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SV Waldhof Mannheim closed the 2023/24 season with a loss of €577,000, despite a reduction from the previous year's €893,000 deficit. President Bernd Beetz highlighted the need for structural changes and urged the City of Mannheim to decide on the stadium issue, which is crucial for the club's future viability. Beetz was re-elected for a third term with strong support, as he continues to address the club's long-standing financial challenges.
DLF's subsidiary has sold a tech park in Kolkata to the Primarc and RDB group for Rs 637 crore. JLL acted as the sole transaction advisor, while Shardul Amarchand Mangaldas & Co and PwC provided legal and financial advisory services to DLF, respectively.
Saudi Arabia's sovereign wealth fund is set to reduce budgets for some local projects by up to 20% for the second consecutive year, despite an overall increase in spending. The Public Investment Fund is also reviewing budgets for upcoming projects, indicating a shift in priorities within its trillion-dollar economic overhaul plan.
CRE Matrix has launched India's first commercial property real estate price index for Grade-A office spaces, covering six major leasing markets and various micro-markets. This initiative, developed in collaboration with IIM-B, aims to assist investors and managers in real estate investment trusts (REITs) by providing valuable data on long-term rental trends. The index, which includes 36 indices, is based on lease transaction data and is expected to enhance decision-making for real estate stakeholders.
UK mortgage approvals surged to a more than two-year high in October, with banks and building societies granting 68,300 home loans, surpassing economists' expectations of 64,500. This increase comes as buyers remain undeterred by concerns over tax hikes and high interest rates.
Consumption remains strong, but market share is shifting, according to Vikas Khemani of Carnelian Asset Management. He highlights that while sectors like real estate and cable services thrive, some industries, such as tiles, are losing ground to unorganised players. Khemani also notes that capital expenditure is not slowing, despite a decline in bank credit growth to corporates.
BMW Switzerland thrives on a strong partnership with local retail and financial sectors, with over 70% of vehicles sold alongside financial products. Popular models include the X1, X3, and the electric i7, while the company transitions to an agency sales model, enhancing customer experience and transparency. With a focus on B2B sales, BMW offers flexible solutions for corporate clients, emphasizing quality and innovation in its offerings.
Gérard Wertheimer, co-owner of Chanel, remains the richest person in Switzerland with a fortune of CHF37 billion, despite a decline due to a slowdown in the luxury sector. The Hoffmann, Oeri, and Duschmalé family follows in second place with CHF28-29 billion, while Klaus-Michael Kühne ranks third with CHF27-28 billion. The Blocher family has seen their wealth grow to CHF15-16 billion, and Guillaume Pousaz rounds out the top ten with CHF14-15 billion.
The Karnataka Cabinet has approved Rs 2,135 crore for the purchase of 306 train coaches for the Bengaluru suburban railway project, which has an estimated total cost of Rs 4,300 crore. The state will cover 50% of the costs, with the Union government funding the remainder. K-RIDE plans to introduce metro-like AC coaches, with Corridor C2 expected to be operational by December 2026 and Corridor 4 by December 2027.
Matthias Ackeret's new novel, "Der Magier von Hiva Oa," draws inspiration from the life of fallen real estate developer René Benko, featuring a protagonist named Remo Blanko. Ackeret explores Benko's extraordinary rise and subsequent downfall, questioning the legal implications of his actions while expressing a desire to understand Benko's mindset during his empire's collapse. Despite sending a letter to Benko, Ackeret has yet to receive a response.
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