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Qatar to build Harrods hotels in Malaysia, Paris, London KUALA LUMPUR: Gas-rich Qatar's sovereign wealth fund plans to build luxury hotels in Malaysia, Paris, London and China named after Harrods, the world's famous department store, a report said Wednesday. Under a $636 million plan Qatar Holding will partner a local Malaysian firm Jerantas to construct a hotel in Kuala Lumpur's golden triangle's shopping district of Bukit Bintang. Construction work is expected to begin next year on the development, which will comprise up to 300 hotel rooms, apartments and retail space covering a 5.5-acre (2.2 hectare) site, the Star newspaper said. "We are looking to invest more in Malaysia because we believe the local economy will grow over the next two years at around 5.0 percent," Qatar Holding vice-chairman Hussain Ali al-Abdulla said. Besides London where a Harrods hotel would be opened, Qatar Holding said: "The target plan is to open Harrods hotels in key cities such as Kuala Lumpur, New York and Paris ...

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, ...
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 ...


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln