A live press conference is underway as of this update: Mario Draghi, President of the ECB, is speaking now.

This morning Euro based stocks crept higher on a bit of investor confidence in the outcome of the European Central Bank’s policy meetup later today. According to the Reuters report, European earnings reports, the two-day EU summit, and comparatives in exchange rates somehow play a role in the relative optimism. Accordingly, the euro edged up 0.3 percent to $1.3570.

A lot obviously hinges on ECB president Draghi’s 1330 GMT news conference, where interest rates and other key bank variables are expected to be a bit of “non-news”, only the coming reporting well tell.

Clearly the mood in all markets is guarded, and for good reason. Spain’s prime minister Mariano Rajoy’s corruption allegations, the Irish situation, unrest in the Tunisia and elsewhere impact on oil prices, a multitude of negative factors weigh against what many experts would classify as “hope” that the ECB situation might improve. Fiscal woes from Cyprus to Dublin and back would seem to point to basically nothing being decided today.

Other news agencies already suggest the ECB will postpone any decision on the liquidation of the IBRC, or Anglo Irish Bank. The legislation is for many experts and governmental officials, a do or die situation. The legislation is much needed in order to protect taxpayers and other entities involved. There is as much as €14 billion in public assets at risk failing some decision.

We will keep you updated here, following the ECB news in about two hours at 2:30 CET.

Cyrus Mistry (left), who took over for legendary businessman Ratan Tata, offered this with regard to the investment climate there in India:

“The recent emphasis on policy clarity and a renewed thrust to economic reforms by the Government of India is encouraging. With a sustained focus on policy stability and implementation, I believe that India would continue to be an attractive investment destination.”

ata Housing Development Company Limited

Tata Group owns some 100 plus companies worldwide already including legendary auto maker Jaguar, and
It seems safe to assume at least some of this new investment will be earmarked for real estate, given the group’s past interest in the sector. The conglomerate has Tata Realty and Infrastructure Limited and Tata Housing Development Company Ltd., as well as several key investment arms in the real estate space.

Just last month Tata Housing announced the expansion of developments for affordable housing in India via “Smart Value Homes Limited forays into Bengaluru”, and high end real estate ventures have been in the news for Tata of late as well. On the demand side of the real estate equation in India, the New York Times reported last month on a coming construction boom fueled by the lack of appropriate real estate space for International brands like Walmart to expand into there. The point being, there is little quality commercial space in all India for stores to take up business in. New construction would seem a logical investment avenue for any conglomerate.

Tata has almost half a million employees worldwide, and one of the most valuable brands in the world. It remains to be seen what path the new CEO will blaze to extend the empire Ratan Tata created. Manufacturing to services and beyond, $8 billion almost seems like a puny sum when all Tata’s assets are weighed. Still, forward momentum is always positive news.

Sunrise on Belize real estate.

Those living outside Belize who would like to purchase real estate should be aware of the laws and fees surrounding Belize real estate acquisition. Non-Belizean citizens are free to purchase land and be granted full title to the land; however, everyone purchasing more than a ½ acre in a city or 10 acres in a rural area must first procure a permit called the Alien’s Landholding License, which is issued by the Department of Natural Resources. In order to obtain this license, you’ll have to present a plan detailing what you will do with the land. This law was created in the ‘70s, in an effort to curb rampant Belize real estate speculation.

Of course, financial issues are also usually on the minds of those looking to purchase real estate. As a non-Belizean, you’ll be required to pay a 15% transfer tax to the Government of Belize when you acquire the land. Attorney’s fees are usually 1-3% of the sale price; a token registration fee is also required. You are entitled to your own legal council when purchasing land in Belize. However, if you have training in real estate transactions, such as online accounting classes or a finance degree online, you may close the transaction yourself.

As in the U.S., in Belize real estate agents generally charge sellers around 6-7% commission on property sales. Buyers purchasing land in rural or remote areas should also be prepared to pay for travel expenses. Foreign individuals looking to invest in land in Belize are generally expected to pay cash for a property, as little financing is available to foreigners.

Currently, regular property taxes in Belize are around 1-1.5% of the value of the property, as is determined by the Department of Natural Resources. Other property taxes are a yearly 5% tax on tracts of more than 300 acres. The tax is paid on the land’s undeveloped value, and was created to help spread development throughout Belize and lower land speculation.

Source:

University of Denver

Joy Payley is a writer and editor for the blog writing company, Article Writing Services.

60 Threadneedle Street, London - a choice Hammerson property

A report from Reuters Hammerson’s first half situation is revealed showing the firms pre-tax profit at 192.5 million pounds. According to the news, this is an drop, year-to-year, of some 42.6 percent.  Chief Executive David Atkins commented in a statement (Reported by Tom Bill) :

 ”Our regionally dominant shopping centres and convenient retail parks are trading ahead of national benchmarks and continue to attract successful retailers. Despite a challenging retail backdrop in both our markets, we have seen little impact from the recent rise in UK retail administrations.”

This news comes on the heels of  Hammerson’s head of London Group, Martin Jepson, having stepped down. Peter Cole, Executive Director and Chief Investment Officer there, has assumed Jepson’s spot during the interim, but the message here seems pretty clear. Any company climbing out of the recession last year, only to dump half the ROI for investors, is going to lose someone. The chart below from Hammerson shows the tale of the tape.

The return on equity at Hammerson so far this year - courtesy Hammerson report half year

Hammerson’s CEO David Atkins approved the sale of over 500 million pounds worth of Hammerson properties to shuffle debt and fund further acquisition last year. Simon Packard of Bloomberg reported on Hammerson’s over 370 million in mall acquisitions, as well as the company’s intended building developments. So, on the face of this news, it looks like forward momentum will have to suffice in place of real profit for Britain’s third biggest real estate investment house – and their investors, or course.

Last month Hammerson shareholders dumped over 85 million shares of the company’s stock, a bad day that sent the sector into a mini-free fall for a spell.  Let’s face it, when Cadillac Fairview (Hammerson’s biggest single investors)  lost their confidence… It remains to be seen if Atkins can bail out what appears to be a listing real estate investment ship. In fairness, Atkins and Hammerson are not alone out to sea. Aflac lost over half its forward momentum and profits, Japan’s Nomura is sliding downhill faster than even Hammerson (PDF), and the US debt crisis looms far larger than shopping center investment woes.

We will follow Hammerson via alert to keep you abreast of news from them. More on Nomura and other key segment investors later on this week.

For those interested in Hammerson’s half year numbers, that report is here in PDF form.