Bloomberg Canadian consumer leverage remained near a record in the first quarter as rising mortgage liabilities offset a gain in disposable income. Credit-market debt including mortgages was 165.3 percent of after-tax income, slightly lower than the 165.4 percent reading in the fourth quarter, Statistics Canada said Tuesday in Ottawa. Persistent strength in the Toronto and Vancouver real estate markets ...

Bloomberg China’s use of administrative measures to control property prices can have painful repercussions for its swelling ranks of homeowners. Just ask Shanghai resident Yi Miaowen. Yi had to cut the price of the apartment he was selling by at least 8 percent after local authorities in March restricted purchases by non-residents, causing two prospective buyers to pull out. “I ...

  DUBAI / Reuters Saudi Arabia’s cabinet approved a tax on undeveloped urban land and rules allowing foreign investors to own 100 percent of retail and wholesale businesses, the official SPA news agency said. The 2.5 percent annual tax on the value of undeveloped land designated for residential or commercial use will be applied in stages to owners of plots ...