- The dollar volume of homes purchased by foreigners from April 2018 through March 2019 dropped 36% from the previous year, according to the National Association of Realtors.
- Foreigners bought 183,100 properties with a total value of about $77.9 billion, down from 266,800 properties valued at $121 billion a year earlier.
- “The magnitude of the decline is quite striking, implying less confidence in owning a property in the U.S.,” the Realtors’ chief economist says.
Tyre maker Michelin said Thursday it would close a French-based factory with 619 employees next year as competition from cheaper Asian manufacturers knocks its profit margin. Source The Local
Continuing its downward spiral for consecutive 11th month, passenger vehicle sales plunged by 23.69 per cent in September, as per the latest data from SAIM (Society of Indian Automobile Manufacturers). The report says commercial vehicle sales dipped 62.11 per cent in September. Passenger vehicle sales dropped to 2,23,317 units, while passenger car sales dropped by 33.4 per cent to 131,281 units. Source India
- Two rockets struck an Iranian tanker traveling through the Red Sea off the coast of Saudi Arabia on Friday, Iranian officials said.
- It is the latest incident in the region amid months of heightened tensions between Tehran and the U.S.
- Iranian state television said the explosion damaged two storerooms aboard the unnamed oil tanker and caused an oil leak into the Red Sea near the Saudi port city of Jiddah. Source CNBC
