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Fairfax to pick up stake in Catholic Syrian Bank

(Disclosure:I am market making in the shares of CSB)

Canadian billionaire Prem Watsa’s Fairfax Financial Holdings is looking to acquire more than 10% stake in Kerala-based Catholic Syrian Bank, people familiar with the development told ET. Watsa’s latest Indian bet is seen as part of the Canadian billionaire’s plan to establish a conglomerate in India with interests in fields ranging from banking, insurance, broking, infrastructure and chemicals.

A proposal to this regard has also been submitted to the Reserve Bank of India, sources said. “The bank needs constant capital …we are talking to many investors including Fairfax,” said S Santhanakrishnan chairman, Catholic Syrian Bank. A mail sent to Fairfax Financial did not elicit any response until press time Sunday.

from ET

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Chart: Brexit Domino Effect

Source: Business Insider

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The Difference

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Cartoon: Financial Media

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Linkfest: June 27,2016

Some stuff I am reading today morning:

Brexit and the future of Europe (George Soros)

The EU will treat UK like Greece (Telegraph)

BSE shareholders vote for listing (Money Control)

Govt to save 10,000 Crores annually by rooting out bogus ration cards (FE)

The RSS View on the economy (ET)

“Winners Curse” affects Porinju Veliyath’s PMS (RJ)

Mexican Peso is the bell weather for EM Volatility (Quartz)

How to not blow yourself up (Adam Grimes)

How individual investors can beat institutional investors (AM)

On Narasimha Rao’s legacy (ET)