- China will invest some $5 bln in energy projects in Venezuela by 2012.
- The Indian government has allowed import of an additional 2 million tons of wheat at zero customs duty as part of measures to meet the shortfall in procurement. The Indian Government wants to boost stocks currently at some 8.2 million tonnes to 17.1 million tonnes.
From Barron’s 8/21/06
- 32.6% of new mortgages and home-equity loans in 2005 were interest only, up from 0.6% in 2000
- 43% of first-time homebuyers in 2005 put no money down
- 15.2% of 2005 buyers owe at least 10% more than their home is worth
- 10% of all homeowners with mortgages have no equity in their homes$
- 2.7 trillion dollars in loans will adjust to higher rates in 2006 and 2007
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