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<keyword id="12864" type="COMPANY" weightage="20" keywordseo="Chennai">Chennai</keyword>, Japan's multi-product Daicel Corporation will set up an automotive airbag inflator <keyword id="6371347" type="UNKNOWN" weightage="20" keywordseo="Plant">plant</keyword> near here at an investment of ₹230 crore. "In the first phase the investment will be ₹230 crore. The focus will be on the domestic market. Based on the demand we will look at other markets," an official told IANS on Monday. The plant owned by Daicel Safety Systems India Pvt. Ltd, will come up at CapitalLand's OneHub Chennai, an industrial township located near here. The proposed plant is expected to go on stream by December 2023. According to Daicel Safety official, the company supplies its <keyword id="19705" type="ORGANIZATION" weightage="20" keywordseo="Products">products</keyword> to tier I vendor for automotive manufacturers. The company's airbag inflators can be found in all the major Japanese and Korean car makers in India. He declined to comment on the proposed plant's production capacity. "Until now, we have been supplying products to the Indian market from our <keyword id="7320905" type="UNKNOWN" weightage="20" keywordseo="production-site">production site</keyword> in Thailand and other countries. However, due to the growth potential of the Indian automobile market, and the need to strengthen automobile manufacturer and airbag module manufacturer supply chains in India, we have decided to establish a local production site at OneHub Chennai," Takase Yoshifumi, Managing Director, India Operations, Daicel Corporation said. "We will further strengthen our presence in the Indian market through stable production and supply of products, contributing to the development of the Indian economy through both inflator production and parts' procurement in the country," Yoshifumi added. "We welcome Daicel to India and join OneHub Chennai's growing community of leading multi-national companies. OneHub Chennai offers the right eco-system and plug-and-play infrastructure for the company's manufacturing plant," Vinamra Srivastava, CEO, Business Parks, <keyword id="269702" type="COMPANY" weightage="20" keywordseo="CapitaLand">CapitaLand</keyword> India said. The 1,250 acre business city OneHub Chennai (OHC) is developed by CapitaLand in a joint venture with <keyword id="328539" type="COMPANY" weightage="20" keywordseo="IREO">IREO</keyword> and Japanese Consortium comprising Mizuho Bank and JGC Corporation. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/how-rakesh-jhunjhunwala-backed-nazara-technologies-is-preparing-for-its-big-ipo-debut/articleshow/80321946.cms">The startup behind Chhota Bheem, Motu Patlu and Shikari Shambhu is back with an IPO plan ⁠⁠— after a series of acquisitions and fundraisings</a> <a href="https://www.businessinsider.in/stock-market/news/heres-what-analysts-have-to-say-about-the-4634-crore-indian-railway-finance-corporation-irfc-ipo/articleshow/80323479.cms?upcache=2">The ₹4,600 crore IPO from IRFC is ‘attractive,’ and the best thing about the borrowing arm for Indian Railways is the assured margin</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-apply-for-indian-railway-finance-corporation-irfc-ipo/articleshow/80327303.cms">How to apply for IRFC IPO? Check the details and online application process here</a> <a href="https://www.businessinsider.in/business/startups/news/cure-fit-strengthens-its-us-offering-by-acquiring-digital-trainer-and-workout-app-onyx/articleshow/80326857.cms">Cure.fit strengthens its US offering by acquiring digital trainer and workout app Onyx</a>

Japanese firm Daicel to invest ₹230 crore to set up manufacturing plant in Chennai

PE inflows into Mumbai realty drop sharply, NCR emerges as top favourite in 9MFY23: Anarock

Last week, the Chinese government released data which showed that new home prices fell at their fastest rate in over seven years, while property sales measured by floor area fell for a 15th straight month in October. Based on data from the National Bureau of Statistics of <keyword id="1334" type="General" weightage="100" keywordseo="china" source="Orion">China</keyword>, for the year-to-date period till October, investment in real estate development fell 8.8 per cent compared with the same period in the previous year, commercial floor space sold dropped 22.3 per cent, while revenue from commercial buildings sold plummeted 26.1 per cent. In <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>, the property price index has been growing steadily in the past few years. The All India House Price Index (HPI) published by the <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> (RBI) grew at an annual rate of 3.5 per cent for the quarter which ended in June (Q1: 2022-23), expanding 1.8 per cent compared with the previous quarter. Although China is now taking measures to revive its property sector, real estate investment firms like Singapore's CapitaLand Investment (CLI) which has a third of its assets in China are looking to diversify their portfolio. Vietnam and India were cited by CLI as possible destinations for future investments. With the property sector accounting for about a quarter of China's USD17 trillion economy, concerned Chinese authorities have been introducing measures over the past months to inject confidence back into collapsing sector. Earlier in November, in the most comprehensive rescue package for the sector, since it was hit by a debt crisis last year, regulators unveiled 16 supportive measures mainly aimed at boosting liquidity for developers. Key measures include allowing banks to extend maturing loans to developers, supporting property sales by reducing the size of down payments and cutting mortgage rates, boosting other funding channels such as bond issues, and ensuring the delivery of pre-sold homes to buyers. Some analysts say that the support measures are the strongest signal yet that the two-year clampdown on the property sector is over. Chief China economist at UBS, Tao Wang, told CNN that the package of measures is a "turning point" for China's property sector. Along with other policies announced earlier this year, she estimates that it could inject more than 1 trillion yuan (USD 142 billion) into real estate. The Chinese government began trying to rein in excessive borrowing by developers to control soaring house prices in August 2020. This move unsettled the property market as the nation's second-largest developer, Evergrande, defaulted on its debt. As the property sector crashed, several major companies sought protection from their creditors. The cash crunch meant that work on many pre-sold housing projects across the country was delayed or suspended. The Chinese property sector was hit hard as developers lurched from crisis to crisis and halted the construction of apartments as they ran out of money. Property prices and transactions decline. Besides the mounting debt among developers, China's strict COVID policies amid rising coronavirus cases impacted manufacturing and consumer spending. The crisis took a turn for the worse in the middle of this year when angry home buyers refused to pay mortgages on unfinished homes, sparking fears of contagion, and causing financial markets to be spooked. Since then, authorities have tried to defuse the crisis by urging banks to increase loan support for developers so that they can complete projects. Regulators have also cut interest rates in a bid to restore buyer confidence. Based on data from the National Bureau of Statistics of China, average new home prices in China's 70 major cities dropped by 1.6 per cent year-on-year in October 2022, after a 1.5 per cent decline a month earlier. It was the sixth straight month of decrease in new home prices, the steepest pace in the sequence, and the fastest fall since August 2015. Sales by the 100 biggest real estate developers shrank 26.5 per cent from a year ago in October, according to a private survey by China Index Academy, a real estate research firm. So far this year, their sales have tumbled by 43 per cent. While welcoming the government's property support measures, analysts remained cautious about the impact it would have on buyer confidence. "The property market has yet to show signs of recovery," said Nomura analysts in a research report last week, adding that the latest measures may have "little direct impact" on stimulating home purchases, adding that the zero-COVID strategy will weigh on the sector. Although it is felt that measures are supportive of the property market, bankers and analysts say they only address the property market's supply problems, with the demand recovery still a key concern. Many people are still reluctant to upgrade their homes or buy new ones due to economic uncertainty and falling employment. Despite the current doom and gloom, one company that is confident in the long-term future of the Chinese property market is Singapore's CapitaLand Investment (CLI). It has about a third of its overall property portfolio, which are mostly non-residential commercial real estate, in China at the moment. In an interview with Nikkei Asia, CLI said it plans to diversify its portfolio and is looking out for investment opportunities in Vietnam and India. The aim is to build resilience in areas like supply chain and energy amid shocks to globalisation seen during the COVID-19 pandemic. CLI whose largest shareholder is Singapore state-owned investor Temasek Holdings is one of Asia's largest real estate investment managers with USD 90 billion worth of property assets and USD 63 billion in funds under management "We would love to do more in Vietnam, we are already very active in India," said Chief Financial Officer Andrew Lim to Nikkei. "What recent events have told us is that it's probably dangerous to put all your eggs in one basket... in an era when globalisation is increasingly being put to the test. Lim thinks that Vietnam in the post-COVID era will emerge as an important destination for capital, especially regarding manufacturing. Whereas India has tremendous solar resources. "These are markets if you are looking for energy redundancy, energy resilience, renewable energy sources, suddenly it becomes important from that perspective." (ANI) SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/indian-markets-open-in-the-red-tracking-covid-19-concerns-in-asian-markets-tata-steel-tata-motors-zomato-and-others-in-focus/articleshow/95649915.cms">Indian markets open in the red tracking Covid-19 concerns in China – Tata Steel, Tata Motors, Zomato and others in focus</a> <a href="https://www.businessinsider.in/sustainability/news/the-world-waited-far-too-long-for-this-says-india-after-cop27-ends-with-historic-compensation-fund/articleshow/95649834.cms">The world waited far too long for this, says India after COP27 ends with historic compensation fund</a> <a href="https://www.businessinsider.in/stock-market/news/markets-reward-psbs-push-up-their-market-caps/articleshow/95639716.cms">Markets reward PSBs, push up their market caps</a>

As the property market continues to slump in China, are property investors turning to India?

<div class="KonaFilter image-container display-table"><div><div class="image on-image">CapitaLand VietnamVietnam's luxury real estate market is booming thanks to a strong economy and legislation that made it easier for foreign buyers to purchase property.</div></div></div><ul class="summary-list"><li><a href="https://www.bloomberg.com/news/articles/2019-02-18/manhattan-luxury-comes-to-one-of-asia-s-hottest-property-markets" target="_blank" rel="noopener">Vietnam is the next luxury real-estate hotspot</a>, Bloomberg reported.</li><li>An explosion of new luxe developments, fueled by a strong economy and legislation that made it easier for foreigners to buy property, is attracting wealthy international buyers.</li><li>These swanky condos, popping up in Ho Chi Minh City on "Saigon's Wall Street," cost a fraction of what they would in markets like New York City or Hong Kong.</li></ul>Forget <a href="https://www.businessinsider.com/category/new-york-city" target="_blank" rel="noopener">New York City</a> or <a href="https://www.businessinsider.com/category/hong-kong" target="_blank" rel="noopener">Hong Kong</a>. The newest hotspot for luxury real estate is <a href="https://www.businessinsider.com/category/vietnam" target="_blank" rel="noopener">Vietnam</a>. The Southeast Asian country has been seeing <a href="https://www.bloomberg.com/news/articles/2019-02-18/manhattan-luxury-comes-to-one-of-asia-s-hottest-property-markets" target="_blank" rel="noopener">a surge in luxury real estate development</a>, Bloomberg reported, thanks to a booming economy and laws making it easier for foreign buyers to buy property in Vietnam.Vietnam is "where southern China was 10 or 15 years ago," Goodwin Gaw, chairman of Hong Kong-based private-equity firm Gaw Capital Partners, told Bloomberg. Prices have been going up over the past year and a half, but investing in real estate in the country is still a good bet in the long-term, Gaw said. Prices for luxury condos in Ho Chi Minh City increased by 17% in 2018, according to Bloomberg.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Getty ImagesPrices for luxury condos in Ho Chi Minh City increased by 17% in 2018.</div></div></div><a href="https://www.aljazeera.com/news/2019/02/vietnam-economy-races-wheels-190226072516577.html" target="_blank" rel="noopener">Vietnam's economy is seeing strong growth,</a> according to Al Jazeera. And in 2015, a legislation change <a href="https://www.mansionglobal.com/articles/vietnam-the-next-frontier-in-asia-s-luxury-real-estate-market-102826" target="_blank" rel="noopener">made it easier for international buyers </a>to obtain long-term leases and buy property in Vietnam, Mansion Global reported. <h2>Ultra-luxury living at a low price point</h2>A luxury apartment in the city center of Ho Chi Minh City can cost upwards of $5,000 per square meter, or $465 per square foot, Sunny Hoang, associate director of International Residential Sales at Savills in Ho Chi Minh City, told Mansion Global. Compared to other cities, that's an absolute bargain.In Hong Kong, a similar home can easily cost four times more than that, Hoang said.<a href="https://www.mansionglobal.com/articles/berlin-shenzhen-hong-kong-among-cities-with-strongest-markets-in-2018-123782" target="_blank" rel="noopener">Average prime home values in Hong Kong</a> are now at $4,660 per square foot, according to a separate Mansion Global report, while <a href="https://www.cnbc.com/2018/08/11/manhattan-real-estate-is-the-most-expensive-in-the-us-per-square-foo.html" target="_blank" rel="noopener">Manhattan real estate costs an average of $1,773 per square foot</a>.<div class="KonaFilter image-container display-table"><div><div class="image on-image">CapitaLand VietnamAn artist's rendering of a swimming pool at Feliz en Vista.</div></div></div>At Feliz en Vista, a four-tower luxury condominium development in Ho Chi Minh City's District 2 developed by Singapore-based CapitaLand, buyers can choose from a mix of garden villas, duplex penthouses, and "sky mansions." The property offers ultra-luxe amenities including a swimming pool with hot spring Jacuzzi and water slide, an outdoor movie theater, a treetop adventure walking bridge, a fitness center, sky garden, library, playground, tennis court, and parking.The condos launched at prices between $232 and $290 per square foot. On the high end, this would come out to $1.56 million for one of the building's 500-square-foot penthouses.More than 99% of the units at Feliz en Vista were sold by the end of 2018, a representative for the developer told Business Insider.<div class="KonaFilter image-container display-table"><div><div class="image on-image">CapitaLand VietnamAn artist's rendering of Feliz en Vista in Ho Chi Minh City.</div></div></div>And at the The Grand Manhattan, a 39-story development that will include apartments, a hotel, and restaurants in Ho Chi Minh City's District 1, known as "Saigon's Wall Street," the New York City-inspired condos<a href="https://www.bloomberg.com/news/articles/2019-02-18/manhattan-luxury-comes-to-one-of-asia-s-hottest-property-markets" target="_blank" rel="noopener"> start at about $557 per square foot.</a>Compare that to NYC, where even <a href="https://www.businessinsider.com/tiny-nyc-apartment-studio-photos-2018-9" target="_blank" rel="noopener">a tiny penthouse can cost </a><a href="https://www.businessinsider.com/tiny-nyc-apartment-studio-photos-2018-9" target="_blank" rel="noopener">$2,143 per square foot</a> and it's common to see asking prices of <a href="https://www.businessinsider.com/luxury-condos-new-york-city-40-bleecker-street-tour-photos-2019-2" target="_blank" rel="noopener">$10 million and up</a>. And in Hong Kong, which has one of the most expensive housing markets in the world, a modest house that many would classify as a knockdown <a href="https://www.businessinsider.com/most-expensive-home-hong-kong-mansion-photos-2018-9" target="_blank" rel="noopener">is selling for a staggering $446 million</a>.<h2>Not only foreign buyers</h2>International buyers may be jumping to invest in Vietnam real estate, but wealthy locals are giving them competition. "We have more and more very rich Vietnamese, particularly entrepreneurs looking for places to put their money," Neil MacGregor, a managing director at Savills Vietnam, told Bloomberg.Vietnam now has 142 people who are <a href="http://knightfrank.digitalmagazines.online/the-wealth-report-2019/p/1" target="_blank" rel="noopener">worth more than $30 million</a>, according to a 2019 report from global real estate consultant Knight Frank. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/elon-musk-tesla-roadster-space-spacex-orbit-2019-2">Elon Musk sent a $100K Tesla Roadster to space a year ago. It has now traveled farther than any other car in history.</a></h3> <div> </div> </div>

The luxury real-estate market in Vietnam is heating up - and it's luring foreign buyers in with 'sky mansions' at a fraction of what their cost would be in NYC or Hong Kong

<div id="ooyalaplayer" style="width: 800px; height: 450px;"></div><div style="display:none;" id="kalturavideoplaceholder">kalturavideoplaceholder</div><div><div><div class="g-ytsubscribe" data-channel="BusinessInsider" data-layout="full" data-count="default"></div></div></div>59 year-old media mogul Strauss Zelnick treats his fitness regimen with the same level of priority as he would a business meeting or time with his family. He shares his intense dedication to working out with members of&#xa0;<a href="http://theprogram.nyc/" target="_blank">#TheProgram</a>, which is a group fitness club that Zelnick founded in 2015. Zelnick founded the private equity firm&#xa0;<a href="http://zmclp.com/" target="_blank">Zelnick Media Capital</a>&#xa0;and also serves as CEO of ZMC's largest asset: video game developer&#xa0;<a href="http://www.take2games.com/" target="_blank">Take-Two Interactive</a>, which is responsible for such blockbuster hits as the "Grand Theft Auto" series, "Max Payne," and "WWE 2K." #TheProgram meets four times a week for a variety of intense, early morning workouts. Zelnick invited Business Insider for a look into just a small part of the weekly fitness regimen that keeps the media mogul in top physical condition. Follow BI Video: <a href="https://twitter.com/BI_Video" target="_blank">On Twitter</a>&#xa0;

A high-powered CEO created an invitation-only fitness club for motivated professionals

<ul class="summary-list"><li>Washington, <keyword id="56051" type="ORGANIZATION" weightage="60" keywordseo="DC">DC</keyword>, has been demanding statehood since 1801. Rep. Eleanor Holmes Norton, DC's only non-voting member of the House, told Insider she believes it is now "in sight."</li><li>After violent protesters forced their way into the Capitol this week, DC Mayor Muriel Bowser criticized the federal government for delays in deploying the National Guard and demanded that President-elect Joe Biden take up statehood during his first 100 days.</li><li>After winning two Senate races in Georgia, <keyword id="6534156" type="UNKNOWN" weightage="60" keywordseo="Democrats">Democrats</keyword> will now control both houses of Congress. <keyword id="66537" type="ORGANIZATION" weightage="60" keywordseo="Republicans">Republicans</keyword>, and even some Democrats, have long opposed DC statehood. </li><li>Making Washington, DC, a state could also mean adding two additional Senate seats in a heavily Democratic area. </li></ul>The night before President <keyword id="6354862" type="UNKNOWN" weightage="60" keywordseo="trump">Trump</keyword>'s "Save America" rally on the Washington Mall, DC Mayor Muriel Bowser wanted to deploy National Guard forces to shore up security in preparation for protests. Normally, a request like that from a major US city would go to the governor of the state. But Washington, DC, is not a state. In fact, its National Guard is the only force in 50 states and four territories that reports directly to the president.So instead, Bowser's request went to the Pentagon, which approved the request, but <a href="https://www.washingtonpost.com/national-security/trump-protests-washington-guard-military/2021/01/07/c5299b56-510e-11eb-b2e8-3339e73d9da2_story.html">with a caveat</a>: Guardsmen would not carry ammunition and riot gear, or interact with the pro-Trump extremists. As the mob descended on the Capitol, terrified lawmakers and staff crouched under tables. Steny Hoyer, the House majority leader, frantically dialed Maryland Gov. Larry Hogan, but the governor's hands were also tied. When Capitol Police, which is overseen by Congress, phoned the Pentagon for backup, that request was reportedly denied. In the meantime, the unit was savaged with public criticism as a shocked nation watched the Capitol Police were easily overwhelmed and failed to make mass arrests as the mob surged forward. In all, it took about <a href="https://www.washingtonpost.com/national-security/trump-protests-washington-guard-military/2021/01/07/c5299b56-510e-11eb-b2e8-3339e73d9da2_story.html">three hours</a> for guardsmen to arrive and help secure the building. Speaking at a press conference on Thursday about the events, Bowser, who was born and raised in the district, did not mince words: DC needs to become a state. Now. <div type="image" title="Mayor Muriel Bowser" height="2807" width="4210" msid="80182563" hostid="261"></div>"First, we must get statehood on the President's desk within the first 100 days of the 117th Congress," Bowser said. And Congress should transfer command and control of the DC National Guard to the district. If she gets her way, it would not necessarily translate to a more aggressive role for the Guard. In June 2020, when Trump activated guardsmen and other forces to patrol the streets during Black Lives Matter protests near the White House, Bowser reacted swiftly, calling on Trump to remove the patrolling forces and notifying him that the city would not pay the hotel bill for guardsmen deployed to the district against its wishes. DC has been calling for statehood <a href="https://statehood.dc.gov/page/about-dc-statehood">since 1801</a>. But the city's strong Democratic identity-since residents gained the right to vote for president in 1964, the popular vote has gone to the Democratic candidate every time has made that politically difficult. Sen. Mitch McConnell has criticized the effort to make "the swamp itself, Washington, DC, America's 51st state." Sen. Lindsey Graham has called DC statehood a "brazen power grab" for Democrats. With the addition of Georgia's Rev. Raphael Warnock and Jon Ossoff, both Democrats, to Congress, the US Senate will now be split 50/50, with 50 Republicans, 48 Democrats, two independents who caucus with the Democrats and-as of Jan. 20-Vice President Kamala Harris able to cast the deciding vote. DC statehood would add two additional US Senators, and with it a huge Democratic advantage. For Rep. Eleanor Holmes Norton, DC's only non-voting member of the House, statehood is now "in sight.""We have upped the ante, I think, with what happened here in the Capitol," she told Insider on Friday. "The notion that the house in our own city-the city that happens to be the capital-and that city has no representation, no complete representation, at a time of crisis, points up the need for the District of Columbia to become a state and have the same tools that every other state has," Norton said.<div type="image" title="EHN at Trump speech .JPG" height="2268" width="3024" msid="80182565" hostid="261"></div>"Taxation without representation" adorns every DC license plate, but the issue has largely been seen as a local one-until recent years. The history of DC's disenfranchisement is older than the nation's capital itself. When the city was chosen as the seat of the US government in 1788, the politician Thomas Tredwell raised the issue of its lack of representation, but the concern largely fell on deaf ears. For centuries, Washingtonians have not had a say at the national level-whether the US can go to war or allocate Covid-19 relief funding or take action on climate change.Advocates of statehood argue that it's unfair to reduce the issue to its impact on national <keyword id="6358883" type="UNKNOWN" weightage="100" keywordseo="politics">politics</keyword> and that Washingtonians just want to have a role in their country's future.In addition to Holmes Norton, DC has two "shadow Senators," though none of them have voting power. Even local laws can be limited by Congress. On issues ranging from abortion to medical marijuana to efforts to stop the spread of HIV, federal lawmakers have exercised that power to approve or halt the city's democratically approved bills. And when states received $1.25 billion each for Covid-19 relief, DC received only $500 million, despite being one of the hardest-hit spots in the country. All this, despite the fact that DC's population of 705,000 people is larger than two states and on par with about a dozen others, and residents pay more in federal taxes per capita than anywhere else in the country. Most Americans, Holmes Norton said, are unaware that Washingtonians largely have no say in the nation's laws. Now, the effort is gaining momentum on a national stage.In June 2020, for the first time, the US House of Representatives passed a bill to grant DC statehood. The bill didn't make it through the Senate, where majority leader Mitch McConnell dismissed it as "<a href="https://twitter.com/senatemajldr/status/1139617930579251200">full-bore socialism.</a>" In response, Republican lawmakers introduced three different bills that would make DC part of Maryland-despite it being unpopular in both places-or cap the number of Senators at 100, preventing any new states from having representation in the Senate. (Those bills went nowhere.)Rep. Holmes Norton said she would reintroduce the Washington, DC, Admission Act into the new session of the House. Already, she told Insider, it has received more co-sponsors than it did last year, even before Congress reopened this week. Speaker of the House Nancy Pelosi has vowed support, saying in a statement: "The sacred right to vote and to have a voice in our government is a core pillar of our freedom.""We really are sick and tired of Congress interfering," Elinor Hart, an organizer at the DC Statehood Coalition, told Insider. "We really need to get control over our own laws and our own budget."The hurdle, still, is the Senate. And it's not just Republicans. Last year, three Democrats-Doug Jones, Joe Manchin and Kyrsten Sinema-and Independent Sen. Angus King, who caucuses with Democrats, did not sponsor the legislation. (Jones lost his reelection bid to a Republican challenger.)<div type="image" title="DSCF4840.JPG" height="1333" width="2000" msid="80182566" hostid="261"></div>As for Manchin, in November 2020, he said he didn't "see the need" for DC statehood. "I'd have to hear more [about] that, but right now I'm not convinced that's the way to go," he said. But in an email to Insider on Thursday, Manchin didn't repeat that stance. Instead, he said he was "focused on healing our country," and he would "review all other proposals to heal our nation when the time comes." In the meantime, DC's nonvoting congresspeople are working to see if they can secure Republican support for the bill, or find a way to modify Senate rules so that statehood could be included in budget reconciliation-which would save them from requiring the 60 votes needed to overcome a filibuster. "Now that we have control of both houses, we're having to reconfigure how you would go about doing that," Holmes Norton said. "And we'll have word on that at some time later in the session." Typically, statehood has been a polarizing issue that falls along partisan lines. In the past, Holmes Norton said, two states are often added at once-a Democratic state and Republican state-to maintain Congressional balance. But in this case, that may not be possible. Puerto Rico, a US territory with Republican leadership, has been floated as an option. But, Holmes Norton says, "Puerto Rico is bankrupt. So it isn't a viable partner.""We're going to have to do this a new way," Holmes Norton said. "And we are in the process of trying to figure that out."

Violence at the Capitol has 'upped the ante' and helped put DC statehood 'in sight,' the District's House member tells Insider

<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>Spotify is reportedly raising $1 billion in debt as streaming competition heats up, according to CNBC, who cites Dow Jones. The capital reportedly comes from TPG Capital,&#xa0;Dragoneer, and Goldman Sachs.Previous reports from Bloomberg and Sky News had indicated that Spotify was seeking to raise $500 million or more in debt from <a href="https://uk.finance.yahoo.com/news/tpg-eyes-500m-deal-tune-192502493.html">TPG Capital</a>&#xa0;and others, with&#xa0;<a href="https://uk.finance.yahoo.com/news/tpg-eyes-500m-deal-tune-192502493.html">Goldman Sachs</a>&#xa0;advising.This loan could be converted to&#xa0;stock if&#xa0;Spotify&#xa0;goes public, <a href="http://www.bloomberg.com/news/articles/2016-01-27/spotify-said-seeking-more-than-500-million-in-convertible-debt">according to Bloomberg</a>.Spotify has 30 million paying subscribers, <a href="http://www.techinsider.io/spotify-hits-30-million-paid-listeners-2016-3">CEO Daniel Ek said earlier this month</a>.Competition in the streaming space has intensified over the past year, with the launch of Apple Music (<a href="http://www.businessinsider.com/eddy-cue-apple-music-has-11-million-paid-subscribers-2016-2">over 11 million subscribers in February</a>), the rebrand&#xa0;of Tidal (<a href="http://www.businessinsider.com/kanyes-tidal-streaming-numbers-2016-3">3 million subscribers in March</a>), and <a href="http://www.businessinsider.com/soundcloud-just-dropped-details-about-its-competitor-to-spotify-and-apple-music-which-will-cost-1299-2016-3">Tuesday's entry of SoundCloud into the premium streaming market</a>. Pandora has also spoken of plans to enter the streaming market as quickly as possible.<div></div>&#xa0;Developing... <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/ohea-bed-that-automatically-makes-itself-2016-3">This bed automatically makes itself three seconds after you get up</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="N0dnc4MjE6HwYtvKJd60VFf_YwJGQQ9H" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Spotify is reportedly raising $1 billion in debt as streaming competition heats up

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>Kim Kardashian West's social-media visibility and flaunting of jewelry online made the reality TV star a target for her <a href="http://www.businessinsider.com/how-robbers-stole-from-kim-kardashian-2016-10">recent robbery at a Paris private apartment</a>, police tell <a href="http://www.cnn.com/2016/10/04/entertainment/kim-kardashian-police-social-media/index.html?sr=twCNN100416kim-kardashian-police-social-media0349PMVODtopLink&amp;linkId=29519345">CNN</a>.&#xa0;Kardashian West - who has 48 million <a href="https://twitter.com/KimKardashian">Twitter followers</a> and another 84 million on <a href="https://www.instagram.com/kimkardashian/?hl=en">Instagram</a> -&#xa0;posted a picture of a huge diamond ring on Instagram and Twitter&#xa0;four days ago, and her online documentation of her whereabouts leading up to the robbery made her an easy target,&#xa0;according to the outlet.Johanna Primevert, the chief spokeswoman for the Paris police department, explained to&#xa0;CNN how&#xa0;Kardashian West's social-media presence prompted the attack."It was really the celebrity who was targeted, with possessions that had been seen and noticed via social media," Primevert said. "And it was these goods that the attackers targeted."<div></div>Five armed men dressed as police officers seized a private mansion and stole up to&#xa0;$11 million in jewelry from&#xa0;Kardashian West on Monday morning. They also tied her up during the incident.Primevert told&#xa0;the <a href="http://bigstory.ap.org/article/bf1f64e0274d46169aa471ccc4e409f9/latest-kim-kardashian-west-leaves-paris-after-robbery">Associated Press</a> that such a robbery is "extremely rare" in the French capital&#xa0;and was mainly the result of Kardashian West's celebrity."This kind of incident is extremely rare in Paris. This is a star who is famous worldwide," Primevert said. "I think this could have happened abroad just as easily as in Paris."&#xa0;The Paris police department's&#xa0;investigation into the robbery and process of estimating the&#xa0;exact worth of the stolen jewelry are reportedly ongoing. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/harry-potter-spinoff-fantastic-beasts-final-trailer-2016-9">The final trailer for the Harry Potter spinoff 'Fantastic Beasts' is here</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="FwZGw1NjE6AQb8viARKuI5tu4zpMihIN" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Police say Kim Kardashian made herself a target for robbery on social media

<div class="KonaFilter image-container display-table float_right"><div><div class="image"><a href="http://www.bloomberg.com/tv/">Bloomberg TV</a>Howard Marks</div></div></div>Billionaire asset manager Howard Marks, the chairman and co-founder of Oaktree Capital, was on <a href="http://www.bloomberg.com/video/marks-public-money-supporting-risky-investments-T_ltatfqQzqoQsSHRMsxsA.html">Bloomberg TV today</a> talking about what it means to "be great" when it comes to investing. 
Marks, who is famous on the Street for his widely-read investor letters, recently put out his <a href="http://www.oaktreecapital.com/MemoTree/Dare%20to%20Be%20Great%20II.pdf">"Dare to Be Great II"</a> memo. His first "Dare to Be Great" memo came out in 2006.
"The big question is how much of your time, effort, and capital-and self-esteem will you risk in the effort of trying to be right? And how much will you spend trying to avoid being wrong? They are two different things. And in order to be - have a shot at being really right, you got to have a shot at being really wrong," he said. 
Essentially, in order to be great, you have to be different and willing to fail.
Marks' observation can be applied broadly. But his letter was really tailored for investors.
"Most great investments begin in discomfort," he wrote. "The things most people feel good about - investments where the underlying premise is widely accepted, the recent performance has been positive and the outlook is rosy - are unlikely to be available at bargain prices. Rather, bargains are usually found among things that are controversial, that people are pessimistic about, and that have been performing badly of late."
Here's a transcript from Bloomberg TV: 
STEPHANIE RUHLE: Now I'm excited for this next segment. How can investors achieve superior results? We are asking one of Wall Street's greatest minds, Howard Marks. He's the founder and chairman of Oaktree Capital. He is well-known for his memos to clients and his latest -- "Daring Investors to Be Great". Actually, "Daring Investors to Be Great 2". It's the second edition. His first was just a few years ago. We're going to find out what he means.
Howard, welcome. It's not just Erik and I who are fans of these letters. Warren Buffet himself has said how much he loves them. So here you are, out with your latest, "Dare to be Great 2". What does that mean? 
HOWARD MARKS: Well, it's directed primarily, Stephanie, at professional investors who have to be concerned with how they'll be perceived. And I wrote "Dare to Be Great 1" in '06 and I've been thinking about it and everybody dares to be great. I mean, who wouldn't dare to have great performance? The real question I ask in the memo is do you dare to do the things you have to do to be great? 
RUHLE: What are those things? 
MARKS: Do you dare to be different? Do you dare to be wrong? And do you dare to look wrong? Because you have to dare to be all three of those in order to have a shot at great results. 
ERIK SCHATZKER: Howard, you say everyones dares to be great -- maybe everybody dreams. 
RUHLE: Ah.
SCHATZKER: Of being great.
MARKS: Well said. 
SCHATZKER: It's pretty certain that not everybody dares to be great because so many money managers just bat average, right?
MARKS: I guess what I mean is they're willing to be great. 
SCHATZKER: Or they would love to be great. 
MARKS: Yes.
SCHATZKER: So let's go into more detail about what it takes to be great. What do most money managers do, most institutional investors, what do they do? And then what do the ones who stand out from the rest of the crowd do? 
MARKS: Well, I think that -- the big question is how much of your time, effort, and capital will you -- and self-esteem will you risk in the effort of trying to be right? And how much will you spend trying to avoid being wrong? They are two different things. And in order to be -- have a shot at being really right, you got to have a shot at being really wrong. 
RUHLE: So right now, for example, where would one say we're seeing people trying hard to get it right, daring to be different? 
MARKS: I think that the people who are buying the social media stocks at the very high prices are trying to be great. They're trying to -- they have seen it go from $10 to $40, and now they want to go from $40 to $200. Clearly -- I mean I can't imagine they think it's a low risk strategy, but I think most people drive, look in the rearview mirror, they see what's happened, they're dreaming of an extrapolation. 
RUHLE: Well, aren't they afraid to not be on the train? Last year when so many people saw the fundamental problems with the economy, they were fools if they weren't long on the market, so they piled in just so they wouldn't underperform the S&amp;P. 
MARKS: Well, there is -- I mean, the fear of being out of step is a great fear, and I believe that perhaps the most corrosive of all human emotions is having to sit there and watch other people make money when you're not. And then of course if you're a professional and other people make money and you're not, then you could lose your accounts, lose your job, whatever it might take. 
SCHATZKER: OK, there's no question you are right. You feel that way, lots of people feel that way. Why is it then that the majority, the vast majority, of investors aren't willing to take those risks? 
MARKS: Well, because if you take the risks to try to be right, you know you're going to be right 100 percent -- 
SCHATZKER: You could be wrong. 
MARKS: You could be wrong. And if you are wrong a few times in a row, then you look at it, maybe you lose your job, maybe you lose your client. 
SCHATZKER: Well, that's what I was going to say. Is it because they're chicken? They're about worried about losing their jobs, which, let's be honest, is a legitimate fear for many people? Or is it because in some cases -- or it is a combination of the two? -- their clients won't let them. 
MARKS: Well -- 
SCHATZKER: I mean, all clients in theory, all -- whoever they are, pension funds, endowments, the folks who sign up institutional investors to manage their money, want great returns. But they too are concerned --
(CROSSTALK) 
MARKS: They don't really want great returns, they want good enough returns. Most of our clients in the professional world constrain us. They say you can only have so much per company, so much per industry, so much per country, and we spend a lot of time negotiating these constraints. They don't say, oh, if you think that China's great, put all the money in there. They say, oh, you like China? You're allowed to put in up to 6 percent, you know? Because if you put in all the money, you could be wrong. 
I say in the memo, and I think the one thing that I've carried around that occasioned a return to the topic, was my conviction based on my experience -- that the main role among investing institutions, pension funds, endowments, sovereign wealth funds, et cetera, insurance companies -- we would never do so much of something that, if it turned out to be a mistake, we would look bad. 
Now, that makes perfect sense. Nobody wants to look bad. However -- 
RUHLE: How do you hit a home run? 
MARKS: Well, that's the point. If you -- you have to accept that the converse is we would never do enough so that if it turns out to be a good thing, we'll move the needle. The two have to go together. You can't do enough to make a difference on the upside but not enough to get you into trouble on the downside. And almost everything in investing is symmetrical. And it's the symmetry that people are leery of. It's not -- they're not, as you point out, Erik, they're not afraid to make money, they're not afraid to be great. They're afraid to have a big mistake on their hands. 
RUHLE: You say most great investments start with discomfort. 
MARKS: Yes, that's right. 
RUHLE: Is there an investment right now that feels uncomfortable? 
MARKS: There's nothing that is sufficiently out-of-favor today, and sufficiently neglected, to be a great buy. I continue to believe that public money is flooding in to the risky sectors, supporting the prices, and the -- and supporting the prices from my standpoint, I'm not -- that is not a good thing, that is a bad thing, which means making them expensive. 
Where's the public money not going. Where can it go? Private investments. Only the pros really can make private investments. 
RUHLE: They're the only ones with access. 
MARKS: That's right. Well, and there are no mutual funds or ETFs for private debt, for example, or very few. And so I think that private investments are more shunned or less popular, and thus cheaper than public investments. 
SCHATZKER: If the success of your approach to investing relies on finding these uncomfortable areas of credit markets, is it a good thing or a bad thing for things like ETFs that invest in private credit to emerge? Do you want to see more money chasing these -- so that more people have an opportunity to find these uncomfortable options? 
MARKS: No, I'm not in favor of democracy in this regard. I'd like to have these markets myself. 
(LAUGHTER)
MARKS: It's unlikely. If you go back 36 years ago, when I started Citibank's higher bond fund, most people wouldn't do them, they called them junk funds. 
RUHLE: For a reason.
MARKS: 90 percent of -- no, for a bad reason, Stephanie. But 90 percent of investing organizations had a rule These things were considered imprudent and improper and Moody's said fails to possess the characteristics of a desirable investment. Most people would --
SCHATZKER: Prudent is a bad word in investing, isn't it?
MARKS: It is. It's a limiting word, because it's a value adjustment. And 36 years ago, people would say, oh, I would never invest enough. Maybe you could make a lot of money, but it wouldn't be right. Today, within the bounds of reason and legality, I hope, everybody will do anything to make a buck. So there are very few of these orphaned markets today. That makes it harder for us to find spectacular bargains. 
RUHLE: Anything to make a buck. I don'T want to get into any of the details of it, but for you who is so thoughtful in every word that you write, when Michael Lewis had the headline "The market is rigged," what was your response? How did you feel?
MARKS: I thought that was hyperbole. I thought it was an exaggeration. What he's talking about is hundredths of a cent per share. And so it's not right, it's not fair, but it doesn't mean you can't make money in the market. It doesn't mean that you think you're going to make 20 percent but you're really only going to make 6. It means you think you're going to make 20? Well, you're only going to make 19.96 percent. 
And -- number one. And number two, I think it really only applies to big institutional orders. Those are the ones that send the fast traders systems signals that more buying is coming, and those are the ones you can take advantage of. But the mom and pop who puts in for 100 shares, 1,000 shares, and gets their order done, they're not, I don't think, being ripped off. 
So I thought it was an exaggeration. 
RUHLE: Finally, a thoughtful, experienced, fantastic response to a headline we've all been screaming about for two weeks. 
Watch below:

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