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Papal Conclave Boosting Rome’s Struggling Recession Hit Economy and Hotel Business

As the rituals of selection of a new Christian head- the Papal Conclave starts Tuesday, March 12, Rome will not only welcome a new pope but has also been garnering economic hope. Since the announcement of Pope Benedict XVI’s resignation, Pilgrims have been flocking the Italian capital, boosting business for hotels and souvenir shops.

Overseas Union Enterprise to Buy Tallest Tower in California, US Bank Tower

Overseas Union enterprise Ltd. (OUE), a major Singapore based hospitality and property group has announced that it will be buying the U.S. Bank Tower in downtown Los Angeles, California for $367.5 million in a bid to expand its portfolio in the country.

Exploring the Empty Ghost Cities of China (VIDEO)

Chinese cities might look like some of the most modern and urban developments of the world but they are all empty! A news segment, ‘60 Minutes’ by CBS News explores the grim housing scenario in China. The housing bubble has been called a “disaster waiting to happen” by the report.