In a big bet on China’s post-Olympics economy, Japanese developer Minoru Mori opened the country’s tallest skyscraper in a challenging environment.
Asia-Pacific Business & Finance News Week-Ending August 30, 2008 - Every year, about 1.5m engineers graduate in China. In about 10 years time, there will be enough qualified skilled students to meet the challenges China faces.
Centro Properties Group posted a net loss of $1.77 billion for the fiscal year ended June 30, reflecting a decline in property values and investments.
US consumer spending fell in real terms in July, signalling that the economy will weaken with the end of government stimulus payments, while a key inflation measure rose. In New York, stocks dropped in response to the news.
The rapid increase in the number of wealthy Indians will have a “potentially huge” impact on the U.K.’s residential property market, according to a new report.
Spanish home sales and new mortgage approvals fell sharply again in June. The data spell bad news for banks.
The European Commission said today that after a fall below its long-term average in July, the Business Climate Indicator (BCI) for the Eurozone decreased again in August. The low level of the indicator suggests that industrial activity remains subdued. The Economic Sentiment Indicator (ESI) fell in both the Eurozone and EU.
The Central Bank said today that the annual growth rate of Irish residential mortgages, inclusive of securitised residential mortgages, dropped to 9.6 per cent in July. The last time the annual rate of increase in residential mortgages was in single figures was at December 1987.
Eurozone annual inflation is expected to be 3.8% in August 2008 according to a flash estimate issued by Eurostat, the Statistical Office of the European Union. It was 4.0% in July.
The Eurozone (EA15) seasonally-adjusted unemployment rate stood at 7.3% in July 2008, unchanged compared with June. It was 7.4% in July 2007. The EU27 unemployment rate was 6.8% in July 2008, unchanged compared with June. It was 7.1% in July 2007.