GIC says credit crisis hurting Asian property markets

GIC says credit crisis hurting Asian property markets 
 
The real estate arm of the Government of Singapore Investment Corp, or GIC, said that the credit crunch arising from the US subprime crisis is being felt in Asian property markets.
 
President of GIC Real Estate Seek Ngee Huat said some market weakening is being sensed in [...]

7 CUTS LATER, OUTLOOK’S STILL UNCLEAR

7 CUTS LATER, OUTLOOK’S STILL UNCLEAR
Fed’s latest slice signals a pause, but statement shows it’s unsure about next step
 
Michael S Derby
 
The statement announcing the United States Federal Reserve’s interest-rate cut on Wednesday shows a policy-making body caught between conflicting forces and playing for time.
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Fed chairman Ben Bernanke and his colleagues surprised [...]

PROPERTY MARKET CRASHES, BUT HE MAKES $5b

PROPERTY MARKET CRASHES, BUT HE MAKES $5b
 
HE saw the mortgage crash coming. And he bet big on it.
 
21 April 2008
 
HE saw the mortgage crash coming. And he bet big on it.
 
So where others struggled because of the credit crisis, Mr John Paulson, a previously obscure fund manager from New York, took home a startling US$3.7billion [...]

Greenspan: US home prices may stabilise this year

 Greenspan: US home prices may stabilise this year
 
Wednesday • April 9, 2008
 
— Bloomberg
 
Former US Federal Reserve Chairman Alan Greenspan said the drop in American home prices will probably end “well before” early next year as the number of houses on the market diminishes, aiding an economic rebound.
 
“It will not be until early 2009 that we [...]

Who’s who in the credit crisis

I DON‘T play golf very often.
 
Why? The non-golfers in Indonesia explain it well: ‘Too many holes, too many balls, too many sticks.’
 
Translation: Chasing a little white ball over a few kilometres is very time-consuming.
 
The last time I played golf was also the most fun. It was in the Philippines where they have a disrespectful [...]

Dark skies ahead: Soros

Dark skies ahead: Soros
 
Markets likely to fall more this year after brief rebound
 
Friday • April 4, 2008
 
— Bloomberg
 
NEW YORK — Billionaire George Soros (picture) has called the current financial crisis the worst since the Great Depression and said markets would fall more this year after a brief rebound.
 
“We had a good bottom,” Mr Soros said [...]

Mortgage relief to be expanded: Bush

Mortgage relief to be expanded: Bush
 
Monday • March 31, 2008
 
President George W Bush said the government will expand efforts to help homeowners avoid foreclosure as Democrats increase pressure on his administration to reduce unaffordable home-loan payments.
 
The White House is “committed to building on” its programme to help borrowers refinance mortgages, Mr Bush said in [...]

US recession may be as deep as in 1990s: Merrill

US recession may be as deep as in 1990s: Merrill
 
The US Federal Reserve will likely remain in ‘aggressive rate-cutting mode’ as a result. -Reuters
 
Fri, Feb 22, 2008
Reuters
 
NEW YORK - THE United States is in a recession that could be much worse than it faced in 2001, and closer to the sharper economic [...]

More sub-prime woes

 
More sub-prime woes
 
DBS 4Q profit falls 18%, down to $491 million
 
Weekend • February 16, 2008
 
DBS Group, South-east Asia’s biggest bank, said on Friday fourth quarter net profit fell 18 per cent from the previous year as it set aside additional provisions to cover its exposure to risky United States mortgages.
 
Net profit for the three months [...]

IMF: It is a global slowdown

IMF: It is a global slowdown
 
World growth expected to hit 5-year low over US fallout
 
Thursday • January 31, 2008
 
THE International Monetary Fund (IMF) cut its 2008 forecast for world growth, warning that the global economy will deliver the weakest performance in five years as United States-originated financial strains intensify.
 
The IMF said no country will entirely [...]