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British house prices in biggest drop since 2009: survey  LONDON: House prices in recession-affected Britain fell in June on an annual basis by the biggest amount in nearly three years, a survey by major home-loans provider Nationwide showed on Thursday. The average value of a home in Britain stood at £165,738 ($258,838, 206,883 euros) in June -- down 1.5 percent compared with the same month in 2011, the lender said in a statement. They meanwhile dropped by 0.6 percent in June compared with one month earlier, it added. "House prices declined by 0.6 percent in June, taking the annual pace of house price growth down to minus 1.5 percent, the lowest reading since August 2009," said Nationwide chief economist Robert Gardner. "The slightly weaker trend we've observed since March is unsurprising, given the difficult economic backdrop, with the UK economy dipping back into recession at the start of the year and few signs of a near-term rebound." Britain's housing market has also been hit ...

Sunac China to pay $530mn for stakes in Greentown properties HONG KONG: Chinese developer Sunac China Holdings agreed on Friday to pay 3.37 billion yuan ($529.52 million) in cash to buy stakes in property projects owned by debt-laden luxury home builder Greentown China A cash crunch following two years of austerity measures from Beijing to cool home prices is forcing property developers to offload projects to prop up balance sheets. Hangzhou-based Greentown China, which focuses on the upscale homes targeted by Beijing's crackdown on prices, was the ...
China home price declines slow, Beijing to keep curbs BEIJING: China's home prices dipped for the eighth straight month in May but the pace of decline eased, fanning talk that the market may be bottoming out and that recent monetary stimulus could set the stage for a rebound. Home prices in the world's second-largest economy have fallen month-on-month since October, after China tightened policy more than two years ago to take the steam out of sizzling home prices. Still, Beijing reaffirmed hours after the data it ...
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 ...
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 ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyDecember
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln