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U.N. urges measures to avert urban housing crunch

UNITED NATIONS (Reuters) - Two billion more people will be moving into the world's already overcrowded cities over the next 25 years, requiring 4,000 new housing units per hour between now and 2030 to accommodate them, a U.N. agency said on Monday.

Jet board okays Air Sahara buy

India's Jet Airways Ltd board has approved the acquisition of Air Sahara for US$500mil cash, tightening its hold at the top of the country's domestic airline industry.

Saudi company lists largest sukuk in Labuan

Dar Al-Arkan International Sukuk Co yesterday listed its US$1bil Sukuk Al-Ijara on the Labuan International Financial Exchange (LFX) to finance housing projects in Saudi Arabia.

Financial sector to play vital role in 2020 economic target

The financial sector has an important role in helping Malaysia develop its economy by 2020 via the channelling of productivity and driving endogenous growth in other economic sectors, Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz said.

LBS issues RM135mil sukuk to finance housing projects

PETALING JAYA: Property developer LBS Bina Group Bhd is issuing RM135mil sukuk to part-finance three projects in Malaysia, group managing director Datuk Lim Hock San said.

Chavez warns he could nationalize banks

CARACAS, Venezuela: Venezuelan President Hugo Chavez on Thursday warned he would be willing to nationalize any banks that refuse to finance housing construction projects promoted by his government.

Your 10 questions with Clifford Herbert

Ex Treasury sec-gen and alternate governor of the World Bank TAN SRI CLIFFORD HERBERT answers Your 10 Questions.

Libya PM names new cabinet after protests

TRIPOLI (Reuters) - Libya's prime minister named 10 new ministers on Sunday to run the country for the next six months, days after he was forced to withdraw his previous cabinet in the face of protests.

Cagamas completes sale of RM630m debt

PETALING JAYA: Cagamas Bhd has completed the sale of RM630mil multi-tenured conventional medium term notes (MTN), where proceeds from the issuance will be used to finance housing loans from the financial system.

Harsh reality hits home

One clear indication a political party is no longer needed is when those in power refuse to help resolve the former’s woes.