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Singapore reduces industrial land tenures to cut costs SINGAPORE: Singapore will reduce the tenure of industrial land sold by the state to help lower the upfront cost of building factories and warehouses, the government said on Monday. Under the industrial government land sales programme for the second half of 2012, the tenure for all recommended sites will be cut to a maximum of 30 years, down from 60 years, said the Ministry of Trade and Industry. The tenure for sites that have not been sold will also be capped at 30 years, the ministry added. "The tenure reduction increases the government's flexibility for land redevelopment and would help to make industrial property more affordable for industrialists," it said in a statement. Singapore's industrial land sales program for July-December will total 23.72 hectares, similar to what was released in the first half. For all of 2012, the amount of industrial land made available will total 47.69 hectares, about 1.4 times more than in ...

PARIS: French hotel giant Accor said Tuesday it had sold its US budget hotel division to the Blackstone investment fund for $1.9 billion and would use the funds to tap into growth in Asia. "Accor announces it has signed an agreement today to sell its United States Economy Hotels Division to an affiliate of Blackstone Real Estate Partners VII, for a total value of $1.9 billion" (1.5 billion euros), it said in a statement. The sale of ...
SHANGHAI: Prices for new homes in China fell in more than 60 percent of major cities in April from March, the government said Friday, as moves to curb the property market took effect. Out of 70 major cities tracked by the government, 43 registered month-on-month falls in house prices last month, although that number was less than the 46 cities recorded in March. Prices were unchanged in 24 cities in April while only three cities saw price ...
MADRID: Spanish builder FCC registered a 59 percent fall in net profit in the first quarter of the year, hit hard by falling revenues at home where the economy slumped into a recession. Net profit in the first three months of the year was 16.6 million euros ($21.5 million) below analysts' expectations for 19 million euros in a Reuters poll. The company saw its first-quarter earnings before interest, tax depreciation and amortisations (EBITDA), fall by 13.8 percent ...
BEIJING: China's urban fixed asset investments rose 20.2 percent in the first four months of 2012 compared with a year earlier, the government said on Friday. Fixed asset investments in the cities are a key gauge of the Chinese government's infrastructure spending, which has increased rapidly in recent years as Beijing has sought to cushion the impact of the global downturn. Copyright AFP (Agence France-Presse), 2012 ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklySeptember 25, 2014
Reserves $13.305 bln