Property investors would face tough economic condition in South Africa due to the economic resession the country is facing. Finance Minister Pravin Gordhan is attempting to overcome this by increasing tax, that could slow down property sales in the country.
Tags: Economy
UAE’s Beco Capital Projects Tech Startups to Boom in The Region Amid Low Oil Prices
UAE venture capital firm BECO Capital expects that the tech sector will spur amid the slowdown in the economy due to low oil prices. Especially in the region, the firm projects that tech startups will face a significant growth as the government seek to achieve diversification to non-oil sectors.
Nicola Sturgeon Acknowledges Scotland's Economy Challenges, Said The Country Remains Fundamentally Strong After £15 Billion Deficit
Scottish First Prime Minister Nicola Sturgeon said in an interview that the country’s economy remains strong even amid challenges that she acknowledges. She expects that the huge deficit would be manageable after separation.
South Africa's Manufacturing and Mining Output Contract, Slow Down Economy Even More
South Africa's output in the manufacturing and mining sector might not be a good sign to start the year right. More mining sites stopped their operations creating illegal mining. The president should do something as investors are skeptical on how he handles the country's economic situation.
Chinese Venture Capital Firm Pando Group is Investing $2 Million in Israeli Fintech Hub The Floor
Israeli fintech hub initiative is receiving $2 million investments from Chinese venture capital firm Pando Group. The partnership is expected to build the bridge between Israel companies and the Asian markets.
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Bikes maker Palo Alto Bicycles, which Silicon Valley startups have often contacted to purchase high-end custom bikes for their employees, have confirmed a decline in sales. The declining sales are likely to be an indicator that startups are being more careful in spending money as investors got tighter in demanding profitability.
Beating market predictions, industrial production in Japan rose during January 2016. On the other side, retail sales eased 1.1 percent. The mixed situation in the world's third largest economy is signaling ongoing uncertainty about GDP growth rate.
Singapore's GDP has increased 1.8 % in the fourth quater in 2015. For the full year of 2015, it has increased 2%.
UK's GDP growth rate was remained unchanged at 0.5 percent for the fourth quarter of 2015. Services sector contributed the most to the GDP growth. Meanwhile, International Monetary Fund (IMF) has cautioned about weakening global growth.
China’s leading developer and operator of integrated casinos in Macau, Sands China, anticipate the casino industry recovery after a prolonged decline in revenues. The company is also preparing to finish its newest project, The Parisian Macao, to be launched later this year.
South Africa Tourism Minister Derek Hanekom said in the Meeting Africa 2016 forum that the boost in tourism could benefit the local economy. Tourism has been increasing phenomenally in recent years as the government aims to invest more in the sector.
The newly-elected managing director of the IMF, Christine Lagarde, spoke at the Global Women’s Forum 2016 regarding the global economy, especially in the wake of the China economic slowdown. Despite the prolonged slowdown, the IMF foresee that China’s lower growth was deliberate and healthy.
China has unveiled a series of new initiatives to push its economy growth rate. The government is keen on meeting the increasing demand in small and medium-sized homes. Another set of new rules for accelerating reforms at state-owned enterprises will be announced soon.
Turkish government officials acknowledged that the influx of Syrian refugees to the country has contributed in boosting the economy. Turkey’s economic growth has seen an unexpected growth in the third quarter, even as some economic aspects suffered and strained from the flow of migrants.
