The United States hotel company Best Western International is planning to open six new properties in Indonesia in 2009 and at least one more in 2010, according to the company. Best Western plans to open a total of 14 new hotels across Asia this year as part of its vision of having 200 hotels in the region by the end of 2010. Currently, there are over 130 Best Western properties in Asia.   The Best Western...

3/03/09-This Thursday sees the monthly interest rate decisions from the European Central Bank (ECB) and Bank of England’s Monetary Policy Committee (MPC). Analysts are expecting the MPC to cut UK rates by 0.5%, to a new record low of 0.5%. Usually, a lower interest rate means a weaker currency – and therefore a worse exchange rate if you need to send money overseas. However, the ECB are also...

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Australia’s Housing Industry Association (HIA) recently released its National Outlook and the news was not pretty, but there are signs that things will improve in the coming year. Builders in Australia are expected to begin more new houses in the second half of 2009, resulting in an increase in Australia real estate sales, though that does follow a very poor year.   That National Outlook notes that...

German Chancellor Angela Merkel rejected the idea of a single EU bailout of Eastern European economies, which are being hit very hard by the current worldwide economic crisis. Germany has Europe’s largest economy and it has been under pressure to lead the way in helping eastern members of the EU.   Merkel is adamant that a one size fits all bailout is not the right approach: “Saying that the situation...

The Land Registry have issued new figures that show average British house prices falling by 0.8 per cent in January.The average house price is now £156,753, down almost £28,000 on January 2008. This represents an annual decrease of 15.1 per cent. In London the average price fell 14.1 per cent annually to £306,183. It is the seventeenth month in a row where the annual rate of change has fallen, in...

The Caribbean island of St. Lucia has become one of the hottest destinations in this part of the world, and with good reason. There are a number of new hotels and resorts on the island that offer a low-scale luxury that is very high on service. The island itself has plenty of amazing views and outdoor adventures, from the Piton mountains to the rain forest in the interior and the palm-fringed coves that...

Previously owned home sales in the US fell 5.3 percent in January after showing an increase in December, according to the National Association of Realtors. Existing home sales, which are the largest part of all home sales in the country, fell to an annualized rate of 4.49 million in January. That is the slowest pace in over a decade, and 8.6 percent lower than January, 2008.   The median home price also...

Ukraine has recently received a loan from the European Bank for Reconstruction and Development (EBRD) that will enable it purchase new rail cars and replace much of its older rolling stock. The aging fleet of cars has hampered the country’s economic growth, and it will also be a boon in tough economic times.   The State Administration for Railway Transport of Ukraine (UZ) intends to use the EBRD loan to...

Research from Knight Frank global property consultancy indicates that the value of English farmland increased by 16% last year (from £4129/acre to £4796/acre). The research from the companies farmland index shows that the decline in sterling meant that prices actually fell for many overseas buyers when converting from their local currency.   For example, as the graph below shows, anybody...