NEWS
KL shares continue lower
KUALA LUMPUR, July 8 — Adverse investor sentiment on the external and domestic front continued to weigh on share prices mid-morning.
At 11.09am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 17.69 points lower at 1,694.61.
A dealer said the…
read moreAmid 1MDB probe, ringgit volatility gauge advances as bonds fall
KUALA LUMPUR, July 8 — A gauge of volatility in Malaysia’s ringgit rose to a two-month high and government bonds dropped amid a probe involving finances linked to a state investment company.
A task force that includes the police and the central…
read moreChina stocks tumble, regulator warns of ‘panic’
SHANGHAI, July 8 — Chinese stocks dived today after the securities regulator said the tumbling stock market in the world’s second-biggest economy was in the grip of “panic sentiment” as investors ignored a battery of support measures from Beijing….
read moreThailand’s parched paddies hits junta’s economic weak spot
BANG PLA MA (Thailand), July 8 — Ranong Rachasing would normally be in her fields at this time of year, toiling in ankle-deep water to make her rice paddies bloom through knowledge honed by years of cultivating Thailand’s most celebrated export….
read moreTo escape housing costs, flood of Londoners take to the boats
LONDON, July 8 — Rocketing housing costs in Britain’s capital have fuelled a surge in Londoners seeking cheaper accommodation on boats, with increased numbers putting pressure on the city’s historic network of rivers and canals.
The picturesque…
read moreKL shares weakened in early trade
KUALA LUMPUR, July 8 — Shares on Bursa Malaysia weakened early trade, with luechips leading the fall amid sustained foreign selling, dealers said.
At 10.17 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 16.24 points lower at 1,696.07, after…
read moreOn threat of suspension at Indonesia unit, AirAsia shares sink to 5-year low
KUALA LUMPUR, July 8 — Shares in budget carrier AirAsia Bhd tumbled more than 8 per cent to a five-year low today on investor concerns that it may miss a deadline to raise equity in its Indonesian affiliate to avoid the unit’s operations being…
read moreSlumping China stocks pull down Asian markets
TOKYO, July 8 — Asian shares tumbled today and the safe-haven yen rallied as Chinese stocks remained in a tailspin, shaking investors already rattled by Greece’s debt crisis.
The drop in China extended a savage correction that has clipped 30 per…
read moreShort-term interbank rates stable
KUALA LUMPUR, July 8 — Short-term interbank rates are expected to remain stable today on Bank Negara Malaysia (BNM)’s intervention to absorb excess liquidity from the financial system.
BNM estimated today’s liquidity at RM30.43 billion in the…
read moreRinggit higher against the dollar
KUALA LUMPUR, July 8 — The ringgit opened marginally higher against the US dollar on renewed buying support for the local note.
At 9.04am, the local currency was quoted at 3.8050/8080 against 3.8060/8080 yesterday.
A dealer said the ringgit…
read moreOil edges up as Greece, China worries drag
SINGAPORE, July 8 — Oil futures steadied early today on an expected drop in US inventory, but worries over the Greek debt crisis and China’s stock market turmoil dragged on prices.
A Reuters poll flagged a 700,000-barrel decline in US oil…
read moreAs Greece deadline set, euro weaker
NEW YORK, July 8 — The euro held losses and US equity futures declined after European leaders signaled they’ll force Greece out of the currency union if a Sunday deadline isn’t met.
Chinese index futures slid as the nation’s stock selloff spread…
read moreAs Europe sets deadline for Greece proposals, Asian stocks slide
SINGAPORE, July 8 — Asian stocks fell after European leaders gave Greece until Sunday to submit a new set of reforms or be thrown out of the currency union.
The MSCI Asia Pacific Index dropped 0.3 per cent to 143.29 as of 9:01am in Tokyo….
read moreSurvey: Americans ditch smartphones when buying online
WASHINGTON, July 8 — They might be so popular as to be almost an extension of people’s arms, but most Americans ditch their smartphones and return to the trusty computer when buying online.
That was the finding of a Gallup survey released…
read moreMusk: Model X will double Tesla’s sales
NEW YORK, July 8 — Tesla Motors Inc’s new Model X sport utility vehicle will double the company’s sales volume, chief executive officer Elon Musk said.
Musk, speaking with reporters yesterday at the annual Allen & Co media conference in Sun…
read moreUnless Tsipras bows to demands this Sunday, Greece faces Euro exit
ATHENS, July 8 — European leaders set a Sunday deadline for Greece to accept a rescue, saying otherwise they’ll take the unprecedented step of propelling the country out of the euro.
At a Brussels summit, Greece’s anti-austerity government was…
read moreEurogroup to hold conference call on Greek ESM request Wednesday (VIDEO)
BRUSSELS, July 7 — The Eurogroup of euro zone finance ministers will hold a conference call early tomorrow to discuss an expected Greek request for a medium-term loan from the European Stability Mechanism (ESM), Eurogroup chair Jeroen Dijsselbloem…
read moreMega-Wealthy Surge on Maltese Real Estate
The uber-wealthy have been buying up luxury property in Malta drawn by the country’s political stability and economic growth potential.
Malta’s pleasant and warm climate with year-round sunshine together with the country’s unique culture and rich history make this an investment destination that appeals on many levels, particularly to the world’s richest.
Malta has advanced considerably in the last few years both economically and socially, largely due to its resilience to the global financial crisis and its advantageous fiscal legislation.
Around 6% of the global population of ultra-high net worth individuals (UHNWI) are expatriated. The mega-rich tend to move around and according to Sotheby’s International Realty , the main reasons are the ‘internationalisation of business holdings, educational institutions stimulating foreign demand, ease of travel and an increase in required travel as well as the rise of global citizenship investor programmes’.
Malta has high aspirations for construction, with the Metropolis development project spear-heading the country’s desire to attract further foreign investment in its property markets. The multi-million euro project has the potential to become an important business and leisure hub in Malta that will stimulate investor interest considerably.
Foreign buyers are generating significant demand for Maltese property, particularly at the high-end with almost 50% of property transactions being recorded to overseas buyers in 2014. “We get a lot of locals who are looking for good quality properties and want to be treated perhaps with a little more discretion but then through the website we attract a lot of interested foreign clients too.
The majority of foreign buyers in Malta are British but there are also French and Italian buyers, Russian buyers due to the citizenship scheme as well as Dutch and South Africans but it heavily depends on where we’re promoting at a particular point in time.”
Article by +Roxanne James on behalf of Propertyshowrooms.com
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