New York rents rise

Residential rents in New York rose by 0.9% in February, marking the largest one-month increase in more than six years, according to the U.S. Department of Labor.

Further signs of a Japanese recovery

The average price of land in Tokyo rose for the first time in 15 years in 2005, according to a survey conducted by the Japanese Ministry of Land, Infrastructure and Transport.

The average price of commercial land in Tokyo rose by 2.9% in 2005 compared to the previous year, while average residential property prices were up by 0.8% during the same period.

In fact, the survey shows that both commercial and residential land prices rose in all 23 central wards in Tokyo.

"The survey clearly shows that the Japanese economy is now witnessing easing deflationary pressure, and that the overrated deflation in asset prices is now set for a correction," Daiwa Institute of Research senior economist Junichi Makino said.

Poor construction puts lives at risk

Lives are said to be at risk in Portugal, and m any of Portugal's public buildings would not withstand an earthquake or other form of natural disaster, due to fragile construction work, according to new research

The report by the National Civil Engineering Laboratory estimated that a serious earthquake would result in the collapse of 16,500 buildings, causing up to 11,000 deaths.

Much of Portugal lays on a geological fault line, according to Carlos Martins, a professor at Universidade do Algarve.