Invest Without Emotions
Saudi Arabia is seriously trying to talk down the oil market. But in doing so, it is setting the stage for another oil price rally. Ali Naimi, the kingdom’s oil minister, has revealed that Saudi Arabia sharply reduced sharply its oil production last month – by a hefty 800,000 barrels a day – because of lack of demand.
via FT.com / The Commodities note – Shockwaves from Saudi’s crude statistics.
Around Rs20,000 crore of repayments were due by real estate companies by 31 March after loans were restructured by banks following the 2008-09 slump, but at least half a dozen of them have been unable to meet this deadline.“They are likely to default,” the chairman of a large public sector bank said, adding that some of these firms already have overdue interest repayments.
via Realtors fail to repay bank loans – Home – livemint.com.
“Central banks are printing more money than they ever have, so what’s the value of money in terms of purchases of goods and services,” Bass said yesterday in a telephone interview. “I look at gold as just another currency that they can’t print any more of.”
via Texas University Takes Cue From Kyle Bass to Hold $1 Billion in Gold Bars – Bloomberg.
Retailing employs more than 30m Indians, so some fear social unrest if the admission of foreign chains puts small shops out of business. But given India’s rapid growth there is plenty of space for supermarkets to expand without killing small stores. Such worries are greatly outweighed by the potential benefits to Indian consumers: lower prices and better quality, choice and nutrition. Economists in America talk about the beneficial “Walmart effect” that the ubiquitous cheap chain has had on curbing prices. Indians, as they fret over soaring food costs, might find such a thing a godsend.
via India and foreign investment: Fling wide the gates | The Economist.
