BEIJING: China has ordered developers to put more funds on deposit to pay tax on sales revenues, a move that will add pressure to their cash flows, domestic media reported on Friday.

KUALA LUMPUR: An increase of approximately US$40 per tonne was recorded in the MEPS – Asian All Products Composite steel price in May, with advances noted in flat and long categories.

KUALA LUMPUR: The residential property sector in Brunei Darussalam is picking up, with banks targeting a new generation of buyers by providing easy access to credit while developers roll-out new projects aimed at a younger population.

LONDON: Office vacancy in Asia Pacific, which has been trending downwards in 1Q2010, are expected to rise again, mainly in emerging markets as construction reaches its peak between 2010 and 2011 before moderating in 2012, according to Jones Lang LaSalle (JLL)’s latest Global Market Perspective.

WASHINGTON: Pending home sales hit a six-month high in April, data showed on June 3, but falling demand for home loans pointed to ebbing activity in the vital housing market due to the expiration of a popular tax credit for buyers.

PETALING JAYA: Paramount Corp Bhd is on track to dispose of its 20% stake in Jerneh Insurance Bhd pending approval from Bank Negara Malaysia (BNM), said its executive deputy chairman Datuk Teo Chiang Quan.

LONDON: House prices in Britain rose by 0.5% in May, half the rate of the previous two months but enough to lift property values within 10% of their 2007 peak, a survey showed yesterday.

HONG KONG: Ritz-Carlton, a luxury hotel brand of Marriott International Inc, expects to double its China hotel count by 2015, making the country its most important international market, its president said yesterday.

DHAKA (Bangladesh): The death toll from the building collapse on Tuesday night in Bangladesh's capital Dhaka's Tejgaon Area rose to 23 on Thursday June 3 morning as rescue workers pulled out more bodies from the rubble.

KUALA LUMPUR: Axis Real Estate Investment Trust (Axis-REIT) has entered into conditional agreements to acquire two parcels of land with the buildings erected on thme in Teluk Panglima Garang and Petaling Jaya, both in Selangor.