Triumphant Turkish President Recep Tayyip Erdogan seems to consolidate his full authority to weed out those behind the botched coup in Turkey. To accomplish the job, the authorities imposed a three-month state emergency to protect the democracy amid concerns from western allies who call for fair trials. Taking into account these concerns, the authorities were quick to assure them …

  Franz-Stefan Gady SPECIAL TO EMIRATES BUSINESS Indian defense firms could benefit from a recent $38.8 billion Australian-French submarine deal by becoming subcontractors for Australia’s so-called SEA 1000 Future Submarine Program, an Australian official told The Economic Times on July 20. “India and Australia as decided during PM Narendra Modi’s visit to Australia in 2014 have ventured into the areas …

  Aurelia George Mulgan SPECIAL TO EMIRATES BUSINESS There are both modern and historical parallels to be drawn in the wake of China’s strident rejection of the Hague Tribunal’s ruling on its territorial claims in the South China Sea. In its relentless strategy of using power to expand China’s territory in the South China Sea, the Xi administration has been …

  Bloomberg Home prices have hit record highs in some major US metropolitan areas, and house-flippers are behaving like it’s 2005: It’s no wonder people are chattering about another housing bubble. But residential real estate isn’t in a speculative bubble, industry observers contend. Instead, a low inventory of available homes is driving prices higher — prices, however, will eventually recede …

Bloomberg Real estate has been the obvious sell in the wake of Britain’s vote to leave the European Union. Publicly traded real estate developers are trading at a steep discount to value of their portfolios, reflecting fears of a downturn in office demand, while commercial property funds are rushing to sell assets. Even London home builders are offering would-be buyers …

  AFP China’s property and entertainment giant Wanda has agreed to sell a historic Madrid skyscraper, a source close to negotiations said, after feuding with city authorities over plans to renovate the landmark. Wanda acquired the 25-storey Edificio Espana, completed in the 1950s under the dictatorship of General Francisco Franco, in June 2014 for 265 million euros (now $292 million) …

  Bloomberg A group led by US real estate investor Hines plans to sell a Dublin shopping mall and adjacent land for about 600 million euros ($660 million), three people with knowledge of the matter said. The venture, including the Grosvenor Group Ltd. and HSBC Alternative Investments, hired Eastdil Secured LLC to broker the sale of Liffey Valley Shopping Centre …

  Bloomberg Blackstone Group LP expects to take its Invitation Homes unit public in the first half of next year, capitalising on a rally in US single-family rental landlords to list the biggest company in the industry, according to two people familiar with the matter. The size and exact timing of an initial public offering haven’t been decided, said the …

  Bloomberg BGC Partners Inc., a brokerage serving financial and real estate markets, agreed to acquire Sunrise Brokers Group to expand its equity-derivatives business. Sunrise Brokers, founded in 1991, reported $90 million of consolidated revenue for last year, BGC said in a statement, without disclosing the terms of the deal. “This transaction enables us to further expand our equity derivatives …

  Bloomberg Legal & General Group Plc cut the discount investors must accept to withdraw cash from its 2.5 billion-pound ($3.3 billion) UK property fund after applications for redemptions slowed. Investors spooked by Britain’s vote to leave the European Union now face a loss of 10 percent, compared with a 15 percent charge imposed after redemption requests surged in the …