Stock markets have retreated again over worries of further US interest rate rises after the Federal Reserve defied Donald Trump to increase rates for the fourth time this year.

The EU has confirmed it is “actively investigating” a potential breach of its diplomatic communications network, following reports that secret cables had been stolen by hackers.

The Bank of England has welcomed a “crucial and positive” move by the EU to help keep a key part of the financial system functioning in the event of a “no-deal” Brexit.

A handful of banks will be forced to write multimillion pound cheques to buy shares in the construction giant Kier Group after some of its biggest investors snubbed the chance to take part in a £250m fundraising.

GlaxoSmithKline (GSK) is to merge its consumer healthcare unit with that of rival Pfizer, to create a new market leader with almost £10bn in annual sales.

 

Santander has been fined more than £30m for “serious failings” in processing the accounts of dead customers, the Financial Conduct Authority (FCA) says.

REAL ESTATE TOP STORIES

CBRE reports increased foreign investment in Vietnam’s real estate

CBRE-reports-increased-foreign-investment-in-Vietnams-real-estate

The country, home to Asia’s second largest retail market in 2018, has witnessed increasing M&A transactions championed by deals in property development sites, hotels, apartments and offices

Real estate developers from Singapore, Japan and South Korea have favoured development sites in downtown areas and within close proximity to metro line stations.

Prime retail and office space in Hanoi and Ho Chi Minh City remained much sought after due to the increasing presence of international firms. The prices of Grade A offices rose YoY to $43 per sq m per month in Q2 2018, from $35 sq m per month in Q2 2016.

In the serviced apartment and condominium markets, investors from Singapore, Hong Kong and Taiwan have shown a lot of enthusiasm. They accounted for 75% of the total buyers in the buy-to-let market.

Foreign buyers accounted for 50% of all successful residential deals, it means that foreign investors are not merely entering Vietnam to set up operations but they are committed to keeping their money here, according to Vikram Kohli, regional managing director Southeast Asia, CBRE. This could be an explanation for the 15% rise in prime residential prices in Ho Chi Minh City over the past two years.

With an economy among the world’s fastest growing GDP rates, Vietnam is listed one of the most dynamic emerging markets globally with an expanding middle class and rapid urbanisation supported by a young, growing, and educated population, explained CBRE.

Especially, with GDP growth rate projected at 6.8% in 2018 by the World Bank, the country has fueled the appetites of global investors looking to make their mark in the burgeoning domestic real estate market.

Last but not least, efforts to ease restrictions on foreign holding of public companies allow the composition of the economic landscape to diversify and encourage foreign ownership of commercial assets.

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