[Warwithwheels]

First debt mutual fund to wind up six of its schemes due to the COVID 19 impact

The mayhem in the debt market claimed its first victim with Franklin Templeton Mutual Fund deciding to close six debt schemes citing lack of liquidity in the debt market and unprecedented redemptions in these yield-oriented schemes.

Source





Source


As investors continue to panic sell, the liquidity in the markets is fast drying up. Expect more of these in the days to come!

[volkman10]

Mercedes-Benz Launches "Car Delivery" Service, limited to only the German markets!

This service seems to be a service to deliver vehicles to the desired address only for those who ordered new models lined up at Mercedes-Benz's online store, the delivery service is completely free.

This service seems to be a special free service that is done to prevent the spread of infection by the new coronavirus, but if this is a big hit, it may be continued, and it is limited to Mercedes Benz Instead, other automakers will strengthen their online stores, mainly in the German market, and by 2025, a quarter of their car sales will be available for purchase via online channels.

Link

[AZT]

Saudi Aramco, RIL deal may not go through amid collapse in oil prices - report

The proposed deal for Saudi Aramco [TADAWUL:2222] to purchase stake in the hydrocarbon business of India's Reliance Industries (RIL) [BOM:500325] faces an increased risk of falling through amid the recent collapse in oil prices owing to the coronavirus pandemic.
The Economic Times cited a report from Bernstein, the US-headquartered brokerage, to report on the development.
Last year, it was announced that Saudi Aramco will acquire a 20% stake in the O2C division of RIL at an enterprise value of USD 75bn

[volkman10]

Hyundai's market predictions go wrong - No takers as Hyundai cars sit in U.S. ports as virus keeps buyers away.

As Detroit’s automakers shut production in March due to the coronavirus pandemic, South Korea’s Hyundai Motor cranked up its factories back home to ship cars to the United States, a move that is proving costly

Hyundai shipped 33,990 vehicles to the United States in March, or 4.3% more from a year ago

Link

[turbo]

Not sure if this has been posted here before

https://www.youtube.com/watch?v=MfgIXP4NWjw

[warrioraks]

MHA has notified new guidelines for shops selling non-essential items. Seems as a country, we have reached a point where economic cost of lockdown is outweighing the healthcare costs of not imposing a lockdown.


https://m.timesofindia.com/india/all...w/75362584.cms

[adithya.kp]

Are you guys getting calls from friends/relatives for financial help (loan) ?. How are you handling it?. As we know, its very difficult to say No. But in this environment, it will be very difficult to recover the money given. We have to give it with an assumption we wont get it back. In fact, even in a normal environment, people never return the money unless we ask.

(Note: I couldn't find a relevant thread. Hence posting here. Please remove if it is not a fit here)

[Warwithwheels]

Originally Posted by adithya.kp

How are you handling it?.

Remember reading a very practical way to handle such situations. I don’t know if I came across that in this forum or elsewhere.

The golden rule is never to lend money to family/ friends. Instead give them 50% of the money they asked and don’t get it back.

That said, in these difficult times we must help as much as possible if our resources permit. Just ensure that a basic due diligence is done before parting with the money.

[wheelguy]

India plans to fast track Chinese investments after policy change - Link

While the fast track mechanism would be open to all India's neighbours with a land border, China would be the main beneficiary.

NEW DELHI: India plans to fast track the review of some investment proposals from neigbouring countries such as China following concerns new screening rules could hit plans of companies and investors, three sources told Reuters on Saturday.

To avoid opportunistic takeovers during the coronavirus outbreak, India said this week that all foreign direct investment from countries sharing a land border would require prior government clearance, meaning they can't go through a so-called automatic route.

Advisers to Chinese firms have said they are concerned the process could take several weeks and hit deals and investment timelines. Auto firms such as SAIC's MG Motor and Great Wall, and investors Alibaba and Tencent have placed major bets on India.

The Chinese Embassy in New Delhi has called the new screening policy discriminatory.

A senior Indian government source who is involved in policymaking told Reuters that New Delhi will try to approve any investment proposal in a non-sensitive sector within 15 days when the stake being bought is not significant.

The official declined to elaborate on which sectors would be considered sensitive and what threshold of investment would be deemed significant.

"We will try to fast track investment proposals as soon as possible. It may be faster for some (sectors) and in others we might take some time," said the official, who did not want to be named due to the sensitivity of the discussions.

Two other sources familiar with the government's thinking confirmed that a fast track mechanism was being considered, with possible approval timelines of seven days to four weeks.

India's ministry of commerce and industry did not immediately respond to a request for comment.

'CHINA IS CONCERNED'

While the fast track mechanism would be open to all India's neighbours with a land border, China would be the main beneficiary. Unlike Pakistan, Bangladesh, Myanmar, Nepal and Bhutan, it has major existing and planned investments in India, which the Brookings research group estimated at $26 billion.

Dipti Lavya Swain, a partner at Indian law firm HSA Advocates which advises Chinese companies, said sectors such as telecoms, financial services and insurance were likely to be deemed more sensitive than others such as automobiles and renewable energy.

"Approvals should be a seamless process and anything between two to four weeks could still be bearable," Swain said. "Sectors which are already under severe financial distress and do not concern national security should also receive faster approvals."

The new Indian screening rules are designed to prevent fire sales of corporate assets during the coronavirus outbreak but government sources have said they will also apply to greenfield investments, as well as investments from Hong Kong.

Responding to Reuters questions this week, China's foreign ministry said it hoped for a better business environment as India had set up more barriers for some investors.

"China is concerned. In the face of the economic downturn caused by the epidemic, countries should unite to overcome difficulties," it said in a statement dated April 22.

[giri1.8]

So, as of now we the people can't pay our emi since we don't have money, banks can't afford to stop collecting money from us for longer period of time as it would end up in bankruptcy, Government can't pay the money on our behalf since they already have a HUGE debt over them!

So where is all the money? Does everything in our economy survives purely on debt? Whom do we all owe the money to?

[spookey]

Was expecting it from the north block babu's

https://theprint.in/economy/covid-19...mpression=true

[Safety is Param]

Originally Posted by giri1.8

So where is all the money?

To keep it short -

Money is always with the Customer!

Your Customer, your organization's Customer, the Bank's Customers, and so on & so forth.

[mvadg]

Originally Posted by wheelguy

India plans to fast track Chinese investments after policy change... .

Good decision, in my opinion. Whatever be China's culpability with regard to the SARS-COV2 , we need to set that aside for the sake of our economy and our citizens. China is a powerful country in the region now and India can only benefit by strategically associating with it. I wish we could go back to our very shrewd "non-alignment" policy. Let's hope we can pursue a more fruitful relationship with the USA in the post-Trump era.

[mvadg]

I don't know why no one has mentioned this

Wuhan's car sales turnaround boosting hope to coronavirus hit auto industry

The automakers see the demand revival in China as a silver ray of hope. The coronavirus outbreak could help in demand surge for private cars, as consumers are considering them as a safer option compared to public transport or ride-hailing.

Article

[GTO]

Originally Posted by adithya.kp

Are you guys getting calls from friends/relatives for financial help (loan) ?. How are you handling it?.

If it is family, I'll always help out.

If anyone else, my usual answer is "my money is all invested & I don't keep much of liquid around, sorry".