Record high UK property asking prices in May

Record high UK property asking prices in May
 
LONDON - Asking prices for property in England and Wales rose to a record high in May, a survey showed on Monday, with house price inflation accelerating despite expectations for a much weaker housing market this year.
 
Property website Rightmove said average asking prices rose 2.2 per cent on [...]

Unveiling of URA Master Plan

Unveiling of URA Master Plan
 
WHAT IT IS
 
THE Urban Redevelopment Authority (URA) will unveil the Draft Master Plan 2008 on Friday.
 
The new Master Plan is expected to make changes in land use, increase plot ratios as well as lay the groundwork for a much larger population of 6.5 million, which could be reached in as short [...]

Temporary home for Tekka Market stalls

Temporary home for Tekka Market stalls
 
Brisk business at most stalls but some report fewer patrons; original market to reopen late next year after revamp
 
THE temporary home for the stalls in Tekka Market, a 10-minute walk from its original site in Buffalo Road, was officially opened yesterday.
 
The zinc structure is along Race Course Road, opposite the [...]

Profiteering adds to construction woes

Profiteering adds to construction woes
 
As costs of materials rise, some suppliers default on earlier contracts to make more
 
By ARTHUR SIM
 
(SINGAPORE) The last thing the construction industry needs now is another roadblock. But with the cost of materials and shortages soaring, the opportunity to inflate prices is too much for some errant suppliers [...]

Pre-sold projects lend support as developers undergo correction

Pre-sold projects lend support as developers undergo correction
 
Greater blow from weaker sales will be felt only over next few years: analysts
 
By LYNETTE KHOO
 
PROPERTY developers were mostly hit by slower residential sales in their first quarter results, and for some, they also suffered a lack of fair value gains in investment properties. But [...]

Retailers expect more belt tightening at this year’s GSS

Retailers expect more belt tightening at this year’s GSS
 
By SARA LIM
 
(SINGAPORE) As Singaporeans tighten their belts amid higher inflation and concerns about a slowing economy, mass and mid-market brands are expecting to do better than their luxury counterparts in this year’s Great Singapore Sale.
 
‘With a less vibrant economic outlook, consumers are more [...]

Libor anticipated changes lead to sharp rate rises

Libor anticipated changes lead to sharp rate rises
 
By NEIL BEHRMANN
IN LONDON
 
US and European interest rates jumped last week on fears of inflation and concerns that there would be a change in the calculation of London Interbank Offered Rates (Libor).
 
The British Bankers Association (BBA) meets at the end of the month and bankers [...]

More analysts sanguine about US economy

More analysts sanguine about US economy
 
They cite strength of recent data, but others caution against reading too much into it
 
(WASHINGTON) A growing number of analysts are expressing confidence that the worst may be over for the US economy, even if it struggles for some time due to weak housing, tight credit and high [...]

Sub-prime hangover lingers over US banks

Sub-prime hangover lingers over US banks
 
Earnings results show woes may extend beyond Q2
 
(NEW YORK) Financial firms that had hoped to swallow their sub-prime mortgage pain and move on are finding the hangover is lasting longer than expected.
 
Bonds of banks and insurers that have been crushed as their sub-prime losses surged still may [...]

US property set to recover in H2: Deutsche CEO

US property set to recover in H2: Deutsche CEO
 
(ZURICH) The end of the credit crisis is getting closer and the US real estate market should recover in the second half of the year, Deutsche Bank chief executive Josef Ackermann said.
 
‘I think that we are getting closer to the end of the financial crisis,’ Mr [...]