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economy
GST Council approves transition plan for new tax rates for real estate sector

NEW DELHI: The all-powerful GST Council Tuesday approved a transition plan for the implementation of new tax structure for housing units, Revenue Secretary A B Pandey said.Reasonable time for transition will be given to developers in consultation with states, he told reporters here.The meeting deliberated on the transition provision and related issues for the implementation…

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economy
Kotak Realty fund partners with DivyaSree for commercial office opportunities

MUMBAI | BANGALORE: Kotak Investment Advisors has launched a new fund that will partner with realty developer DivyaSree Developers to develop and acquire commercial office assets across India.The $400 million India Office Assets Fund I is anchored by a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and is one of the largest dedicated…

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economy
HeidelbergCement expects moderate sales, profit growth in 2019

BY: Christoph SteitzFRANKFURT: HeidelbergCement, the world’s second-largest cement maker, expects sales and profits to grow moderately, it said on Thursday, reflecting energy cost inflation and higher demand for construction materials in Indonesia, Europe and North America.Shares in the company, which on Wednesday hit their highest in more than five months, were 1.6 percent lower in…

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economy
Hong Kong to build artificial island to solve housing shortage

File Photo (By: Bobby Yip)HONG KONG: Hong Kong plans to build one of the world’s largest artificial islands with an eye-watering $79 billion price tag, city officials announced on Tuesday.The government’s HK$624 billion proposal to reclaim 2,471 acres of land around the territory’s largest island, Lantau, has been touted as a solution to the pressing…

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