Dollar Slips on Gulf Speculation

Dubai: The dollar slipped to a record low against the euro on Tuesday as speculation mounted in international financial circles that the Gulf states are ready to either revalue their currencies or do away with their peg to the dollar and more bad news from the banking sector added to the downward pressure on the greenback. Gulf News
Read more at: http://archive.gulfnews.com/articles/07/11/21/10169135.html

UAE is the world’s most attractive expatriate destinations

According to a new global survey of expatriate hot spots by Mercer, The United Arab Emirates (UAE) has one of the world’s most attractive personal tax environments. Mercer’s Worldwide Individual Tax Comparator Report analysed the tax and benefits systems of32 countries, focusing on personal tax structures, average salaries and marital status. For single managers, the UAE is the most attractive tax environment according to percentage of net income available. The UAE ranks highly as it does not assess any income tax and the country’s social security contributions amount to only 5 percent of an employee’s gross salary. Russia, ranked 2, applies a flat tax of 13 percent across all income levels, while Hong Kong reaches rank 3, with taxes and social security contributions at 14.2 percent of gross base salary.Other important considerations for expatriate allowances are housing, private schooling and local cost of living adjustments, and there are additional complications around contributions to the home country pension plan. These factors can all contribute to the high cost of a global expatriate workforce, said the Mercer report.

Mumbai Airport Revamp

India's busiest airport currently handling up to 45 landings and takeoffs per hour is having a $2 billion overhaul. Reputed as the world's most congested, handling 26 million passengers this year alone. That number is set to reach around 40 million a year by 2013.

Other startling facts are:

• Delhi airport is undergoing $2 billion revamp for the 2010 Commonwealth Games.


• Bangalore, India's IT hub, will get a $228 million international airport by 2008.


• More than 30 non metro airports are to be modernised by March 2010 at a cost of $1.2 billion.


• India's airports handled 90.4 million passengers in 2006 compared with 68 million the previous year.


• Indian airlines plan to add 400 aircraft over the next five years to meet the boom in demand for air travel.


• Mumbai has a $60 billion plan to turn the city into a global financial hub in the next decade.

Brad Pitt and Angelina Jolie Buy an Island in Dubai

Brad Pitt and Angelina Jolie have bought Ethiopia off the coast of Dubai in Nakheel's 'The World' development, according to UAE-based web site Ahlanlive. The couple intend to use their home as an eco-development. No price tag was given for the island, which are reported to be fetching up to $50m.

Mukesh Ambani Builds Himself A New Home

The worlds richest man Mukesh Ambani estimated to be worth in the region of £30 billion, overtaking both Bill Gates and Carlos Slim in the worlds rich list ranks is having his new home built in the most exclusive Mumbai suburb.

Plans for the £500m property show 27 floors, a health club, 600 staff and parking spaces for 168 cars. It is said to be the most expensive private home on the planet. It will house himself, his wife and his mother.

Mr Ambani's Reliance Industries which spans oil, textiles and biochemicals and has annual revenues of $27bn, has seen rises of nearly 80 per cent this year on the Sensex.

Farzana Joins The Team

Farzana Kauser joins the Homes International Sales Team after passionately following the property markets for a few years. At the tender age of 24, she has already build up a small portfolio of investment properties, with a clear focus of expanding her holding over the forthcoming years.

Farzana is rapidly learning about the property hot spots, and has the vision for potential growth during the build period. She has become very well rehearsed on the India and UAE developments, together with the reasons why the forecasters are predicting such major increases.

Farzana has already aided many clients by using her language skills - English, Punjabi and Urdu.

She awaits your call.....

Beat The 10% Price Increase

The developers of the Mira Road - Mumbai apartments have just announced a 10% price increase.

Homes International will still honour all business at the pre-increased price until the close of business on the 24th November 2007.

With prices spiraling as fast as the Indian Stock Market - This makes a fantastic addition to any shrewd investors portfolio for true capital growth!

Over 400 apartments have been sold in the last 2 months - availability is very limited - so call now to register your purchase!

Land Prices Rocket!!!!!

The prices of land around the Mira Road area of Mumbai have more than tripled over the last 10 months! This is further set to soar as Hiranandani has just completed on the purchase of 200 acres in the region! With such a high profile premium developer moving to the area, all the big names in retail will shortly follow suit; another excuse for prices to elevate!

The growth for Mira Road is extending past what was imaginable. Now that the last designated residential building land in Mumbai has been snapped up. Supply and demand will send prices into overdrive mode!

UAE Exchange Rate - Peaking At All Time High

Great news for all you investors!!!

The exchange rate for £1 to AED is currently at 7.7, saving thousands on those property purchases. Buy now and save before the currency rate becomes stronger!

Interest rates for UK - Held! November 2007

The Bank of England has just announced that it is to hold rates for November.

Rates have peaked but the Bank appears to be taking a 'wait and see' approach as the wider economy is still exposed to high oil prices and the background threat of inflation, believe many economists.

It's too early to say whether rates will be cut in December, until more retail figures are published over the coming weeks

RICS - Crash Predictions Are Premature

Rics (The Royal Institute of Chartered Surveyors) has poured cold water on the "endless talk of the demise of the property market".

Simon Rubinsohn chief economist at Rics claimed that the British market will remain "resilient" as long as the overall balance of supply and demand is maintained, something that "historically has been the best lead indicator of future developments".

Commenting on various reports which have suggested that the UK housing sector is heading for a crash in the wake of the sub-prime collapse in America.

"We still expect the pace of house price inflation to gradually slacken as the credit crunch restricts the availability of mortgage finance - particularly to 'higher risk' borrowers - and the economy more generally slows" Simon conceded to say.