“This is the current situation. However, what is good is that there will be no worsening in the conditions or a downturn. We cannot say precisely whether the market will climb in 2020 as a lot depends on the policies of the government,” he said. The cost of construction is now high due to the strength of the US dollar, so property prices are not expected to fall from their current levels as the dollar price goes up, U Myo Myint added. Property transactions have decline by 50 percent from their peak five years ago due to low demand. As foreigners are still unable to own land in Myanmar, there has been no pick up in the industry from foreign buying, said Daw Yin Yin Myat, central committee member of the Myanmar Urban and Infrastructure Development Association. Affordable options The need for low-cost and affordable housing, if addressed, could serve as a stimulus for the overall market, Daw Yin Yin Myat added. “The drop in demand has dragged the market down with it. … [Read more...] about Property market in Myanmar expected to stay flat till 2020
Flat rate repair times
Cracked apartments should be repaired immediately: Azmin
KUALA LUMPUR: Gombak MP Datuk Seri Mohamed Azmin Ali wants the repair works on cracks at Block F of the Taman Keramat Permai Apartment to be accelerated before the Hari Raya Aidilfitri celebration. Mohamed Azmin, who is also the Economic Affairs Minister, stressed the parties involved must ensure that the residents’ safety and quality of repair works will not be affected. “The work has commenced and I have requested to all parties involved to immediately repair (the cracks) before Hari Raya. “But, we do not compromise on the work quality and residents’ safety. Selangor State Development Corporation (PKNS) has also given assurance to prioritise residents’ safety,” he told reporters after handing over assistance to affected residents in a ceremony and closing of the evacuation centre at MPAJ Multi-purpose Hall at AU2, here today. Last Friday, more than 200 Block F occupants were ordered to move out of the building when cracks found in the structure of … [Read more...] about Cracked apartments should be repaired immediately: Azmin
Fed keeps interest rates steady as US economy motors along
WASHINGTON (REUTERS) - The Federal Reserve held interest rates steady on Wednesday (May 1) as policymakers took heart in continued US job gains and economic growth and held out hope that weak inflation will edge higher. "The labour market remains strong... economic activity rose at a solid rate" in recent weeks, the US central bank said in a policy statement a day after President Donald Trump called on the Fed to cut rates by a full percentage point and take other steps to stimulate the economy. Fed policymakers said the economy was in good shape as it stands, with ongoing job and economic growth, and an eventual rise in inflation, still "the most likely outcomes" as the US expansion nears its 10-year mark. At its two-day meeting, the Fed also trimmed the amount of interest it pays banks on excess reserves to 2.35 per cent from 2.4 per cent in an effort to ensure its key overnight lending rate, the federal funds rate, remains within the current target band. The chief concern flagged in … [Read more...] about Fed keeps interest rates steady as US economy motors along
Fed likely to ignore Trump’s call to cut interest rates
Business The U.S. Federal Reserve, leaning back against pressure from President Donald Trump to slash interest rates, is expected to leave borrowing costs unchanged on Wednesday as it maintains a 'patient' monetary policy stance amid strong economic growth. 01 May 2019 01:10PM (Updated: 01 May 2019 01:11PM) Bookmark WASHINGTON: The U.S. Federal Reserve, leaning back against pressure from President Donald Trump to slash interest rates, is expected to leave borrowing costs unchanged on Wednesday as it maintains a 'patient' monetary policy stance amid strong economic growth.Trump, who has accused the U.S. central bank of undercutting his efforts to boost economic growth, said on Twitter on Tuesday the Fed should cut its key overnight lending rate by a full percentage point and renew the quantitative easing program that saw it pump trillions of dollars into the economy in response to the 2007-2009 financial crisis and recession.Fed officials were in the middle of their latest … [Read more...] about Fed likely to ignore Trump’s call to cut interest rates
News Fed opens meeting as Trump calls for deep rate cut
WASHINGTON -- The US central bank opened its third policy meeting of the year on Tuesday under renewed attack from President Donald Trump, who called on officials to reverse course and cut interest rates. Trump slammed the Federal Reserve for "incessantly" raising interest rates and said cutting rates by a full percentage point would make the economy surge. The Fed raised rates 4 times last year -- and has done so a total of nine times since December 2015 -- moving from zero in the aftermath of the global financial crisis to the current range of 2.25 percent to 2.5 percent. But this year the Fed has been on hold and signaled clearly that it has no intention of moving monetary policy anytime soon as it grapples with conflicting signs on the economy. Trump's call for a rate cut of a full point would reverse all of the Fed moves last year and likely undermine any credibility the central bank has with financial markets. And if Trump continues to browbeat the Fed in public comments, central … [Read more...] about News Fed opens meeting as Trump calls for deep rate cut