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Property, of course – good old ‘bricks and mortar’ – still looks in many areas like the best long-term investment. Personally, I’ve always been drawn to property and have chosen it as my principal ‘piggy bank’ my whole adult life. When banks are crashing right, left and centre, there is something deeply reassuring in an asset which you can see, touch (albeit occasionally need to repair the roof of). And proceeds of the sale of your own home, of course (because there comes a point when we all need to downsize) are free of Capital Gains Tax: there’s something deeply galling about getting an 0.5pc return on money on deposit with a bank, and then having to pay tax on the interest, even if it is diddly-squat.
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"HSBC first proposed abandoning its stake in DES to Iraqiinvestors. We asked them the reason for abandoning its stake andthe mechanism for transferring the stake, but they neverreturned with answers," ISC chairman Abdul Razzak al-Saadi toldReuters.
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