Briefing 2023-11-19

Property sales dive, as middle-class struggles to cope with shocks
Property developers' earnings have plunged as their larger consumer segment, the middle-class, are running short of savings. The overall construction cost went up 20 per cent in FY23, compared to FY22, leading to a jump in apartment prices. On the other hand, persistently high inflation reduced people's purchasing power, as they are spending more on their priority needs. Page 9
Biden faces dissent within own admin
US President Joe Biden is under growing pressure to rein in Israel's military campaign against Hamas in Gaza. The growing civilian casualties and desperate humanitarian conditions have alarmed Arab allies, but also stirred an extraordinary level of criticism from within his own administration. Page 11