IMF head remains in New York prison; charged over alleged hotel sex attack

Sunday, May 15, 2011

This sordid episode—no matter how it ultimately plays out—will spell the end of Strauss-Kahn as an effective leader of the IMF even if he retains his position, which is highly unlikely.

Dominique Strauss-Kahn, the head of the International Monetary Fund, remained in jail last night after being charged with sexually attacking a chambermaid at a New York City hotel. Strauss-Kahn has agreed to undergo forensic screening before he appears in court, and has vowed to “vigorously” defend himself against the charges, which are likely to create a leadership void at the IMF, disrupt emergency talks over the European debt crisis, and spell the end of his political career.

Strauss-Khan was the favourite candidate for the French presidency, and was expected to announce he would stand against Nicolas Sarkozy this month. But the allegations are expected to destroy the hopes of his supporters, increase infighting among the French left, and leave his political career in tatters. His arrest comes at a critical moment for the IMF, and will likely plunge efforts to stabilise the financial states of struggling eurozone countries into chaos. He was meant to discuss the bailouts of Greece and Portugal with European Union financial officials at a meeting in Brussels this week.

Eswar Shanker Prasad, a professor of international economics at Cornell University, said: “This sordid episode – no matter how it ultimately plays out – will spell the end of Strauss-Kahn as an effective leader of the IMF even if he retains his position, which is highly unlikely.” The IMF, however, insisted it remained “fully functioning and operational.”

Strauss-Kahn was to appear in court in Manhattan yesterday charged with three crimes, including attempted rape, but the hearing has been delayed so he can undergo forensic tests. He was taken into custody by officials while on an Air France passenger plane which was about to take off from John F. Kennedy International Airport for Paris; when detectives approached him in the first class cabin in the aircraft he reportedly asked: “What is this about?” Strauss-Kahn reportedly fled the hotel “in a hurry” after the attack, leaving a number of personal effects behind. “If our officers had been ten minutes later he would have been in the air and on their [sic] way to France,” a spokesperson for the New York Police Department said.

The chambermaid reported that she had been sexually assaulted by a man staying in a “luxury suite” at the Sofitel hotel near Times Square. “The maid described being forcibly attacked, locked in the room and sexually assaulted,” the police spokesperson said. Strauss-Kahn came out of the shower naked while the chambermaid was working in the room, tried to pull the woman onto the bed and locked the door, The New York Times reported, quoting police sources. She allegedly fought him off, but he sexually assaulted her again after dragging her to the bathroom, before he locked her in the room; she was reportedly hospitalized afterwards with trauma.

In 2008, a year after becoming the leader of the IMF, Strauss-Kahn was reprimanded by the organization’s board after being involved in an extramarital affair with another senior executive at the bank. More recently, he was pictured driving a luxury car in Paris, causing a media furore over whether his lifestyle fitted with the socialist attitude he claims to represent. But his wife, former television star Anne Sinclair, has dismissed the accusations. She said: “I do not believe for one second the accusations brought against my husband. I have no doubt his innocence will be established.”

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Bangladesh security tightened following Pilkhana massacre and Bashundhara City fire

Friday, March 20, 2009

Following the Pilkhana massacre which occurred February 25 and 26 leaving 74 dead and the inferno at the Bashundhara City shopping mall complex March 13 leaving seven dead, Prime Minister Sheikh Hasina said security measures are being tightened countrywide across Bangladesh.

Fire drills will be enacted at all key-point installations (KPI). Fire fighting systems will be examined by the fire brigade and the public works department (PWD) to ensure functionality. Security measures will be enhanced supplementing areas under private security such as at the Bashundhara City Complex.

The Fire Service and Civil Defence Department requires modernization and needs new equipment to fight fires past the sixth floor of buildings. The Fire Brigade says it needs turntable ladders, snorkels, foam-tenders, lighting units, emergency tenders, fireproof uniforms, and rescue ropes for fire fighting and rescue operations. Transportation to fires is also an issue due to narrow roads, low electrical wires and congestion.

The Bangladesh National Building Code requires fire fighting equipment installed in buildings over seven floors. This code is to be monitored by authorities to ensure compliance with the new guidelines and to make sure buildings are being maintained.

The Bashundhara City Complex opened Monday for shoppers two days after Friday’s blaze. A probe is underway to determine the cause of the fire and to assess structural damage.

Loss of life was minimized as the blaze broke out on a Friday, the beginning of the weekend in Bangladesh, so offices in the upper floors were empty. The lower eight floors are used for shopping and the upper floors are all Bashundhara Group offices.

The mall is valued at Tk 7.0 billion (US$100 million). It is not known if the complex is covered by fire insurance.

It is estimated that it will take over two years to rebuild the area damaged by flames which were burned down to a skeleton. Bashundhara City’s technical advisor, Latifur Rahman, estimated damages at Tk 2.0 billion (US$29m).

Only one television cameraman has been allowed in to film the burnt area. None of the 2,500 shops, cinemas or cafes were burnt by the inferno. The seventh and eighth floors still experience smoke damage, and there was water damage to merchandise.

A three member committee is currently investigating the cause of the fire which will consist of Iqbal Khan Chowdhury, joint secretary of the ministry, representatives of the police, IGP Noor Muhammad, and fire brigade, Director General Abu Nayeem Md Shahidullah. The committee is required to report within the week with their findings. The forensics department is also sifting through the burnt remains.

The Dhaka Chamber of Commerce and Industries has also formed a committee which has begun interviewing witnesses and recording their testimony alongside the government committee.

It has been discovered that 150 closed circuit cameras were not being used when the fire started. Another mystery is why the mall fire fighting system has been found unused.

Why the fire burnt so fiercely is a matter to think….These matters seem to be mysterious

“In the shopping mall there is an ultra-technology elevator which runs even without electricity but we have found that locked,” Iqbal Khan Chowdhury, joint secretary (Police) of the home ministry, said. “Why the fire burnt so fiercely is a matter to think. We have to see if there was any incendiary substance there. These matters seem to be mysterious.”

Mall management has been asked to submit substances and items which would have been in the upper floors when the fire started. The fire erupted on the 17th floor and spread quickly to the two floors above and engulfed the three floors below. The aerial ladders belonging to the Fire Service and Civil Defence reached as high as the 13th floor of the 21-storey building.

Videos have been sent to the United States (US) for examination to assist in determining the cause of the fire and to help in the damage assessment. Experts from the US are expected to arrive soon.

Firefighters were brought to the rooftop of the 20-storey tower by helicopter. The only fatality in this operation was Baki Billa, a firefighter of Bashundhara City firefighting department, who fell when climbing down a rope from a helicopter to the roof of the building. Three other firefighters made the transition safely. At this same time, the chief security officer was safely rescued by the Bangladesh Air Force helicopter, a Bell 212. Six security officers of the complex also lost their lives.

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Doctor robbed, car-jacked and locked in boot while car set alight

Monday, March 19, 2007

A 34 year old obstetrician from Forestville on Sydney’s Northern Beaches has escaped after he was robbed, car-jacked and locked in the boot (trunk) of his BMW, which was set alight. Police say the doctor was locked in the boot while his car was set alight, but was allowed to escape before flames engulfed the vehicle.

The Doctor was believed to have been heading to The Mater Hospital in North Sydney when he was waiting at the intersection of West and Falcon Streets in Chatswood around 3:15AM AEDT when a small red sedan with two men claiming to be police officers signalled him to stop. After crossing the intersection, the doctor stopped his car at the side of the road.

The doctor was then approached by the two men and when he asked to see identification, one man grabbed the keys from his car’s ignition before they both pulled the doctor out of his vehicle, hit him in the stomach with a hammer and stole his mobile phone and wallet. The robbers also demanded his key and credit cards along with their access codes before locking him in the boot.

Police allege that the men drove to several locations to withdraw cash and buy things before driving to Carisbook Street in Linley Point at around 4 a.m. local time where they set the car alight with the doctor still in the boot.

Crime Manager of the Harbourside Local Area Command, Detective Inspector Houlahan said that the doctor then “heard a click in the boot area and he heard someone call out: ‘Get out of the car'”

“When he pushed the boot up he found his car engulfed in flames.”

Det. Insp. Houlahan said the doctor told police he did not unlock the boot himself, and it appeared the man’s captors unlocked it before fleeing.

Det Insp Houlahan said that the doctor appeared to be “very distraught” and tired after the ordeal, and wanted to get home and see his wife and two young daughters.

He could only provide police with a vague description of his captors, but said the men were both Caucasian males aged in their 20s, and that one of them was about six feet tall (183cm) with short blond hair and medium build said Det. Insp. Houlahan.

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Play Blackjack Online Free: An Overview Of Enjoying The Game On The Internet

In 2008, there was a movie about blackjack entitled 21 that glamorized the game to the point that it became a hit and it has made a lot of people follow blackjack.So for those of you just starting in the game and want to know more, we created this article which gives you an overview of blackjack and how it is played not only in land-based casinos, but now more popularly more than ever how it is played online.Play Blackjack Online Free : An Overview of Enjoying the Game on the Internet # 1: Blackjack is not only a game of luck, but it is also a game of skill.Play Blackjack Online Free: An Overview of Enjoying the Game on the Internet # 2: You can be good at blackjack and make a lot of money if you know how to do card counting.Play Blackjack Online Free: An Overview of Enjoying the Game on the Internet # 3: When you play blackjack online, you will notice that it is also the same as those being played in land-based casinos. Play Blackjack Online Free: An Overview of Enjoying the Game on the Internet # 4: In our experience, playing online has more advantages than playing in land-based casinos.Play Blackjack Online Free : An Overview of Enjoying the Game on the Internet # 5: In online casinos, you save money you will be spending on gas, food, accommodations and even the money you give on tips to the dealers in the casino.Play Blackjack Online Free: An Overview of Enjoying the Game on the Internet # 6: When you play blackjack online, you will find that these casino sites give you a sign in bonus which is as good as cash. Of course, you have to follow the rules before you claim the sign in bonus but in the long run, it is additional money for you to play.Play Blackjack Online Free: An Overview of Enjoying the Game on the Internet # 7: In a land-based casino, there is one dealer to one up to five players and you compete with and try to beat the dealer in the game.Play Blackjack Online Free: An Overview of Enjoying the Game on the Internet # 8: In the online version of blackjack, the player competes with the dealer on a one-on-one basis.Play Blackjack Online Free: An Overview of Enjoying the Game on the Internet # 9: The basics of blackjack consists of the winner getting a hand closest to 21. If you go over the value of 21 then you bust out. A face card is valued as 10 and cards from 2-10 are counted according to their face values.

India discontinues ?500, ?1000 denominations; releases ?2000 and new ?500 bills

Monday, November 14, 2016

On Wednesday, India demonetised ?500 (about US$7.50) and ?1000 notes, announced as a measure to fight corruption, fake notes, and black money. Prime Minister Narendra Modi addressed the Indian citizens late Tuesday, and said 500 and 1000 rupee notes would cease to be legal tender at midnight.

To minimise possible difficulties to citizens, transactions using old 500 and 1000 rupee notes were accepted at government hospitals, railway ticket bookings, government buses, and airports. The notes were also accepted at public-sector petrol-pumps, government-authorised consumer co-operative stores, milk booths authorised by State governments, and cremation grounds till Friday midnight. These shops were obliged to have a record of their stocks and sales.

In his announcement, Modi said, “For your immediate needs, you can go to any bank, head post office or sub post office, show your identity proof like Aadhar card, voter’s card, ration card, passport, income tax PAN card number or other approved proofs and exchange your old 500 or thousand rupee notes for new notes.” ((hi))Hindi language: ??????? ???????? ?? ??? ???? ?? ?? ?? ???? ?? ?????? ????? ?? ??? ??? ?????? ????? ?? ??? ?? ????? ?? ??? ?????? ?? ?? ???? ?? ???? ?? ?????? ?? ?? ??? ?? ?? ?????? ?? ???? ????? ????, ???? ??, ???? ?????, ?????? ?????, ???? ?????, ????????, ???? ????? ??? ????? ??????? ???? ?? ??? ??? ??? ???? ?? ??? ??? ???? ???

Modi also announced those who failed to change their currency till December 30 can exchange the notes at Reserve Bank of India (RBI)’s office along with a declaration form till March 31. The notes can be exchanged till December 30 at any branch of any bank across India.

By Saturday, Finance Minister Arun Jaitley said demonetised money equivalent to almost US$30 billion was deposited in banks across India. According to estimate, the old notes accounted for 85% of the total money in circulation. New 500 rupee and 2000 rupee notes are to be issued. Modi said RBI would exercise caution from past experience and limit the circulation of large-value notes.

International tourists could purchase up to 5000 rupees using the old notes at airport exchanges till Friday.

A limit was imposed on cash withdrawal; a maximum of 10000 rupees each day, and 20000 rupees each week, can be withdrawn. Moreover, from Thursday (November 10) till November 24, 4000 rupees can be exchanged in the banks and post offices. The amount is credited to the bank account.

Government workers were informed about demonetising when the announcement was made. Modi announced all banks would remain closed for public work on Wednesday.

In the United States, Donald Trump won the 2016 presidential election on Tuesday, immediately after which stock markets dropped globally. Following the US election and demonetising the money, the Indian stock market fell by 1700 points on Wednesday. Sensex lost 1,688.69 points and Nifty lost 111.55 points on the same day. Indian technology sector companies experienced loss. TCS suffered 4.93% loss and Infosys lost 2.74%.

The Indian rupee is also used in the neighbouring countries of Bhutan and Nepal. The border area uses Indian currency for day-to-day transactions. The Royal Monetary Authority of Bhutan (RMA) has announced the exchange of old notes will be facilitated till December 15. RMA governor Dasho Penjore informed Indian news site The Wire, “We do not know exactly how much Indian currency of Rs 500 and Rs 1,000 is in circulation in Bhutan. We will get a better idea after the deadline to deposit their amount”. RMA has 30% of its international exchange reserve in Indian rupees. Nepal Rastra Bank directed all Nepali banks to stop conducting transactions using the Indian rupee.

On Thursday, there were long queues in front of ATMs and banks to exchange the old notes and withdraw money. BBC reported some banks ran out of cash. Police were called to some banks to maintain discipline. Banks were open on Saturday and Sunday for money exchange.

Shops did not accept the old 500 and 1000 rupee notes. Some emphasised cash-less transaction as well. BBC reported some traders and small business owners in Delhi threatened to call a strike as this move affected their business.

eRetail websites like Amazon and Flipkart announced they would not accept the old 500 and 1000 rupee notes on Cash on Delivery orders. Amazon also announced 15% discount on gift cards worth 500 or 1000 rupees.

The government ceased all transactions using the old 500 and 1000 rupee notes before Saturday. But a Wikinews correspondent noticed a jeweler shop accepting the demonetised notes on Saturday. When questioned, the jeweler said they were accepting the old notes only on purchase. When the correspondent, who did not identify as a reporter to the shop owners, said the old 500 and 1000 rupee notes were not legal money, they said they will exchange the notes in a bank since there were 50 days to exchange with a new and legal tender. They refused to exchange old 500 rupee notes with change, asserting the customer needs to buy merchandise from their shop.

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United States spies accused of illegally bugging the United Nations headquarters

Monday, August 26, 2013

German weekly publication Der Spiegel yesterday accused the United States’ National Security Agency (NSA) of spying on the United Nations headquarters in New York. The magazine claims to have access to official NSA documents, provided by former NSA and CIA computer specialist and current fugitive Edward Snowden.

If the allegations of bugging are confirmed, it would mean that the United States has breached International Treaties including the 1946 Convention on the Privileges and Immunities of the United Nations. The Treaty states that countries must not carry out covert operations that relate to the UN’s activities.

“The property and assets of the United Nations, wherever located and by whomsoever held, shall be immune from search, requisition, confiscation, expropriation and any other form of interference, whether by executive, administrative, judicial or legislative action”, the Convention stipulates.

The documents analysed by Der Spiegel indicate that the NSA runs bugging programs in more than 80 embassies and consulates across the globe, in what is reportedly called the “Special Collection Service”.

Der Spiegel claimed that, according to their intelligence, the NSA was able to bug the UN headquarters by hacking into its video conferencing system in the summer of 2012. Their article included quotes from the leaked documents like ““The data traffic gives us internal video teleconferences of the United Nations (yay!)”.

Allegedly, decoded UN communications rose from 12 to 458 within three weeks of the NSA gaining access. Analysed documents also indicated the NSA found evidence Chinese spies were also monitoring the UN, and began logging what the Chinese were accessing.

The UN’s nuclear watchdog in Vienna, the International Atomic Energy Agency, and the European Union are said to be among the organisations NSA spies have been targeting. The US government has previously denied any wrongdoing by the NSA, although President Barack Obama this month announced plans to curb government spying activities.

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How To Build A Successful Sales Team

byphineasgray

The sales team in your business is the start of every transaction you have ever had. Their performance has a direct influence on your bottom line, and your business’ success is tied to their abilities. When they are working well, your business is going to thrive. Slumps within your sales team are also going to be felt on your cash flow and business performance. Managing and growing your sales team is going to help your business flourish and grow. You can help build your sales staff through individual and team efforts.

[youtube]http://www.youtube.com/watch?v=WjFsw3fYf8g[/youtube]

Individual Motivation and Growth

Your individual team members are going to be from many different backgrounds, and they are going to learn and grow in different ways. It is important that you learn how they react and what motivates them as an individual. This is important information, and it will help you tailor your management style to fit each person the best. Efficiency in motivation comes from knowing what to offer, and who to offer it to. For example, junior sales staff members who are looking to learn and grow will be greatly motivated by training opportunities. As a manager, it is important that you recognize these traits in your team members, and use them to manage your team members effectively.

Importance of Team Building

A successful team of sales representatives are going to work together. While many sales activities are done on an individual basis, the team is still going to provide motivation, mentoring, and support to the rest of the group. You will want to foster a positive team environment, and this can be done through team sales training. This makes sure your sales methods are consistent, build team cohesion, and help you find the best way to manage the team as a whole. A solid team of sales professionals is going to provide better performance, and make your company money.

Bomb techs erred in South Los Angeles explosion, says city police department chief

Thursday, July 22, 2021

In a press conference Monday, Los Angeles Police Department (LAPD) Chief Michel Moore said their department’s preliminary investigation into a botched disposal of illegal fireworks on June 30 was due to an excess amount of explosives placed into a explosives disposal vehicle. The explosion occurred in South Los Angeles (L.A.), California, U.S. on East 27th Street, injuring seventeen and damaging vehicles and property.

Five members of LAPD’s bomb squad have been removed from duty, said Moore.

On June 30, LAPD officers discovered a cache of over 32 thousand lb (14,500 kg) of illegal fireworks at a South L.A. residence. Bomb disposal technicians responded by placing an estimated 16.5 lb (7.5 kg) of explosives, into a “total containment vessel”, or TCV, where they detonated the material. According to the U.S. Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF), technicians actually detonated 42 lb (19 kg) of explosives. The vehicle failed to contain the explosion and the blast injured seventeen people and damaged thirteen nearby businesses, 22 residences, and 37 vehicles.

The TCV’s capacity was 15 lb (6.8 kg) for repeated use, or 25 lb (11 kg) for single use, according to Moore. The containment truck had been used by officials for ten years, with the June 30 blast its 42nd usage.

ATF special agents are also investigating the LAPD’s actions. They expect to complete their investigation in the next one to two months.

The owner of the home where the fireworks were discovered, 26-year-old Arturo Ceja III, was arrested by LAPD and apprehended on suspicion of unlawful possession of destructive devices and child endangerment. Fireworks are illegal to possess in the City of L.A., and in unincorporated areas of L.A. County. Ceja posted the US$500 thousand bail for release. He is due back in state court in October.

Federal prosecutors charged Ceja III with the illegal transportation of explosives without a license. Prosecutors allege that Ceja III purchased the fireworks from Area 51, a fireworks dealer in Pahrump, Nevada, on the border with California. He was released on US$25 thousand bond pending arraignment, scheduled for August 2.

L.A. Councilmember Curren Price, Jr. criticized the LAPD’s bomb squad in a statement saying, “[i]t’s clear there was negligence involved and this instance shows zero regard for the people that reside in our South LA community. Every individual that I have talked to including myself wonder if this would have been acceptable protocol in more affluent areas of the City.”

The city opened a resource center for affected residents at the YMCA on East 28th Street, where residents can file claims against the city and receive referrals to mental health services.

On Tuesday L.A. City Attorney Mike Feuer said his office received 56 claims against the city, saying, “We’re trying to speed this up as much as we can […] this is an all-hands-on-deck effort to make sure that anybody who suffered because of that explosion gets relief as fast as possible, because they deserve it”.

Callers to Tuesday’s L.A. Police Commission meeting called for the police department to make reparations to affected city residents and businesses. Moore told the commission there were over 200 applications for claims seeking assistance.

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Sweden’s Crown Princess marries long-time boyfriend

Monday, June 21, 2010

Sweden’s first royal wedding since 1976 took place Saturday when Crown Princess Victoria, 32, married her long-time boyfriend and former personal trainer, Daniel Westling, 36. The ceremony took place at Stockholm Cathedral.

Over 1,200 guests, including many rulers, politicians, royals and other dignitaries from across the world, attended the wedding, which cost an estimated 20 million Swedish kronor. Victoria wore a wedding dress with five-metre long train designed by Pär Engsheden. She wore the same crown that her mother, Queen Silvia, wore on her wedding day 34 years previously, also on June 19. Victoria’s father, King Carl XVI Gustaf, walked Victoria down the aisle, which was deemed untraditional by many. In Sweden, the bride and groom usually walk down the aisle together, emphasising the country’s views on equality. Victoria met with Daniel half-way to the altar, where they exchanged brief kisses, and, to the sounds of the wedding march, made their way to the the silver altar. She was followed by ten bridesmaids. The couple both had tears in their eyes as they said their vows, and apart from fumbling when they exchanged rings, the ceremony went smoothly.

Following the ceremony, the couple headed a fast-paced procession through central Stockholm on a horse-drawn carriage, flanked by police and security. Up to 500,000 people are thought to have lined the streets. They then boarded the Vasaorden, the same royal barge Victoria’s parents used in their wedding, and traveled through Stockholm’s waters, accompanied by flyover of 18 fighter jets near the end of the procession. A wedding banquet followed in the in the Hall of State of the Royal Palace.

Controversy has surrounded the engagement and wedding between the Crown Princess and Westling, a “commoner”. Victoria met Westling as she was recovering from bulemia in 2002. He owned a chain of gymnasiums and was brought in to help bring Victoria back to full health. Westling was raised in a middle-class family in Ockelbo, in central Sweden. His father managed a social services centre, and his mother worked in a post office. When the relationship was made public, Westling was mocked as an outsider and the king was reportedly horrified at the thought of his daughter marrying a “commoner”, even though he did so when he married Silvia. Last year, Westling underwent transplant surgery for a congenital kidney disorder. The Swedish public have been assured that he will be able to have children and that his illness will not be passed on to his offspring.

Westling underwent years of training to prepare for his new role in the royal family, including lessons in etiquette, elocution, and multi-lingual small talk; and a makeover that saw his hair being cropped short, and his plain-looking glasses and clothes being replaced by designer-wear.

Upon marrying the Crown Princess, Westling took his wife’s ducal title and is granted the style “His Royal Highness”. He is now known as HRH Prince Daniel, Duke of Västergötland. He also has his own coat-of-arms and monogram. When Victoria assumes the throne and becomes Queen, Daniel will not become King, but assume a supportive role, similar to that of Prince Phillip, the husband of the United Kingdom’s Queen Elizabeth II.

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Guatemala Real Estate Listings Are Prospective Long Term Investments

Guatemala is known in Spanish language as Republica de Guatemala. The land area of Guatemala is about 109,000 sq. km. and the population is around 13,277,000. The capital is Guatemala City and the national language is Spanish. Another 22 indigenous languages are also spoken in this country. Guatemala is classified as a developing country but it is among the ten poorest nations in Latin America.

Guatemala possesses 14 separate eco regions consisting of 5 distinct ecosystems. In spite of the biodiversity, the earthquakes and volcanic eruptions are quite common in this country. Recently, Pacaya volcano erupted on May 27 and the capital city was blanketed with black sand, leaving 8 centimeters of sand and ash. The cleaning work had been continuing, while the international airport was opened after a brief closure. Still, these natural disasters had not discouraged international real estate investors from flocking to Guatemala for obtaining Guatemala real estate for sale and Guatemala rentals for bargain prices. The Guatemala real estate prices had been quite low due to the strong exodus of the local population to several other countries during the civil war and frequent fights between local gangs, with the United States being the major destination for those leaving the country.

[youtube]http://www.youtube.com/watch?v=XqIWPvCgi9g[/youtube]

The Pacific Coast is within 100 miles from the capital city of Guatemala. This provides a rare opportunity for international real estate investors to actively put their money in Guatemala real estate for sale and Guatemala rentals. The properties vary from vacation homes, large areas of vacant lands, commercial spaces, and beach front properties to urban homes and condos. The global depression of 2008 and the continuous migration of people to other countries had brought down the property prices in Guatemala significantly. These lower prices are actually a boon to international real estate investors to buy Guatemala real estate listings at bargain prices and profit from them in the next five to ten years in the industry does not offer short-term gains but prospects for long-terms profits definitely exist. In particular, Antigua, an enchanting Spanish town, and the areas surrounding it provide substantial Guatemala real estate investment opportunities to international property buyers. Several properties are available at significantly low rates, compared to the prices that prevailed in 2007.

Still, foreign investors would do well to understand the Guatemala real estate laws. Property sales tax is 12% and the annual property tax is also higher. Hence, most properties are registered at one-tenth of the actual selling prices. Corruption is rampant in Guatemala and foreign investors should become accustomed to that. They are allowed to purchase, maintain, and sell Guatemala real estate without any restrictions, except lands near rivers, oceans, and international borders. One main advantage for foreign investors is the law passed by the government in 2001, allowing foreign currencies Guatemala real estate transactions and hence buying properties directly with US dollars is not a problem.

Article Source: sooperarticles.com/real-estate-articles/property-investment-articles/guatemala-real-estate-listings-prospective-long-term-investments-428268.html

About Author:

Taylor White is an international real estate investor and leading the charge at International Real Estate Listings the worldwide leader in Guatemala real estate for sale, Guadeloupe real estate exchanges, and Guatemala rentals. Guatemala real estate owners, agents, and developers are encouraged to create an account, upload an unlimited number of listings, write as much creative property details, include a You Tube property video, and it will be activated as a basic listing for 6 months, free.Author: Taylor White