August 2014 International Economic Fundamentals

Ally

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#2
Australia vacancy rates put freeze on rents





The question of when to increase rents is a tough one that affects
Australia`s 1.3 million landlords and millions more tenants, and experts are
divided about the answer.






New data from SQM Research shows there were 69,258 vacancies nationally in
June, up from 65,075 in May, and the current vacancy rate sits at 2.3 per cent.







SQM Research managing director Louis Christopher says the rise reflects an
increase in completed dwellings, more renters becoming first home buyers, and
more people occupying each dwelling. Adelaide Brisbane Canberra Darwin Hobart
Melbourne Perth Sydney





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Ally

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#3
Buying properties abroad a two-edged sword





While such purchases may seem cheap and easy, unfamiliar rules and markets may pose risks





With risks rising in the domestic real estate market, investors are switching attention to overseas markets. Among the difficulties investors face in the domestic market are tighter credit policies, stricter scrutiny and oversupply of housing units. In contrast, they find the global realty market brighter because loans are more forthcoming and the yuan has been appreciating.





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Ally

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#4
German jobless retail data point to strong domestic economy





(Reuters) - German unemployment dropped more than expected in July and retail sales climbed in June, data showed on Thursday, spelling good news for private consumption which is expected to drive growth in Europe's largest economy this year.





Seasonally adjusted data from the Labour Office showed the number of people out of work decreased by 12,000 to 2.898 million. The consensus forecast in a Reuters poll had been for a drop of 5,000.





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Ally

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#5
Investors targeting overseas properties





Chinese investors stepped up their investment in overseas commercial and residential markets in the first half of 2014, with London the most popular location, real estate services firm Jones Lang LaSalle IP Inc said on Wednesday.





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Ally

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#6
London home owners make most of boom as it spreads outside capital





Savills` chief executive, Jeremy Helsby, said that rising numbers of people
are capitalising on the ongoing boom and moving out of the capital into Surrey
and Kent, and as far out as Cambridge and Oxford. `People are selling up in
London ` they`ve had a very strong rise over the last two to three years `
especially families with kids who decide they can`t get the right schools and
want more space.`





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Ally

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#7
How Russian import ban will impact Canadians





Canada`s pork industry, which accounts for about half of the country`s
overall agricultural exports to Russia, will be hurt most by the food ban. In
2013, Canada shipped $260 million worth of (mostly frozen) pork to Russia, but
that`s only a small fraction of the $3.2 billion in pork exports that Canada
sent to 120 countries worldwide, according to Jim Laws, executive director of
the Canadian Meat Council. `We have many other markets we can sell to ` United
States, Japan, China, Australia, South Korea, Indonesia, Mexico,` Laws said.
With shipments taking up to three weeks to travel from Montreal to St.
Petersburg, Laws anticipates managing the pork products` return to Canada or
diversion to other countries will be challenging. `We might have upwards of
1,000 containers on ships heading to Russia right now,` he said. But since the
pork shipped to Russia is frozen, it has a long shelf life of six months, he
said.





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Ally

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#8
The world's most influential cities





In the past century, the greatest global cities were generally the largest and centers of the world`s great empires: London, Paris, New York and Tokyo. Today size is not so important: Of the world`s 10 most populous cities, only Tokyo, New York and Beijing are in the top 10 of our ranking of the world`s most important cities. Instead, what matters today is influence.





To rank the world`s global cities, I worked with urban geographer Ali Modarres, former Accenture analyst Aaron Renn and demographer Wendell Cox. We have attempted to go beyond some of the standard methods of evaluating the global importance of cities, which include assessing the concentration of support services available for multinationals, such as financial and accounting firms, or the size of the overall economy. Efficiency and access to capital and information, we believe, is more critical to being an important global city than number of jobs, and regional GDP is a false measure, since it doesn`t reflect whether the source is domestic or global economic activity.





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