The Media Line Staff
Dubai, United Arab Emirates David Rosenberg (The Medi – Is Dubai back? That’s the question economists and government officials ask about once every six months, only to be disappointed. But this time, at least, the stock market seems to be answering yes. Dubai’s shares have rallied 30 percent so far this year amid a spate of positive corporate earnings, dividend announcements and encouraging economic data. The tiny Gulf emirate is displaying some of the bravado of its pre-crash years in a multi-billion-dollar bid to host the 2020 World Expo. The scale of the bid can be measured by the fact that Universal Expositions can draw up to 70 million visitors during the six months [...] Continue Reading…
Dubai is back – or not
March 6th, 2012 
davidguide Foreclosures make up 24 percent of sold homes
March 2nd, 2012 davidguide Diane Alter – AHN News Reporter
New York, NY, United States (AHN) – Homes in some stage of foreclosure accounted for nearly one in four home sales in the fourth quarter of 2011, according to a report released Thursday by RealtyTrac. During the three month period that ended Dec. 31, homes that were either bank owned or in the foreclosure process accounted for 24 percent of all U.S. home sales, an increase from the 20 percent recorded in the previous quarter, and just slightly down from a year earlier when foreclosures accounting for 26 percent of sales, the report found. Some 204,080 distressed properties were purchased during the fourth quarter. For all of 2011, foreclosure-related sales were down [...] Continue Reading…
What Do Republican Presidential Candidates Say on Foreclosure Crisis? Not Much.
February 28th, 2012 davidguide ProPublica Staff
Washington, DC, United States (ProPublica) – by Lois Beckett As we’ve detailed, President Obama’s plans to help homeowners have come up short time and again. We recently looked at Obama’s latest proposals, most of which are unlikely to make a major dent in the crisis. So, how about the Republican presidential candidates: What do they say should be done about the foreclosure crisis? They don’t say much. As newspapers in hard-hit states like Florida, Nevada, California and Ohio have been quick to point out, none of the candidates has made the foreclosure crisis a policy priority. Mostly, the candidates have argued that the housing market needs to heal on its own, without government interference. [...] Continue Reading…
Senegal under President Wade
February 25th, 2012 davidguide Dakar, Senegal (IRIN) – As Senegalese presidential elections approach on 26 February, the grassroots M23 and “Y’en ai marre” (“Enough is enough”) opposition movements continue to hold daily protests across the country against the decision that incumbent President Abdoulaye Wade can run for a third term. Thus far, six people have been killed in clashes between protesters and security forces. Senegal has long been regarded as a beacon of democracy, but President Wade’s decision to run for a third term threatens its stability and could further aggravate protests if he is declared the winner. M23 is named after the protests on 23 June 2011 which erupted after the president tried to pass a new law requiring a [...] Continue Reading…
Mortgage rates for 30-year loans rise to 3.95 percent
February 24th, 2012 davidguide Diane Alter – AHN News Reporter
New York, NY, United States (AHN) – Rates for 30-year fixed mortgages rose for the first time in four weeks as sales of previously owned homes climbed to the highest level since May 2010. The average rate for a 30-year fixed loan increased to 3.95 percent in the week ending Feb. 23 from 3.87 percent, the lowest on records dating back to 1971, mortgage giant Freddie Mac reported Thursday. The average 15-year rate rose to 3.19 percent from 3.16 percent. Low mortgage rates are helping reduce the cost of housing, supporting demand. The National Association of Realtors said on Wednesday that sales of existing homes increased 4.3 percent to a 4.57 [...] Continue Reading…
Feds jump-start health insurance co-ops with loans
February 23rd, 2012 davidguide United States (KaiserHealth) – Seven organizations will receive a total of $639 million in federal low-interest loans to launch new, consumer-governed health insurance plans in eight states, the federal government announced Tuesday. The new plans, authorized by the 2010 health law, are scheduled to open for business in 2014. They will be available on the new state health exchanges, or marketplaces, mandated by the law, and primarily will serve Americans under age 65 in the individual and small-group insurance markets. More loan recipients will be announced in coming months, with the goal of launching at least one nonprofit co-op plan in every state, according to the Centers for Medicare & Medicaid Services, which administers the program. The [...] Continue Reading…
How Citibank Dumped Lousy Mortgages on the Government
February 22nd, 2012 davidguide ProPublica Staff
Washington, DC, United States (ProPublica) – by Cora Currier Citigroup agreed yesterday to pay $158 million to settle a lawsuit over bad loans that the bank passed on to the Federal Housing Administration to insure. The whistle-blower who originally brought the case, Sherry Hunt, an employee of Citi’s mortgage department, said the company actively undermined the process that was supposed to check for fraud in order to push through reckless loans and get higher profits. The suit itself makes for good reading. We’ve pulled out the juiciest bits, and explain just what Citi appears to have been doing. Some background: The FHA insures one-third of the mortgages loans in the country, taking on the risk [...] Continue Reading…
Rookie guard Kyrie Irving tries to step up for injury-riddled Cavs
February 21st, 2012 davidguide Jojo Doria – AHN Sports Contributor
Cleveland, OH, United States (AHN Sports) – Kyrie Irving scored a team-high 17 points in his second game after returning from injury, but his sterling effort was not enough to spark his team as the Cleveland Cavaliers succumbed to the Miami Heat 111-87 Friday night at Quicken Loans Arena. Irving added four boards, two assists and one blocked shot in 31 minutes of action. Irving, 19, who is averaging 18.2 ppg, 5.0 rpg and 3.5 apg on the season, struggled to find his range Friday night as he shot five of 15 from the floor. He failed to convert on two 3-point attempts just like the rest of Cavaliers, who made [...] Continue Reading…
LeBron says return to Cleveland not out of question
February 17th, 2012 davidguide AHN Sports Staff
Cleveland, OH, United States (AHN Sports) – Miami Heat forward LeBron James said he’s not ruling out the possibility of returning to his former team the Cleveland Cavaliers in the future, the All-Star disclosed Thursday. James, who spent seven seasons with the Cavs before joining the star-studded Miami Heat in the summer of 2010, said he’s open to play again for the wine-and-gold in the future. “I had a lot of fun times here. You can’t predict the future. Hopefully you continue to stay healthy. I’m here as a Miami player and I’m happy where I am now but I don’t rule that out in any sense. If I decide to come back, hopefully the [...] Continue Reading…
Holiday, Williams lead 76ers past Cavs
February 13th, 2012 davidguide AHN Sports Staff
Cleveland, OH, United States (AHN Sports) – Jrue Holiday scored 20 points and dished out 5 dimes and the Philadelphia 76ers defeated the Cleveland Cavaliers, 99-84, Saturday night at Quicken Loans Arena. Philadelphia snapped their two game losing skid in a big way as Holiday led six Sixers players in double figures en route to a blowout victory in Cleveland. Sixth Man of the Year frontrunner Lou Williams recorded 19 points and 5 assists and Thaddeus Young tallied 16 points and 6 boards off the bench. After a tight contest in the first quarter, the Sixers unloaded the big guns in the second period and built a 17-point advantage at the break. The [...] Continue Reading…
