Australian couple lost home via Facebook

When a notice is served from court, some loan defaulters hide in some places and don’t accept the notice. In the Facebook era, that doesn’t work anymore. A lending institution in Australia loaned the couple in Canberra more than A$100,000 ($122,000). The couple defaulted on the loan, bank couldn’t locate them in the last known residence. Bank’s lawyer obtained a default judgment in the couple’s absence and was able to convince the court to serve it via Facebook. More on this story is here.

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Fall in Bangalore office space demand by 61 percent

Indian real estate boom is getting busted. India is not detached from global economy. Global economic slowdown is now causing loosing demand for office space in Bangalore. The major portion of the office space in Bangalore is occupied by the IT companies. With the companies have been forcing to review their plans to beat the slowdown, the land absorption by the companies is also coming down. This affects the real estate market of Bangalore and many other cities in India. According to a report by Cushman & Wakefield, a property management consultant firm, the demand for office space in Bangalore…

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Inflation in India

“The most immediate concern at present is inflation,” says Rajesh Chakrabarti, a professor of finance at the Hyderabad-based Indian School of Business. “There is no denying that inflation has gone up much more than what the government would have wanted. In recent years, the government has been very specific in saying that it wants to contain inflation to less than 5%, and now it has gone to 7%. Common man in the street would feel lot more than 7%. Everything is getting more expensive in India. Food, rentals, real estate, toys, even water. Inflation estimates by Economists generally don’t reflect…

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