Economic activity strong says RBA

first_img Facebook Twitter: @NeosKosmos Instagram The Reserve Bank of Australia, in the released minutes of the May meeting of its Board this week, states that overall, the pace of economic activity had increased over the previous six months, with the economy looking to have grown at around its long-run average pace in the March quarter, driven by especially strong growth of exports. With this pace of export growth unlikely to be sustained, output growth is expected to be somewhat slower over the next few quarters says.The housing market continued to be an area of strength in the economy, stated Australia’s central Bank. Although the most recent data had indicated a decline, dwelling approvals remained at high levels and the flow-on to commencements pointed to strong growth in dwelling investment in the first half of 2014. Across Australia, housing price inflation had eased somewhat in recent months from the earlier rapid pace, with auction clearance rates edging back and housing loan approvals stabilising. Other indicators, such as turnover, first home owner grants and loan approvals for new housing, remained consistent with strong demand for both established and new housing. Source: RBAlast_img read more

Hotel expansion request for Playa Maroma project denied

first_imgSolidaridad, Q.R. — The application for a real estate project in north Playa del Carmen has been denied by government officials who say the environmental impact statement submitted with the request was not sufficient.The application to expand the Playa Maroma Property Project was denied building permission by the Secretariat of Environment and Natural Resources (Semarnat) who say that the Environmental Impact Manifestation did not have the needed information to carry out construction.An extract of their decision says “…the project will be developed in the Environmental Management Unit called the Punta Brava-Xcalacoco Tourist Corridor which has a conservation policy (…)“Authorization will only be granted when the applicant agrees with the municipality to cover, at its expense, all the necessary expenses to eliminate or minimize the negative effects that may be caused by the construction and operation of the property detected in the study and opinion cited.”The application was for the expansion of a project that would have added an additional 200 hotel rooms along with pools, a tennis court and a parking lot to an existing project that currently offers 423 rooms.The Playa Maroma Property Project would have been built across approximately six hectares of forest with an investment of $29 million USD.Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on WhatsApp (Opens in new window)last_img read more