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RIYADH / Bloomberg JLL, the world’s leading real estate investment and advisory firm, has released its inaugural ‘2016 Top Trends for KSA Real Estate’. Modelled on similar JLL reports in other markets, the KSA Top Trends will be an annual report which will assess and forecast the major trends which are likely to impact and shape the KSA real estate ...

NEW YORK / Bloomberg The total cost of the World Trade Center rebuilding project will come in at the lower end of the $14.8 billion to $15.8 billion range projected four years ago, a Port Authority of New York and New Jersey official said. The cost estimate was contained in a 2012 report commissioned by the agency’s board as it ...

London / Bloomberg China’s Ministry of Finance said it will cut taxes on home transactions as it steps up support for the property market, after the central government eased mortgage down payment requirements to the lowest level ever earlier this month. China will set the deed tax at 1.5 percent of the home’s value for first residences bigger than 90 ...

Bloomberg Yandex NV agreed to buy its Moscow headquarters after surging rent payments that are linked to the U.S. dollar curbed profits as the local currency lost half of its value in the last two years. The company, which operates Russia’s biggest search engine, will finance the purchase of seven buildings from Cyprus-based Krasnaya Roza 1875 Ltd. by issuing 12.9 ...

Rio De Janeiro / Bloomberg Some of the luxury apartments built in anticipation of the 2016 summer Olympic Games are at risk of being left unsold as the housing market deteriorates in Rio de Janeiro, Mayor Eduardo Paes said in an interview. Developers will have a hard time selling units at the 31- building Olympic Village, known as Ilha Pura, ...

RELAXNEWS There was a distinct whiff of Americana on the catwalks of New York at the start of the week, as the Autumn / Winter 2016 ready-to-wear collections offered throwbacks to a simpler time. Tommy Hilfiger led the way with an ocean liner-themed collection that riffed on the traditional glamour of transatlantic travel. Retro briefs, sailor dresses and navy-style embellishments ...

RELAXNEWS Chanel has revealed a new version of its legendary J12 watch, originally launched in the year 2000, just in time for the Baselworld watch and jewelry show, running March 17-24 in Basel, Switzerland. The new J12 has a mirrored dial for a design that plays with light and reflections with sophisticated style. Chanel regularly adds to its J12 collection ...

RELAXNEWS It will be handbags at dawn for luxury auction house Christie’s France, when it launches its third annual luxury arm candy sale. ‘Handbags & Accessories’, set to take place on March 5 in Paris, will feature rare and special edition pieces from fashion houses including Hermès, Chanel, Dior and Louis Vuitton, with price estimates ranging from €2,000 to €70,000. ...

RELAXNEWS Fashion designer Michael Kors is offering customers a series of fresh-off-the-runway pieces immediately following his Fall 2016 runway show. Titled ‘Ready-to-Wear, Ready to Go,’ the edit includes clothes, shoes and handbags that clients will be available to purchase online and at the brand’s Madison Avenue store straight after their runway debut. “Our customer doesn’t think in terms of seasons, ...

RITIKA SHARMA / Emirates Business Considering the ever-increasing rush of travellers between India’s commercial capital Mumbai and Dubai, Jet Airways — which works in alliance with UAE’s national carrier Etihad Airways — has announced increased frequency of flights between the two cities from March 1. A new flight from Indian capital Delhi is also in the offing, making Mumbai-Dubai and ...