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11/11/2008 News For:

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Hospitality Properties' 3Q FFO down 12 percent   Hospitality Properties Trust said Monday its third-quarter results declined about 12 percent from a year ago on lower rental revenue. The hotel real estate investment trust's results, however, beat Wall Street estimates.

Financial climate slowing sale of AIG's Japan assets: report  The weakened balance sheets of prospective buyers is hampering American International Group's planned sale of three Japanese life insurance companies, according to a published report.

Damac Properties cuts 200 jobs  Damac Properties has been forced to lay off 200 employees at its Dubai office due to falling sales, reported The National. The job cuts have been made across divisions including sales, marketing, recruitment and administration.

AIG Sale of Japan Units Finds Hesitant Buyers, Nikkei Says  Nov. 11 -- American International Group's planned sale of three Japanese life insurance subsidiaries hasn't attracted the interest of would-be buyers in Japan, Nikkei English News reported, citing no one.

Hospitality Properties' 3Q FFO down 12 percent  NEWTON, Mass. Hospitality Properties Trust said Monday its third-quarter results declined about 12 percent from a year ago on lower rental revenue. The hotel real estate investment trust's results, however, beat Wall Street estimates.

Spratt's name floated for top Obama post   WASHINGTON ? U.S. Rep. John Spratt?s name is being floated for a post in the Obama administration that would take advantage of his economic expertise as chairman of the House Budget Committee. Spratt is at the top of a list of three possible directors of the White House Office of Management and Budget, The Associated Press reported last week. The New York Times and other publications also have ...

Lloyds TSB stops issuing mortgages for UAE flats  Lloyds TSB Middle East has stopped granting mortgages for UAE apartments and is now requiring a 50% down payment for villas. The bank says it has altered its mortgage product offering due to 'exceptional market conditions'.

DSGi denies Electro World 'up for sale' rumours   All part of the same ongoing review Electrical retail giant DSGi has denied a report that suggests the firm has put its unprofitable European store chain Electro World up for sale.?

1.5 Million Sheep To Be Imported For Hajj  RIYADH, Nov 11 Bernama -- A Ministry of Commerce's report said that the ministry is expecting to import one and a-half million sheep before the beginning of the Hajj season, with 500,000 alone for the Sacrificial Meat Project, Saudi Press Agency SPA reported.

Firms hope for revival on interest rate cut  Battered by the recent financial crunch, auto majors are hoping for a revival in sales by December as banks are expected to cut vehicle loan rates and also improve the liquidity in that portfolio.