Reads this Wednesday AM:
Xiaomi beats Samsung in China, and Micromax beats it in India (Bloomberg). It’s going to be about lower cost and better features. Samsung did that to Apple, and now it’s getting beaten up.
House not delivered in 3 years after loan? You get a big tax hit. (Economic Times) This concept of giving tax breaks for housing loans when you live in the house is very silly. Give that exemption to all loans, or to none at all, I say.
CBI Chief personally heard Syndicate Bank Chairman SK Jain ask for a bribe (Economic Times) The stocks of Syndicate Bank and the bribe givers, Prakash Industries and Bhushan Steel are all down 10% to 20% since the news. But good they’re finally catching such people.
10 year bonds dip after RBI policy found hawkish (Bloomberg). The new 10 year yields rose from 8.49% to 8.61%. Rough day!