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North America: Top Headline
Property slump now affecting luxury property in the US with millions off asking pricesThe property downturn in the US is leaving no one unaffected as even those with luxury homes are having to slash millions of dollars off the asking price in order to sell.
Feature story
Islamic finance poised for massive growth as London becomes key hub outside the Middle EastLondon is emerging as the key centre for Islamic finance outside of the Middle East as financial institutions clamber to become part of a growing market. Currently it is estimated that Islamic banking manages funds of $200 billion. It is predicted to increase by up to 15% a year and be worth a trillion dollars by 2010.
Company news
The Canaries are singing a new songOnce upon a time the Canary Islands were an exclusive holiday haunt for only a select few who actually knew where the Spanish archipelago was hidden in its tucked away corner of the North Atlantic Ocean.
Forum Watch
Forums debate the good prospects in German property market but finance is a big hurdleWith Germany emerging as one of the best longer term property investment prospects amid the credit crunch it has also become a major topic on the property forums this week.
Currency watch
Dollar ends on a positive footingLots of volatility on the exchange markets yesterday, with the dollar losing some of its recent initial strength but ending on a positive footing.
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