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.
Dec 8, 2021
Bloomberg News
,(Bloomberg) -- U.K. house prices kept climbing through November as a drought of new listings drove competition between buyers.
The Royal Institution of Chartered Surveyors expects the trend to continue across the country with rents also likely to rise -- by about 5% per year over the next half-decade -- due to dwindling stock.
Unless supply issues are resolved, “transaction levels may flat-line in 2022 with limited choice proving more significant than any shift in the interest-rate environment for new buyers,” Simon Rubinsohn, chief economist at RICS, said in a report published Thursday.
Increasingly, economists see the Bank of England hiking the cost of borrowing in February but Rubinsohn said this would not halt house-price inflation over the next year, even if it slows.
The report adds to evidence that the housing boom comfortably navigated the end of a tax break on property purchases on Sept. 30. At its peak, the relief offered savings of as much as 15,000 pounds ($20,000).
Demand continues to be fueled by city dwellers seeking more spacious properties further afield, a trend that’s likely to be reinforced as more people work from home due to the emergence of a new strain of coronavirus.
“If omicron proves a threat, demand for houses with gardens in the counties is likely to remain strong,” Dorset-based estate agent Oliver Miles said in the RICS report.
Read more: U.K. House Prices Post Strongest Quarterly Increase Since 2006
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