Thursday, February 22

Tag: insights

Short supply of homes to push global property prices higher at slower pace — poll
News

Short supply of homes to push global property prices higher at slower pace — poll

Global property prices in most major markets will rise over the next two years, albeit at a slightly slower pace than predicted three months ago as strong demand and tight supply overshadow higher interest rates, a Reuters poll found. Home prices across the developed world have defied analysts' expectations, as they predicted at the start of the year prices would register double-digit falls from Covid-19-era peaks. In most markets they will end the year on a positive note. While price rises are expected to continue into next year and 2025, higher mortgage rates and the lack of supply of affordable homes will restrict prices from rising too much. The latest Reuters polls of over 100 housing market strategists taken between Nov 15 and Dec 4 showed property prices rising in five...
Forbes built a Hall of Shame for all the questionable people on its 30 Under 30 lists
News

Forbes built a Hall of Shame for all the questionable people on its 30 Under 30 lists

The Forbes 30 Under 30 lists celebrate the achievements of young people making a mark in a range of sectors. Unfortunately, quite a few of the picks are now a little questionable, to say the least. It's even become something of a meme, with users on X joking about federal authorities investigating those on the list. Announcing this year's lists on Tuesday, Forbes acknowledged there were some picks "we wish we could take back." Its "Hall of Shame" starts — appropriately enough — with Sam Bankman-Fried, the FTX cofounder who was on the 30 Under 30 finance list in 2021. Sam Bankman Forbes had estimated the then-29-year-old's net worth at more than $26 billion — only Mark Zuckerberg had made as much money that young. That was until a CoinDesk report last year showed how FTX...
No nation in the world is buying more planes than India. Here’s why
Business

No nation in the world is buying more planes than India. Here’s why

No nation in the world is buying as many airplanes as India. Its largest airlines have ordered nearly 1,000 jets in 2023, committing tens of billions of dollars to a spending spree that is unparalleled in aviation. In New Delhi, Indira Gandhi International Airport will be ready for 109 million passengers in 2024, as it prepares to become the world’s second busiest, behind Hartsfield-Jackson Atlanta International Airport in the United States. And this is happening in a vast country still heavily reliant on trains – with 20 journeys by rail for every one by air. The enormous aviation build-up, with a surge of investment behind it, has pride of place in India’s case for a greater standing on the world stage. As it moves up the ranks of the world’s biggest economies, India is scramb...
APEC Outlook: Promising Growth Amid Challenges – Balancing Acts in the Wake of Pandemic Legacy
Business

APEC Outlook: Promising Growth Amid Challenges – Balancing Acts in the Wake of Pandemic Legacy

Economic resurgence is on the horizon for the Asia Pacific Economic Cooperation (APEC) region, comprising 21 member nations, with an anticipated growth of 3.3% in 2023 compared to 2.6% in the preceding year, as outlined in the latest APEC Regional Trend Analysis report. The rebound is fueled by a resurgence in tourism and domestic consumption, although the lingering impacts of the pandemic, coupled with challenges like inflation, increased debt, climate change, trade protectionism, geopolitical tensions, and economic fragmentation, continue to cast shadows on the outlook. The report underscores the uneven economic growth in the APEC region while acknowledging signs of stability moving forward. Carlos Kuriyama, Director of the Policy Support Unit, remarked, "There are promisin...
Unfair to use ringgit-US dollar rate as sole gauge of state of economy, says Ahmad Maslan
Fashion

Unfair to use ringgit-US dollar rate as sole gauge of state of economy, says Ahmad Maslan

The ringgit’s value versus the US dollar should not be used as the sole gauge of the state of the economy, according to Deputy Finance Minister I Datuk Seri Ahmad Maslan. It is unfair for analysts to assess the economic situation simply based on this yardstick because there are other criteria that should be considered, he said before proceeding to cite five other indicators. “Firstly, there is our economic growth, which is forecast at 4%-5% next year. The second gauge is the country’s fiscal deficit which is set to fall to 4.3% (next year) from 5% this year. Thirdly, the inflation rate has continued to decline to 1.9% (in September),” he told the media after officiating the Islamic Distinguished Entrepreneur Award (IDEA Award) 2023 ceremony organised by the Muslim Insiders Chamb...
Ian Fleming: The Man Behind the Spy
Culture

Ian Fleming: The Man Behind the Spy

Nicholas Shakespeare's classy biography of the James Bond creator, Ian Fleming, dives into the life of the man who gave us the iconic 007. But it's not just about Bond; it's about the intriguing fellow behind the spy novels. Shakespeare tantalisingly hints at Fleming being a "complete man" during his stint with British naval intelligence in World War II. Now, that's quite the pitch, right? Are we about to uncover juicy bits left out in previous bios like John Pearson's compact authorised version from 1966? Fleming, also known as "Flemingway" by his pal Noël Coward, wasn't just a writer. He dabbled in journalism, stockbroking, and led a life akin to his famous creation – a playboy who puffed away 70 cigarettes a day. Sadly, he passed away at just 56 during a plagiarism row over h...
Laugh Your Way to Better Stock Performance: CEOs’ Humor Boosts Share Prices, Study Finds
Business

Laugh Your Way to Better Stock Performance: CEOs’ Humor Boosts Share Prices, Study Finds

CEOs may need to add humor to their repertoire, as a recent study published in the Review of Accounting Studies suggests that cracking a joke during earnings calls can lead to a positive impact on a company's stock price. Using machine-learning tools to analyze nearly 12,000 earnings calls, the research found that humor from executives could elicit a more favorable immediate market response. The paper's authors, Andrew Call, Rachel Flam, Joshua Lee, and Nathan Sharp, noted that when managers incorporate humor during earnings calls, it can result in more positive stock market returns and analyst forecast revisions, particularly when delivering negative earnings news. The use of humor was found to be significantly associated with the immediate market reaction, subsequent analyst beha...
Biden Administration Encourages Office-to-Apartment Conversions to Address Housing Crisis
Business

Biden Administration Encourages Office-to-Apartment Conversions to Address Housing Crisis

The Biden administration is tackling the housing crisis by proposing a plan to repurpose empty office spaces into residential apartments. The pandemic has led to a surplus of vacant offices as remote work becomes the norm, while housing demand continues to surge. Converting offices into residential units can be complex due to renovation costs and zoning regulations. To incentivise developers, the White House is making over $35 billion available through grants and low-interest loans from existing federal programs. Additionally, the initiative provides technical support to streamline the conversion process. The Department of Transportation will allocate resources to fund housing projects near transit hubs. With office vacancies at a 30-year high, repurposing unused spa...