VIENNA / Bloomberg Raiffeisen Bank International AG can afford to keep its Polish unit rather than sell it at a fire-sale price because the Austrian lender is already “within striking distance” of its target to boost capital ratios, according to its chief executive officer. Eastern Europe’s second-biggest lender still wants to dispose of the business but may not succeed in ...

Bloomberg Singapore developers sold the lowest number of new homes in 14 months, as mortgage curbs cooled demand in Asia’s second-most expensive housing market. Developers sold 301 units in February, down 7 percent from the revised 323 units in January, according to data released Tuesday by the Urban Redevelopment Authority. While annual sales rose just under 2 percent to 7,440 ...

RIYADH / EMIRATES BUSINESS With a clear strategy and vision, Naif Al-Rajhi Investment (NRI) is keen to work in line with the preset objectives of the Council of Economic Affairs and Development, and along with the changes that indicate broad opportunities for growth in the real estate sector. Ramla Real Estate Development Company, owned by Naif Al Rajhi Investment , ...

Bloomberg A soaring real estate market in Vancouver helped push the national average home price in Canada above the half-million dollar mark for first time in February, stoking concern that risks are becoming lopsided. Average resale prices jumped 16 percent in February from a year earlier to C$503,057 ($376,880), the Canadian Real Estate Association said Tuesday from Ottawa, as prices ...

AFP Zebra and antelope look on as clouds of white steam twist into the air at Hell’s Gate, where Kenya’s dream of providing cheap, renewable electricity is becoming a reality. Just over a third of the 45 million people who live in Kenya have electricity, and power cuts are frequent across the network, even in the capital Nairobi. But Africa’s ...

DPA A new breed of farmer is appearing in Singapore. They are using high-tech and high-yield methods to transform their work from back-breaking labour into lucrative businesses. From running indoor vertical vegetable farms that grow crops in stacked layers, to raising fitter fish that are robust against aquatic diseases, farmers here are finding ways to overcome the limitations of traditional ...

WAM Despite the falling oil price and geopolitical instability, the states of the Gulf Cooperation Council (GCC) remain an attractive investment destination for high net-worth individuals (HNWIs), a report said, adding that 76 per cent prefer to keep their assets close to home. However, there is a clear element of caution lingering amongst investors, according to the 2016 GCC Wealth ...

Emirates Business Shams 1 Concentrated Solar Power (CSP) plant has marked its three successful years of operation. The plant, which occupies 2.5 square kilometres and has a power generating capacity of 100 megawatts, is the first of its kind in the Middle East and North Africa region. Shams 1, which takes its name from the Arabic word for ‘sun’, is ...

Dubai / Emirates Business Dubai Electricity and Water Authority, DEWA, has launched its ‘Shine a light on Climate Action’ campaign, to raise awareness on the dangers of the increasing effects of climate change. The campaign was launched by DEWA in preparation for Earth Hour 2016, and supports the Green Economy for Sustainable Development Initiative, launched by Vice President and Prime ...

Dubai / Emirates Business The Middle East’s leading finance comparison website, compareit4me.com, has launched the region’s first car insurance comparison portal, giving car owners in the UAE a chance to save thousands of dirhams on their insurance. The portal allows users to get instant prices from online leading insurers. Better yet, for the first time in the UAE, users have ...