IPIN Live - Archived posts for March 2010

Demand for property in London's most desirable postcodes has begun to cool, dampened by the spectre of a further cap on bonuses, higher taxes and a looming election.

Royal Bank of Scotland’s Indian private banking arm has appointed Leena Gidwani as Market Head of its Western Region

The economy here will resume growth next year and may enter a prolonged period of expansion, according to National Irish Bank.

House prices in the North are falling further than in any other region in the UK, new industry figures show.

Hutchison Whampoa, billionaire Li Ka-shing’s biggest company, says annual profit has risen 12 per cent

Fundamental and technical interests are working together to prevent crude oil from fully developing a renewed bull trend.

Britain escaped from a record recession in better shape than previously thought in the fourth quarter of 2009.

House prices rose by 0.7% in March, according to figures from Nationwide.

Royal Bank of Scotland is to pay a £28.6m fine after admitting breaches of competition law.

The UK's largest listed residential landlord has made a £32m offer for the company that acquires properties at a discount through equity release plans

Arab Investments, the developer behind the 64-storey skyscraper planned in the City of London, has had pledges of more than £550m from a consortium of German, French and UK banks

Crude oil prices continue to oscillate in a familiar range above the $80 level eyeing a convincing break in risk trends while gold and silver technical positioning hints further gains ahead.

The U.S. dollar traded lower against all major currencies overnight amid aggressive selling

The German labor market is expected to weaken further in March as economists forecast unemployment to increase 7K for the second consecutive month

Greece on Monday took five billion euros with a seven-year bond just days after being thrown an EU lifeline to help resolve its unprecedented debt crisis but analysts noted timid demand for the offer.

The combination of a steady advance in investor sentiment, a retreat for the US dollar and a terrorist attack in Russia would encourage an advance from crude prices.

Allied Farmers has taken over a $20 million-plus Hanover loan on a Pacific property project which has hardly started.

Building consents issued in February jumped 10 per cent, after rising one per cent the month before.

The troubled Dubai property developer is to channel funds to unpaid contractors and offer clients new terms in order to try to restart dormant construction sites

In the past 18 months or so, most of the developed world has seen a huge cut back in mortgage lending to the consumer and interbank lending in general. As rumours of the recovery continue to smolder in the corner, with no real leap of confidence in any direction just yet, we see that the British Government has announced it’s intentions to promote 90% LTV (Loan to value) mortgages with an injection of £180m into the Post Office.

British mortgage approvals fell to their lowest level in nine months in February.

Rules governing the scenarios under which Swiss banks can manage tax-related undeclared funds of overseas clients will soon be unveiled

The Reserve Bank of India has granted in-principle approval to Credit Suisse’s application for a local banking licence, according to a report in The Economic Times.

Liverpool has overtaken Edinburgh and Manchester to become the UK’s "second city" of wealth management after London

German finance minister Wolfgang Schäuble and his Swiss counterpart, Hans-Rudolf Merz, on Friday agreed in principle to a revised double-taxation pact that will clarify tax disclosure regulations

The US Dollar and the Japanese Yen are likely to decline in European trade

Chinese carmaker Zhejiang Geely Holding sealed a 1.8-billion-dollar deal on Sunday to buy Volvo Cars as the Chinese company unleashed its global ambitions with what it called a Swedish "tiger".

Ras Al Khaimah Investment Authority (Rakia), a major provider of investment opportunities and one-stop solutions

Hedge funds and other investors who bought into Dubai government-linked corporate debt at distressed prices are sitting on a mint after Dubai on Thursday said they will be fully repaid under a restruc

Maan al-Sanea, the Saudi billionaire, has been found in contempt by a Cayman Islands court for breaching a worldwide order freezing $9.2bn of his assets.

Prime Minister Abhisit Vejjajiva will pay a two-day official visit to Bahrain next Tuesday and Wednesday to tighten trade and investment ties between the two countries, reports said.

Former Citadel partner Tim Throsby has joined JPMorgan as global head of equity derivatives, according to a Reuters report.

Asset and wealth management, private and business clients, and transaction banking are expected to contribute almost €3.7bn ($4.9bn) to Deutsche Bank’s overall pretax profit target of €10bn for 2011

A haphazard assessment of the broader financial markets can easily come to the conclusion that risk trends are once again in full swing.

Earlier this month the World Bank announced a $300 million loan to Egypt to finance micro and small enterprises (MSEs).

Dubai's government Thursday said it will inject about $9.5 billion into Dubai World and real estate developer Nakheel but didn't outline details of plans to settle a debt restructuring deal with banks

Qatar has adopted a raft of reform initiatives to attract foreign investment (FDI) over the last few years that have led to a steep growth in the non-hydrocarbon sectors of its economy.

Dubai's browbeaten business community breathed a sigh of relief Thursday as the city-state tabled a better-than-expected proposal

The Central Bank of Bahrain announces that the latest bond issuance of the Government of the Kingdom of Bahrain has been successfully placed.

Mortgage approvals in the U.K. are expected to weaken to an annualized pace of 46.5K in February from 48.2K in the previous month, and the data could weigh on the exchange rate

For those of you who were not glued to your media channel of choice yesterday as UK Chancellor Alistair Darling announced his last pre-election budget, we have trawled through the numerous reports and ask “What has he ever done for us?” in a bid to find out how, who and if anyone stands to make any significant gains or losses in the world of property investment.

The UK's top earners have been hit hard in today's Budget as Chancellor of the Exchequer Alistair Darling looked to higher income groups to plug the country’s huge budget deficit.

Talks between Berlin and Bern regarding a double taxation treaty are “almost finished”, the Handelsblatt quoted a German finance ministry spokesman as saying, according to a Reuters report.

Emerging markets offer some of the private banking industry's highest growth potential, leading Swiss bank executives told investors at a conference in London on Tuesday

British Chancellor of the exchequer Alistair Darling, who presented his final budget yesterday before the May general election, has announced stamp duty cuts for first-time buyer

After a month and a half of drifting, the US dollar has finally made a defining bullish break.

The Euro tumbled to a 10-month low of 1.3344 during the overnight trade as European policy makers favored the International Monetary Fund's involvement in the bailout of Greece

UK Chancellor of the Exchequer Alistair Darling today defended the Government’s decision to rescue the financial sector

The national house builder moves back into positive earnings for the first time since the housing slump after recording strong growth in the number of homes sold in the UK

Chancellor Alistair Darling has scrapped stamp duty on properties under £250,000 for first-time buyers in his final Budget before the General Election.

After much hype and anticipation, we bring you the relevant snippets regarding property investment from todays UK budget announcement.

A businessman with an “insatiable thirst” to acquire properties on “a grand scale” and who persuaded banks to fund those on an “unbelievable” and “even grander scale” has been warned by a High Court

Serious is the word that sums up Vince Cable. He has got a sense of humour, as we know, but when he's talking economics he cannot help but be a touch austere, dour even.

Liechtenstein bank LLB on Tuesday unveiled a 20.2% rise in full-year net income to SFr181m (€127m) for 2009,

OCBC, which acquired ING’s Asian private banking assets for $1.4bn (€1.04bn), plans to tap its regional network

Italian Ambassador to Jordan Francesco Fransoni on Tuesday said that his country is interested in swapping a 16-million-euro Italian debt to Jordan with development projects and programs.

With the Chinese economy expanding rapidly, Beijing is increasingly looking toward the Gulf Cooperation Council (GCC) states to meet its rising energy needs

All eyes will be on Alistair Darling later when he delivers his Budget under the shadow of a fast-approaching General Election.

The Euro dropped a one-month low against major currencies on rumours that Germany and France agreed to bring in the International Monetary Fund into a Greek bailout effort.

Oil, gold and silver are little changed from yesterday with prices range-bound at familiar technical levels.

Inflation undershot expectations again in February suggesting Bank of England forecasts of further falls in 2010 may prove right and rate hikes remain a distant prospect.  

The Gulf Moroccan Holding Company's scheduled listing in the Kuwait Stock Exchange on Tuesday would crown five years of rigorous work by staff and managers, said the board chairman on Monday.

Santo Domingo.- 42 Free Zone companies of the east and central regions will be trained to improve their quality production as part of the various efforts to strengthen the sector

Japan's Dai-ichi Mutual Life Insurance Co. is headed for a market capitalisation of 15.5 billion dollars

It is often said that the rich will always get richer. Given that a large part of most High Net Worth individuals’ wealth is usually made up of property in some form or another, we thought we would take a look at the latest Wealth Report from Knight Frank for 2010 and see what the super rich were up to this year, and how they envisage property as investment for the year ahead.

The British Pound traded lower against the US Dollar ahead of a report that is set to show that the annual pace of inflation declined to 3.1 percent in February from a 14-month high

Can the FSA avoid the death knell after a Conservative party victory?

The Bank of Thailand (BOT) will intervene if the Thai baht fluctuates erratically, BOT assistant governor Paiboon Kittisrikangwan said on Monday.

Port operating profits at the company were down 8% for 2009, figures which could sway how much a consortium is willing to pay for the business

The Euro has been under pressure since the prospect of a bailout for Greece by E.U. members.

Dubai Gold (DG) futures are showing signs of consolidation on Dubai Gold and Commodities Exchange (DGCX) ahead of ending the April contract.

Sales of office properties worldwide were at just under $100 billion (Dh367bn) in 2009, falling 50 per cent year-over-year, according to a report.

More than 50 new commercial buildings on Jeddah's prestigious Sultan Road are lying vacant because there are fewer buyers, according to a real estate executive.

The UK housing shortage is at crisis point

David Cameron has committed the Tories to a new tax on banks.

GVA Sollers Solutions estimated prices have shrank by 16.75 per cent,

The professional services firm says the upcoming end-of-quarter rent deadline for retailers could spark a rash of company voluntary arrangements

DLF, the country's Biggest Realtor, has sold three-fourths of its upscale flats in central Delhi at Rs 4 crore apiece within two days of launch in a sign that demand for such properties is alive

Indian hospitality industry has become an attractive investment destination for global hospitality companies.

Abu Dhabi Al Hilal Bank said it had received a licence from the Kazakhstan Financial Markets Supervisory Authority to open the country's first Islamic bank under the name Al Hilal Islamic Bank.

Luxury lifestyle developers Damac Properties announced that the contractor JET, Egyptian Eng. & Trade Company have been awarded the construction contract for the attached villas located in Hyde Park

Emaar Properties, announced the transfer of its education portfolio in Dubai, including two schools, six nurseries and a vocational training campus,

Luxury houses at the top end of the property market are selling fast, with renewed interest in multi-million-dollar homes.

Beach shacks are facing demolition as a wave of owners who have lived in them for decades retire or pass away.

Statement from The Deposit Protection Service (DPS) Government moves to safeguard thousands of tenants’ deposits have been welcomed by The Deposit Protection Service (DPS).

With buildings due to be completed and handed over in the next two years, Business Bay is set to be Dubai's new business hub.

Britain borrowed another £12.4bn last month, new figures show, which is better than forecast but still the highest amount for February on record.

Property adviser and estate agent cautions that its performance will be flat in 2010

Mumbai developers seem to have given up on housing for the middle-class.

The private sector was concerned about the strengthening of the baht's value.

Confidence in the UK property market is fragile in the run up to the country's general election with buyers uncertain about whether it is currently a good time to buy.

A luxury golf course development is at the heart of a $19 million shareholder scrap between rich-lister William Birnie and fellow investors.

Revenue Minister Peter Dunne has added further weight to widespread expectations the tax system on property investment is to be changed, and personal taxes are to be lowered in New Zealand.

With housing prices all over the place, we take a look at ways to invest in property, without even stepping through the door.

The Council of Saudi Chambers of Commerce and Industry (CSCCI) has welcomed a proposal to establish a Supreme Real Estate Commission.

The Edinburgh-based housebuilder reported that only 88,100 homes were built last year against an estimated demand of 220,000. It said affordable homes required easily accessed financing

Overall property sales are slowing in Canada but some locations, most notably Toronto, are seeing gains in what is regarded by experts as a more balanced real estate market.

Bitter winter weather in February did not affect the number of properties sold during the month although fewer sellers came forward, according to estate agents

Bulgaria was once again at the very 'top' of the negative chart, incurring a 30 per cent decline on an annual basis

Rising rates may slow a recovery in the home building sector, which posted a big jump yesterday.

With Forbes having released its Worlds Billionaires List, we thought we would take a peek and see who, if anyone, had made it into the top 50 using property investment as their main source of wealth, given the global downturn in the property markets.

Accountants and tax experts believe this month’s Budget will take a more ‘gloves off’ approach with some significant announcements on fiscal policy.

Union Properties is continuing talks for sourcing funding for the $460 million (Dh1.68 billion) F1-X theme park

Property sales in Singapore are soaring with more units selling than analysts had expected and buyers not worried by rising prices.

Lender incentives for short sales are just the latest weapon in a growing federal arsenal of foreclosure-prevention programs, creating opportunities for savvy buyers.

European group finance ministers last night reached a deal to provide emergency bilateral loans to Greece,

The State's largest bank, Allied Irish Banks (AIB), could raise up to €400 million in fresh capital from an exchange of bonds announced by the bank yesterday, according to analysts’ estimates.

Project Qatar 2010 -- the 7th International Exhibition for Construction Technology, Building Materials, Equipment and Environmental Technology

The world's biggest steel maker ArcelorMittal said Tuesday it plans to build a 130-million-dollar steel plant in Kurdish northern Iraq in partnership with the Turkish company Dayen.

Lending to the commercial property sector has thawed over the past year

Property landlords in the UK are likely to see rental expectations increase

With the rising concerns over the likelihood of a UK hung parliament after the upcoming general election, we thought we’d take a look at the effects this could have on property investment, both at home and abroad.

The Bank of Thailand reported that branches of seven commercial banks located near rally sites were temporary closed for safety reason on Tuesday.

Union leaders will today call for company takeover laws to be strengthened in the wake of the sale of Cadbury's to US food giant Kraft.

UAE nationals will now be able to own industrial and commercial properties, granted by Dubai's government.

Supply shortfall of residential properties in Abu Dhabi is expected to fall from 40,864 units in 2009 to 29,720 units in 2012, according to a new report.

Emaar Properties has raised service fees for its communities in Arabian Ranches, The Meadows and Hattan by between 18 and 46 per cent in 2010 compared to 2009.

Mipim, the famously excessive property conference, is set to be the quietest for some time for those from the UK market as expenses are restrained and companies cut back on attendees

NS&I has launched two new issues of its inflation-beating Index-linked Savings Certificates.

US industrial production inched up 0.1 percent in February.

Developers in India are ordering feasibility studies before launching new projects

Last year was one of the weakest periods for the commercial property market in Poland in terms of volume and value

DTZ is on track to return to the black in its financial year to 30 April.

Matrix Property Middle East, a new venture of UK-based financial services business, is launching a property fund

Ratings agency says dollar faces fallout from weak US economy

Former bosses at Lehman Brothers have been accused of using an "accounting gimmick"

Another mutual looks set to bite the dust with the announcement of merger talks

Investment in the office real estate market in Belgium is surging as confidence returns.

British oil giant BP on Thursday unveiled a major strategic deal

Allowing a Greek debt default "would be like Lehman”, triggering “destabilisation” in the UK and other sovereign markets,

It's been a year since the stock market started to rebound, and 10 years since the Internet bubble burst.

The Bank of Japan's discussions on additional monetary easing

All is set for Bahrain to raise $1 billion from the international market.

Preqin's latest report, the 2010 Preqin Sovereign Wealth Fund Review.

Dow Jones Indexes, a leading global index provider, today announced the results of the regular quarterly review of the Dow Jones Islamic Market Indexes.

The average size of a home loan has risen by 40pc since 2005, leaving many Australians struggling to meet their repayments.

The majority of landlords support stronger regulation of buy to let mortgages and advice, according to a survey conducted by LSL Property Services plc.

Despite signs of recovery in the UK property sector, both commercial and domestic, there are concerns....

Angelo, Gordon & Co. and Extell Development have agreed to jointly acquire the Helmsley Carlton House, a prime Manhattan hotel, from the estate of late real-estate baroness Leona Helmsley

The value of a UBS real estate fund once valued at $6bn (€4.4bn) and now being dissolved by the Swiss bank

The Japanese government revises fourth-quarter gross domestic product growth down.

Oil prices held steady on Thursday as investors paused for breath following recent gains made after data that showed stronger US energy demand, analysts said.

Home Retail Group, Britain's biggest household goods retailer, blamed snow in January for sales falls.

Oil prices slipped under 82 dollars on Thursday as investors took profits on gains made followed data that showed stronger US energy demand, analysts said.

Dubai World's creditors have rejected the idea of taking a "haircut" on $22 billion of debt with preliminary discussions shifting towards extending the maturity of existing loans and bonds.

Union of Arab Banks (UAB) is close to finalising a plan to facilitate Islamic banks to approach Central Banks for liquidity support, said to a top UAB official.

Greece's financial woes started decades ago when the country was ruled by one socialist regime after another.

Young German families have been filling their homes with affordable Ikea furniture for years. Soon they'll be able to buy an entire house from the Swedish manufacturer too.

As the new decade marches on and we get set to enter the second official quarter of 2010,

The national foreclosure rate fell 2% in February from a month earlier, according to an industry report released Thursday.

Chinese real estate prices accelerated last month, rising by their fastest pace in two years despite government efforts to cool the market amid fears of a looming property bubble

The Trump Ocean Club in Panama City's Punta Pacifica area is taking shape.  Recent pictures posted over at the Panama Investor Blog show the project well underway.

Housing sales in the first quarter of this year set a record in the country's largest 25 markets, according to new data from the Canadian Real Estate Association.

The buy-to-let market showed further signs of growth as the annual Landlord & Buy To Let show had a record attendance of 2,314 compared to 1,780 in 2009, say LSL Corporate Client Department

We have all seen or been offered various investment opportunities over the years, most are still available, some disappear only to be re-invented in a new guise, and of course there are those that are labeled as investments by over enthusiastic snake-oil salesmen.

Private property landlords in the UK are upbeat about the rental sector and more confident than they were a month ago about the outlook for 2010

Dubai Executive Council's decree No6 of 2010 has formally empowered the Land Department of Dubai to cancel projects on the basis of a technical report and offer mediation service for disputes.

Property prices and transactions in the capital emirate are unlikely to increase significantly in the coming months, due to mortgage rate cuts

The global financial crisis and it's impact on international real estate is topic of discussion number one among real estate analysts in Central America.

As part of its efforts to rationalise costs and divest non-core assets, ICICI Bank has sold a property at Prabhadevi in central Mumbai.

Not many of us are blessed with an unlimited budget when looking for a property overseas, and when we finally find somewhere that is affordable and in the right place,

You would be forgiven for thinking that the arrival of a new mortgage product isn’t usually something that makes the news on most days. However, this is an important and historic mortgage product,

Continuing worries in the US mortgage industry have been blamed for the surprise results from the biggest Stateside housebuilder showing a loss for the second quarter of this year.

The deal is valued at 85 million euro and covers the Маll of Rousse and Mall of Stara Zagora projects.

Pearl Dubai, developers of the 20 million sq ft sustainable Dubai Pearl integrated destination overlooking the Palm Jumeirah, announced a tie-up

Dubai's government said Monday that state-owned conglomerate Dubai World will this month present creditors a proposal on restructuring its 22 billion dollars of debt.

Apparently investment guru George Soros has been on a spending spree recently expanding his positions in various gold investments including mining companies and gold shares. Announcing his opinion at the World Economic Forum in Davos that gold has become the “ultimate bubble” however, what this is supposed to mean to the average man on the street is really open to interpretation.

Many people have bought property abroad over the past few years, and despite the current general lack of cash, people still are. What most overlook though is the impact that differing currencies can have on the said purchase or investment, as well as how to actually take advantage of the strength or weakness of a currency.

As the UK financial markets, regulators and institutions have taken a fair old beating of late, the main topic floating to the top at the moment has been mortgage regulation.