Saudi Arabia Is Making a High-Risk $1 Trillion Bet on Tourism
The kingdom must overcome a conservative image and concern about human rights. Visit the desert oasis town of AlUla to understand the challenge.
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The kingdom must overcome a conservative image and concern about human rights. Visit the desert oasis town of AlUla to understand the challenge.
Jury selection was completed Friday for Donald Trump’s first criminal trial, setting the stage for opening arguments Monday in a New York case accusing the former president of falsifying business records to conceal a sex scandal before the 2016 election.
Higher-than-expected interest rates amid persistent inflation are perceived as the biggest threat to financial stability among market participants and observers, according to the Federal Reserve.
Fifth Third Bancorp jumped the most in four months, leading bank stocks higher, with Chief Executive Officer Tim Spence predicting that income from lending has bottomed out.
China’s securities regulator said it will encourage the nation’s companies to list in Hong Kong as it unveiled a package of measures to bolster the city’s position as an international financial hub.
May 9, 2017
Reuters
,OTTAWA - The value of Canadian building permits unexpectedly declined in March for the second month in a row as there were fewer plans to build apartments in the provinces of Ontario and British Columbia, data from Statistics Canada showed on Tuesday.
Permits fell 5.8 per cent, far short of economists' expectations for a gain of 5.5 per cent. The statistics agency revised February's figures down slightly to a decline of 2.8 per cent from the initially reported decrease of 2.5 per cent.
Residential building permits slumped 8.4 per cent due to a 20.9 per cent drop in construction plans for multifamily buildings, which include apartments, condominiums and townhouses. The biggest declines were in Ontario and British Columbia, which have both had strong housing markets.
By contrast, plans to build single-family homes increased 3.0 percent, led by Ontario. A lack of supply has been partly blamed for the surge in home prices in Toronto.
Nationally, non-residential permits slipped 0.5 per cent on a decline for commercial buildings.
Total building permits were up 7.3 per cent in the first quarter from a year earlier, with gains for both single-family and multifamily residences.