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Spain’s first Bitcoin-only apartment sale goes on real estate market

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A residential attic in the center of the Catalonian city in Spain became the first Spanish real estate property that has been put on the market only for Bitcoins.

Bitcoin (BTC, XBT) is a decentralised global digital currency that isn’t backed by a central bank or single administrator, in other words, it is a peer-to-peer electronic cash system which has seen a massive increase in its value in recent times.

According to Víctor Monreal, executive director of the Barcelona-based real estate company Mister Piso, which has put this residence on the market said on Wednesday Bitcoin enabled “a much speedier and effective transaction than the traditional payment method.”

In his opinion, normal payment “is managed by banks engaged in financial intermediation and subject to excessive and unnecessary regulation,” Efe reported.

The apartment that can only be purchased in Bitcoins is located in Tarragona’s central Plaza Imperial and it was its owner who decided that payment could only be made in Bitcoins.

The attic has gone on the market with a price tag of 40 Bitcoins, which at Wednesday’s BTC virtual exchange rate is the equivalent of $583,950.

In the event a potential buyer does not have Bitcoins, he will be directed to one of the numerous bitcoin exchanges operating on the internet, Monreal said.

Bitcoin transactions take place between users directly, are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a “blockchain.”

An independent verification of the “chain of ownership” of any and every Bitcoin value is achieved as each network node stores its own copy of the blockchain.

Bitcoin was invented by a person or group behind the name Satoshi Nakamoto and released as open-source software in 2009.

Since the beginning of 2017 Bitcoin has experienced a spectacular rise in value, passing from $999 per Bitcoin in Jan. 2017 to the current but volatile, $14,633 per coin.

The director of Mister Piso said he believed there will be a growing number of consumers opting to make their daily purchases with this digital currency.

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94 MLAs with criminal cases, 187 multi-millionaires in new MP Assembly

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Bhopal, Dec 14 : As many as 94 MLAs have declared criminal cases while a whopping 187 of the 230 MLAs are multi-millionaires in the newly-elected Madhya Pradesh Assembly, a report by the Association for Democratic Reforms (ADR) revealed on Friday.

The Congress, which won the Assembly polls, leads the list with 56 MLAs having criminal antecedents, followed by the Bharatiya Janata Party (BJP) with 34 while the Bahujan Samaj Party has two such lawmakers.

Of the 94 MLAs with criminal cases, 47 face serious charges with six of them facing charges of attempt to murder, three facing charges of crime against women and one for murder.

On the financial front, 187 of the lawmakers are multi-millionaires with the BJP leading the pack with 109 such MLAs followed by the Congress with 90.

BJP’s Sanjay Satyendra Pathak from Vijayragahvgarh constituency in Katni district is the richest MLA with assets in excess of Rs 226 crore. Fellow party lawmaker Chetanya Kasyap from Ratlam City is next with properties in excess of Rs 204 crore.

The average assets of the MLAs in the current Assembly is above Rs 10 crore which is just double that of the 2013 Assembly.

As many as 86 of the MLAs were re-elected and their average assets in the last five years have grown by nearly Rs 7 crore — a rise of 80 per cent.

There are only 21 female members in the new Assembly.

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Sensex ends flat on weak global cues, RBI board meet

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Mumbai, Dec 14: The key Indian equity indices closed flat after trading in a narrow range on Friday tracking weakness in Asian and European markets over concerns of slowdown in global growth.

Caution in the domestic markets also prevailed as the outcome of Reserve Bank of India (RBI) board meeting was awaited till the closing bell.

Although with meagre gains, domestic indices logged their fourth session of advances led by Telecom, oil and gas and power stocks. However, finance counters remained subdued.

The Sensex settled 33.29 points higher at 35,962.93 points, touching an intra-day high of 36,019.02 and a low of 35,813.85.

The Nifty50 gained 11.85 points or 0.11 per cent to close at 10,803.40.

Bharti Airtel gained the most of the 30-stock Sensex. The shares of telecom major gained over 5 per cent after Telecom Disputes Settlement and Appellate Tribunal (TDSAT) scrapped rules on predatory pricing.

It was followed by Yes Bank which advanced by 3.23 per cent. Oil and energy stocks like ONGC, NTPC and Power Grid gained in the range of 1 to 2.5 per cent.

In contrast, HDFC and Wipro were the major losers followed by L&T, Sun Pharma and Adani Ports.

IANS

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Lower food prices ease India’s WPI to 4.64% in November

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New Delhi, Dec 14: Lower food and fuel prices eased India’s annual rate of inflation based on wholesale prices to 4.64 per cent in November from 5.28 per cent in October, official data showed here on Friday.

However, on a year-on-year (YoY) basis, the Wholesale Price Index (WPI) data furnished by the Ministry of Commerce and Industry was higher than the rise of 4.02 per cent reported for the corresponding period of 2017.

“The annual rate of inflation, based on monthly WPI, stood at 4.64 per cent (provisional) for the month of November, 2018 (over November, 2017) as compared to 5.28 per cent (provisional) for the previous month and 4.02 per cent during the corresponding month of the previous year,” the ministry said in its review of “Index Numbers of Wholesale Price in India” for November.

“Build up inflation rate in the financial year so far was 4.73 per cent compared to a build up rate of 2.83 per cent in the corresponding period of the previous year.”

On a sequential basis, the expenses on primary articles, which constitute 22.62 per cent of the WPI’s total weightage eased to 0.88 per cent, from a rise of 1.79 per cent in October.

Similarly, the prices of food articles declined. The category has a weightage of 15.26 per cent in the WPI index. It deflated by (-) 3.31 per cent from a rise of (-) 1.49 per cent.

In addition, the cost of fuel and power segment, which commands a 13.15 per cent weightage, increased at a slower pace of 16.28 per cent from a growth of 18.44 per cent.

The expenses on manufactured products registered a rise of 4.21 per cent from 4.49 per cent.

On a YoY basis, onion prices deflated by (-) 47.60 per cent, whereas potatoes became dearer by 86.45 per cent.

In contrast, the overall vegetable prices in the month under review declined by (-) 26.98 per cent, against a rise of 59.87 per cent in the same month a year ago.

Among the non-food items, the price of high-speed diesel rose by 20.16 per cent on a YoY basis, petrol by 12.06 per cent and LPG by 23.22 per cent.

IANS

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