples Private Equity and Accel India, the company has shown steady growth in assets under management and disbursements. The proposed IPO is expected to support capital requirements and expansion in the affordable housing finance segment.Read more

4 hours ago

Securities and Exchange Board of India has proposed aligning securitisation norms for listed debt instruments with the regulatory framework of the Reserve Bank of India, as part of efforts to standardise market practices. The proposal, outlined in the past week, also includes relaxation provisions for certain transactions involving RBI-regulated entities. The move is aimed at improving consistency between capital markets and banking regulations while addressing structural gaps in securitisation transactions. The proposal is expected to impact originators, investors, and intermediaries involved in structured finance and debt market instruments.Read more

4 hours ago

Indian Hotels Company Limited and Lemon Tree Hotels led hotel room additions in India during calendar year 2025, according to a report by HVS Anarock. A total of 14,199 branded hotel rooms were added during the year, marking a 5% increase over 2024. While overall room supply grew, new property openings declined to 176 from 200 in the previous year. Domestic hotel operators accounted for the majority of expansion, contributing 70% of new openings and 57% of total room additions. The data reflects sustained demand in the hospitality sector, driven by domestic travel and expansion beyond metro cities into emerging markets.Read more

4 hours ago

Caterpillar Inc. has increased its annual and long-term revenue forecasts, supported by strong demand from AI-led data centre expansion and infrastructure development. Growth in its power generation and construction segments has driven higher sales, while its order backlog reached a record USD 62.7 billion. The company also reported better-than-expected quarterly results, with revenue and profit surpassing market estimates. At the same time, it lowered the expected financial impact from tariffs after policy changes. The performance highlights Caterpillar’s role as a key indicator of global industrial activity.Read more

5 hours ago

Larsen & Toubro has secured a large engineering, procurement and construction (EPC) order valued between INR 2,500 crore and INR 5,000 crore for a coal-to-ammonium nitrate project in Odisha. The contract has been awarded by Bharat Coal Gasification and Chemicals Ltd, a joint venture of Coal India Limited and Bharat Heavy Electricals Limited. The facility is designed to produce 2,000 tonnes of ammonium nitrate per day and is expected to support domestic industrial demand while reducing import dependence. The development reflects continued investment in downstream coal utilisation and chemical manufacturing infrastructure.Read more

5 hours ago

India’s net direct tax collections grew by 5.12% year-on-year to INR 23.40 lakh crore in FY26, according to data released by the Central Board of Direct Taxes, but fell short of the revised target of INR 24.21 lakh crore. The shortfall follows income tax cuts introduced in the Union Budget, including a higher rebate threshold and revised tax slabs aimed at boosting consumption. Corporate tax collections recorded double-digit growth, while non-corporate tax revenues remained largely flat. Gross collections rose to INR 28.12 lakh crore, with refund outflows marginally lower. The data reflects a mixed trend, with stronger corporate performance offset by moderated personal tax growth amid policy changes.Read more

5 hours ago

National Company Law Appellate Tribunal has set aside an earlier order of the National Company Law Tribunal that admitted insolvency proceedings against Embassy Development, ruling that the application filed by Canara Bank was barred under Section 10A of the Insolvency and Bankruptcy Code (IBC). The tribunal held that the alleged default fell within the protected period introduced during the COVID-19 disruption, during which fresh insolvency proceedings were restricted. The case relates to a INR 200 crore claim linked to a corporate guarantee extended for a loan to Indiabulls Realtech. The appellate tribunal also criticised the lender’s approach, observing procedural lapses in filing the insolvency plea.Read more

6 hours ago

Tauron Polska Energia has received approval to build a new cogeneration plant in Lagisza, Bedzin, while its subsidiary Tauron Ciepo secured support for four units in a recent cogeneration premium auction. The total capacity of these units exceeds 100 MW. The company expects to generate around PLN 2.5 billion in revenue from the premium mechanism over the support period. Winning bids in the auction were priced between PLN 249.92 per MWh and PLN 274.77 per MWh. The development aligns with Tauron’s ongoing efforts to strengthen efficient heat and power generation.Read more

6 hours ago

Mahindra & Mahindra reported a 48.5% year-on-year increase in consolidated profit after tax for the March quarter of FY26, driven by strong performance in its automotive and farm equipment businesses. The company posted a quarterly profit of INR 5,259.91 crore, supported by a significant rise in revenue to INR 54,891.55 crore. For the full financial year, profit grew over 32% to INR 18,621.71 crore. The board has recommended a final dividend of INR 33 per share. The results reflect sustained demand across key business segments and improved operational performance during the financial year.Read more

7 hours ago

The Brihanmumbai Municipal Corporation has begun integrating its 3D digital model of Mumbai with key civic departments, including building approvals, property tax and estates. The move is aimed at improving transparency, strengthening revenue collection and reducing discrepancies in property data. The digital twin offers a detailed, layered view of the city, allowing officials to verify developments, detect unauthorised structures and cross-check approvals. The initiative builds on recent digital reforms, including AI-based systems, to streamline processes and improve efficiency in urban governance.Read more

7 hours ago

IHG Hotels & Resorts has entered Chhattisgarh with the signing of a franchise agreement for a 117-key Garner-branded hotel in Jagdalpur. The project, to be developed by Freedom Hospitality and managed by United Hospitality Management, will be located in the Bastar region. The development reflects the continued expansion of branded hospitality into emerging regional markets, supported by partnerships between global operators and domestic developers. The project is expected to strengthen organised hotel supply in the region and cater to growing travel demand in central India.Read more

8 hours ago

Canada’s economy recorded a 0.2% monthly growth in February, marking the fourth consecutive increase and aligning with market expectations. The growth was largely driven by strong performance in manufacturing, wholesale trade, and the mining and oil and gas sectors. Despite global uncertainties, including U.S. tariffs and geopolitical tensions, the economy has remained stable. However, sectors such as agriculture, construction, and public administration saw a decline. Early estimates suggest flat growth in March, with first-quarter GDP projected to expand at an annualised rate of 1.7%, slightly above central bank estimates.Read more

8 hours ago

Mumbai has initiated its first fully digital Census exercise, assigning a unique ID to each household to streamline data collection. Conducted by the Brihanmumbai Municipal Corporation, the process uses mobile-based enumeration and also allows residents to self-enumerate. The exercise was delayed from its earlier schedule due to the pandemic. The first phase focuses on housing conditions and basic amenities, while the second phase, scheduled for February–March 2027, will capture population data. Officials expect the digital approach to improve accuracy, reduce duplication, and support better urban planning.Read more

9 hours ago

Hyderabad, Bengaluru and Chennai recorded combined sales of 811 ultra-luxury homes priced at INR 10 crore and above during FY26, with total transaction value reaching INR 11,246 crore, according to a report by India Sotheby’s International Realty and CRE Matrix. Hyderabad accounted for the majority of transactions, followed by Bengaluru and Chennai. The report highlights differentiated demand patterns across the three cities, with variations in pricing, unit sizes, and buyer preferences shaping the ultra-premium residential segment in southern India.Read more

9 hours ago

The Karnataka government has operationalised all five flyovers at the Central Silk Board junction in Bengaluru, completing a 3.2 km double-decker road-cum-metro corridor aimed at easing congestion at one of the city’s busiest intersections. The final two flyovers were opened in the past week, enabling uninterrupted movement across key routes including HSR Layout, BTM Layout and Electronic City. Developed as part of the metro Phase 2A project along the Outer Ring Road, the infrastructure integrates elevated roadways with metro rail. Executed by Afcons Infrastructure, the project involved complex, phased construction under traffic constraints and is expected to reduce travel time significantly for daily commuters.Read more

10 hours ago

Elan Group has commenced construction of its ultra-luxury residential project, Elan The Statement, in Sector 49, Gurugram, following the award of an INR 840 crore construction contract to Tata Projects. Spread across approximately six acres, the development entails a planned investment of around INR 1,600 crore and will feature five residential towers with unit sizes ranging from about 4,285 sq ft to 7,270 sq ft. Designed by international firms, the project reflects continued activity in the premium housing segment in Gurugram. The launch of construction marks a key milestone in the execution timeline, with the developer strengthening its presence in the high-value residential market.Read more

10 hours ago

Martin Marietta Materials reported improved financial performance in the first quarter, supported by strong pricing and continued demand from infrastructure and non-residential construction. The company benefited from increased activity linked to data centres and early construction momentum in key regions. Profit per share came in slightly above market expectations, while revenue saw a notable year-on-year rise. The company has also issued a steady revenue outlook for the full year, with projections slightly exceeding analyst estimates, indicating continued confidence in infrastructure-led demand.Read more

11 hours ago

The Greater Chennai Corporation has introduced QR code-based payment options to maintain property tax collections during the election period, when many staff members are on poll duty. The initiative allows residents to pay dues digitally by scanning QR codes available on official platforms. With a collection target of around INR 900 crore for the current cycle, the civic body has already mobilised over INR 500 crore through online channels. The move is aimed at improving convenience, ensuring continuity in collections, and supporting recovery of pending dues without relying fully on physical collection systems.Read more

11 hours ago

Bewi Invest ASA has acquired a light industrial property in Oppdal through its subsidiary Corvus Estate AS. The transaction reflects the company’s continued focus on expanding its real estate portfolio, particularly in industrial and logistics assets. While financial details of the deal were not disclosed, the acquisition aligns with Bewi Invest’s broader strategy of investing in income-generating properties. Oppdal, known for its strategic location and growing commercial activity, has seen rising interest from investors in recent years.Read more

12 hours ago

The Mumbai–Pune Expressway Missing Link Project has been completed and opened to traffic, introducing a new alignment that bypasses the Khandala Ghat stretch. Inaugurated in the past week, the project includes a 650-metre cable-stayed bridge with 182-metre pylons, making it the tallest road bridge structure in India. Executed in part by Afcons Infrastructure, the package also comprises twin viaducts, expressway widening, and over 10 km of approach roads. The upgraded corridor expands capacity from six to eight lanes across a key section and is expected to improve travel time and safety along one of the country’s busiest intercity routes.Read more

12 hours ago

Mumbai registered 14,228 property transactions in April 2026 within the Brihanmumbai Municipal Corporation (BMC) limits, marking a 9 per cent year-on-year increase and the highest April performance in 14 years, according to Knight Frank India. Stamp duty collections crossed INR 1,100 crore, rising marginally by 1 per cent, indicating a shift towards mid-ticket housing. While registrations declined from March’s peak levels, the data reflects sustained end-user demand across primary and secondary markets. The trend highlights stable housing activity in the city, supported by consistent buyer participation despite a high base.Read more

13 hours ago

Eligibility for upper-floor residents under the Dharavi Redevelopment Project (DRP) has been made conditional on documentation strength and, in certain cases, the eligibility of ground-floor occupants. As per a government resolution issued earlier, residents who can establish occupancy before a November 2022 cut-off may qualify for 300 sq ft rehabilitation units outside Dharavi within the Mumbai Metropolitan Region. The policy introduces a hierarchy of documents, with affidavits placed at the lowest level and accepted only if supported by an eligible ground-floor household. The framework also restricts benefits to one dwelling per family and excludes applicants owning property under other housing schemes, marking a departure from earlier slum rehabilitation norms.Read more

13 hours ago

ITP Aero has commenced construction of its India manufacturing facility with an investment of INR 453 crore at Shamshabad, Hyderabad. The project, spread across 10 acres in Hardware Park Phase III, will produce critical aeroengine components and is expected to become operational by 2027. The facility is projected to generate around 350 skilled jobs initially, with workforce expansion to approximately 600 over time. The development reflects growing investments in aerospace manufacturing and precision engineering infrastructure in Telangana.Read more

14 hours ago

Wing Tai Holdings’ unit, along with Metrobilt Construction, has secured a residential land tender from Singapore’s Urban Redevelopment Authority at a bid price of SGD 533 million. The two companies will form a joint venture to develop the site into a housing project. The deal reflects continued developer interest in Singapore’s residential market despite cost pressures. Wing Tai, known for its premium residential projects, is expanding its development pipeline through this partnership. The project is expected to add to the city’s upcoming housing supply and aligns with ongoing urban planning efforts.Read more

14 hours ago

India has opened a major 600 km expressway in Uttar Pradesh, developed with an investment of around USD 3.82 billion (INR 362.30 billion). The project connects 12 districts and is expected to improve travel time between Meerut and Prayagraj significantly. Built by Adani Enterprises and IRB Infrastructure Developers, the six-lane greenfield corridor is being positioned as a key route for future industrial activity. The development comes as the government continues to increase infrastructure spending, with a strong focus on connectivity, economic growth, and regional development after the pandemic period.Read more

15 hours ago

India’s gross Goods and Services Tax (GST) collections rose 8.7% year-on-year to a record INR 2.43 lakh crore in April, surpassing the previous high recorded a year earlier. Growth was led by a sharp increase in tax revenues from imports, which rose 25.8%, while domestic collections grew at a more moderate pace of 4.3%. After accounting for refunds, net GST collections stood at approximately INR 2.11 lakh crore, reflecting a 7.3% increase. Refunds during the month also recorded a notable rise of 19.3%. The latest data indicates sustained economic activity and strong trade flows, particularly in imports, contributing to higher indirect tax collections at the start of the financial year.Read more

15 hours ago

The Dehradun administration has cancelled registrations of 17 homestays after inspections found multiple violations of Uttarakhand’s homestay rules. The action followed complaints about misuse of residential properties for commercial purposes and activities affecting public order. Authorities identified issues such as lack of fire safety systems, missing licences, improper guest record maintenance, and illegal leasing to third parties. Several units were also found operating beyond permitted capacity or without valid approvals. The administration has started removing these listings from official platforms and indicated that further checks will continue.Read more

16 hours ago

Nitin Gadkari reviewed a series of proposed national highway developments in Maharashtra during a meeting held in New Delhi. The review covered high-speed and high-density corridors, along with multiple expansion projects across key stretches. Discussions also included nine Build-Operate-Transfer (BOT) projects spanning 527 km. The focus remained on accelerating execution and improving connectivity across regions such as Nagpur, Gadchiroli, and Chhatrapati Sambhajinagar, with the aim of supporting regional economic activity and strengthening transport infrastructure.Read more

06 May 2026

The Haryana State Vigilance and Anti-Corruption Bureau (ACB) has initiated an extensive investigation into around 2,600 illegal colonies developed across the state in violation of planning regulations. The probe, directed by the Punjab and Haryana High Court, covers unauthorised residential, commercial, and industrial developments constructed without approvals from town planning and civic authorities. Officials from multiple departments, including Town and Country Planning and Urban Local Bodies, are under scrutiny for alleged collusion. The investigation, supported by land records and technical inputs, is in advanced stages, with administrative and penal action likely against those found responsible. The development highlights persistent challenges around unauthorised urban expansion and regulatory enforcement in Haryana’s real estate landscape.Read more

06 May 2026

The Chhattisgarh government has commenced construction of a pressurised lift irrigation project in Jashpur district with an estimated cost of INR 119 crore. The scheme, inaugurated in the past week, will irrigate over 4,933 hectares of land across 13 villages, benefiting predominantly rain-dependent farmers. Implemented under the Centre’s SAMRIDHI-M-CAD programme, the project involves a modern underground pipeline network replacing traditional canals. With partial central funding of INR 95.89 crore, the system will incorporate solar power, SCADA and IoT-based monitoring. Expected to be completed within six months, the project aims to improve water-use efficiency, support year-round irrigation, and strengthen agricultural productivity in the region.Read more

06 May 2026

The United States Trade Representative (USTR) has flagged Vietnam as a “Priority Foreign Country” in its latest intellectual property rights report, marking the first time in 13 years that any country has been placed in this highest-risk category. The move indicates serious concerns over Vietnam’s IP protection and enforcement practices and opens the door for a possible trade investigation under Section 301 of the Trade Act of 1974. The designation also follows allegations of weak enforcement and limited progress in negotiations with the US on intellectual property standards and compliance.Read more

06 May 2026

The Union government is preparing a dedicated scheme to promote floating solar projects, aiming to address land constraints in solar deployment and accelerate capacity addition. The proposal, discussed in the past week, seeks to encourage states to undertake larger-scale projects on water bodies, where installations offer higher efficiency due to natural cooling. India’s total solar capacity has reached 150.26 GW, up from 2.82 GW over the past decade, though floating solar accounts for only around 700 MW. The announcement was made alongside the launch of an expanded industry platform by the National Solar Energy Federation of India to support broader decarbonisation across sectors.Read more

06 May 2026

China’s railway network recorded its highest-ever single-day passenger movement during the peak of the May Day holiday travel period, carrying 24.8 million passengers, according to official data released by China State Railway Group and reported by Reuters. The surge reflects strong domestic travel demand during the holiday season. Authorities also projected that nearly 19.7 million passengers would travel on the following day of the holiday period. The spike in movement highlights continued strength in China’s tourism activity, which remains an important support factor for domestic consumption despite broader economic pressure.Read more

Mumbai News Desk

06 May 2026

The Bombay High Court has directed the Maharashtra government to refund INR 3 lakh in stamp duty to a homebuyer, holding that the amount was wrongly retained due to a procedural delay. The case relates to an incorrect stamp duty payment made during a property transaction, where the buyer selected the wrong category while purchasing e-stamps. Authorities had rejected the refund request citing a delay beyond the statutory six-month period. However, the court ruled that such technical grounds could not override a legitimate claim, particularly when the stamp was unused. The judgment reinforces judicial scrutiny over administrative decisions impacting homebuyers in property transactions.Read more

06 May 2026

Yuexiu Property Co Ltd has approved a significant connected transaction involving the disposal of multiple assets and business units, including Nansha IFC, Yungu Industrial Park, Zhigu Industrial Park, Bijie Hotel, and selected healthcare operations. The consideration for Nansha IFC alone has been set at RMB1.93 billion, payable in cash. The overall transaction is expected to reduce the company’s total assets by about RMB5,900 million, while generating net proceeds of approximately RMB4.46 billion. The company also expects to record an after-tax gain of around RMB108 million from the disposal of the identified entities.Read more

06 May 2026

In Palghar district, Maharashtra, 124 villagers from Varor have voluntarily handed over around 2.5 hectares of land to the administration for the Vadhvan Port project after agreeing to government terms. The parcel, comprising 41 subdivisions, is considered strategically important for port infrastructure and had faced delays due to survey disputes. The land transfer follows direct consultations between officials and residents, with landowners opting to settle compensation matters without litigation or advance payment. The INR 76,220 crore greenfield port, being developed near Dahanu by a joint venture between JNPA and the Maharashtra Maritime Board, involves large-scale marine reclamation and is expected to rank among the world’s major container ports.Read more

06 May 2026

The Clearing Corporation of India Ltd (CCIL) has been working on developing a platform to facilitate forward trading in government securities, building on a consultation framework it had outlined earlier. The move, highlighted in a recent update, draws from a proposal first issued in August 2021 that detailed trade lifecycle, risk management, and settlement mechanisms for such instruments. The initiative is aimed at enabling customised bond forward transactions in the over-the-counter market, with participation expected from insurance companies and banks, subject to regulatory approvals from the Reserve Bank of India. The framework proposes integration with existing trading and reporting systems, alongside margin-based risk controls.Read more

06 May 2026

Amazon has introduced a new service, Amazon Supply Chain Services, allowing external businesses to access its logistics and delivery network. The system enables companies of all sizes to manage transportation, storage and delivery of goods ranging from raw materials to finished products. The offering includes Amazon’s freight, distribution, fulfillment and parcel shipping capabilities. Early adopters include major companies such as Procter & Gamble, 3M and American Eagle Outfitters. The announcement also influenced market sentiment, with logistics players UPS and FedEx seeing a decline in premarket trading.Read more

06 May 2026

Sobha Ltd reported a more than two-fold increase in consolidated net profit to INR 91.83 crore for the March quarter of FY26, supported by a significant rise in total income. The company’s quarterly income grew to INR 2,029.92 crore from INR 1,270.73 crore a year earlier. For the full financial year, profit also doubled to INR 193.40 crore, while total income rose to INR 5,383.76 crore. The Bengaluru-based developer’s performance reflects improved revenue generation across its operations during the period, indicating stronger business activity compared to the previous financial year.Read more

06 May 2026

US-based consulting firm EisnerAmper is expanding its presence in Mumbai with plans to increase headcount at its Global Capacity Centre (GCC) by 10% over the next three years and raise India’s share of its global workforce to around 30%. The firm has recently opened its second office in the city and committed over USD 5 million towards office space over the next three to five years. With a current GCC workforce of 1,000 employees, the company indicated potential for significant scaling, including a possible doubling of headcount. The expansion aligns with its broader strategy to double global revenue to USD 2.4 billion over the next four to five years, supported by investments in talent, infrastructure and technology.Read more

06 May 2026

The Securities and Exchange Board of India (Sebi) has imposed a penalty of INR 10 lakh on Axis Trustee Services Ltd for disclosure delays and governance lapses related to Embassy Office Parks REIT. The action follows a National Financial Reporting Authority (NFRA) order against the REIT manager’s former chief executive, which was not disclosed to unitholders for over 50 days despite being considered material information. Sebi observed that the trustee failed to act promptly and did not independently assess the ‘fit and proper person’ status of the executive as directed. Embassy Office Parks REIT, India’s first listed REIT, is managed by Embassy Office Parks Management Services Pvt Ltd and sponsored by Embassy Group and Blackstone. The regulator has emphasised the trustee’s responsibility in ensuring timely disclosures and compliance.Read more

06 May 2026

Espire Hospitality Limited has entered into an agreement with Marriott International to develop a JW Marriott Resort & Spa near Vrindavan. Spread across 14 acres, the project will feature 151 keys, including villas and a Presidential Suite, and is expected to be operational in the coming years. The development reflects a continued push towards expanding the ultra-luxury hospitality segment, with a focus on experiential stays, wellness amenities, and large-format event infrastructure catering to both leisure and corporate demand.Read more

06 May 2026

The Asian Development Bank (ADB) has announced a USD 70 billion programme aimed at strengthening energy and digital infrastructure across the Asia-Pacific region by 2035. The plan focuses on improving cross-border power connectivity, expanding renewable energy integration, and enhancing broadband access. A major share will be invested in a regional power grid initiative, while the rest will support digital networks such as fibre optics and data centres. The programme is expected to improve electricity access, reduce emissions, lower connectivity costs, and create millions of jobs, supporting long-term economic growth in the region.Read more