South Korea has imposed stricter mortgage limits on first-time buyers in Seoul and nearby areas due to rising apartment prices. Borrowing is now limited to 40% of a property's value, down from 70%, and the maximum loan is capped at 600 million won (around USD 421,000), regardless of income. These are the third set of restrictions since President Lee Jae Myung took office, targeting worsening affordability in the capital. With a price-to-income ratio of 21.3, Seoul now surpasses London and Sydney, highlighting the pressing challenges for new buyers in the city.Read more

Bellway CEO Jason Honeyman has called on the UK government to eliminate stamp duty for first-time buyers and implement a long-term deposit assistance scheme to help young adults enter the housing market. With affordability pressures and low consumer confidence dampening demand, homebuilders are struggling despite incentives like deposit top-ups and discounts. Honeyman highlighted that many young buyers lack family financial support, emphasizing the need for government intervention. The move aligns with the Labour government's focus on housing, aiming to boost market activity and support economic growth.Read more

Roundhill Investments has relaunched its meme-focused ETF under the symbol MEME to track retail investor trends and popular stocks. The actively managed fund differs from its original passive version by focusing on trading volume and volatility and rebalancing weekly. Its holdings include Opendoor Technologies, Plug Power, and Rigetti. Analysts note that retail investors now represent 10-20% of overall trading, with even higher influence on meme stocks. The ETF aims to reflect both market movements and the cultural trends shaped by online investor communities.Read more

South Korea's Daewoo Engineering & Construction has begun constructing a USD 780 million fertilizer plant in Turkmenabat, Turkmenistan, as the country seeks to diversify its economy beyond natural gas exports. The facility will produce 350,000 metric tons of phosphate fertilizers and 100,000 metric tons of ammonium sulfate each year. President Serdar Berdymukhamedov attended the groundbreaking ceremony, reflecting the project's national significance. Scheduled to be completed within three years, the plant highlights Turkmenistan's push for industrial growth, higher-value production, and greater export potential, marking a notable step in reducing reliance on natural gas revenues.Read more

BlackRock's third-quarter performance shows robust growth, with assets under management reaching a record USD 13.46 trillion. Market gains, supported by resilient U.S. consumer spending and easing interest rates, increased fee income and drove investor inflows, especially into ETFs and fixed-income funds. Long-term net inflows totaled around USD 171 billion, offsetting higher costs from its acquisition of HPS Investment Partners and weaker performance fees. Adjusted earnings rose to USD 1.91 billion, reflecting both the inflows and the firm's continued organic growth, underscoring its strong position in global asset management.Read more

Sunac China has received overwhelming creditor approval for its offshore debt restructuring proposal, marking a significant move towards financial stabilisation amid China's prolonged property crisis. The plan, endorsed by 98.5% of voting creditors representing 94.5% of total claims, covers about USD 7.96 billion in offshore debt. The developer is now seeking final court approval in Hong Kong, as other major Chinese developers, including Country Garden and China Vanke, also navigate complex restructuring and debt relief processes.Read more

New Zealand's Central Bank announced plans to ease mortgage loan-to-value ratio (LVR) restrictions from early December, citing stabilised housing prices following a prolonged decline. The move aims to offer banks greater lending flexibility and improve credit access, particularly for first-time homebuyers. With house prices now around 16% below their 2021 peak and lending growth remaining moderate, the Reserve Bank of New Zealand said the timing was appropriate for adjustment, while retaining existing debt-to-income restrictions to maintain borrower resilience.Read more

Chinese retailers have expanded their annual Singles' Day sales to a record five-week period to stimulate consumer spending amid a slowing economy. Alibaba and JD.com are offering deep discounts, subsidies, and rapid delivery options, while integrating AI into search and recommendation tools. Early results show strong sales from major brands, yet consumer interest is cautious. Analysts expect growth in personal care, apparel, and electronics, while home appliance sales may decline compared to last year. The extended event reflects efforts to encourage consumption despite domestic economic pressures and weak retail demand.Read more

Swiss medical technology company Ypsomed plans to build its first U.S. manufacturing facility in Holly Springs, North Carolina, with an initial investment of USD 200 million. The plant will create around 100 jobs, potentially doubling in the coming years, and is expected to start supplying the U.S. market by late 2027. Amid 39% U.S. tariffs on Swiss goods, the expansion complements Ypsomed's recent plant in China, investment in Germany, and domestic production growth in Switzerland. The move aims to meet increasing global demand and strengthen supply reliability in the U.S.Read more

Following a recent peace summit in Sharm El-Sheikh, Egypt, FIFA President Gianni Infantino announced the organization's commitment to assist in rebuilding football infrastructure in Gaza as part of broader post-war reconstruction efforts. This initiative includes restoring facilities destroyed during the conflict, launching a fund for new pitches and youth programs, and collaborating with the Palestinian Football Association to create opportunities for children through the game. FIFA aims to contribute mini-pitches and "FIFA Arenas" and invites other partners to join the effort.Read more