Saudi Arabia Is Making a High-Risk $1 Trillion Bet on Tourism
The kingdom must overcome a conservative image and concern about human rights. Visit the desert oasis town of AlUla to understand the challenge.
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The kingdom must overcome a conservative image and concern about human rights. Visit the desert oasis town of AlUla to understand the challenge.
Jury selection was completed Friday for Donald Trump’s first criminal trial, setting the stage for opening arguments Monday in a New York case accusing the former president of falsifying business records to conceal a sex scandal before the 2016 election.
Higher-than-expected interest rates amid persistent inflation are perceived as the biggest threat to financial stability among market participants and observers, according to the Federal Reserve.
Fifth Third Bancorp jumped the most in four months, leading bank stocks higher, with Chief Executive Officer Tim Spence predicting that income from lending has bottomed out.
China’s securities regulator said it will encourage the nation’s companies to list in Hong Kong as it unveiled a package of measures to bolster the city’s position as an international financial hub.
Jan 9, 2019
Bloomberg News
,Luxury-home markets across Canada’s biggest cities tumbled last year on the heels of regulations set by the federal and provincial governments to curb soaring prices and debt. Here’s what brokerage Sotheby’s International Realty Canada expects for 2019.
Toronto
In Canada’s biggest city, luxury sales -- homes priced above $1 million -- took a hit in early 2018 but gained traction in the second half of the year, buoyed by steady economic growth and population gains that significantly beat the national average. Demand for high-end real estate is projected to outpace supply and continue driving up prices through the first quarter.
Vancouver
The West Coast city will push further into a buyers’ market. New provincial taxes and rules enacted last year left an excess supply of high-end listings. Luxury sales dropped 36 per cent in the second half from a year earlier and are expected to retreat further in the first three months of 2019 while inventory continues to rise.
Calgary
Luxury sales -- which fell 10 per cent last year from 2017 -- are still facing pressures from weaker oil prices. And with forecasts lowered for general investment in the city, lukewarm demand for real estate is expected to persist.
Montreal
High-end home sales in the city reached new heights in 2018, jumping 20 per cent from 2017, driven by the strong economy, employment boom and rising investment in public infrastructure. The market is expected to stabilize in the first quarter.