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 Indonesian Real Estate Developers Association (REI) has called for foreign property ownership rules to be relaxed. Some members are asking for a change to the rules so that foreigners can buy leasehold titles on apartments and houses for a minimum of 75 years. Others are requesting foreigners be allowed to own and purchase property in the country outright.   Current land ownership laws stem from the...

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...

The Transportation Ministry of the Netherlands has issued a construction permit for a new wind turbine farm in the North Sea. This will be the largest such facility located in Dutch waters so far, and is part of the country’s plan to generate 6,000 megawatts of electricity from offshore windmills by 2020.   The new wind farm is being developed by Ireland’s Airtricity Ltd. It is planned to generate 260...