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Hong Kong’s pent-up property demand may herald price rebound

FILE PHOTO: Sales agent speaks to potential buyers in front of a model of Riva, a property development by Sun Hung Kai Properties, in Hong Kong
FILE PHOTO: A sales agent speaks to potential buyers in front of a model of Riva, a property development by Sun Hung Kai Properties, in Hong Kong February 19, 2014. REUTERS/Bobby Yip/File Photo

February 22, 2019

By Clare Jim

HONG KONG (Reuters) – The outlook for Hong Kong’s property market, the world’s least affordable, has started to firm with some analysts predicting prices could rise as much as 10 percent this year after only a short-lived correction.

Pent-up demand, expectations of slower interest rate rises and optimism Beijing and Washington will soon hammer out a trade deal, have combined to boost sales after prices drifted lower from mid-2018. Total transaction volumes jumped 120 percent in January to 4,355 sales from 1,963 in December, data from realtor Centaline showed.

The cooldown, which slowed a decade-long bull run where prices surged more than 200 percent, had raised concerns that a sustained drop would hurt financially-strapped homeowners at a time of rising interest rates and economic uncertainties.

But a rebound in prices means potential buyers will have only a narrow window to get a piece of the city’s sky-high real estate, reigniting the challenges policymakers face in easing public discontent over rising costs and asset bubble risks.

Citi, among the most upbeat, sees prices rebounding from March. The brokerage forecasts prices could rise as much as 30 percent in the next two years, with 2019 alone seeing a 5 percent rise.

“There may be black swan events but it shouldn’t change the long-term up-cycle…our market is in a serious shortage,” said Ken Yeung, Citi’s head of Hong Kong property research.

Yeung estimated total housing supply at 38,000 units on average per year until the end of 2021, falling short of a demand of 53,000 units per year.

“Property rebounds have been strong every time in the past because corrections are against the fundamentals,” he added. “When a series of negative news happens, many people with real demand, for example the newlyweds, defer their purchases, creating pent-up demand. These demands don’t vanish, they accumulate.”

Hong Kong’s private home prices fell for the fifth consecutive month in December, down 2.4 percent from November, official data showed. But prices still climbed 1.6 percent for the whole of 2018.

NEARING BOTTOM?

If shares of local real-estate developers are a precursor of property trends, the Hang Seng’s property sub index has surged around 28 percent since October, returning to levels seen in June before Sino-U.S. trade tensions intensified and sparked a market rout.

CLSA also expects the property market to rebound by up to 15 percent from April to the year-end, as capital looks for investment opportunities and pent-up demand from mainland Chinese who are gaining their Hong Kong residency is unleashed this year.

Developers launching new units at attractive prices, some at 20 percent discount to the secondary market, in the last two months have also been a catalyst to the recovery in transactions.

Geoffrey Lo, general manager of developer Nan Fung Development, said sales in January were better than expected as activity is usually thin before the Lunar New Year. He added the company could launch more sales this year, depending on market conditions.

But not everyone is as sanguine that prices are bottoming.

Justin Chiu, an executive director of CK Asset Holdings, a major developer, said he still expected home prices to fall 10 percent this year due to uncertainties from trade tensions and as more homeowners confront negative equity – when a home loan exceeds the market value of the property.

Hong Kong saw its first negative equity cases in two years in the last quarter of 2018, official showed said last month.

But Citi’s Yeung brushed off the impact of negative equity on the property market. The number of cases was still very low and the average loan-to-value ratio, the ratio of a loan to asset, was 46 percent in the last two years, an indication most homebuyers were strong enough to withstand a price correction.

(Editing by Jacqueline wong)

Source: OANN

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John Walker Lindh, American ex-Taliban fighter, to be released in May, hasn't denounced Islamism

John Walker Lindh, a former American Taliban militant convicted in 2002 for supporting the terrorist organization, is due to be freed in May.

The former Islamist fighter, dubbed “Detainee 001 in the war on terror,” was arrested in 2001, just months after the Sept. 11 attacks and the start of the war in Afghanistan. Then just 20 years old, he was among a group of Taliban fighters who were captured by U.S. forces.

Within a year, Walker Lindh was convicted of supporting the Taliban and sentenced to 20 years in prison -- even as some hardliners urged authorities to consider treason charges that could have resulted in the death penalty.

THE TERRORIST NEXT DOOR: STATES CONSIDER SEX-OFFENDER-STYLE REGISTRIES FOR RELEASED TERROR INMATES

Walker Lindh’s release later this year is likely to be met with headaches for security services across the globe, especially since he has since acquired Irish citizenship and plans to move there -- even though he hasn’t denounced radical Islamic ideology and has even made pro-Isis comments to the media.

The National Counterterrorism Center penned a document dated Jan. 24, 2017 claiming the former Taliban fighter remains as radicalized now as he was in 2001.

“As of May 2016, John Walker Lindh (USPER) — who is scheduled to be released in May 2019 after being convicted of supporting the Taliban — continued to advocate for global jihad and to write and translate violent extremist texts,” the Foreign Policy magazine reported.

The report added Walker Lindh told “a television news producer that he would continue to spread violent extremist Islam upon his release.”

It appears, however, that the Irish government won’t follow the example of the British government -- which rescinded a Jihadi bride’s British citizenship -- and won’t stop Walker Lindh from entering the country.

ISIS FIGHTERS TIED TO KILLING 4 AMERICANS IN SYRIA CAPTURED BY US-BACKED FORCES, US OFFICIAL SAYS

“Irish citizens are not subject to immigration control,” the spokesman for Ireland’s Department of Justice told the London Times. “Therefore, if a person has Irish citizenship and presents their Irish passport on arrival, they will not be refused entry to the state.”

Walker Lindh confirmed his plans to head to Ireland after his release in remarks he made to CAGE, a London-based organization focused on supporting people impacted by the War on Terror.

“I don’t really know what to expect from the Irish government. I know virtually nothing about them. I think the only reasonable way to present my case to them is to explain my unique circumstances that make my survival in the US practically impossible.

— John Walker Lindh

“I don’t really know what to expect from the Irish government,” he wrote to the group, according to the newspaper. “I know virtually nothing about them. I think the only reasonable way to present my case to them is to explain my unique circumstances that make my survival in the US practically impossible."

He added: “Essentially I am seeking asylum from one country where I am a citizen in another country where I am also a citizen. The worst they can do is decline my request. I figure it is worth at least trying.”

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In the U.S., meanwhile, multiple lawmakers have called for the creation of a registry of convicted terrorists, modeled after sex-offender registries, as multiple high-profile releases are set to take place in the next two years.

The Associated Press contributed to this report.

Source: Fox News National

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Bangladesh prime minister sees injured in deadly Dhaka fire

Bangladesh Prime Minister Sheikh Hasina has visited some of the injured in a devastating fire in the capital while investigators have found a huge stock of flammable materials stashed in the basement of the five-story building where the blaze began.

Hasina told reporters Saturday that she wants all the chemical warehouses removed from the oldest part of Dhaka, a cramped 400-year-old area.

At least 67 people died and 50 others were injured in the fire Wednesday that police say began in a five-story building.

Fire Service and Civil Defense deputy director Debashish Bardhan says investigators discovered the basement stock on Friday, and that the devastation could have been far worse.

Investigators haven't said yet what sparked the fire.

Source: Fox News World

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Washington Capitals Goalie to Skip Visit With Trump

The star goaltender of the 2018 Stanley Cup champion Washington Capitals is opting out of the team's visit to the White House on Monday, calling it a "personal thing" that he hopes does not detract from the visit.

Braden Holtby told ESPN on Friday that he decided not to meet with President Donald Trump, making him the third player from the winning squad to skip the private meet and greet.

"It's one of those things you have to think about, but for me, I have to stay true to my values. I'm going to respectfully decline the offer," Holtby said.

"It's a tough situation for everyone, to be forced into making a decision. You're a team. You want to stick together, no matter what. I hope everyone kind of blows it away — that you don't worry about who goes and who doesn't. For me, it's just a personal thing. I believe in what I believe in.

"In order to stick to those values, I have to do what I think is right, but that doesn't make a difference in anyone else's decision. We stick by every teammate and their decision."

Capitals forward Brett Connolly also declined to attend the event, as did Devante Smith-Pelly — who is currently playing on the Capitals' farm team, the Hershey Bears.

After the Capitals won the Stanley Cup last June, Smith-Pelly, an African-American, said, "the things that [Trump] spews are straight-up racist and sexist."

Capitals coach Todd Reirden told ESPN his players have the right to decline the meeting with Trump, which will not be open to the media.

"I understand our players and their decisions and I respect it," Reirden said. "They're allowed to make their own decisions. It's important that we support them in whatever decision that they make."

The Capitals play at Capital One Arena, which is about a mile from the White House.

Source: NewsMax Politics

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MMA fighter Conor McGregor arrested in Florida for breaking fan’s phone

UFC fighter Conor McGregor appears in a police booking photo at Miami-Dade County Jail in Miami
UFC fighter Conor McGregor appears in a police booking photo at Miami-Dade County Jail in Miami, Florida, U.S. March 11, 2019. Miami-Dade County Corrections/Handout via REUTERS

March 12, 2019

(Reuters) – Conor McGregor was arrested in Miami Beach on Monday after a fan said the Irish mixed martial arts fighter smashed his phone and then walked off with the shattered remains, police records show.

McGregor, 30, was booked into the Turner Guilford Knight Correctional Center in Miami on suspicion of robbery and criminal mischief, according to an arrest affidavit filed in connection with the incident, which took place shortly after 5 a.m. (0900 GMT) on Monday.

“The victim and the defendant were exiting the Fountainbleau Hotel and the victim attempted to take a picture of the defendant with his cell phone,” the arrest report said, without identifying the second man’s name.

“The defendant slapped the victim’s phone out of his hand, causing it to fall to the floor. The defendant then stomped on the victim’s phone several times, damaging it,” the report said, adding that the device was valued at $1,000.

McGregor was taken into custody later on Monday. It was not immediately clear if he had retained a local attorney to represent him.

McGregor was charged in April 2018 with three counts of assault and one count of criminal mischief after police said he attacked a charter bus in New York carrying UFC fighters, throwing a moving dolly through a window and injuring other fighters.

He later pleaded guilty to a reduced disorderly conduct charge.

(Reporting by Dan Whitcomb; Editing by Alistair Bell)

Source: OANN

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SpaceX rocket launched carrying Israel’s first lunar lander

A SpaceX Falcon 9 rocket carrying Israel's first spacecraft designed to land on the moon is prepared for launch on the first privately-funded lunar mission at the Cape Canaveral Air Force Station
A SpaceX Falcon 9 rocket carrying Israel's first spacecraft designed to land on the moon is prepared for launch on the first privately-funded lunar mission at the Cape Canaveral Air Force Station in Cape Canaveral, Florida, U.S., February 21, 2019. REUTERS/Joe Skipper

February 22, 2019

CAPE CANAVERAL, Fla. (Reuters) – A SpaceX Falcon 9 rocket blasted off from Florida on Thursday night carrying Israel’s first lunar lander on a mission that if successful will make the Jewish state only the fourth nation to ever to achieve a controlled touchdown on the moon’s surface.

The unmanned robotic lander dubbed Beresheet – Hebrew for the biblical phrase “in the beginning” – soared into space from the Cape Canaveral Air Force Station at about 8:45 p.m. EST (0145 GMT Friday) atop the 23-story-tall rocket.

(Reporting by Joey Roulette at Cape Canaveral; Writing and additional reporting by Steve Gorman in Los Angeles; Editing by Sandra Maler)

Source: OANN

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Man sentenced for murder in shooting, mutilation of friend

A 21-year-old man will spend 50 to 70 years in prison for the shooting death and mutilation of his childhood friend in a field north of Detroit.

Andrew Fiacco was sentenced Thursday. A jury convicted him last month of second-degree murder, using a firearm during a felony, dismemberment and lying to a police officer.

Prosecutors said Fiacco shot 19-year-old Stephen McAfee twice in the head in a remote Bruce Township field in March 2016 then dismembered his body and buried some remains on family property.

In April 2017, Fiacco showed investigators where they could find McAfee's remains.

Fiacco's 20-year-old ex-girlfriend, Eevette MacDonald, pleaded guilty to helping cover up McAfee's death and was sentenced earlier this month to a year in prison and probation.

Source: Fox News National

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FILE PHOTO: The Federal Reserve Board building on Constitution Avenue is pictured in Washington
FILE PHOTO: The Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 27, 2019. REUTERS/Brendan McDermid

April 26, 2019

NEW YORK (Reuters) – The Federal Reserve may lower the interest it pays on excess reserves banks leave with it by 5 basis points at its April 30-May 1 policy meeting in a bid to prevent the federal funds rate from drifting higher, Morgan Stanley analysts said on Friday.

This would mark the third such “technical” adjustment on the interest on excess reserves (IOER) following cuts last June and December.

(Reporting by Richard Leong; Editing by Chizu Nomiyama)

Source: OANN

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Tennis - Australian Open - Women's Singles Final
FILE PHOTO: Tennis – Australian Open – Women’s Singles Final – Melbourne Park, Melbourne, Australia, January 26, 2019. Japan’s Naomi Osaka attends a news conference after winning her match against Czech Republic’s Petra Kvitova. REUTERS/Adnan Abidi

April 26, 2019

(Reuters) – World number one Naomi Osaka came from behind in the final set to beat Croatian Donna Vekic 6-3 4-6 7-6(4) on Friday and move into the Porsche Tennis Grand Prix semi-finals.

Osaka comfortably won the opening set but was tested by the Croatian, who pushed her to the limit in the second and third. The Japanese made 45 unforced errors as she struggles to get to grips with swapping hard courts for clay.

Osaka was visibly frustrated and trailed 5-1 in the final set but she refused to give up and found her rhythm to break Vekic twice and prevent her from serving for the match.

In the tiebreaker, a confident Osaka upped her baseline game and had two early mini breaks before wrapping up the match in two hours and 18 minutes. An infuriated Vekic even smashed her racket after losing the match.

“I told myself I didn’t want to have any regrets here,” Osaka said. “I was stressed out when I went down 1-5… but this (comeback) was pretty good because I don’t play really well on clay.”

Earlier, world number three Petra Kvitova came back from a set down to beat Anastasija Sevastova 2-6 6-2 6-3 and move into the tournament’s semi-finals for the third time in her career.

Sevastova had a dream start, breaking Kvitova twice to take a 3-0 lead as the Czech struggled with her first serve. Kvitova also made a slew of unforced errors, with many of her returns going long.

Sevastova used the full width of the court to get the better of Kvitova, who played on the back foot for much of the first set as the Latvian gave her little time to catch her breath.

However, Kvitova recovered in the second set and she broke Sevastova’s serve when she was 3-2 up, winning 10 straight points to take a 5-2 lead. Sevastova looked shaken and was broken again to give Kvitova the second set.

Kvitova took command in the final set and broke a visibly upset Sevastova to take a 3-1 lead before easing into the semis.

“In the first set I missed almost everything. I was pretty slow and she just couldn’t miss,” Kvitova said. “In the second set it was very important for me to stay on my serve and the chance to break her came.”

Kiki Bertens plays Angelique Kerber later on Friday and Victoria Azarenka faces Anett Kontaveit in the last quarter-final.

(Reporting by Rohith Nair in Bengaluru, editing by Ed Osmond)

Source: OANN

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The Latest on fatal pileup on Interstate 70 near Denver (all times local):

10:10 a.m.

Colorado officials say four people have died after a semi-truck hauling lumber plowed into vehicles on Interstate 70, causing a fire so intense that it melted the roadway and metal off of cars.

Authorities had to wait until daylight Friday to confirm the death toll from Thursday’s 28-vehicle pileup because of the devastation caused by the fire.

Six people were taken to hospitals with injuries. Their conditions are unclear.

Lakewood police spokesman Ty Countryman says the driver of the truck who caused the crash sustained minor injuries. He has been arrested on suspicion of vehicular homicide.

Officials say the driver was headed down a hill when he slammed into slower traffic. Countryman says there is no indication the crash was intentional.

____

7:40 a.m.

A truck driver blamed for causing a deadly pileup involving over two dozen vehicles near Denver has been arrested on vehicular homicide charges.

Lakewood police spokesman Ty Countryman said Friday that there’s no indication that drugs or alcohol played a role in Thursday’s crash.

The unidentified driver was headed down a hill on Interstate 70 when he slammed into slower traffic and sparked a massive fire. Countryman said police are looking at whether his brakes were working properly.

He said 28 vehicles were involved, up from the initial 15 vehicles police reported after further sorting through the burned wreckage.

Police still say there were multiple fatalities but are still working to provide an exact number.

The highway is expected to remain closed until Saturday.

Source: Fox News National

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Tiger woods celebrates after winning the 2019 Masters
FILE PHOTO: Golf – Masters – Augusta National Golf Club – Augusta, Georgia, U.S. – April 14, 2019 – Tiger Woods of the U.S. celebrates on the 18th hole after winning the 2019 Masters. REUTERS/Lucy Nicholson

April 26, 2019

Tiger Woods is sending a message that he thinks he still has enough left, emotionally and physically, to win three more major championships to tie Jack Nicklaus’ record 18 titles.

Speaking to GolfTV in his first sit-down interview since the Masters, Woods said he has taken some time off since his victory at Augusta National, which still doesn’t feel real.

“Honestly, it’s hard to believe,” Woods said. “I was texting one of my good friends last night … that I couldn’t believe that I won the tournament. That it really hasn’t sunk in. I haven’t started doing anything. I’ve just been laying there. And every now and again, I’ll look over there on the couch and there’s the jacket.”

That’s the fifth green jacket for the 43-year-old Woods, who hadn’t won a major tournament since the 2008 U.S. Open. Along the way, four back surgeries, a divorce and other personal issues derailed him.

He said he has been spending time with his children – daughter Sam, 11, and son Charlie, 10 – who weren’t born when their father was the most dominant golfer on the planet.

“They never knew golf to be a good thing in my life and only the only thing they remember is that it brought this incredible amount of pain to their dad and they don’t want to ever want to see their dad in pain,” Woods said. “And so to now have them see this side of it, the side that I’ve experienced for so many years of my life, but I had a battle to get back to this point, it feels good.”

He said he hopes – maybe expects — they’ll see this side again.

And no one will take Woods for granted at the PGA Championship at Bethpage Black Course on Long Island, N.Y., which starts May 16.

Woods said he’ll be ready for a course he already conquered once in a major: the 2002 U.S. Open.

“I’m doing all the visual stuff, but I haven’t put in the physical work yet. But it’s probably coming this weekend,” he said.

Before Woods encountered health and personal problems, it was expected that topping Nicklaus’ major mark was “when” and not “if.” Then the certainty went away, but Woods thought he still had a chance.

“I always thought it was possible, if I had everything go my way. It took him an entire career to get to 18, so now that I’ve had another extension to my career – one that I didn’t think I had a couple of years ago – if I do things correctly and everything falls my way, yeah, it’s a possibility. I’m never going to say it’s not.

“Now I just need to have a lot of things go my way, and who’s to say that it will or will not happen? That’s what the future holds, I don’t know. The only thing I can promise you is this: that I will be prepared.”

–Field Level Media

Source: OANN

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Maria Butina, the Russian woman who was accused of being a secret agent for the Russian government, was sentenced to 18 months in prison Friday by a federal judge in Washington after pleading guilty last year to a conspiracy charge.

Butina, who has already served nine months behind bars, will get credit for time served and can possibly get credit for good behavior, the judge said. She will be removed from the U.S. promptly on completion of her time, the judge added, and returned to Russia.

MARIA BUTINA, ACCUSED RUSSIAN SPY, PLEADS GUILTY TO CONSPIRACY

An emotional and apologetic Butina said in court Friday she is “truly sorry” and regrets not registering as a foreign agent.

“I feel ashamed and embarrassed,” she said, adding that her “reputation is ruined.”

Butina has been jailed since her arrest in July 2018. She entered the court Friday wearing a dark green prison jumpsuit and spoke in clear English, with a slight Russian accent.

“Please accept my apologies,” Butina said.

Butina’s lawyer, Robert Driscoll, said after the sentencing they had hoped for a “better outcome,” but expressed a desire for Butina to be released to her family by the fall.

Prosecutors had claimed Butina used her contacts with the National Rifle Association and the National Prayer Breakfast to develop relationships with U.S. politicians and gather information for Russia.

Prosecutors also have said that Butina’s boyfriend, conservative political operative Paul Erickson, identified in court papers as “U.S. Person 1,” helped her establish ties with the NRA.

WHO IS MARIA BUTINA, THE RUSSIAN WOMAN ACCUSED OF SPYING ON US?

In their filings, prosecutors claim federal agents found Butina had contact information for people suspected of being employed by Russia’s Federal Security Services, or FSB, the successor intelligence agency to the KGB. Inside her home, they found notes referring to a potential job offer from the FSB, according to the documents.

Investigators recovered several emails and Twitter direct message conversations in which Butina referred to the need to keep her work secret and, in one instance, said it should be “incognito.” Prosecutors said Butina had contact with Russian intelligence officials and that the FBI photographed her dining with a diplomat suspected of being a Russian intelligence agent.

Fox News’ Jason Donner, Bill Mears, Greg Norman and the Associated Press contributed to this report.

Source: Fox News Politics

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