Headlines

The state-owned NBCC on September 24 moved the Supreme Court seeking to develop and complete embattled realty major Supertech Limited's 17 stalled or partially built projects where around 27,000 hassled home buyers are stuck for years, the Hindustan Times reported. These 17 projects were launched in the National Capital Region, Dehradun and Bengaluru but completion of the residential units was hit due to financial crisis faced by the realty major which led to insolvency proceedings since 2021.

China’s central bank announced a series of measures on Tuesday aimed at making it easier for households and companies to borrow money, in the boldest attempt by the Chinese authorities since the pandemic to revive economic growth, halt a housing market crash and stop a broad decline in prices, the New York Times reported. The central bank, the People’s Bank of China, cut short-term interest rates and rates on existing mortgages, reduced minimum down payments for housing purchases, and freed the country’s state-controlled commercial banks to lend a larger proportion of their assets.

The Czech Republic’s central bank on Wednesday cut its key interest rate for the seventh time in a row as inflation remains low and amid the economy’s slow recovery, the Associated Press reported. The cut, which had been predicted by analysts, brought the interest rate down by a quarter of a percentage point to 4.25%. The bank started to trim borrowing costs by a quarter-point on Dec. 21, the first cut since June 22, 2022. Further cuts of half a percentage point each time followed on Feb. 8, March 20, May 2 and June 27. Another cut by a quarter of a percentage point came on Aug 1.

In the seven years that he has been France’s president, Emmanuel Macron has bet on tax cuts for the wealthy and for corporations as a recipe for stimulating the economy. His new government is about to tear up that playbook. Faced with a rapid deterioration in the nation’s finances, Mr.

Australia’s headline inflation rate fell to within the Reserve Bank of Australia’s target band for the first time since 2021 in August, but economists warn that this won’t trigger an immediate interest-rate cut, the Wall Street Journal reported. Consumer prices rose 2.7% in the year to August, down from 3.5% on year in July, the Australian Bureau of Statistics said Wednesday. The result was in line with market expectations.

Bank of Canada Governor Tiff Macklem said he’s pleased inflation is back to the central bank’s 2% target but he wants to see more easing in core measures and shelter prices, Bloomberg News reported.

Brazil’s annual inflation slowed much more than expected in early September despite a hike to utility bills, giving some respite to the central bank as it raises borrowing costs to tame prices, Bloomberg News reported. Official data released Wednesday showed prices rose 4.12% from a year earlier, below all forecasts in a Bloomberg survey of economists that had a 4.29% median estimate. On the month, they increased 0.13%.

Germany’s economy is likely to gather pace as several of the causes behind its recent weakness prove short-lived, according to Bundesbank President Joachim Nagel, Bloomberg News reported. Some of the factors holding back growth — which include elevated inflation, reluctant consumers and high interest rates — will probably only be “temporary,” Nagel said Tuesday in a speech, while acknowledging some longer-term structural problems that must be addressed.

Sweden’s central bank cut its key interest rate for the third time this year and said borrowing costs will likely be lowered again soon as a faltering economy threatens to push inflation further below its target, the Wall Street Journal reported. The Riksbank cut its key rate to 3.25% from 3.5%, in line with a poll of economists conducted by The Wall Street Journal ahead of the decision. “If the outlook for inflation and economic activity remains unchanged, the policy rate may also be cut at the two remaining monetary policy meetings this year,” the Riksbank said.

Europe’s real estate firms have raised $5.6 billion this year via equity offerings as landlords gear up to bolster their finances, Bloomberg News reported. The proceeds from initial public offerings and share sales in listed companies exceed the amount for the same period in 2023 more than three times, according to Bloomberg calculations. In the latest deal, beleaguered Swedish landlord SBB is offering 49% of the shares in its residential unit Sveafastigheter AB.