Briefs, February 22, 2013

PUBLISHED : Friday, 22 February, 2013, 12:00am
UPDATED : Friday, 22 February, 2013, 5:02am


US home sales rise, supply at 13-year low

US home resales edged higher last month and left the supply of homes at its lowest level in 13 years, a sign that steam is gathering in the US housing market. The National Association of Realtors said sales of existing homes rose 0.4 per cent to a seasonally adjusted annual rate of 4.92 million units, the second-highest since November 2009. Reuters


Excavator plant ramps up as demand revives

Hitachi Construction Machinery, the world's third-biggest maker of building equipment, has restored operations in China after closing its plant in Anhui province for half a month last year as the economy cooled. The excavator plant has gradually increased production since the end of the year as demand for small diggers used in housing construction recovers. Bloomberg


Ailing Dexia posts €2.87b net loss

Dexia, the bank being wound down after two bailouts, reported a €2.87 billion (HK$29.4 billion) net loss for last year as it sold most of its remaining lending units. Dexia was forced into nearly complete government ownership as Belgium and France bought €5.5 billion of preferred stock in December. Bloomberg