Eco Analysis - Asia Round-up: Property market tightening in China sours the mood (K. Baader, W. Yao)

ECONOMICS
ECO ANALYSIS
March 4, 2013

Eco Analysis - Asia Round-up: Property market tightening in China sours the mood (K. Baader, W. Yao)

Asian stock markets started the week on a sour note, reacting to news of additional measures in mainland China to restrain real estate prices. This was arguably also the main factor driving down the Australian dollar, although the economic news reports this morning were also weak. The main exception to stock market weakness was Japan, where stocks are trading firmer despite a fractionally stronger yen. The relative stability of the yen is noteworthy, given that the proposed new BoJ governor, Mr Kuroda, reiterated in his confirmation hearing his strongly dovish bias, arguing for accelerated and broadened asset purchases. Lastly, an unexpectedly weak inflation reading in South Korea in our view boosted the chances of a rate cut by the Bank of Korea, a view that appears to be shared by the market, given the sharp decline in two-year government bond yields this morning.

Eco Analysis - China National People\'s Congress meeting preview (W. Yao)

ECONOMICS
ECO ANALYSIS
March 4, 2013

Eco Analysis - China National People\'s Congress meeting preview (W. Yao)

The annual plenary session of the National People's Congress (NPC) will convene on 5 March and close on 17 March. There is more to watch than just the routine Government Work Report and fiscal budget. New government leaders - including the President, Premier and top Ministers - will be appointed and formally take the helm. On the reform front, aside from affirmative rhetoric, we expect two concrete steps.

Chile: Steady Rate as the Only Option, Despite Concerns

Chile: Steady Rate as the Only Option, Despite Concerns

Nader Nazmi - Market Economics
Latam Macro Snapshot | 01 Mar 2013 19:19 |

Neutral rate and stance. We read the minutes of the 14 February monetary policy meeting as broadly neutral regarding the short-term outlook, ruling out any changes in the policy rate for now. According to the minutes, the policy rate remains within a neutral range and the decision to keep it steady at 5.0% was unanimous.

Securities commissioner sues Longmont private equity fund

Securities commissioner sues Longmont private equity fund
By Aldo Svaldi
The Denver Post

Posted: 03/01/2013

Colorado Securities Commissioner Fred Joseph has filed a complaint against a Longmont private-equity fund and its principals on allegations they defrauded more than 20 investors out of $3.2 million, according to an announcement Friday.

http://www.denverpost.com/breakingnews/ci_22698228/securities-commissioner-sues-longmont-private-equity-fund

First Insights: China: Another round of policy tightening in the property sector

Economics Research | Asia Ex-Japan
01 March 2013

First Insights: China: Another round of policy tightening in the property sector

The government announced today a set of new tightening policies in the property market, including: (1) imposing a 20% capital gain tax on property transactions; (2) the PBoC to raise the down payment requirement and mortgage rate in cities, where property prices have risen quickly; and (3) extending the "local resident" requirement to cities, where property prices have increased swiftly and (4) for cities with "local resident" requirements, such policies shall be implemented in a more restrictive way.

Chile: Happy 2013 Beginning for Activity

Chile: Happy 2013 Beginning for Activity

Nader Nazmi - Market Economics
Latam Macro Snapshot | 28 Feb 2013 15:06 |

According to data releases today, the economy began the year on a strong note. In January, manufacturing output surprised to the upside, retail sales expanded rapidly and unemployment fell to a six-year low. The monthly proxy for real GDP (Imacec) due out next Tuesday is thus set to reflect rapid economic expansion in January. We project a 6.8% y/y rise in the Imacec in the first month of the year. Rapid growth supports our view that fiscal and monetary policies need to turn less accommodative to reduce the risk of overheating. Chile continues to exhibit strong growth

Gallileo

Gallileo

Gallileo is a 38-storey 136 m (446 ft) skyscraper in the Bahnhofsviertel district of Frankfurt, Germany. It was built from 1999 to 2003.

The towers architecture is made up of two towers linked by a connecting central core. The north tower is 136 m (446 ft) with 38 storeys, and the south tower is 114 m (374 ft). The core is the building's full height. Together with its 49,000 m2 (530,000 sq ft) floor space, it is the 14th tallest building in the city. Its name is an intentional misspelling of the scientist Galileo's name; the extra l comes from the building's other namesake, the nearby park Gallusanlage. Along with the nearby Silberturm, it served as the corporate headquarters of Dresdner Bank since 2008. A year later, after the takeover of Dresdner Bank by Commerzbank, the new owner plans to use only the Gallileo.

Gallileo has a glass facade with 400 individual windows forming an approximately 22,000 m2 (240,000 sq ft) large transparent outer skin. In the glass floors were the American artist James Turrell, integrated lighting, which make the building at night from the inside out glowing. These are not architecturally visible. The undersides of the floor slabs serve as reflective surfaces.

Shops, a bar, and the English Theatre Frankfurt are located on the ground floor.

General information
Type	Commercial offices
Location	Gallusanlage 7 Frankfurt Hesse, Germany
Coordinates	50°06′34″N 08°40′16″E
Construction started	2000
Completed	2003
Cost	US$180 million
Height
Roof	136 m (446 ft)
Technical details
Floor count	38 3 below ground
Floor area	49,000 m2 (530,000 sq ft)
Lifts/elevators	14
Design and construction
Owner	Dresdner Bank AG
Architect	Novotny Mähner Assoziierte
Main contractor	Bilfinger Berger SE
References
[1][2][3]

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See also

List of tallest buildings in Frankfurt
List of tallest buildings in Germany

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References

[1]^ Gallileo at Emporis
[2]^ Gallileo at SkyscraperPage
[3]^ Gallileo at Structurae

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http://en.wikipedia.org/wiki/Gallileo

Frankfurt office

Turkey: Gold export story reaches an end

Turkey: Gold export story reaches an end

At USD 7.3 bn, January’s foreign trade deficit was slightly above the market expectations (USD 7.0bn). As a result, 12-month cumulative trade deficit increased to USD 84.2bn in January from USD 84.0bn in December. Similarly, 12-month cumulative non-energy trade deficit increased to USD 31.9bn from USD 31.6bn. On a seasonally adjusted basis, exports and imports increased by 2% m/m and 9% m/m, respectively. Imports excluding gold and energy rose by 6% m/m on a seasonally adjusted basis, according to our calculations. On a 3m/3m basis, imports increased for the first time since August 2012, signalling that the monetary easing of the CBRT has finally reflected on import figures. Based on broad economic categories, imports of consumption goods increased 7.6% y/y, intermediate goods by 3.4% y/y, and capital goods by 8.2% y/y.

'Big Box' Outlook (JLL)

'Big Box' Outlook

The ‘Big box’ outlook covers warehouse and distribution facilities of at least 250,000 square feet located around the United States.

View report

Global Office Rent Cycle MarketView and Charts (Q4 2012)

Global Office Rent Cycle MarketView and Charts (Q4 2012)

Prime Rent Performance Divergent in Q4 2012

Executive Summary

(Read More: Global Office Rent Cycle MarketView and Charts (Q4 2012))

▶ Occupier demand remains circumspect and still broadly focused on prime space.