Singapore Property and Real Estate News Portal

Citigroup posts US$5.1b first quarter loss, to cut 9,000 jobs Posted: 19 April 2008 0139 hrs NEW YORK : US banking giant Citigroup reported Friday a 5.1 billion dollars net loss during the first quarter and said it would cut an additional 9,000 jobs as it struggles with bad bets on sub-prime mortgages. It was [...]

JPMorgan Chase quietly raises US$5.88b in cash Posted: 19 April 2008 0323 hrs WASHINGTON : US investment bank JPMorgan Chase quietly raised 5.88 billion dollars Wednesday, the same day it published first-quarter earnings, according to a filing with the US market regulator. The capital infusion was neither mentioned in the bank’s earnings statement nor discussed [...]

Further US rate cuts seen in wake of inflation, housing news Posted: 17 April 2008 0821 hrs WASHINGTON – Further Federal Reserve interest rate cuts appear more likely after government reports showed a modest rise in inflation and that the housing market remained mired in a deep slump. Many economists expect the US central bank [...]

Chinese Premier Wen calls for stronger efforts on inflation Posted: 17 April 2008 1709 hrs BEIJING : Chinese Premier Wen Jiabao has called for stronger efforts to rein in soaring food and other prices after the release of data showing inflation at near 12-year highs, state press reported Thursday. Wen said more must be done [...]

HK to be hit by lower exports, inflation, US dollar peg in question By Channel NewsAsia’s Hong Kong Bureau Chief Roland Lim | Posted: 17 April 2008 1915 hrs HONG KONG : Hong Kong’s economic growth is set to slow to 4.5 percent this year, as demand for exports weaken. Complicating growth this year is [...]

Oil prices strike record highs on supply jitters Posted: 16 April 2008 0409 hrs NEW YORK : Oil prices struck a series of new highs on Tuesday, with New York crude crossing 114 dollars a barrel, on concerns that supply outages will pressure crude stockpiles, with the weaker dollar continuing to lend support, analysts said. [...]

Price rises hit German investor confidence in April Posted: 15 April 2008 2047 hrs BERLIN : “Extraordinary” price rises badly dented German investor confidence in April, the ZEW institute said Tuesday as it reported a surprise drop in its closely watched monthly sentiment indicator. The institute’s indicator fell 8.7 points and now stands at minus [...]

Rising food price crisis grips World Bank meeting Posted: 14 April 2008 0052 hrs WASHINGTON : The World Bank met on Sunday faced with a mounting food price crisis that has sparked deadly unrest in developing countries, underscoring the urgency of fighting hunger and poverty. Policymakers of the development lender are due to discuss a [...]

Rising euro getting out of line with fundamentals, says EU Commissioner Posted: 13 April 2008 0043 hrs WASHINGTON : The euro has risen too high against the dollar to the point it is getting out of line with economic fundamentals, European Union Monetary Policy Commissioner Jaoquin Almunia said Saturday. “The euro’s real effective exchange rate [...]