The new Outrigger Serenity Terraces Resort in Phuket is set to open on April 2, 2009. This will be the first property in Outrigger Enterprises Group’s planned expansion into Asia. The property is located in the Chalong Bay area and consists of 78 luxury one and two bedroom apartments.   The resort will have seven spectacular penthouses, with each one having a rooftop terrace and sun deck, and some will...

The European Commission has forecast that the economy in Europe will shrink by 1.9 percent in 2009 and grow by 0.4 percent in 2010. The commission said that it hopes it will be possible “to create the conditions for a gradual recovery in the second part of 2009” for the eurozone economy.   Economy Commissioner Joaquin Almunia said that achieving such conditions will be achieved with “measures to...

French President Nicolas Sarkozy is set to present a new stimulus plan for the country. In response to the worldwide economic situation and predictions of a recession for the eurozone in 2009, the government of France is proposing a 20 billion euro package. This new plan will target the country’s car industry, housing and household spending.   The French car industry has been hit hard by the economic...

A new luxury retail, residential and business center is being developed in New Cairo City and is named Cairo Festival City. This new development is set to have six districts and will be set on 730 acres of land. It is envisioned as the retail and leisure center for New Cairo City.   The US$9 billion development will have at is heart the Festival Centre, which will be an indoor and outdoor shopping and...

The island of Ireland in Dubai’s spectacular development, The World, is a five star luxury hotel resort with luxury residences for the ideal place for a holiday retreat. Those lucky enough to have their own villa on the island will be able to enjoy the island of Ireland in all its glory.   The hotel will have 225,000 square feet of space and there will be 119 villas with 1-4 bedrooms. The homes and...

The British government is ready to proceed with a second bail-out of the nation’s ailing banks. Prime Minister Gordon Brown announced that he hopes the new moves will make it easier for businesses and households to obtain credit.   Mr. Brown said: “We know that the essential problem that has been held back by what has been happening internationally over the last few months is the resumption of lending...

The European Central Bank cut interest rates to 2 percent from 2.5 percent in a move that was widely expected. This cut brings the eurozone borrowing costs to a three year low after four consecutive cuts.   Other major banks, including the US Federal Reserve and the Bank of England, have also cut rates in recent weeks to near all-time lows. Both banks have suggested their rates could go to zero, as the...

In its efforts to attract highly qualified foreign nationals to Taiwan, the Executive Yuan has simplified the visa process. Beginning on January 1 of 2009, three visas are now being issued to qualified foreigners who want to visit or reside in Taiwan: an academic and commercial travel card, an employment pass, and a permanent residency card.   The employment pass incorporates a visa, work permit, alien...

The experts in house price predictions give their views on the British housing market , for buyers It’s hard to know what to expect in these uncertain times in the housing market. Mortgage availability, mortgage cost, supply and demand issues… there are so many factors involved, it’s almost impossible to guess where house prices will be a year from now. Nonetheless, many people are giving it a...

The Metro Orlando, Florida area had the seventh highest rate of home foreclosures in the United States in 2008 with one in every 18 household receiving a formal default notice from a lender. In the four-county metro area, consisting of Orange, Seminole, Osceola and LakeCounties, that means that 46,843 properties had foreclosure filings taken against them. That’s three times the rate in 2007 and 5.5...