Posted in contractions

RBI relief for Covid-19 pain

At the recently concluded monetary policy committee (MPC) meeting of the Reserve Bank of India (RBI)—which was rescheduled from October 1 to October 7—the members unanimously voted to keep the policy repo rate unchanged at 4%.

The six-member MPC, which includes three new members who were inducted earlier this month, also opted to continue with its accommodative stance as long as necessary to revive growth on a durable basis, and mitigate the impact of Covid-19 on the economy, while ensuring that inflation remains within the target going forward.

While the decision of the MPC, which met between October 7 and October 9, was on expected lines as far as the interest rates were concerned, the RBI did announce fresh liquidity and regulatory measures to alleviate the Covid-19-induced pain for the economy.

In his post-policy address, RBI governor Shaktikanta Das said that the Indian economy was entering a decisive phase in

Read More
Continue Reading RBI relief for Covid-19 pain
Posted in home

Saudi Tax Relief Unleashed for Home Buyers to Keep Boom Rolling

(Bloomberg) —

Saudi Arabia added new incentives to keep its mortgage boom going by scrapping a 15% value-added tax on property sales and offering other relief for home buyers amid a push by the Arab world’s largest economy to expand residential ownership.

Property transactions will instead be subject to a new 5% real estate sales tax, according to state-run news agency SPA. The government will also shoulder the cost of taxes for first-time home buyers of properties worth up to 1 million riyals ($267,000), according to a royal order published on Friday.

The threshold for the tax exemption was increased from 850,000 riyals previously for citizens buying their first homes.



chart, bar chart: Mortgage Boost


© Bloomberg
Mortgage Boost

Saudi Arabia’s mortgage market has emerged as a bright spot at a time the economy is reeling from the global pandemic and lower oil prices, with citizen unemployment hitting its highest level on record in the

Read More
Continue Reading Saudi Tax Relief Unleashed for Home Buyers to Keep Boom Rolling
Posted in home improvement loans

Laurel contractor denies seeking COVID-19 relief loans to pay off personal court costs | Crime & Courts

Welch also told an undercover agent posing as a representative reviewing his application that he had no pending criminal charges, according to the indictment.

Welch intended to use the loan proceeds to pay restitution and other costs related to criminal cases against him in Stillwater County District Court and elsewhere, prosecutors say.

The Stillwater County case alleges Welch took $31,800 in total from three separate households for home repairs but failed to start or complete the work. Welch pleaded not guilty in January.

In May, Welch waived extradition to Wyoming in a criminal case with similar allegations. Prosecutors in Campbell County say Welch received a down payment of $1,690 for a home improvement project, but the work was never done and the money never returned.

Welch has not yet been arraigned on charges in Musselshell County that were filed in May. In that county, Welch faces three separate cases, each

Read More
Continue Reading Laurel contractor denies seeking COVID-19 relief loans to pay off personal court costs | Crime & Courts
Posted in kitchen remodel cost

From fake COVID-19 relief to puppies, online scams can cost you.

CLOSE

Online scammers have gotten more sinister during the COVID-19 era. (Photo: Getty Images)

We know that scams are rampant, but so many Americans still fall for them. Think you’re immune? Take Google’s scam spotter quiz and see if you can pass it.

You may have noticed that the number of robocalls slowed down when the pandemic hit. As call centers reopen around the world, robocalls are increasing. Tap or click here for proven ways to stop annoying robocalls for good.

Scammers have gotten more sinister. Here are five scams that are spreading now:

CLOSE

Scammers arise during disasters and crises and it’s no different during the ongoing pandemic. Be wary of COVID-19 scams on computers and smartphones.

USA TODAY

Get $1,000 in COVID-19 relief

Many Facebook users have reported getting messages offering “COVID-19 relief grants.” The scammers pose as familiar contacts or relatives, offering the grants worth upwards of

Read More
Continue Reading From fake COVID-19 relief to puppies, online scams can cost you.