Good morning, talks between India and Tesla Inc over potential tax benefits are deadlocked as the government is not keen to give the electric carmaker any breaks sans a commitment to manufacture locally, per Reuters.
FYI, Tesla is craving to import and sell its electric vehicles in India and has for nearly a year lobbied officials in New Delhi to reduce tariffs.
However, the deadlock between Beijing and China's real estate developers seems to be easing.
Want doesn't does get.
😷↔1 metre↔😷
A Great Investment Destination
In a recent interview to ET, Richard Heald - Executive Chair, UK India Business Council expressed that by making more investments, businesses in both countries stand to gain a lot.
A Quick Roundup. . .
Richard feels India today presents a great investment destination to any international business, thanks to its:
📎 Large economy
📎 Huge consumer market, and
📎 Abundant skills and talent.
The UK remains bullish on India because economists predict it will be the world’s 3rd largest economy and 3rd largest consumer market by 2030.
With strengths in manufacturing, digital and IT, India is an extremely exciting investment destination today, Richard reiterated.
7 Things That Can Kill A Landlord-Tenant Relationship
Tired of noisy bachelors that won’t pay your rent on time?
Or, were you about to have Heisenberg over but remembered your homeowner giving you that 'Final Warning'?
Here's the stuff that leads to legal and effortless eviction of tenants:
🚫 Please pay on time: Yes, it’s not fun to pay rent but if you keep missing the deadline despite several reminders, you can be shown the door.
🚫 Rent agreements: Both the tenant and the landlord enter into a written agreement to make it legally enforceable, and if the tenants break any rules set out in this agreement; the landlord has the right to evict them.
🚫 No subletting: If you’re inviting a friend to live with you in hopes of splitting up the rent, without informing your landlord, please stop. This serves as a valid ground for eviction.
🚫 It’s not your property: Don’t change anything in the house without the owner’s permission, and also keep it clean.
🚫 Noise-free: Don’t make life hell for your neighbours, keep the music on the low and say hello to them every once in a while.
🚫 Breaking Bad: If the owner finds out you’ve been doing something illegal in their house, it may be time for you to say sayonara, and no, Saul can't help.
🚫 My House: Finally, owners, it’s your house, if you want to live there, you can ask the tenant to leave the house, albeit with a reasonable notice period.
Things We Are Watching
🔖 Vishal Garg, CEO of Better.com, best known for firing 900 employees over a Zoom meet just before Christmas, is returning to his full time duties.
🔖 In a landmark judgement, the Supreme Court on Thursday said the daughters of a male Hindu, dying intestate, would be entitled to inherit the self-acquired and other properties obtained in the partition by the father, and get preference over other collateral members of the family.
🔖 The Maharashtra government is mulling waiving property tax on houses with an area of up to 500 sq. ft. in Thane city – in line with a similar relief for Mumbai residents.
China Cuts Key Mortgage Rate
Lately, here's the stuff troubling China:
⚠ Concerns of an overall economic slowdown as the Omicron-Delta tag team do their stuff in the mainland.
⚠ A faltering real estate sector with developers up to their penthouses in debt.
To help the real estate and construction sector face a perfectly forming storm, China's central bank cut a key mortgage rate for the first time in almost two years, per the BBC.
Some Background
Beijing surprised markets on Monday by cutting rates on medium-term loans for the first time since April 2020. And on Thursday, the People's Bank of China (PBOC) cut its five-year loan prime rate, which is the reference rate used for mortgages, from 4.65% to 4.6%.
The PBOC also slashed its benchmark lending rates for corporate and home loans for the second month in a row.
And Investors Are Elated
Almost immediately, stocks of Hong Kong-listed Chinese property developers rose sharply, making good some of the losses they have faced recently.
Sunac China closed 15.2% higher, while Shimao Group and Logan Group both saw their stock prices rise by more than 10%. Even the bullet-riddled Evergrande Group ended the trading day up by 4.6%.
Investors were also reacting to reports that Chinese regulators may ease restrictions on developers' access to pre-sale escrow funds.
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This weekend, we are planning a get together and here's the menu;
Mains: Sarson ka saag with makke ki roti, and steamed rice with sambar and avial.
Dessert: Sakkarai Pongal, Rasmalai and Murmura Laddoo.
It'll be a miracle if we arrive in your mailbox at 7 AM on Monday. 😅
Have a great weekend. 💚
☕ The Crew@Ginger Chai