Hub at one-north to boast civic, cultural, retail and entertainment facilities (SINGAPORE) CapitaLand and Rock Productions will spend a whopping $660 million to develop an integrated civic, cultural, retail and entertainment hub at Vista Xchange, one-north, which is expected to be completed by 2011. The hub will comprise two zones – a Civic and Cultural […]
Archive | September 10, 2007
Ascott in serviced residence tie-up
(DUBAI) Ascott Group Ltd, the biggest serviced-residence operator in Asia and Europe, and a group of Middle Eastern investors have started a venture to buy and manage properties in Persian Gulf Arab states. Bahrain-based Nuzul Holding BSC has US$100 million of start-up capital from founding shareholders including Qatar’s pension fund, Barwa Real Estate Co, and […]
A quick guide to sub-prime issues
How individual loan defaults in a faraway land can have a domino effect all over the world – including here PAUSE for a moment to consider these facts: HSBC, the world’s third-largest bank, announced that 50 per cent of its earnings in 2006 were wiped out by sub-prime losses from its US subsidiary. Since the […]
More market panic ahead as banks ‘fess up’ on sub-prime
Confidence in banks exceptionally low, says JP Morgan Asia (SINGAPORE) Be prepared for more market panic as major banks continue to ‘fess up’ to their holdings of US subprime mortgage securities over the next several months, said Ivan Leung, JP Morgan Asia chief investment strategist. The world’s financial markets are in turmoil as worries over […]
Rate cut not always needed: Fed official
Market disruptions can be addressed using tools available (NEW YORK) Federal Reserve Bank of Philadelphia president Charles Plosser said there is an ‘underlying stability’ in the US economy and officials need not always cut interest rates in response to turmoil in financial markets. ‘Disruptions in financial markets can be addressed using the tools available to […]
Fed has effectively cut funds rate: analysts
They say unusually large spread between fed funds target and effective rates signals Fed’s next move (NEW YORK) Here’s a secret: The Federal Reserve has already cut the fed funds rate. Yes, the Fed’s target rate is still the same 5.25 per cent it has been since June 2006, and the US central bank has […]
Some Katong commercial properties going for en-bloc sale
Buildings include Katong Shopping Centre; sales could help rejuvenate area and boost image FACED with flagging businesses and dwindling human traffic, the shop owners of several commercial buildings in Katong are coming together to sell their properties en bloc. This has led to renewed interest in the old East Coast hot spot recently, sparking hopes […]
