Home Refinance Interest Rate

Rents have risen at their highest rate in 18 years because investors have sold property assets to boost their superannuation, housing economists say.

And an interest rate rise next week would make buying a home even harder for those hit already with higher rent.

PIONEER GROUP INAUGURATES US$5 MLN BUILDING IN CEBU

CEBU CITY - The Pioneer Group recently inaugurated its P230 million (US$5 million) building at the Cebu Business Park, the city's new business district.

Pioneer president and chief executive officer (CEO) Lorenzo Chan said the company already had plans for expansion since 1961, and "Cebu is the first place that came into our mind."

AUST'S MACARTHURCOOK SAYS NO DIRECT EXPOSURE TO US SUB-PRIME

SYDNEY - Property investor MacarthurCook (ASX:MCK) says it has no direct exposure to the US sub-prime mortgage market.

Ratna PSUs can park only 30% in govt MFs

In a significant decision that may have far reaching implications on stock market the government, on Wednesday, decided to allow Navranta and Miniratna Public Sector Undertakings (PSUs) to invest up to 30 per cent of their surplus cash fund only in public sector mutual funds.. .

Taylor Wimpey Profit Beats Estimates; Raises Target (Update3)

July 31 (Bloomberg) -- Taylor Wimpey Plc, Britain's biggest homebuilder, posted a first-half profit that beat analyst estimates and raised its target for cost savings from the merger that created the company.

Taylor Wimpey, which builds a range of apartments and family homes in the U.K., Spain and North America, has cut about 5 percent its workforce, reduced building costs and improved supplier agreements to boost profitability.

Instant Insight: Federal Reserve Leaves Rates Unchanged, Remains Hawkish

The Federal Reserve left interest rates unchanged at 5.25 percent for the ninth meeting in a row but the statement was as hawkish as the markets could have hoped for. Even though Fed Fund futures have been pricing in a 100 percent chance of a rate cut by Christmas, no one expected that cut to happen now. Instead, the market?s main focus continues to be on the FOMC statement. Given the recent deterioration in credit conditions, the Fed had no choice but to acknowledge that volatility has increased and "credit conditions have become tighter."

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WORLD MARKETS

After four years of excellent returns, it was inevitable that equity markets would take a breather. Earnings expectations can increase only so often. But the topping out of the bull market has been hit by a number of bearish surprises. Now investors are worried
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Transcript: Bank of England Inflation Report Press Conference

Mervyn King, Bank of England governor, Charlie Bean, chief economist and Paul Tucker, executive director for markets, answered journalists' questions in the Bank at the launch of its quarterly Inflation Report on August 8, 2007. This is an FT unabridged transcript edited for clarity.

Venezuela boss bites U.S. hand that feeds him, spreads oil wealth for power for the poor, himself

Second in a series on embattled Venezuela by Lowell Blankfort, prize-winning Post columnist and former co-owner, and his wife April, who have returned from almost three weeks in that country so important to American oil supplies and, increasingly, the future of Latin America.

For most of Iran's 70 million people, life is a bummer. But they have one consolation, they will tell you. While in an oil-short world, most other people are paying through the nose to fuel their cars. Iran is loaded with the stuff and Iranians never need worry where their next gallon of gas is coming from nor overpay for it.

Well, earlier this month Iranians had a shock. Their government started rationing gasoline. Iranians rioted against their loudmouth president who defended gas rationing as part of an Iranian "economic revolution."

Angry drivers set fire to more than a dozen gas tanks.