Representative image Realty firm Godrej Properties plans to launch a new luxury housing project in Delhi’s Ashok Vihar this year, which has a potential to generate about Rs 8,000 crore sales revenue, executive chairman Pirojsha Godrej said. Mumbai-based Godrej Properties Ltd (GPL), which is part of business conglomerate Godrej group, is waiting for some pending government approvals to launch this 27-acre luxury residential project in Delhi-NCR, its best performing market last fiscal. In February 2020, Godrej Properties had acquired nearly 27 acre land parcel in the national capital for Rs 1,359 crore to develop a luxury housing project. The land parcel belonged to Rail Land Development Authority (RLDA). The built up area is estimated at over 3 million square feet. Asked about the launch of the Ashok Vihar project, Pirojsha Godrej told analysts: ”I think we have been making steady progress on the approval. There are one or two issues that are still outstanding. So we’re … [Read more...] about Godrej Properties eyes Rs 8,000 crore sales revenue from housing project in Delhi’s Ashok Vihar
June what number month
The number of dengue cases witnesses a sharp rise in September with more than 400 new infections being reported in the last week of the month. A total of 693 cases of dengue were reported last month till September 28, according to a report released by the Municipal Corporation of Delhi (MCD) on Monday. The city recorded a total of 525 dengue cases till September 21 this year while 412 fresh cases were reported in the week that followed, taking the tally of the vector-borne disease in the city to 937 so far this year, it said. In 2015, the city had witnessed a massive dengue outbreak, with the number of cases crossing 10,600 in October. It was Delhi’s worst dengue outbreak since 1996. Of the 937 total cases recorded till September 28 this year, 75 were reported in August. It is also the highest number of dengue cases logged during the January 1-September 28 period since 2017, when the corresponding figure was 2,152. Close No death has been reported so far … [Read more...] about Over 400 fresh cases of dengue in Delhi, tally rises to 937
Robert Hale became a billionaire capitalizing on the technology Alexander Graham Bell patented in 1876. But time’s up, and now the 21st century is calling. “G ood fun, good fun!” bellows Rob Hale on a recent Friday morning. It’s 6:30 a.m., and two dozen employees of Granite Telecommunications have gathered for one of their CEO’s favorite rituals: hourlong morning workouts, a grueling grind of pushups, squats, burpees, sit-ups, planks, jumping jacks and stair runs through the company’s four-story office headquarters in Quincy, Massachusetts, a blue-collar burb 10 miles south of Boston. Hale, 56, likes routine. His typical workday includes nabbing the parking lot’s fifth spot (five is his lucky number), downing four extra-large decaf Dunkin’ coffees (two in the morning, two in the afternoon), overseeing a second group workout at noon (this one, mercifully, 20 minutes), then getting home in time for dinner with Karen, his wife of 28 years. “My life is very regimented,” Hale … [Read more...] about This Dot Com Crash Survivor Bet On 100-Year-Old Landlines. Now He’s Boston’s Second Richest Entrepreneur.
Share to Twitter Share to Linkedin After many years of stubbornly low inflation, we are now in an environment we haven't seen for 40 years. Prices are going up - fast. The Federal Reserve initially believed rising inflation would be transitory (i.e. fleeting) but has since changed their tune. Trying to get inflation to return to normal, the Fed has started raising interest rates . While the beginning of the end of easy money may help curb inflation on the margin, investors should prepare for inflation to linger. The Personal Consumption Expenditures (PCE) measures the change in the prices of goods and services consumed by all households and nonprofit institutions serving households. The Core PCE excludes food consumed in-home and energy prices. The CPI or Core CPI are the most common measures of inflation, but for several very good reasons, the Federal Reserve prefers to the Personal Consumption Expenditures (PCE) price index instead of CPI . For … [Read more...] about When Will Inflation Return To Normal? It Might Be A While.
Share to Twitter Share to Linkedin After botching the Covid-19 response, the U.S. hasn’t exactly done a great job containing the monkeypox outbreak. In fact, reviews of the U.S. monkeypox response published in The Washington Post , The Hill , The New York Times , and other places have ranged from bad to very bad. And the U.S. could end up paying for such public health missteps for years and years. That’s because the slow and disorganized monkeypox response may have allowed the monkeypox virus, which was practically non-existent in the U.S. prior to 2022, establish a new foothold in this country, as a new Centers for Disease Control and Prevention (CDC) technical report has indicated . Make that a brickhold, since the monkeypox virus doesn’t have feet. This brick or oval-shaped virus with large double-stranded DNA has already caused 26,049 and counting reported monkeypox cases in the U.S. so far this year, according to the CDC . This number was … [Read more...] about Slow U.S. Response May Mean Monkeypox Virus Here To Stay
As expected, the Energy Regulatory Commission (ERC) rejected the joint petition of San Miguel Corp. and Meralco for a rate hike to cover losses incurred by San Miguel’s power generation subsidiaries due to the sudden spike in energy prices from 2021 onward. But Biz Buzz learned that the decision of the regulator wasn’t unanimous. In fact, it was a close 3-2 vote in favor of dismissing the petition. The two dissenting ERC commissioners—Alexis Lumbatan and Marko Romeo Fuentes—noted that, under the San Miguel-Meralco petition, Meralco customers would have to pay an additional P5.2 billion over a six-month recovery period. Under scenario two, where ERC rejects the petition, and San Miguel withdraws from its power supply agreement, leaving Meralco to secure a one-year emergency supply deal, Meralco consumers will have to pay an additional P12.6 billion for electricity. A similar scenario where the power will be sourced through a competitive selection process will result in an … [Read more...] about BIZ BUZZ: Dissenting ERC commissioners
Credit Suisse Credit Suisse Group AG’s new chief has asked investors for less than 100 days to deliver a new turnaround strategy. Turbulent markets are making that feel like a long time. The cost of insuring the firm’s bonds against default climbed about 15% last week to levels not seen since 2009 as the shares touched a new record low. On Friday, Chief Executive Officer Ulrich Koerner reassured staff that the bank has a “strong capital base and liquidity position” and told employees that he will be sending them a regular update until the firm announces a new strategic plan on Oct. 27. Koerner, who was named CEO in late July, has had to deal with market speculation, banker exits and capital doubts as he seeks to set a path forward for the troubled Swiss bank. The lender is currently finalizing plans that will likely see sweeping changes to its investment bank and may include cutting thousands of jobs over a number of years, Bloomberg has reported. Koerner’s memo was … [Read more...] about Credit Suisse CEO Ulrich Koerner seeks to calm markets as default swaps climb
Share to Twitter Share to Linkedin Key takeaways The U.S. unemployment rate went up in August for the first time since April 2020. The jump wasn’t nearly as large, though; the reasons for the jump are positive economic indicators. Unemployment numbers don’t account for people who aren’t looking or can’t look for jobs, like the two to four million people not working due to long COVID or women leaving the workforce for other responsibilities since the beginning of the pandemic. The U.S. is currently not in a recession, but we’re on shaky ground. There are reasons to be optimistic, but several factors demand attention, like job listings with inadequate pay and a marked slowdown in hiring. To determine if we are in a recession, economists generally look at three factors: economic output, consumer demand and unemployment. A decreased economic output is normally defined by two consecutive quarters of decreasing GDP. The U.S. met this bar with … [Read more...] about New Jobs Data Friday- How Is Employment Tied To A Recession (Does This Officially Tip Us In)?
Share to Twitter Share to Linkedin Similar to this summer’s ratings , WWE and AEW ticket sales are headed in two very different directions this winter. AEW’s paid attendance began to take a sharp decline during the summer, down 25% in July in August compared to May and June. AEW ticket sales only continue to soften headed into the winter season, in some cases even sinking to company lows. This time two years ago, AEW was outselling WWE in WWE’s own backyard of the New York market. But recently, AEW ticket sales in the northeast—the crown jewel of wrestling markets according to AEW President Tony Khan—have been shockingly low. “The upcoming advances do not tell a good story at all,” noted Dave Meltzer of the Wrestling Observer Newsletter (h/t WrestleTalk ). “10/5 Dynamite in Washington, DC, is at 2,265 and 10/7 Rampage/Battle of the Belts in the same building is at 1,988. They noted DC as the anniversary show in the same city the … [Read more...] about AEW Ticket Sales Struggle Mightily In Q4 2022