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State Street Leases Mumbai Office Tower in $42M Deal
State Street Corporation, a Boston-based global financial services and investment management firm, has signed a long-term lease for an entire office tower near Mumbai's Bandra-Kurla Complex (BKC). The agreement with Brookfield Properties spans approximately 10 years, with a total rental commitment exceeding ?350 crore ($42 million). The leased space, covering 250,000 sq ft across a six-story tower in the 10-acre Equinox Business Park, will house State Street's Global Capability Center (GCC). This facility is part of a growing trend among global corporations leveraging India’s cost-efficient,..
MoHUA Directive Revives Kochi Transport Authority
In a bid to revive the Kochi Metropolitan Transport Authority (KMTA), the Ministry of Housing and Urban Affairs (MoHUA) has instructed the Chief Secretary to take necessary steps to overhaul the body. Established in November 2020, KMTA was the first of its kind in India, created to address the region's growing commuting challenges. However, the authority has been largely inactive, facing the risk of closure just four years after its commissioning. ### A Long-Standing Issue Despite initial promises, KMTA failed to streamline its operations, with transport minister Antony Raju previously commit..
Adani's Colombo Port Project faces scrutiny as Sri Lanka shifts stance
The Adani Group's construction of a significant deepwater container terminal in Colombo, supported by US financing, may come under scrutiny following the group's recent indictment. However, the project is reportedly being backed by advisors to Sri Lanka's ruling administration to enhance investor confidence. Before the recent elections, leaders of Sri Lanka's ruling party had indicated their intention to cancel the project. After the polls, however, the government announced that it would require additional time to reassess the initiative. Meanwhile, President Anura Kumara Dissanayake has exp..
