| The daily source on REITs and real estate investment |  |
- Survey: Economy to expand at a moderate pace in 2013
The economy is expected to expand at an annual rate of 2% for 2013 due to uncertainty surrounding the government's budget, according to a survey by the National Association for Business Economics. The growth rate could get stronger after the budget problem is resolved. "While the NABE forecasters see fiscal threats, they are optimistic that there will be some resolution toward the second half of this year and that will result in an improvement in many of the numbers in 2014," said Nayantara Hensel, an economics professor at the National Defense University. The Washington Post/The Associated Press
(2/25)     
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- Mapletree offering prices at top end of range, sources say
Mapletree Investments is selling shares in its $1.3 billion initial public offering that are priced at the top end of the range, according to sources. The shares will be priced at 93 Singaporean cents. Mapletree Investments will own between 32% to 35% of the REIT after the offering. Bloomberg
(2/25)
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Federal shutdown likely if stopgap isn't passed soon: The $85 billion sequestration is set to take effect Friday, but the price of a deadlock between political parties could become much higher a few weeks later. Parts of the U.S. government could be forced to shut down if Congress doesn't adopt an interim funding measure by March 27. Bloomberg
(2/26), Reuters
(2/25)
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| Policy Watch | | |
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- CFTC will hold discussion on Libor changes
The Commodity Futures Trading Commission has scheduled an event today to consider possible changes to the London Interbank Offered Rate. Industry participants including representatives from CME Group, NYSE Euronext and IntercontinentalExchange are expected to attend. CFTC Chairman Gary Gensler has expressed concern about benchmark interest rates. Meanwhile, the U.K. government has started seeking a body to take over supervision of Libor. Bloomberg
(2/26), City A.M. (London)
(2/26), Bloomberg Businessweek
(2/25)
- Global transaction tax is possible, EU official says
EU Tax Commissioner Algirdas Semeta says a global tax on financial transactions eventually should be a reality, as he encourages U.S. supporters to continue their efforts. The U.S. Treasury Department remains opposed. Meanwhile, the head of the Lisbon Stock Exchange has called on the Portuguese government to oppose Europe's proposed tax until all EU members support it. Bloomberg
(2/26), Reuters
(2/25), The Trade News (U.K.)
(2/25)
- International accounting panel offers U.S. a seat
The International Accounting Standards Board, to gain credibility and encourage the accounting community to adopt its rules, is offering the U.S. a seat on its newly established 12-nation forum. The U.S. Securities and Exchange Commission has not yet decided whether to incorporate the IASB's International Financial Reporting Standards into the U.S. financial reporting system for public companies. Earlier this month, the G-20 reiterated its call for a single set of accounting standards for investors and gave the IASB and the U.S. Financial Accounting Standards Board until December to report on their convergence projects. Reuters
(2/25)
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