BEIJING: The global economic recovery is likely to be "slow and tortuous" and China faces risks from a multitude of factors including trade protectionism and bad real estate loans, China's Banking Regulatory Commission (CBRC) said on Tuesday, June 15.

SINGAPORE: The United Arab Emirates’ (UAE) economy will grow at a pace of around 4% this year and next on the back of big infrastructure projects, its central bank chief said yesterday.

Last month, the government had projected growth of around 3.2% in 2010.

KUALA LUMPUR: The total construction cost of the new Istana Negara in Jalan Duta is more than RM800 million, including road upgrading and the building of a flyover.

Deputy Works Minister Datuk Yong Khoon Seng said this amount was more than the RM400 million originally announced as the latter did not cover the negotiated price and was not the overall cost.

KUALA LUMPUR: Owners and beneficiaries of land in Kampung Baru land have agreed to the plans to redevelop the area which will retain 100 per cent Bumiputera ownership.

The decision was made during a discussion between Federal Territories and Urban Well-being Minister Datuk Raja Nong Chik Raja Zainal Abidin and 50 representatives of the owners and beneficiaries.

KUALA TERENGGANU: The Finance Ministry has approved the construction of the Bukit Kuang Bridge in Kemaman which involves an allocation of RM200 million, Terengganu Menteri Besar Datuk Ahmad Said said on Monday June 14.

KUALA LUMPUR: Reliance Pacific Bhd had disposed of two land parcels, together with a two-storey office building for RM26 million.

KUALA LUMPUR: KSL Holdings Bhd is acquiring a land parcel together with a building atop it in Kuala Lumpur for RM25.4 million.

KUALA LUMPUR: Online property research house Global Property Guide (GPG) (www.globalpropertyguide.com) has named Malaysia as its recommended property investment destination in Asia.

BANGKOK: Thai real estate firm CP Land said on Monday, June 14, that it expected to list on the Thai stock exchange in December and aimed for growth in both profit and revenue of at least 15% a year in 2011-2013.

CP Land is part of unlisted Charoen Pokphand Group, Thailand's largest agribusiness group, which also owns listed Charoen Pokphand Foods. 

KUALA LUMPUR: IJM Land has opened The Light Collection 1 for sale at its flagship waterfront project, The Light, in Penang.

Half of the non-Bumiputera units at the project, comprising condos and villas, has been sold since its soft launch on May 29, said its managing director Datuk Soam Heng Choon.