LONDON: British households will be able to take out soft loans to improve the efficiency of their homes from 2013, repaying these from energy savings made, the government said on March 2.

The "Warner homes, greener homes" initiative aimed to cut carbon emissions from homes by 29% by 2020.

Part of the exhibits at MIFF2010

KUALA LUMPUR:  Furniture makers have been urged to develop environment-friendly products in line with rising consumer demand for such products.

KUALA LUMPUR: Property developer Naim Holdings Bhd acquired a 15% equity interest in its sibling Plus Viable Sdn Bhd for RM585,000.

In a filing to Bursa Malaysia on March 2, the developer said the acquisition was done by its wholly owned sub-subsidiary NCSB Engineering Sdn Bhd from construction contractor Chiew Kee Engineering Sdn Bhd on March 1.

The Malaysian Accounting Standards Board (MASB) has decided to adopt what is called IFRIC 15 — agreements for the construction of real estate.

Under the new rules, which will become applicable for the accounting period commencing July 1, property developers are to recognise revenue based on the completion method instead of the percentage-of-completion method in current practice.

SYDNEY: Australia's central bank raised its cash rate by 25 basis points to 4% on March 2 and flagged further hikes ahead, saying a surprisingly strong recovery allowed it to move policy toward more normal settings.

(from left) Lim, Angela and Hijjas inspect one of the rooms

KUCHING: Prime Minister Datuk Seri Najib Tun Razak said on March 2 the power vested in Penang Chief Minister Lim Guan Eng to terminate any contract awarded by the Penang Development Corp (PDC) at any time without giving any reason can be regarded as tantamount to abuse of authority.

KUALA LUMPUR: Plug and PlayTech Centre Silicon Valley is considering investing in technopreneur companies under the i-City Plug and PlayTech Centre Incubator programme (i-City PnP Incubator).

The programme aims to nurture and grow local entrepreneurs in Information and Communication Technology.

IPOH: Prime Minister Datuk Seri Najib Tun Razak has given the go-ahead for the Perak government to implement a development master plan to make Perak a high-income state with a viable economy, Menteri Besar Datuk Seri Dr Zambry Abdul Kadir said here.

He said Najib had responded positively after the plan, dubbed Perak Amanjaya, was submitted to him in Putrajaya on March 1.

NICE, France: A Russian billionaire who failed to complete a deal to buy one of France's most beautiful houses also lost his deposit on March 1, to the tune of €39 million (RM180 million).

Mikhail Prokhorov had made several bids to buy the sprawling villa Leopolda de Villefranche-sur-Mer before owner Lily Safra accepted a price of €390 million in 2008.