UAE’s $35 Billion Egypt Deal Marks Gulf Powers’ Buying Spree
Crown jewels including resorts and a gas station chain are up for grabs. Saudi Arabia mulls purchases.
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Crown jewels including resorts and a gas station chain are up for grabs. Saudi Arabia mulls purchases.
(Bloomberg) -- China’s industrial companies’ profits fell in March as exports flagged and deflationary pressures persisted, suggesting the economy’s stronger-than-expected growth early this year might be tough to maintain.
New York Community Bancorp Inc. has had one of the most tumultuous quarters in recent banking history. Its first-quarter earnings will probably reveal more about impacts from the drama — and management’s plan to move forward.
Donald Trump’s longtime personal assistant, who worked for his real estate empire for decades, told a jury that she has a “vague recollection” of seeing Stormy Daniels at Trump Tower sometime before 2015.
The delinquency rate for US small businesses climbed to a three-year high this month, reflecting the impact of rent spikes and declining revenue, according to a monthly survey.
Jan 18, 2021
BNN Bloomberg
,Toronto’s rental apartment vacancy rate climbed to a 50-year high of 5.7 per cent in the fourth quarter of 2020, according to the latest data from real estate company Urbanation.
The record vacancy rate – up 1.1 per cent from the same period a year ago – comes as more people leave Canada’s biggest city for suburbs and smaller towns amid the COVID-19 pandemic.
Urbanation said the rate is a 50-year high when examining historical CMHC survey data for Toronto back to 1971.
Meanwhile, Toronto’s average rent for purpose-built units fell 10 per cent year-over-year to $2,337 in the fourth quarter, as average per square foot rents declined 6.2 per cent to $3.49.
By comparison, average rents in the surrounding 905 region dropped only 2.2 per cent to $2,139. Average per square foot rents rose one per cent year-over-year to $2.46.
The majority of rental buildings surveyed continued offering incentives to attract new tenants, including up to two months’ free rent, Urbanation said.
The real estate company added that it expects Toronto’s rental market to improve later this year as vaccinations roll out.
“While rents have a long way to go before returning to their peak and supply will continue to be a headwind in the near-term, some improvement can be expected in 2021 as vaccinations eventually lead to higher immigration and at least a partial return to the office for downtown workers and in-class learning for post-secondary students,” Shaun Hildrebrand, president of Urbanation, said in a release.