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NEW YORK Authentic Adam Larsson Jersey , May 29 (Xinhua) -- The U.S. dollar mixed against other currencies Friday as the second read of U.S. first-quarter gross domestic product (GDP) came out negative.

The U.S. Commerce Department announced Friday that the second estimate of real GDP decreased at an annual rate of 0.7 percent in the first quarter of 2015. It had estimated last month that the economy expanded 0.2 percent in the first quarter.

Traders are closely watching the progress of the Greek debt situation. European official said Thursday that the two sides still had some way to go before any agreement could be concluded.

In late New York trading, the euro gained to 1.0980 dollars from 1.0957 dollars of the previous session, and the British pound decreased to 1.5290 dollars from 1.5322 dollars. The Australian dollar went down to 0.7655 dollars from 0.7656 dollars.

The dollar bought 124.06 Japanese yen, higher than 123.89 yen of the previous session. The dollar moved down to 0.9401 Swiss francs from 0.9426 Swiss francs, and it moved up to 1.2445 Canadian dollars from 1.2423 Canadian dollars.

DUBAI Authentic Kris Russell Jersey , June 22 (Xinhua) -- Real estate in the United Arab Emirates (UAE) is likely to lead to a moderate 10 to 20 percent correction in Dubai residential real estate prices, acording to the rating agency Standard and Poor's (S&P) in a study released Monday.

The UAE real estate market, after years of thriving during the rebound following the Great Recession, increasingly shows signs of exhaustion. "After reaching a peak in 2014, the property market in the UAE is set to soften in 2015 and early 2016 Authentic Wayne Gretzky Jersey ," said the S&P report.

Dubai housing prices fell slightly in the first quarter of 2015 - with apartments down 2 percent and villas down 1 percent - compared with the final three months of last year, according to property consultants JLL and CBRE.

The main driver behind the decline is the slump in oil prices and the steady flow of new units entering the market as according to REIDIN, 20,170 additional units are expected to be delivered in 2015 in Dubai.

"Given the role of this commodity in the region, domestic economic growth in the UAE is likely to stagnate markedly in 2015 and 2016 Authentic Connor McDavid Jersey ," said S&P credit analyst Franck Delage.

Oil prices plummeted to half price from June 2014 to February this year, triggering the Washington-based International Monetary Fund to slash its growth forecast for the UAE's economy - a member of OPEC and a major oil supplier - to 3.2 percent for 2015, down from its earlier projection of 3.5 percent.

Delage added that "While we expect somewhat of a correction in the residential real estate market after three years of sharp price appreciation - it should be nothing close to what led to the Dubai crisis in 2009, though."

Back in December 2009, Abu Dhabi Authentic Leon Draisaitl Jersey , the oil-rich capital of the UAE, rushed to bail out Dubai's state-owned holding Dubai World and its developer Nakheel with a 10 billion dollar loan, following a slump of up to 80 percent in real estate prices and a dried-out credit market.

Despite an expected correction of up to 20 percent in some districts of Dubai, S&P expert Delage said that currently real estate companies are better equipped to deal with the current slowdown and should be able to absorb it with limited ratings impact.

"The diverse economy, positive demographics Ryan Nugent-Hopkins Jersey , and protective measures from local regulators should help prevent a crisis similar to that of 2009," said the S&P credit analyst. Oil contributes 29 percent to the UAE's gross domestic product, compared to 50 percent in Kuwait.

In addition, a stronger capital structure and a good revenue mix should allow issuers to withstand headwinds over the next 12 to 24 months, Delage pointed out.

Abu Dhabi Oscar Klefbom Jersey , on the other hand, is experiencing a shortage of quality housing, which is why rent prices will continue to climb, albeit at a much slower pace than the 11 percent of 2014, he said.

Why to choose iPhone app development for your business?

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