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Australia new homes sales hit 15-year low  SYDNEY: Sales of new homes in Australia fell to a 15-year low in August, an industry survey showed on Wednesday, in a sign more cuts in interest rates might be needed to revive the long-suffering housing sector.   The Housing Industry Association (HIA) said its survey of large builders showed sales of new homes dropped 5.3 percent in August, compared to July. Sales of detached homes fell 5.8 percent, while sales of multi-units eased 2.5 percent.   The decline comes despite interest rates cuts from the Reserve Bank of Australia (RBA) in both May and June.   The central bank resumed its easing this week with a quarter point cut to 3.25 percent, the lowest level in three years.   "A fresh round of interest rate cuts will help rebalance this situation, although financial institutions obviously need to play their role in cementing this outcome," said HIA chief economist, Harley Dale.   Australia's four largest banks have yet to announce ...

Qatari property firm Barwa eyeing London  DUBAI: Qatar's Barwa Real Estate is looking to invest in the London property market before the end of the year, the company's deputy group chief executive said on Tuesday.   "We're looking for a few investments in Europe, mainly London. We're interested in hotels, business towers and hope to finalise an investment before year end," Ahmad Abdulla al- Abdulla told Reuters on the sidelines of the Cityscape real estate conference in Dubai. He did not give details ...
South Korea housing prices fall in Sept, third month running  SEOUL: Housing prices across South Korea fell 0.2 percent in September from August, private-sector data showed on Tuesday, marking their third consecutive monthly decline and underscoring a stubbornly weak consumer sentiment.   Housing prices fell by 0.1 percent each in August and July on a month-on-month basis and it was the longest losing streak seen since early 2009, the data from Kookmin Bank showed.   Compared with a year earlier, housing prices in September were just 1.2 percent higher, ...
China will not ease grip on property market  BEIJING: China plans to stick to its tight property sector policies and a nationwide rebound in home prices remains unlikely, a senior official at the housing ministry said in remarks published by state media on Sunday.   The comments underscore Beijing's determination to keep a lid on rising home prices, a source of social discontent, especially in the run-up to a once-a-decade leadership transition this year.   To curb price rises, Beijing is urging local authorities to increase housing ...
China August home prices rise on month, fall on year  BEIJING: China's home prices rose 0.1 percent in August from July, to show a modest increase for a second consecutive month and signal a gentle recovery in the property market as the government seeks to spur economic growth.   Real estate, which directly impacts around 40 other business sectors in China, is a key driver in the world's second largest economy, which is currently going through its worst slowdown in three years as growth in exports and ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 04, 2015
Reserves $17.491 bln