Monthly Archives: February 2011

URA Releases Pioneer Rd Sales Conditions

SINGAPORE: The Urban Redevelopment Authority (URA) has released on Friday the detailed sales conditions for an industrial site located at Pioneer Road North. It has a site area of about 1.7 hectares and a maximum permissible gross plot ratio of … Continue reading

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Property Prices May Soon Drop

SINGAPORE: The head of Singapore’s second-largest developer said property prices in the Republic could drop by three to five per cent this year. City Development’s billionaire chairman, Kwek Leng Beng, gave this assessment as his company announced a record pre-tax … Continue reading

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Inflation-Hit India Gains New Price Measure Tool

NEW DELHI: India launched a new consumer price index on Friday aimed at measuring the cost of living across rural and urban areas as it battles to bring inflation under control. Billed as the “common man” index, it will not … Continue reading

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Budget 2011: Deficit Of S$2.2b Expected For FY2011

SINGAPORE: The Singapore government said it expects a budget deficit of S$2.2 billion for FY2011, or 0.7 per cent of GDP. This is after factoring in the various tax measures and special transfers in this year’s budget. This is smaller … Continue reading

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611 Real Estate Salesperson Applications Rejected

SINGAPORE: The Council for Estate Agencies (CEA) has rejected 611 individuals applying to be real estate salespersons. In a written reply to a parliamentary question, National Development Minister Mah Bow Tan said 392 were rejected as the applicants had neither … Continue reading

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Obama Says Budget Will Feature Cuts And Investment

WASHINGTON: US President Barack Obama said on Saturday he was determined to carry out budget cuts needed to improve America’s balance sheet, but insisted on making key investments in the country’s future. The president unveils his spending blueprint on Monday, … Continue reading

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South Korea Freezes Key Rate Despite Inflation Fears

SEOUL: South Korea’s central bank left its key interest rate unchanged on Friday despite official concerns about inflation. Bank of Korea governor Kim Choong-Soo and his fellow policymakers froze the benchmark seven-day repo rate at 2.75 per cent, following a … Continue reading

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US Unveils Housing Market Overhaul

WASHINGTON: The Treasury Department proposed Friday to set a mandatory 10 percent down payment for US home buyers and to wind down state-backed mortgage lenders that have underpinned the housing market for 40 years. “The plan is for fundamental reform, … Continue reading

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Bank of England Holds Rates Despite Inflation Jitters

LONDON: The Bank of England held British interest rates at a record low on Thursday in the face of a fragile economic recovery despite mounting concern that inflation could soon shoot above 5.0 percent. The central bank said its nine-member … Continue reading

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India’s Home Loan Rates Set To Rise

NEW DELHI: Interest rates on home loans in India are set to go up as the country’s central bank recently hiked its lending and borrowing rates by 25 basis points. This will affect the budgets of families already battered by … Continue reading

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