CHENNAI: The Kotturpuram branch of Indian Bank has invited tenders for auction of a property belonging to film producer and director Gautham Vasudev Menon in Adyar. As per details on Tenders India (a government tender information system), the auction process for the property located on First Main Road in Indira Nagar, has begun with the tender value being quoted at 12.26 crore. The winning bidder, expected to put up 50 lakh as a deposit. The property is 7,091 sqft, and the market price of each ground (2,400 sqft) in the area is 4.5 crore to 5 crore. “This particular account has been a non-performing asset (NPA) for some time and […]

CHENNAI: City builder Ceebros has started pulling down the unfinished JW Marriott Hotel in the city, which it had bought from Hyderabad-based Viceroy Hotels for 480 crore last year. Viceroy group sold the property in MRC Nagar after completing the shell of the hotel because the hospitality sector in Chennai is going through a serious crisis with low occupancy in most five-star hotels. With more than half a dozen new star hotels being opened in the city in recent years, there is very high room inventory and hotels are struggling for business, say industry sources. Ceebros is pulling down the unfinished J W Marriott structure to redevelop it into a […]

Mumbai: During 1Q 2014, the Mumbai office markets witnessed a further decline in office space absorption indicating cautious occupier sentiment. This lack of demand can be attributed to a low level of IT/ITeS sector participation in the overall absorption, which is currently the primary demand generating sector across the cities. This quarter only about 0.42 million sq ft of Grade A office space was leased with a few mid-sized deals concluded in Central and Western Suburbs, and Navi Mumbai. Construction activities remained slow. No projects / phases of projects were completed this quarter. Developers also refrained from launching new projects due to low demand. More than 7.5 million sq ft […]

After a lacklustre first half, home sales across the top six cities in the country are expected to rise 26 per cent in the second half of 2014 compared to a year ago, according to a research report by property advisory firm Knight Frank. A negative sentiment among home buyers due to the slow economy, high interest rates, inflation and also political uncertainty had tempered home sales in the first half of the year. While new launches in the period dropped 32 per cent, sales volume was down 27 per cent. But now, with a positive election result, a stable government at the centre and sops for the housing sector […]

Tunisia said it inspected a Turkish plane headed for Libya with medical aid that landed at an airport near the border.

Kuwait will enact a "total curfew" from 4pm (1300 GMT) Sunday through to May 30 to help to curb the spread of the new coronavirus, the Information Ministry said on Twitter Friday.

Hackers linked to Iran have targeted staff at U.S. drugmaker Gilead Sciences Inc in recent weeks, according to publicly-available web archives reviewed by Reuters and three cybersecurity researchers, as the company races to deploy a treatment for the COVID-19 virus.

In full protective gear, two doctors climb the stairs four at a time. Their first task of the day: to test a woman who has had contact with a coronavirus patient in Istanbul.

The head of Libya’s U.N.-supported government Friday warned of an escalation in the battle for Tripoli after rockets struck near foreign embassies in the capital, drawing sharp condemnation from the European Union and United Nations.

An earthquake struck early Friday near Iran's highest peak and jolted Tehran, killing at least one person and injuring more than 20 as people ran for their lives.

The north–south railway line comprised two parts: the northern section, from Uzen (Kazakhstan) to Bereket (Turkmenistan), is 596 km long; and the southern section, from Bereket to Gorgan (Iran) is 338.5 km long. The government requested ADB to finance only the design and installation of the power supply, signal systems, and telecommunication systems for 311 km of the northern section, from Bereket to Hazar. The project’s expected impact was increased trade between Turkmenistan and other countries in the region.

The project’s targeted outcome was improved access to social and economic facilities in the project areas, particularly in education and health services, and transport hubs in Timor-Leste. These were to (i) rehabilitate 232 kilometers (km) of priority roads; (ii) develop and implement a new road maintenance program; (iii) improve border post facilities; and (iv) provide consulting services and technical assistance (TA) in all aspects of project development and implementation.

In December 2006, the Asian Development Bank (ADB) approved a $900.0 million equivalent multitranche financing facility (MFF) for the Punjab Irrigated Agriculture Investment Program (PIAIP) to finance improvements to Punjab’s irrigation sector. At the same time, two loans for tranche 1 totaling $227.8 million equivalent were approved using the MFF for $217.8 million equivalent from ADB’s ordinary capital resources and $10.0 million equivalent from ADB’s Asian Development Fund (ADF).

The government requested financing from the Asian Development Bank (ADB) to support the National Highway Authority (NHA) in constructing new roads and improving existing ones along the backbone from Peshawar to Karachi, to Gwadar Port in Baluchistan, as well as connections between Pakistan and the People’s Republic of China. Following the completion of loan preparatory activities in May 2007 and loan negotiations in October 2007, the ADB Board in December 2007 approved a multitranche financing facility (MFF) for $900 million to support the NTCIP–Tranche 1.

The Bishkek–Torugart road serves several important functions. It is part of the CAREC Corridor 1(c) extending from Troitsk in the Russian Federation to Kashi in Xinjiang Uygur Autonomous Region of the PRC, and is the shortest route from Bishkek to Kashi. It is the only north–south trunk road in the central Kyrgyz Republic connecting Naryn oblast, the poorest of the Kyrgyz Republic’s seven oblasts, and the city of Naryn to the rest of the country. It is the only road providing direct access to Issyk Kul Lake region, which is one of Central Asia’s well-known tourist destinations.

In 2005, the energy sector emitted 88% of Uzbekistan’s 200 million tons of carbon dioxide equivalent greenhouse gas emissions. With the high solar irradiance and abundant land for solar development of Uzbekistan, solar energy was deemed as the most suitable resource that could quickly bridge the energy supply–demand gap, diversify the generation mix, and reduce emissions.

Bu nəşrdə Azərbaycanda şaxələndirilmiş, inklyuziv və dayanıqlı artım naminə Asiya İnkişaf Bankı (AİB) və Azərbaycan Hökuməti arasında əməkdaşlığın və birgə səylərin xülasəsi təqdim edilir.

Nepal has 2.7% of the earth’s freshwater, yet the people of Kathmandu, Nepal’s most developed region, struggle with scarce water supply.

FAST TALK speaks to Henk Ovink, Special Envoy for International Water Affairs for the Kingdom of the Netherlands, about scaling up financing for water security, enhanced resilience and sustainable growth for the region.

This report presents nine case studies on poverty reduction projects financed by ADB in Mongolia, Nepal, the People’s Republic of China, the Philippines, Sri Lanka, Uzbekistan, and Viet Nam.

ADB joined the governments of Tonga and Australia in an inauguration ceremony today to officially mark the completion of upgrading work of the Mataki’eua water supply system as part of the ADB-supported Nuku’alofa Urban...

This working paper proposes flood footprint and accountability to coordinate risk management projects through appropriate spatial planning at river basin scale.

This Annual Work Program for 2020 presents the priorities and activities for the Water Financing Partnership Facility (WFPF or the Facility), as administered by the Asian Development Bank (ADB).

ADB is proposing a project to deliver climate adaptive solutions for water resources management and modernize outdated irrigation and drainage systems within the Amu Darya and selected reaches of the Zarafshan irrigation system.

This report examines ADB’s Unlocking Innovation for Development technical assistance project and highlights lessons learned from activities and pilot projects it has funded.

This publication provides essential information on the planning, implementation, and management of improved water, sanitation, and hygiene (WASH) in schools, particularly for small and isolated rural settlements in Mongolia.

The COVID-19 outbreak is hurting developing Asia's economies. Growth will slow sharply, and the outlook is very uncertain.

Regional economic growth in developing Asia will decline sharply to 2.2% in 2020 due to the effects of the COVID-19 pandemic, before recovering in 2021, according to the Asian Development Outlook 2020.

Nimitz Adam, 39, from Boe District, is a mechanic at Nauru’s Aiwo Boat Harbor. Since construction began on Nauru's new port in October 2019, the father of 6 says the people of Nauru are beginning to realize their dream of having an efficient, reliable, and climate-resilient international port. “The new port will be like a lifeline for the people of Nauru.” Nimitz Adam, mechanic at Nauru’s Aiwo Boat Harbor

ADB tripled the size of its response to the COVID-19 pandemic to $20 billion and approved measures to streamline its operations for quicker and more flexible delivery of assistance, says ADB President Masatsugu Asakawa.

Answers are provided to questions about ADB’s $20 billion COVID-19 pandemic response.

Responding rapidly to the COVID-19 situation in Pakistan, ADB is providing much-needed medical supplies and equipment to medical facilities and health workers on the frontline.

Khadka and her family, like millions of others, were affected by the devastating earthquake that hit Nepal in 2015. ADB's Earthquake Emergency Assistance Project in Nepal financed the rebuilding of quality schools to withstand future disasters.

Build Back Better has been the foundation of ADB’s reconstruction support to Nepal after the devastating earthquake of 25 April 2015. The newly constructed schools are earthquake resilient with improved facilities and systems.

ADB's Women Entrepreneurs Finance Initiative (We-Fi) has been instrumental in empowering and creating opportunities for women-led small and medium entrepreneurs in Sri Lanka. Nelum's story is one of the testaments to this.

ADB has approved $50 million in loan and grant financing to help the Kyrgyz Republic mitigate the health and socioeconomic impact of COVID-19 pandemic.

13 lawyers from our Singapore office have volunteered and been appointed to serve as assessors under temporary COVID-19 legislation. 

Dentons’ Real Estate team advised CPI Property Group (CPI), the largest commercial property owner in the Czech Republic, Berlin and the CEE region, on the acquisition of a 50.3% share in the ownership of Chałubińskiego 8 office building in Warsaw. The divestment was made by First Property Group, an investment company and the manager of real estate funds operating in Great Britain and Central Europe.

Dentons has advised KPS Capital Partners, a global private equity firm focused on investing in manufacturing and industrial companies across a diverse array of industries, on its acquisition of the Lufkin rod lift solutions business from Baker Hughes. 

Global law firm Dentons has advised the Israeli biotech company Pluristem on a €50 million loan provided by the European Investment Bank (EIB). The financing is part of a cooperation agreement between the EIB and the Israel Innovation Authority, which aims to strengthen Israeli-EU cooperation in innovative research in the field of biotech, pharmaceutical research and public health.

Dentons has advised TSXV listed Bragg Gaming Group Inc., a next generation gaming group, on the sale of its online media division to SN&CK Media Limited. The sale follows a strategic review initiated by CEO, Dominic Mansour, and will allow Bragg to focus its efforts and resources on Oryx,  the group's rapidly growing B2B online gaming business.

Dentons Hong Kong has been recognised for its work at the IFLR Asia-Pacific Awards 2020 and Asian-mena Counsel: Deals of the Year 2019. These recognitions have highlighted the capabilities of the Firm in a wide range of practice areas.

Microchip Delivers 50 Millionth MOST® Technology 50 Mbps Automotive Intelligent Network Interface Controller

SST and SK hynix system ic Partner to Expand Availability of Embedded SuperFlash Technology

Gentex Purchases Microchip’s 25 Billionth MCU, Advancing its HomeLink Interface

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Kolkata and ADB are working systematically to update the city’s ancient urban systems after years of piecemeal approaches