On top of efforts earlier in the week by the EU finance ministers additional efforts were taken to avert a worsening of the credit crunch. Central banks in Europe and the US cut interest rates, and the British government announced a £500 billion rescue package for banks.   As part of the measures taken by the government, Britain pledged £50 billion to buy shares in major banks, while also setting up...

The plans to expand the largest budget airline hub in the UK were recently approved by the government. At the same time, the major carriers who use the airport threatened to move flights away from the Essex airport if they are forced to pay for the expansion through increased user fees.   Ryanair and easyJet operate the most flights out of the airport and are warning that the expansion could mean less,...

13/10/08 London- An auction of prime Florida property is taking place on Saturday 8 November at 3PM UK time. Unlike other property auctions this one is taking place online and is set to save bidders thousands in travel expenses and in the price they pay for a home.   There are currently over 18 properties that will be auctioned off with original asking prices from the low $600,000s to $2.5 million....

The worldwide financial crisis is expected to put a serious damper on growth in 2009, according the International Monetary Fund (IMF). Managing Director Dominique Strauss-Kahn said recently that growth for 2009 will be virtually nonexistent across the globe, with major markets looking to contract. He indicated that emerging nations will take a hit economically, but that countries such as Brazil will in...

The government of Spain has approved the creation of a €30 billion fund to buy mortgage debt from banks in a bid to help stabilize the industry and keep credit flowing. The fund could be extended to €50 billion if necessary, according to the government.   Deputy Prime Minister Maria Teresa Fernandez de la Vega said that “This is a way to re-establish the normal functioning of our financial system, a...

The credit crunch has brought out some outstanding travel deals to the Caribbean. those interested in buying property in the Caribbean or just seeing some of the beautiful sites of these islands, this could be the best great time to go. You may also benefit from cheaper air fares. better hotel deals and smaller crowds.   A search on the internet reveals that there are many travel deals and packages that...

Local councils across Scotland and the Scottish Government are more committed to environmentally responsible policies than ever before. The Sustainable Scotland Network (SSN) is a group that works with development officers and advocates from local authorities across Scotland. The group’s aims include promoting sustainable development, responding to the threat of climate change, ensuring that procurement...

Zaya, the UAE based real estate development company, recently earned the title of the Most Luxurous Project in the World for its Nurai Island development. The Arabic edition of Newsweek magazine announced the award as part of its list of Top 10 companies that changed the face of real estate development.   According to a panel of expert judges, Zaya earned the top position in Newsweek’s listing as it...

As much of Europe and the United States wonder what will come next in the tumultuous financial and real estate markets, Turkey is providing a bit of calm in a sea of unrest. House prices and sales have fallen in the US, England, Spain and other countries, but Turkey is looking for continued growth in the years ahead.   Deutsche Bank predicts 5-6% economic growth per year over the next 10-15 years, so the...

All 27 members of the European Union approved measures on Tuesday, October 7 to combat the banking crisis that is threatening to overtake the continent. The finance ministers agreed to raise guarantees for bank deposits, laid out common principles for rescuing struggling banks and temporarily relaxed accounting rules to help banks avoid fire sales.   "We will be ready to respond as the situation...