Investing

Report: Blackstone, Morgan Stanley to acquire Lloyds Australia loans

Morgan Stanley and private equity giant Blackstone are close to buying AUS$2 billion worth of distressed commercial property debt being offered for sale by Lloyds Banking Group for about AUS $640 million ($621 million), according to reports.

Norway's housing prices rise 0.1 Pct in May

Norway’s seasonally adjusted housing prices increased by 0.1 percent in May compared to April, according to a report released by real estate industry associations on Friday.

TEXT - Fitch rates Jebel Ali Free Zone FZE 'B'/RWP pending proposed refinancing

Fitch Ratings has assigned the Jebel Ali Free Zone FZE (JAFZ) a Long-term Issuer Default Rating (IDR) of 'B'. The IDR is initiated on Rating Watch Positive (RWP), pending conclusion of the current refinancing. A successful conclusion of the refinancing as discussed below would result in an upgrade to 'B+' with a Stable Outlook.
  • A harsh lesson on charitable contributions
    A California entrepreneur got a harsh lesson on the rules of charitable contributions this week when the U.S. Tax Court denied his $18.5 million deduction for real estate donations -not because he inflated their values, but because he didn't follow the rules.
  • Dubai Nakheel reports $98.6 Mln profit in first quarter
    Dubai Nakheel, the state-controlled builder of artificial islands off Dubai’s coast, reported a first-quarter profit after a year-earlier loss as it delivered more completed properties to buyers and cut costs.
  • TEXT-S&P Summary: Evergrande Real Estate Group Ltd.
    The rating on Evergrande Real Estate Group Ltd. reflects the company's aggressive growth appetite, debt-funded expansion, short operating and financial management track record as a large-scale developer, and weak corporate governance history. Evergrande's high-volume and large-project-size business model could expose the company to execution risk in small markets. The company's large, low-cost, and geographically diversified land bank, competitively priced products, and good execution because...
  • TEXT-S&P cuts Swedish Stena AB to 'BB'; outlook stable
    The expected improvement predominantly reflects the last drilling ship that will begin operating in the second quarter, and the LNG vessels that will contribute through the full year. We anticipate some modest improvement in the group's ratio of adjusted FFO to debt in 2013.
  • Real estate firm Africa Israel reports dip in profit
    Israeli real estate developer Africa Israel Investments reported a drop in first-quarter net profit as a result of a drop in financing income and higher tax expenses.
  • Survey: Now is best time to buy real estate
    Now is the best time to buy real estate despite uncertainty in the US market, according to a new Housing Predictor survey.
  • Brazil's thriving housing market might not last forever
    Brazil's real estate market has been thriving over these last years, but economists believe the current growth may not be sustainable.
  • Pending home sales unexpectedly dip in April
    The number of Americans signing contracts to purchase previously owned homes fell in April to a four-month low, indicating the U.S. housing recovery remains uneven, according to a report released Wednesday.
  • Four new ways to curb your market enthusiasm
    It's already shaping up to be a summer of discontent for investors, so it's time to manage your expectations. To a global investor, there are conflicting signals everywhere: Although the U.S. economy continues to chug along like a tugboat, the "fiscal cliff" of massive tax increases and budget cuts still looms at the end of the year. Then there is the euro zone opera with the fat lady singing in Greece, Spain and elsewhere.
  • China stimulus unnecessary, risks long-term damage
    China does not need massive fiscal stimulus to stabilize growth and calm investors fretting that the global economy may slip back into a similar crisis as 2008-2009, top policy advisers said on Wednesday.