Business Topics

NYC condo prices go through the roof

Feb 25, 2013

NYC condo prices go through the roof

by Oshrat Carmiel

Michael Stern was prepared for a gradual real estate rebound after buying a New York office tower in December 2009, with plans to convert it to condominiums following a housing plunge that sent prices down 31 percent. Now, long before the final floor tile ...

Feb 25, 2013

President admits to economic woes

Iranian President Mahmoud Ahmadinejad made a rare acknowledgment Saturday night of the economic challenges his country is facing. “This was a very difficult year for our economy,” Ahmadinejad said during a live television interview in which he outlined his government’s budget plan for the ...

Feb 23, 2013

IMF says concerns on yen's fall 'overstated'

Recent concerns about competitive currency devaluations are “overstated,” according to the International Monetary Fund. The yen’s recent sharp fall has sparked concerns about competitive devaluations, the IMF said Thursday in a report on global prospects and policy challenges. “Taking a broader perspective, however, such ...

Muto, Iwata likely on shortlist for BOJ chief

Feb 21, 2013

Muto, Iwata likely on shortlist for BOJ chief

The Liberal Democratic Party-led government hopes to hold discussions with the opposition on picking either Toshiro Muto or Kazumasa Iwata, both former Bank of Japan deputy governors, as the next head of the central bank, sources said. Prime Minister Shinzo Abe, who is set ...

Feb 21, 2013

Sent abroad, weaker yen propels growth

by Neal Armstrong

Japanese are pouring money into investment trusts at the fastest pace in almost two years, supporting government officials’ assertion to their Group of 20 peers that policies weakening the yen will boost global growth. Data from the Japanese Investment Trusts Association show that net ...

Feb 21, 2013

Married women's earnings hit high

The average monthly income of married women with working husbands stood at ¥59,177 in 2012, up ¥6,082 from the previous year and the highest level since officials started compiling comparable records in 1963. The data show a rise in the number of married women ...

BOJ members troubled by 2% target: minutes

Feb 20, 2013

BOJ members troubled by 2% target: minutes

Some Bank of Japan policymakers pointed to the difficulty of achieving 2 percent inflation at their Jan. 21-22 meeting when the central bank decided to introduce the target, according to the minutes released Tuesday. Other Policy Board members, however, said it was “meaningful” to ...

Germany to escape recession, grow again

Feb 20, 2013

Germany to escape recession, grow again

Germany, Europe’s biggest economy, will avoid the recession that has engulfed many of its partners in the region and return to growth in the first quarter of 2013, the Bundesbank said Monday. “As it currently looks, a plus in economic output can be expected ...

Feb 20, 2013

No BOJ funds to buy foreign bonds: Aso

Finance Minister Taro Aso said Tuesday the government has no intention of buying foreign bonds through a fund with the Bank of Japan, comments that caused the yen to strengthen. “We don’t intend to buy foreign bonds,” Aso told reporters in Tokyo, when asked ...

Feb 17, 2013

Aso tries to calm German concerns

Finance Minister Taro Aso and his German counterpart, Wolfgang Schaeuble, have agreed that the two countries will continue to closely discuss economic and financial matters, a source said. During a 20-minute conversation Friday on the sidelines of a two-day meeting of Group of 20 ...