There is an important, but quiet debate in the economics profession about what leads to big recessions: wealth or debt. Almost everyone agrees, at this point, that the Great Recession of 2007-09 was caused by the financial system. But that leaves the question of what, exactly, happens in a financial system that leads an economy to crash. Formal economic ...

  Bloomberg Qatar Investment Authority, the sovereign wealth fund of the Middle Eastern country, agreed to buy BlackRock Inc.’s Asia Square Tower 1 for S$3.4 billion ($2.5 billion) in the biggest office transaction in Singapore. Qatar will purchase the office tower in the central business district in the largest single-tower sale in the region, according to a joint statement from ...

  DUBAI / Reuters Saudi Real Estate Co has agreed with U.S. firm Starwood Hotels and Resorts to build two hotels next to a district of Riyadh which the government plans to develop into an international business zone. Starwood will manage a five-star hotel under its Westin brand and a four-star hotel under its Element brand, Saudi Real Estate, which ...