Money Briefs: Merger creates India's top real estate portal

Merger creates India's top real estate portal

NEW DELHI • Indian real estate websites PropTiger.com and Housing.com are merging to create the country's top portal for residential listings and property services, as Mr Rupert Murdoch's News Corp boosts its investment in the growing sector while Mr Masayoshi Son's SoftBank Group scales back.

REA Group, an Australian real estate company controlled by News Corp, is putting US$50 million (S$71.75 million) into the new joint entity, while a SoftBank-owned affiliate is investing US$5 million.

BLOOMBERG


Bright prospects for Indonesian stocks

JAKARTA • Indonesia's record low interest rates will drive almost US$12 billion (S$17.2 billion) into domestic equities this year, helping the market extend a run that was South-east Asia's second best last year, the head of the stock exchange, Mr Tito Sulistio, said.

BLOOMBERG

A version of this article appeared in the print edition of The Straits Times on January 11, 2017, with the headline 'Money Briefs'. Print Edition | Subscribe