Buying a car in London might be cheaper than owning it. The monthly parking rates are highest in the world in London-City at $ 1,084, according to Colliers International. A little cheaper on the West End of London at $ 1,014. Having a car in Zurich will cost you $ 822 a month on parking bills. If you can find the parking space in Hong Kong, your monthly parking bills will be $ 745. In Tokyo, a parking building can be more profitable than an apartment. Parking rent per month is at $ 744. If you want to pay parking [...]
European and U.S. fishing enthusiasts and conservationists are buying in PatagoniaSomali pirates are pouring profits into buying real estate in Nairobi European and US fishing enthusiasts and conservationists are buying in PatagoniaFly fishing and new high-end travel is growing in Russia’s Kola peninsulaEuropeans and Latin Americans are buying in Portobelo, Panama(Financial Times) — In 2010, reports of Somali pirates pouring into Nairobi’s middle- and upper-end property market began to emerge from the Horn of Africa. Laden with sacks of cash, these rogue investors were said to be converting illegally-acquired ransom bounty into commercial and residential real estate in Nairobi’s bustling [...]
In space of one week, world’s two great powers decide their immediate futuresBeijing has cautioned U.S. politicians to treat China with respectU.S. has pivoted to Asia away from wars in Iraq and AfghanistanAway from heat of politics and trade, ordinary people are building bridgesBeijing — So, America has decided. President Barack Obama has been returned for another term. Now it is China’s turn. In the space of one week the world’s two great powers decide their immediate futures.It’s not all they have in common. America and China are joined at the wallet. China makes mass cost-effective products, United States consumers [...]
TOKYO Almost a quarter of Japanese manufacturers are rethinking their investment plans in China and some may shift future production elsewhere after the spike in tensions between Asia’s two largest economies. The sentiments were expressed in a Reuters Corporate Survey released on Wednesday and in interviews conducted in recent weeks with executives in industries ranging from electronics to apparel manufacturing. The concerns suggest the recent rift between China and Japan over disputed islands in the East China Sea could mark the end of a boom that has played out over two decades in which Japanese companies have emerged as the [...]
LONDON EADS and BAE Systems called off the world’s largest defense and aviation merger on Wednesday, and pinned the blame on Germany for wrecking the $ 45 billion deal. BAE said it had become clear that the interests of the French, British and German governments could not be reconciled with each other or with the objectives that BAE and EADS established for the merger. “BAE Systems and EADS have therefore decided it is in the best interests of their companies and shareholders to terminate the discussions and to continue to focus on delivering their respective strategies,” BAE said in a [...]
STORY HIGHLIGHTS The tragic boat collision that killed 38 people has rocked the island community of Lamma The island is home to about 5,000 people a half hour ferry ride from Hong Kong Island The waters around Hong Kong have some of the busiest boat traffic in the world Ferries carry 135,600 people each day around Hong Kong’s major islands Editor’s note: Kevin Voigt is the Asia business producer for CNN.com International and a Lamma Island resident for 12 years. Lamma Island, Hong Kong — When my neighbor Jane Wilbor got on a Lamma ferry Tuesday, she did something she’d [...]
For most of the 20th century, the United States has been considered the world’s economic superpower. And up until four years ago, the World Economic Forum would agree. In 2008, it ranked the U.S. as the most globally competitive economy in the world. This year, when the group published its annual Global Competitiveness Report, the U.S. ranked seventh. This story was originally published by 24/7 Wall St. Like other competitive economies, the U.S. performs well in almost all the economic measures that the report considers. However, in recent years the country’s political conflicts and growing debt have become a problem. [...]
Just 60 days before the U.S. presidential election, a report released on Wednesday shows the U.S. once again has slipped among its peers on the list of the world’s most competitive nations. The U.S. has fallen for the fourth straight year, by two spots, to the seventh most competitive country, according to The Global Competitiveness Report 2012-2013 by the World Economic Forum. It is now led by Switzerland, Singapore, Finland, Sweden, the Netherlands and Germany. “In addition to the burgeoning macroeconomic vulnerabilities, some aspects of the country’s institutional environment continue to raise concern among business leaders, particularly the low public [...]
Holding the record for the world’s closest airports are the gateways to Papa Westray and Westray, neighboring islands in the Scottish Orkneys. A flight between the two takes an average of 96 seconds (2 minutes if you include taxiing time). Hartsfield Jackson Atlanta International Airport holds two records, according to Guinness World Records. It is the busiest airport in the world in terms of the number of aircraft taking off and landing — 924,000 in 2011 — and also has the most passengers traveling through — more than 92 million last year. The world’s highest airport sits at 14,219 feet [...]