China’s skillful response to the global financial crisis has blunted the worst of the downturn, but IMF economists say trade and current account surpluses must be prevented from reasserting themselves as the global economy recovers and China’s stimulus is withdrawn.

Commercial real-estate company LNR has secured a $417 million equity infusion to help pay off a chunk of its debt.

The region near New York City is one of the nation’s toughest markets to development properties. AvalonBay is undeterred.

Markets news on stocks, currencies and commodities; US weekly jobless claims
fall slightly; Las Vegas is the foreclosure capital of the nation
with one filing for every 15 households.

The household saving rate fell in both the Eurozone and EU27 for the third quarter in a row: In the first quarter of 2010, the seasonally adjusted gross saving rate of households was 13.0% in the EU27, compared with 13.4% in the fourth quarter of 2009. In the Eurozone, the household saving rate was 14.6% in the first quarter of 2010, compared with 15.0% in the previous quarter. The US rate was 3.8% of disposable income in March.

The Minister for Enterprise, Trade and Innovation, Batt O’Keeffe TD, today launched a €7m fund that will help academics turn research into commercial products and services.

The Economic Sentiment Indicator edged up in both the EU and the Eurozone in July, while the Eurozone Business Climate Indicator also rose.

Irish average national house prices in Ireland fell by 1.7% in Q2 2010 according to the Permanent TSB / ESRI House Price Index Quarterly Review published today. This is the lowest quarterly reduction since the second Quarter of 2008 [April – June inclusive] and compares to a reduction in Quarter 1 this year of 4.8% and a reduction of 3.9% in Quarter 2 of last year [2009]. The fall in average national house prices in the first six months (H1) of this year was 6.4%. The average price is at the 2001 level.

Eurozone retail sales rose at fastest rate in over two years in July as the latest retail PMI (Purchasing Managers’ Index) data from Markit, signalled that sales rose for the second month running in July. The seasonally adjusted Eurozone Retail PMI - -  tracking monthly changes in the value of sales at retailers - -  remained above the no-change mark of 50.0, rising from June’s 50.4 (revised up from 49.7) to 52.4. The latest figure signalled the sharpest increase in sales since May 2008 (when sales received a boost from the timing of Easter). It was also the first back-to-back increase in sales since September 2007. However, the upward momentum was weather-related, while retailers remained uncertain in their outlook.

Markets news on stocks, currencies and commodities; The German economy added 32,000 workers in June and employment rose for the fifth consecutive month.