Real Estate

The Ministry of Labour is actively preparing for the potential implementation of the long-awaited Labour Codes, including drafting regulations and working on notifications for various provisions. The Ministry is ensuring that all necessary groundwork is completed, allowing the new government to decide on the way forward.

The Congress party has accused the Modi government of withholding significant sums of money owed to Jharkhand in coal royalties and central scheme benefits. The General Secretary of the Congress posed questions to the Prime Minister regarding the unpaid amount of 1.36 lakh crores, unfulfilled promises of providing homes to 800,000 people in Jharkhand, and the stagnant Mandal Dam project.

WeWork's founder, Adam Neumann, is making efforts to repurchase the company amidst its financial struggles, aiming to outbid potential offers and secure ownership. WeWork needs around $400 million in funding to recover from bankruptcy and avoid a forced sale, with Neumann reportedly submitting a bid exceeding $500 million.

Australia is facing a severe housing crisis, with a projected shortfall of 1.2 million new homes by 2029 unless the government takes immediate action to address affordability, supply, and equity issues. The National Housing Supply and Affordability Council urges comprehensive reforms, including increased investment in social housing and taxation changes, to ensure everyone has access to secure and affordable housing.

Australia's new regional unemployment data reveals significant disparities across the country, with rates ranging from 2.2% in Sydney's Sutherland region to 6.6% in outback Queensland. The government has acknowledged the need to address these disparities and is investing in improved data collection and targeted interventions.