Breaking Ground: The Private Residences at Esperanza & the W Scottsdale Residences
An oceanfront resort community and residences in a new hotel. ...
2008-10-15 16:00:00Exclusive Resorts Get Yet More Exclusive
Several luxury resorts in the United States and abroad have been bought by an organization that is taking them private, so they will eventually be open only to members. ...
2008-10-15 16:00:00ST. PETERSBURG
INT54International/Aviation/CrimeTurkish plane lands safely after bomb scare LeadSt. Petersburg, Oct 15 RIA Novosti A plane flying from the Turkish resort town of Antalya landed safely in St. Petersburg Wednesday after a terror scare, in which a drunk passenger threatened to blow up the plane, authorities said. A spokesman for Russia's northwest transport prosecutor's office said: "An operational headquarters is being set up at the airport, as is customary in such cases." The Airbus A-320 owned by Turkish airline THY was carrying 167 passengers.Turkish aviation authorities said a Russian man who had been drinking heavily on the Turkish Airlines flight to Pulkovo airport had threatened to blow up the plane. An airline spokesman told Turkey's NTV channel the passenger had handed a note to a stewardess saying he was carrying explosives and would blow up the aircraft. He was later restrained by another passenger. The plane continued its flight. Turkish media earlier reported that the plane had been hijacked by terrorists.---Ria Novostidkg/jg177 Words15101803
2008-10-15 10:02:05Trump golf ruling within 28 days
The public local inquiry report into Donald Trump's £1bn golf resort plans has been received by Finance Secretary John Swinney....
2008-10-15 05:30:16Southeast Asia heads for property slowdown but no bust
BUS2Business/EconomySoutheast Asia heads for property slowdown but no bustBangkok, Oct 15 DPA Having lived and learned from the 1997 crisis, Southeast Asia's property markets have so far proved resilient to the US subprime crisis and knock-on financial meltdown but they are far from immune to the global mess."No one can get off scot free from what's happening because global liquidity has been reduced and also the feel-good factor has gone," said David Simister, chairman of real estate company CB Richard Ellis Thailand."It will certainly create a slowdown and a market where for the next 18 months it's a bad time to be selling something but I don't see a situation where there will be a big slide in prices here," he added.Ironically, several negative factors have well-positioned Southeast Asian property markets for the current downturn.Firstly, the 1997 Asian crisis forced regional banks to tighten up their lending practices to the property sector.Secondly, with the exception of Vietnam, most Southeast Asian countries have not experienced the same real estate booms witnessed in Asia's rising giants China and India.These two factors mean Southeast Asian banks, which were reeling with non-performing loans to the property sector after 1997, are in relatively good shape."I think Southeast Asian banks are even less exposed to property that Northeast Asian banks," said Peter Tebutt, senior director of financial institutions at Fitch Ratings in Hong Kong.And thirdly, many Southeast Asian countries are still offering competitive prices and even possible returns on investments.Not everyone is suffering."We just launched a new project this month and it was one of the most successful launches in our history," said Dan Simmons, director of sales and marketing for Laguna Phuket, a luxury hotels and residential complex on Thailand's Phuket Island.In the wake of the US financial meltdown earlier this month, Laguna Phuket put 25 luxury homes with an average price of $412,000 on the market and sold 15 in a snap with full reservation deposits, Summers claimed."A lot of people are seeing it as a safe haven," he said. Laguna Phuket, with six hotels and 700 residential units, guarantees a 6 percent per annum return on all properties, that the listed company rents out to tourists when the owner is away.Of course, Laguna is catering to the high-end market which is more recession-proof than most.Not all resorts or market segments will be so lucky.Property developers in Vietnam, which has been enjoying its first real property booms since shedding some socialist constraints in the late 1980s, are heading into a period of tight liquidity for projects and buyers."Even if a buyer can get a loan, you're looking at 80 percent interest, so you're talking about cash buyers," said David Blackhall of VinaCapital, a property manager in Vietnam.Although pessimistic about residential properties, Blackhall is still upbeat about Vietnam's office sector."There's a lot of Middle Eastern money that wants to spread into new emerging markets," Blackhall said. "Vietnam is seen as less difficult than China, and less complex and frustrating than India."Unlike Vietnam, the Philippines' residential property sector is expected to continue growing despite the financial turmoil hitting developed countries.Real estate developers are focusing on affordable housing and condominium projects to address the demand for the country's most active buyers, the millions of overseas Filipino workers, said Mike Mabutol, a director for CB Richard Ellis Philippines.Mabutol is also optimistic about retirement villages, aiming at the US and European markets.Thailand too has targeted the retirement and second-home market for foreigners, but there are worries that many of these potential investors have seen their buying power reduced with declining property values at home."The sector of the market that is dependent on mortgaging the family residence and using the difference to buy a property in a resort is going to be affected," said Simon Landy, managing director of Primo Company, a property agent in Thailand.But even within this market there are exceptions, such as Scandinavians, who have proven major investors in Thai retirement homes."They are not so affected because they get government support to take off and die somewhere else," noted Landy.In Indonesia, where the government is actively supporting the property sector, developers have joined with local banks to offer interest rate subsidies to buyers."With credit interest rates subsidy to consumers, it's expected to help improve buyer power and property market can be maintained," said Teguh Satria, chairman of the Indonesian Real Estate Association.But property developers everywhere have been facing rising construction costs, which has provided yet another constraint on overbuilding."The real situation is that there won't be new projects in the near future for people to speculate on or to purchase, so what will happen is a contraction in the market and that is part of the correction process," said Simister.--DPAskp870 Words15100817
2008-10-15 00:00:00Medvedev names new deputy premier
INT59International/PoliticsMedvedev names new deputy premierMoscow, Oct 14 DPA Russian President Dmitry Medvedev Tuesday named a new deputy premier to oversee the country's preparations for the 2014 Winter Olympics in the Black Sea resort of Sochi. Regional Development Minister Dmitry Kozak was promoted to deputy prime minister for the job. Kozak warned last week that the financial crisis pushed Russian shares to their lowest point since the national default in 1998 and could force the state to fork up more cash for constructing Games venues. "It could have an impact. It all depends on the financial well-being of the investors we have attracted," he was quoted by Interfax news agency as saying. Medvedev announced the new government post after meeting Prime Minister Vladimir Putin and the International Olympic Committee IOC. Putin personally lobbied for Russia's first win to host the 2014 games. The government has budgeted $7 million 5.15 million euros plus an additional $5 million from private investors to build infrastructure and facilities. Speaking at an earlier televised meeting with the country's sports bodies, Medvedev underscored the prestige of the Olympics and sporting successes to Russia's national image. No investors have yet pulled out from participation, Kozak said last week.--DPAsnb/am224 Words14102134
2008-10-14 13:02:17More than 35 terror attacks prevented: Russia
INT54International/TerrorismMore than 35 terror attacks prevented: RussiaMoscow, Oct 14 RIA Novosti More than 35 terror attacks, including some potentially major ones, in Russia have been prevented and more than 350 militants detained till date this year, the National Anti-terrorism Committee said Tuesday. "Sixty-nine terrorism-related crimes have been prevented so far this year, 36 of which terrorists planned to carry out in public places. Over 350 members of illegal armed groups have been detained," said Alexander Bortnikov, who is also director of the Federal Security Service FSB. He said in 2008 over 170 militants, including 13 group leaders, had been killed during counter terrorist operations in North Caucasus. Bortnikov said a number of terrorist leaders were killed in special operations in the North Caucasus region in September. He added that the terrorist leaders, including the "Amir of Daghestan," Ilgar Malachiyev, had been killed in Daghestan's Khasavyurt and Buinaksk districts, Ingushetia's Malgobek district, and Chechnya's Vedeno district. The FSB chief said major terrorist attacks had been stopped in the southern Russian resorts of Sochi and Anapa this summer. Al Qaeda planned attacks on the resort cities of Sochi and Anapa using powerful explosives were prevented in July and August, he said. "The National Antiterrorism Committee has received evidence that there is a threat of terrorist acts in Russian areas bordering South Ossetia and Abkhazia," he said. Bortnikov also said over 30 members of the banned extremist organization Hizb ut-Tahrir had been arrested and convicted during the current year.--RIA Novostidkg/dg271 Words14101928
2008-10-14 10:03:08Gulf markets continue gains, but Kuwait bucks trend again Roundup
ECO9Economy/InternationalGulf markets continue gains, but Kuwait bucks trend again RoundupBy Aroonim BhuyanDubai, Oct 14 IANS Gulf bourses, except in Kuwait, continued their upward trend for the second consecutive day Tuesday buoyed by remedial measures announced by monetary authorities to boost the region's banking sector.The key Dubai Financial Market DFM led the region's resurgence again, posting its biggest one-day gain for the second consecutive day. The DFM index soared 10.76 percent from Monday's close to end at 3,703.34.Among the major gainers were real estate companies Emaar, which rose 14.92 percent, and Deyaar, up 14.96 percent. Arabtec and Union Properties posted gains of 14.93 percent and 14.61 percent respectively.Another major bourse in the United Arab Emirates UAE, the Abu Dhabi Securities Exchange ADX, also rose 7.53 percent from the previous day's close to end at 3,602.45.The ADX's real estate index led the gains rising 9.69 percent.Major gainers included Aldar Properties up 9.85 percent and Sorouh Properties up 9.75 percent. The Abu Dhabi Commercial Bank ADCB posted a gain of 10 percent.Investor confidence seemed to be restored in the UAE markets following news Tuesday morning that a further 70 billion dirhams $19 billion was being injected into the country's banking sector.Vice-President and Prime Minister of the UAE and Ruler of Dubai Sheikh Mohammed Bin Rashid Al Maktoum ordered the transfer of the amount to the country's ministry of finance so that it could inject the required liquidity into the national banking sector.That brought the total amount injected to the banking sector over the last month to 120 billion dirhams $32.7 billion. The UAE Central Bank allocated 50 billion dirhams $13.6 billion Sep 22 as facilities for the banks operating in the country so that they could use them if required to avoid the current global financial crisis.The Saudi market, which opens later than other regional bourses, also continued its upward surge for the second consecutive day Tuesday.The powerful Tadawul All-Share Index was up by over eight percent at 3:30 p.m. local time.Real estate, construction and banking and financial indices were the main gainers during the day's trading.Kuwait was the only exception, bucking the regional trend for the second consecutive day and falling 31 points from Monday's close to end at 11,795.7.The services sector retreated by 236.1 points while the banking sector fell 146.2 points.Three major Kuwaiti banks - Kuwait Finance House KFH, National Bank of Kuwait NBK and Commercial Bank of Kuwait CBK - had released quarterly results Monday with assertions of stability within their systems.While NBK shares fell 60 points in Tuesday's trading, CBK lost 20. Sharia-compliant KFH, however, gained 40 points.Meanwhile, another major gainer of the day was Qatar's Doha Securities Market DSM, which soared 9.88 percent or 753.27 points from Monday's close to end at 8,377.36 points.It was DSM's biggest one-day gain in eight years.Reflecting a restoration of investor confidence, banking shares led the gains.Qatar's sovereign wealth fund Qatar Investment Authority QIA has announced that it would buy up to 20 percent of the shares of the country's banks to ensure their stable foundations.Oman's Muscat Securities Market MSM too gained 8.37 percent from Monday's close to end at 7,717.43.Major gainers on the MSM floor were Shell Oman up 9.98 percent and Oman Holding International up 10 percent.The Bahrain Stock Exchange also rose 1.77 percent from Monday's close to end at 2,371.02.Opening Oct 5 after the Eid-ul-Fitr holidays, Gulf markets went into a free-fall in the face of the global credit crunch.Monetary authorities had to resort to a series of remedial measures to shore up the banking sector.Central banks of the UAE, Kuwait, Bahrain and Saudi Arabia announced interest rate cuts along with assurances of liquidity over the weekend.After Monday's resurgence, investors and the regional media reacted with joy but maintained cautious optimism.--Indo-Asian News Serviceab/sj/tb731 Words*14101849
2008-10-14 09:00:00MALACCA MALAYSIA
INT19International/Diaspora/Society/CinemaShah Rukh's Datuk title kicks up row in MalaysiaMalacca Malaysia, Oct 14 IANS Bollywood superstar Shah Rukh Khan may be hugely popular in Malaysia but his being conferred the title of 'Datuk', akin to the British knighthood, has stirred up a controversy with many questioning whether he really deserves it. "Politicians, professionals and the man on the street are hotly questioning the wisdom of the move," The Star newspaper said.Adverse comments include one that says "he hardly knows where Malacca is" and "what has has he done to promote Malacca in his songs and movies"."SMSs received by The Star also hit out at the move, demanding that such awards be given to local artistes," the paper said. Shah Rukh did not attend the ceremony Saturday at which the Sultan of Malacca, Yang di Pertua Negri Tun Mohammed Khalil Yakoub, conferred the title on a number of dignitaries on his 70th birthday. Former Malaysian finance minister Daim Zainuddin, who had suggested to Yakoub that Khan be given the title, said the move was a way to promote Malacca.Defending his recommendation, Zainuddin pointed out that Shah Rukh had shot the movie "One 2 Ka 4" at the Famosa Resort in Alor Gajah in 2001. "This resulted in many people visiting Malacca. The award was given in recognition of this," said Malacca Chief Minister Mohammed Ali Rustam.Shah Rukh was given the Darjah Mulia Seri Melaka DMSM, which carries the title Datuk that can be used by the recipient as a prefix to the name. The recipient's wife can also call herself 'Datin'.Although a fan of the Indian actor, businesswoman Fatimah Tahir said she was "stunned" to hear that he was being conferred Datukship."I thought the award is given to those who have contributed to Malacca's development. I wonder whether Shah Rukh knows where Malacca is," Tahir, 40, was quoted as saying. "I am happy for him but does he even know he is getting the award" asked lawyer Nizam Bashir.Lim Kit Siang, advisor of the opposition Democratic Action Party DAP, also pitched for the local artistes, three of whom got a lower honour that does not carry any title. Lim's take was that if Khan deserved to be a Datuk, so did Hollywood stars Sean Connery and Catherine Zeta-Jones, who shot the movie "Entrapment" in the country 1999. --Indo-Asian News Serviceved/mv/mj 436 Words*14101058
2008-10-14 01:02:06Janet Jackson cancels more concerts AP
AP - The doctor has again ordered Janet Jackson to postpone a return to her "Rock Witchu" tour. Jackson was scheduled to resume her tour Monday night at the Turning Stone Resort in New Yo...
2008-10-13 17:26:10
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