The Asian property market is known for it extreme peaks and troughs. Talk about bursting bubbles is nothing new.
1996
Regional governments move to slow speculation and increase the supply of housing after home prices hit record levels, spurred in large part by investors looking for quick profits. Hong Kong prices hit US$1,000 (Dh3,673) a square foot; values in Singapore are up 440 per cent from 1986.
1997
Asian economic markets collapse, an event brought on by bad bank loans and rampant speculative currency trading.
1998
Hong Kong home prices fall more than 44 per cent from 1997 levels.
1998
"Maybe the lessons we learn from this crisis will help us avoid, or at least cope better, with the next one,"the economist Paul Krugman says in Fortune magazine
2000
After billions are invested in a slew of internet companies, the dot-com bubble bursts, sending ripples through the global economy. Home prices in Asia continue to slide.
2003
An outbreak of the serious strain of pneumonia known as SARS devastates Asian tourism and sends regional economies reeling. Hong Kong home prices are down 70 per cent from peak.
2006
With interest rates low, investors begin buying property in Hong Kong and Singapore. But prices are still far below record levels. Singapore houses are still 37 per cent lower than in 1996.
2008
Bad bank loans and unregulated speculative trading by investors looking for quick profits lead to the collapse of the US housing sector.
2009
Investors start to buy up property in Hong Kong and Singapore, sending prices soaring. Many of the buyers are from mainland China looking to move their money out of the country.
2010
Asian governments move to restrict speculation and increase supplies of property as fears mount that property bubbles are forming in many cities. The measures have little effect as prices continue to rise.
* Kevin Brass
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
Guide to intelligent investing
Investing success often hinges on discipline and perspective. As markets fluctuate, remember these guiding principles:
- Stay invested: Time in the market, not timing the market, is critical to long-term gains.
- Rational thinking: Breathe and avoid emotional decision-making; let logic and planning guide your actions.
- Strategic patience: Understand why you’re investing and allow time for your strategies to unfold.
In numbers
1,000 tonnes of waste collected daily:
- 800 tonnes converted into alternative fuel
- 150 tonnes to landfill
- 50 tonnes sold as scrap metal
800 tonnes of RDF replaces 500 tonnes of coal
Two conveyor lines treat more than 350,000 tonnes of waste per year
25 staff on site
THE LIGHT
Director: Tom Tykwer
Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger
Rating: 3/5
FROM%20THE%20ASHES
%3Cp%3EDirector%3A%20Khalid%20Fahad%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Shaima%20Al%20Tayeb%2C%20Wafa%20Muhamad%2C%20Hamss%20Bandar%3C%2Fp%3E%0A%3Cp%3ERating%3A%203%2F5%3C%2Fp%3E%0A
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now