Business news for Mon, 17 Dec 2007 & with word cent. 12 news.

TRAVEL agency franchiser Jetset Travelworld today increased its interim profit guidance, saying it expects 45 per cent growth in its "interim result" in the first half of 2008.

THE size of China's economy is overestimated by some 40 per cent, but it remains the world's second largest using a ranking based on purchasing power, the World Bank said overnight.

Statistics Canada says new motor vehicle sales declined again in October, slipping 1.4 per cent from September to 137,501 units. The decline was due to lower passenger car sales, which fell 4.9 per cent.

Real estate brokerage Royal LePage predicts house prices nationally will rise by 3.5 per cent to an average of $317,288 next year.

Centro shares drop by 76 per cent Banks forced to write off billions Aussie investors caught off guard

Hong Kong, Australia and Taiwan fell 3.5 per cent as regional markets took their lead from Wall Street and traders worried about tighter monetary policy in China, the US and Europe

THE stock market dived more than 3.5 per cent today to a three-month low after listed property group Centro said it was unable to redeem some investments.

Sedgwick County's 1-cent arena sales tax becomes history on New Year's Day.

THE stock market slumped more than 3 per cent in afternoon trading, amid concerns some local companies are being hurt by rising borrowing costs.

THE dollar was weaker by about one cent at noon, despite a morning rally that helped the local currency regain some of the ground lost over the weekend in the face of a stronger US dollar.

SECURITIES in Centro Properties Group plummeted more than 65 per cent today after it slashed its distribution forecasts due to higher funding costs.

SHARES in nickel hopeful Allegiance Mining have surged almost 40 per cent after a $697 million takeover bid from zinc miner Zinifex.