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IT is both saddening and depressing to note the International Monetary Fund's (IMF) admission that it had erred in its handling of the bailout of the Greek economy (StarBizWeek, June 8, 2013). The results of its mishandling is that incomes have plunged by about a third since the debt crisis erupted in 2009, the unemployment rate is at 27% and nearly 60% of youths are unemployed. Surely, one would have thought that the well-schooled officials, bureaucrats and research experts at the IMF would have much more intelligence than to suggest and insist on such obviously ill-thought-out recommendations and proposals. Who takes responsibility for such disastrous consequences pursuant to the IMF's intervention?
I RECENTLY went to a SOHO launch where the developer offered a 10% rebate and DIBS (developers’ interest-bearing scheme) package. With regards to the rebate, 10% of the selling price will be waived provided the sale and purchase agreement (SPA) is signed within a certain period.
REVIEW: After partying for some four weeks, it is expected that the FTSE Bursa Malaysia KL Composite Index (FBM KLCI) will correct and absorb all that frenetic buying and finally conform to the regional markets’ profit-taking phase. As of Friday, markets had started to pick up on good economic data from the United States.
TOKYO: Japan's cabinet rubber-stamped a set of measures on Friday to boost economic growth that so far have failed to impress markets and made Prime Minister Shinzo Abe promise to take more steps after next month's upper house elections.
NEW YORK: Stocks rallied on Thursday after three days of losses as stronger-than-expected economic data helped reassure investors concerned about the expected winding down of the Federal Reserve's economic stimulus.
KUALA LUMPUR: Mah Sing Group Bhd expects minimum impact on property sales to foreigners if the proposed higher tax rates are imposed on foreign property owners in Johor.