Posts From King World News

September 22, 2015 REAL ESTATE

Chinese firm unveils first portion of new South African 'city'

China’s Shanghai Zendai Property on Tuesday launched the first phase of an 87 billion rand ($6.4 billion) new city project in South Africa, saying the slowdown in the world’s second-largest economy would not affect construction. Asked if the project would be affected by cooling Chinese growth, Shanghai Zendai’s local chief executive, Anthony Diepenbroek, said “No, not at all … we also raised local financing. While Chinese companies have been building

September 21, 2015 REAL ESTATE

Canadian pension fund does not need to take greater risks: CEO

By Allison Lampert MONTREAL (Reuters) – The top real estate executive of Canada’s second-largest pension fund said he won’t have to make riskier investments to achieve his target of a 7 percent to 8 percent average annual return for the next decade. Daniel Fournier, chief executive of Ivanhoe Cambridge, the real estate arm of Caisse de depot et placement du Quebec [CDPDA.UL], said on Monday he won’t have to take

September 21, 2015 ENERGY (MSM)

Volkswagen Shares Tank After Company Admits to Cheating the EPA

Volkswagen shares plunged more than 20 percent on Monday, their biggest one-day fall, after the German carmaker admitted it had rigged emissions tests in the United States, and U.S. authorities said they would widen their probe to other manufacturers. Germany, alarmed at the potential damage the scandal could inflict on its world-beating car industry, urged Volkswagen to fully clear up the matter and said it would investigate whether emissions data