On June 22, the New York City Council passed legislation that will prohibit commercial property owners from knowingly leasing commercial premises to, or otherwise allow the use of such premises by, unlicensed sellers of cigarettes, electronic cigarettes, tobacco products, or … Continue reading →
Struggling with dollar scarcity, the Central Bank of Argentina (BCRA) announced on June 29 that it has incorporated the renminbi yuan as an accepted currency for deposit-taking in savings banks and checking accounts, enabling financial entities to open bank accounts … Continue reading →
A new law, which goes into effect on July 1, 2023, instructs the Director of the Department of Housing and Community Development to develop and operate a Virginia Residential Sites and Structures Locator database “to assist localities in marketing any … Continue reading →
According to LegiScan, House Bill 2127 (known as the “Texas Regulatory Consistency Act”) was signed into law by Gov. Greg Abbott on June 14 and will go into effect on September 1. According to the bill text, “[t]he purpose of … Continue reading →
The New York legislature passed the LLC Transparency Act (Bill No.: A03484A) on June 20. According to the Bill Memo, the bill aims to end the practice of anonymous ownership of limited liability companies in New York by defining beneficial … Continue reading →
Minimum Energy Efficiency Standards (MEES) are regulations requiring a minimum energy efficiency standard to be met before properties in England and Wales can be leased or sold. The standards are measured by an energy performance certificate (EPC) rating. According to … Continue reading →
A total 576 U.S. banks exceeded regulatory guidance on CRE loan concentration by the end of Q1–2023, an increase of 30.3 percent compared with a year earlier, according to S&P Global Market Intelligence. Regulators increase their scrutiny of banks that … Continue reading →
In November 2022, Reuters reported that The Trump Organization has partnered with Saudi developer Dar Al Arkan, to license the Trump Brand to a $4 billion project in Oman that includes a golf course, hotel and villas. Named AIDA, the … Continue reading →
South Africa is experiencing a 15-year power crisis that is causing widespread rotational power cuts, known as loadshedding. In 2022, there were 3,773 hours of loadshedding (the most intensive year of loadshedding in South Africa’s history), according to CleanTechnica. The … Continue reading →
The Canada Mortgage and Housing Corporation reports that as of 2021, the country’s household debt was at 107 percent of its GDP, and its “very high levels of household debt … makes the economy vulnerable to any global economic crisis.” … Continue reading →