China’s Property Crisis Is Rippling Through Its Biggest Banks
China’s protracted property downturn is eroding the balance sheets of the nation’s largest state banks as their bad loans creep up.
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China’s protracted property downturn is eroding the balance sheets of the nation’s largest state banks as their bad loans creep up.
Two years ago, Dubai became a hot favorite with Russians looking to park money or build new lives after President Vladimir Putin’s invasion of Ukraine. That allure is now dimming as the cost of living in the glitzy emirate surges and its banks get stricter in enforcing US sanctions.
The Bank of Korea warned Thursday that a further slump in the real estate sector would undermine broader economic activity, as it pointed to worsening delinquencies among developers in the latest signal of continuing woes in the credit market.
Australian retail sales moderated in February despite Taylor Swift-driven demand, as households remained cautious about their finances with inflation still elevated and interest rates at a 12-year high.
UK home sellers are offering smaller discounts as rising expectations of interest-rate cuts this year boost demand.
Dec 13, 2018
Bloomberg News
,(Bloomberg) -- Manhattan’s apartment renters got a break in November, with leasing costs dropping after two straight months of increases.
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To contact the reporter on this story: Justina Vasquez in New York at jvasquez57@bloomberg.net
To contact the editors responsible for this story: Debarati Roy at droy5@bloomberg.net, Christine Maurus, Josh Friedman
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