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News: China Gets Really Angry, Mumbai Flat Sells 50% Lower, Defaults in Dubai and Not Much Better in India


In News to Read today:

NHB “considering” a proposal to allow home lenders to reintroduce prepayment penalties. But this is just retrograde – the excuse that they need to recover their costs is a load of bull, they charge the customer legal costs and processing fees, and are covered from day one.

How farmers from Rural China bet on the market and lost. The village that played the markets in its spare time, seems to have lost its spare money.

A Navi Mumbai flat sold for 50% less. It probably deserves to fall a lot more, as most Mumbai real estate should.

Dubai based Atlas Group founder M M Ramachandran absconds, reports are that the jewellery company is in financial trouble. Atlas shops seem to have reduced inventory, has lenders concerned. It’s a 30+ year old company.

China is getting hilarious; now punishes 197 for spreading “rumours”. You know that the measures are too desperate to work when they arrest you for just reporting the facts. And they even want brokerages to buy and boost shares. By the way, down 3% as I write this.

The Ambit Report: The Reality is that we’re in a pathetic state. More bearishness, embellished with data. I wouldn’t take this lightly.

Swiss banks want Indians holding accounts to use the declaration window to reveal their assets. Good luck with that!


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