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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 factory output falls.   Despite the wider economy's problems, the government has waged a campaign for two years to cool an overheated property market in order to soothe discontent among middle-class Chinese who are increasingly priced out of the urban housing market.   China's ruling Communist Party is particularly keen to quell disquiet ahead of its once-a-decade leadership change scheduled for this autumn, a showcase event that the government would prefer to take place against a backdrop of rising ...

Emaar to build five-star Dubai hotel in first post-crisis venture  DUBAI: Emaar Properties, developer of the world's tallest tower in Dubai, plans to build a new hotel in the city's high-end Downtown area, its first major hotel project since the emirate's property crisis erupted in 2009. Emaar, which had skirted clear of its home market in the aftermath of the debt crisis, said the construction of the five-star hotel will be financed mainly through pre-sales of serviced apartments. "The hotel we're launching today represents an opportunity to ...
Hong Kong apartment fetches record $61mn HONG KONG: A luxury apartment in Hong Kong has sold for a record HK$470 million ($61 million), making it the priciest condominium in the Chinese city and possibly in Asia, reports said Friday. An unidentified buyer paid the HK$75,806 ($9,773) per-square-foot price for the 6,200-square-feet (576-square-metre) unit at Opus Hong Kong in the upmarket Peak residential area, Hong Kong Economic Journal and Sing Tao Daily said. The whopping price for the unit, which takes up the entire ...
China ponders property controls: Xinhua BEIJING: China is studying new measures to beef up controls on the property sector, state media said, amid signs of rebounding housing prices. The housing ministry is "closely monitoring" changes in the property market and "is studying with relevant departments further policies to strengthen market control", Xinhua news agency said late Thursday, citing an unnamed official. New home prices in 50 out of the 70 Chinese cities tracked by the government increased in July from June, latest ...
More Chinese cities record new home price increases  BEIJING: New home prices in more Chinese cities rose in July than in the previous month, the government said Saturday, amid cautious optimism the country's property market may be bottoming out. Prices in 50 out of the 70 Chinese cities tracked by the government increased in July from June, the National Bureau of Statistics said in a statement. That represented a doubling from 25 in June. China has been taking steps to tighten its housing market for ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln