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The local benchmark Hang Seng index fell 1.3 percent on Friday and is almost 13 percent down from its year-to-date highs in February.
LONDON – Twenty of the world's largest banks were censured by Singapore authorities on Friday over the attempted manipulation of local benchmark interest rates that is part of a larger rate-rigging scandal being investigated by global regulators.
The so-called Mietpreisbremse or "rental price brake" was introduced two years ago with the aim of barring landlords in property hotspots from increasing rents by more than 10% above a local benchmark.
As part of its investigation, the Monetary Authority of Singapore said 133 traders at firms like Credit Suisse, Citigroup and ING tried to influence the local benchmark rate for their own financial gain over a five-year period starting in 2007.
Rare cases aside, Conway will immediately dump any loser that underperforms its local benchmark by 15%.
The local benchmark, the Bombay Sensex index, blew past the 10,000 mark earlier this year, paused briefly, and then blasted through the 12,000 barrier to above 12,600 (an all-time high) in May.
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Financial regulators in Asia are focusing on whether local benchmarks can be manipulated in the same way as Libor.
Policies that use local benchmarks to improve quality and hold down costs may be an effective and feasible way to achieve these goals.
With the onus on tenants to check the rental increase against the local benchmarks, rents in Germany's large cities have continued to rise.
In comparison to local benchmarks, the environmental impact of buildings during operation lies between that of embodied energy in buildings and mobility in the service sector (business flights).
We estimated that an increase in close to 4% of today's average efficiency of photovoltaic technology would allow the area to comply with those local benchmarks.
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