real estate investment loan

Running the realty check

One of the first companies to attract strategic foreign investments in India's real-estate sector, Mantri Developers is focused on residential as well as commercial realty. In an interview to Business Line, Mr Sushil Mantri, Chairman and Managing Director of the company, dwelt on several issues of interest to investors in property as well as property stocks. What is the business model that works in the residential space? How should investors evaluate IPOs of realty companies? He also discussed the benefits that Morgan Stanley's investment has brought to the table for Mantri and the competencies required to tap such Private Equity (PE) investors.

Excerpts from the interview:

Why do you think Mantri was the preferred option for Morgan Stanley's first investment in India's real-estate sector?

We started our operations in 1999 and from Day One we had set some norms, including that we will do all the projects through one company.

2003 new cars

Credit cards pick up fee if you damage rented car

When you try to use your credit card to cover collision damage to a rental car, the rental agent may lie to you about the coverage your card provides. Recently, I received e-mails from two readers reporting on the same scam at two rental companies: Agents told them that although their cards covered damage to the vehicle, they didn't cover the additional "loss of use" fee the car company would collect for the rental revenue lost while a damaged car was out of service. That statement is a flat-out lie.

When you rent a car, you're on the hook for any damage done to that car during your rental, plus loss of use, so you have to find some way to cover your risk. Rental companies, of course, are happy to sell a "collision damage waiver" (CDW) or "loss and damage waiver" -- essentially the same thing -- to absolve you of that risk.

lahore stock exchange

US STOCKS-Indexes slip on growth worry, profit-taking

NEW YORK, May 14 (Reuters) - U.S. stocks fell on Monday as renewed concerns about the economy's health overshadowed news of a $7.4 billion deal to buy a majority of Chrysler.

In addition, investors opted to take profits after six straight weeks of gains by the main indexes, traders said.

The Dow Jones industrial average (.DJI: Quote, Profile, Research was down 16.90 points, or 0.13 percent, at 13,309.32. The Standard & Poor's 500 Index (.SPX: Quote, Profile, Research was down 6.50 points, or 0.43 percent, at 1,499.35. The Nasdaq Composite Index (.IXIC: Quote, Profile, Research was down 22.69 points, or 0.89 percent, at 2,539.53.

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