Cal Wong SPECIAL TO EMIRATES BUSINESS Amid the slowdown in the Hong Kong property market, Hong Kong’s overall tax revenue has fallen for the first time in six years. In total, the taxman collected HK$291.3 billion (US$37.5 billion), down HK$10.6 billion from the year before. Stamp duty takings on property transactions have plunged 16 percent in the 2015-16 fiscal …

  On Tuesday night, the Australian federal government delivered its budget for the forthcoming Australian financial year (1 July 2016 – 20 June 2017). The budget contained no dramatic announcements or big concepts. With an election to be held on July 2, and current polls indicating an erosion of its favorability, the conservative coalition government felt an inability to propose …

  The bookies and polls called it correctly. Londoners chose the son of Pakistani immigrants as their next mayor over the Eton-educated heir to a family fortune. Now it will be up to Mayor Sadiq Khan to fulfil his promise to address the greatest source of London’s growing inequality: the city’s housing crisis. London housing is both expensive and scarce. …