Trading Floors Buzz With Excitement as BOJ Axes Negative Rates
One word echoed across trading floors from Tokyo to Singapore as the Bank of Japan raised rates for the first time in 17 years — ‘finally’.
Latest Videos
The information you requested is not available at this time, please check back again soon.
One word echoed across trading floors from Tokyo to Singapore as the Bank of Japan raised rates for the first time in 17 years — ‘finally’.
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.
Vietnamese prosecutors sought the death penalty for real estate tycoon Truong My Lan, indicted in a $12 billion fraud case for her role in bribing government officials, violating bank lending rules and embezzling funds, VnExpress news website reported.
Japan’s real estate shares were the biggest winners on Tuesday after a widely expected move by the Bank of Japan to end its negative rates regime, with investors focusing on the dovish tone by the central bank and the inflation outlook.
The painful decoupling offers a glimpse of what awaits both sides if the war in Gaza permanently ruptures ties.
Jan 17, 2018
The Canadian Press
VICTORIA -- Premier John Horgan says he has plans to tone down speculation in British Columbia's real estate market but they don't include banning foreign buyers.
Horgan said Tuesday he rejects recent calls by Green party Leader Andrew Weaver to implement a New Zealand-style law that restricts the purchase of existing homes to residents of New Zealand and Australia.
The government's February budget will include measures to dampen speculation and increase housing supply, but not a prohibition on foreign buyers, he said.
"I just don't believe in an open economy that's an appropriate way to proceed," he said at his first news conference of 2018.
"I do believe we need to knock back speculation and make sure we are penalizing that behaviour in the interest of reducing demand and softening prices."
Horgan said a ban on foreign buyers sends the wrong signals to investors about B.C.'s economy.
"B.C.'s the gateway to Canada and I don't believe we should be curbing people from coming here," he said. "I'm a child of an immigrant and virtually everyone I see here is a child of an immigrant."
Weaver said in a statement the government should act to target overseas speculation, moving towards a full ban.
Horgan said he is prepared to face questions about B.C.'s real estate market during his trade visit to China, Korea and Japan, which starts Saturday.
"What we know with absolute certainty is money raised in other parts of the world is distorting our housing market and we want to take steps to address that," he said.
The former Liberal government introduced a 15-per-cent tax on foreign buyers purchasing real estate in Metro Vancouver in an effort to help more B.C. residents to buy homes.
Horgan has also said the budget will include measures to stimulate construction of more rental units and family sized homes.