Israel's Ban on Palestinian Workers Is Hurting Both Economies
The painful decoupling offers a glimpse of what awaits both sides if the war in Gaza permanently ruptures ties.
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The painful decoupling offers a glimpse of what awaits both sides if the war in Gaza permanently ruptures ties.
China Evergrande Group’s alleged $78 billion revenue overstatement escalates the legal peril of founder Hui Ka Yan, who now stands at the center of one of the biggest financial fraud cases in history.
Donald Trump lost his bid to prevent testimony from a porn star and a Playboy model at the former president’s criminal trial in New York, where he’s accused of falsifying business records related to hush-money payments before the 2016 election.
The Bank of Japan is poised to end on Tuesday its yield curve control policy as well as purchases of riskier assets such as exchange-traded funds, Nikkei reported, without saying where it got the information.
Creditors of the two main property units in Rene Benko’s Signa conglomerate backed plans to sell off assets as part of a restructuring that’s expected to recoup about 30% of their money.
Jan 5, 2017
Toronto’s housing market just capped off a second straight record year of sales. Total purchases across the Greater Toronto Area rose 11.8 per cent to 113,133 in 2016, with the dollar value of those transactions hitting $82,578,210,100.
But the president of the regional real estate board isn’t pointing his finger at foreign buyers. Survey data released on Thursday by the Toronto Real Estate Board suggests those international homebuyers account for five per cent of sales in Toronto.
“It is important to point out that the strong demand that we experienced in 2016 was very much domestic in nature,” said Toronto Real Estate Board President Larry Cerqua in a statement; adding a strong local economy, low unemployment and “very low” borrowing costs also contributed to the demand.
The average selling price across the GTA rose 20 per cent in December on a year-over-year basis to $730,472 amid a dearth of inventory as total active listings plunged 48.1 per cent.
And that market dynamic prompted a warning from TREB that prices will keep rising unless policymakers step in to unlock supply.
“If we continue to see record or near-record levels of demand up against very constrained supply, then I think you’re still going to see a lot of upward pressure on pricing,” said Jason Mercer, TREB’s director of market analysis, in an interview with BNN. “And that’s why we’re urging, when we’re talking about policies pointed at the housing market, that you have to look at both sides of that price equation. We’ve looked a lot at demand, not very much at supply. I think that has to change for this year.”
Toronto Mayor John Tory recently told BNN he’s watching the real estate market “very carefully”, and acknowledged surging prices could be “scary” for young people looking to enter the market. But he balked at the idea of intervening hastily in an attempt to cool prices.
“The worst thing we could do for the marketplace and its long-term health is to act in a hasty manner, to do something that’s politically sexy, but that is actually not going to be effective and may even be less than responsible.”
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