A creditor filed a petition for the bankruptcy of a unit of China Evergrande New Energy Vehicle (NEV) Group in a Shanghai court, the third such petition against the
September 05, 2024
Shares in major Hong Kong property developer New World Development plunged 13% after it estimated a net loss of as much as HK$20 billion ($2.6 billion) for the
September 02, 2024
Some Hong Kong developers are now turning to housing rental and the leasing market to weather a prolonged downturn in its property market and to serve surging rental
August 28, 2024
Hong Kong property developer New World Development this month secured two onshore loans totalling 1.4 billion yuan ($193 million) as it seeks to further lower funding
July 29, 2024
Sotheby's embarks on a new kind of selling in Hong Kong on Saturday, with its first retail outlet, stocking anything from collectable trainers to dinosaur fossils,
July 25, 2024
Higher-for-longer interest costs and ample retail and office vacancies have pushed the sales of distressed investment properties in Hong Kong higher in the second
July 11, 2024
A Hong Kong court gave Chinese property developer Kaisa Group a seven-week respite on Monday to finalise a debt restructuring plan, adjourning a hearing on a
July 03, 2024
China Evergrande Group lost as much as $2 billion, or 80% of its market value, on Monday after its shares resumed trading in a crucial step for the world’s most indebted property firm as it seeks to restructure its offshore debt. Evergrande is at the centre of a crisis in China’s property sector that has seen a string of debt defaults since late 2021, and its stock has been suspended for 17 months. The developer is in the process of getting approvals from creditors and the courts to implement the debt restructuring plan. The
August 28, 2023China announced "historic" steps last week to stabilise its crisis-hit property sector, aiming to clear inventory and boost homebuyer demand.
May 23, 2024
A Hong Kong court adjourned to June 11 a hearing of a petition on Friday seeking liquidation of Country Garden, providing a breather to the embattled Chinese
June 02, 2024
Shares of Chinese property developers rallied on Thursday after a report that China was considering a plan for local governments across the country to buy millions of
May 31, 2024
Embattled Chinese property developer Country Garden said it was unable to pay two onshore coupons due on Thursday, but China Bond Insurance Co would do so on its
May 22, 2024
Embattled Chinese property developer Fantasia said on Monday it has entered into a new agreement with its ad hoc group of bondholders to restructure its $4 billion
May 15, 2024
China Evergrande Group lost $2.2 billion, or 79% of its market value, on Monday after its shares resumed trading in a crucial step for the world’s most indebted property firm to restructure its offshore debt. Evergrande is at the centre of a crisis in China’s property sector that has seen a string of debt defaults since late 2021, and its stock has been suspended for 17 months. The developer, which is in the process of getting approvals from creditors and the courts to implement the debt restructuring plan, said on Monday it would postpone
August 28, 2023Shares of China Evergrande Group fell as much as 87% early on Monday when trading resumed following a 17 month suspension, wiping out almost $2.4 billion of its value, after saying it had “adequately” fulfilled all guidance issued by the Hong Kong Stock Exchange. Evergrande, the world’s most-indebted property developer, is at the centre of a crisis in China’s property sector that has seen a string of debt defaults since late 2021. Next month, courts will decide on Evergrande’s plan to restructure almost $32 billion worth of offshore debt obligations. Shares listed in Hong
August 28, 2023– China Evergrande Group, the world’s most-indebted property developer, on Sunday reported a narrower net loss for the first half of the year, thanks to a rise in revenue. Evergrande said its January-June loss was 33 billion yuan ($4.53 billion) versus a 66.4 billion yuan loss in the same period a year earlier. The developer is at the centre of a crisis in China’s property sector that since late 2021 has seen a string of debt defaults, unfinished homes and unpaid suppliers, shattering consumer confidence in the world’s second-largest economy. This month, missed U.S.
August 28, 2023Shares of China Evergrande Group fell as much as 87% early on Monday when trading resumed following a 17 month suspension, wiping out almost $2.4 billion of its value, after saying it had “adequately” fulfilled all guidance issued by the Hong Kong Stock Exchange. Evergrande, the world’s most-indebted property developer, is at the centre of a crisis in China’s property sector that has seen a string of debt defaults since late 2021. Next month, courts will decide on Evergrande’s plan to restructure almost $32 billion worth of offshore debt obligations. Shares listed in Hong
August 28, 2023
Shares of China Evergrande Group fell as much as 87% early on Monday when trading resumed following a 17 month suspension, wiping out almost $2.4 billion of its value, after saying it had “adequately” fulfilled all guidance issued by the Hong Kong Stock Exchange. Evergrande, the world’s most-indebted property developer, is at the centre of a crisis in China’s property sector that has seen a string of debt defaults since late 2021. Next month, courts will decide on Evergrande’s plan to restructure almost $32 billion worth of offshore debt obligations. Shares listed in Hong
August 28, 2023
Shares of China Evergrande Group shed 86.7% early on Monday when trading resumed following a 17 month suspension, after saying it had “adequately” fulfilled all guidance issued by the Hong Kong Stock Exchange. Evergrande, the world’s most-indebted property developer, is at the centre of a crisis in China’s property sector that since late 2021 has seen a string of debt defaults. Its shares listed in Hong Kong traded as low as HK$0.22 on Monday, with its market capitalisation shrinking to HK$3.2 billion ($408.02 million). The stock had been suspended since March 21, 2022. Its
August 28, 2023
– China Evergrande Group, the world’s most-indebted property developer, on Sunday reported a narrower net loss for the first half of the year, thanks to a rise in revenue. Evergrande said its January-June loss was 33 billion yuan ($4.53 billion) versus a 66.4 billion yuan loss in the same period a year earlier. The developer is at the centre of a crisis in China’s property sector that since late 2021 has seen a string of debt defaults, unfinished homes and unpaid suppliers, shattering consumer confidence in the world’s second-largest economy. This month, missed U.S.
August 27, 2023
China Evergrande Group, the world’s most-indebted property developer, on Sunday reported a narrower net loss for the first half of the year, thanks to a rise in revenue. Evergrande said its January-June loss was 33 billion yuan ($4.53 billion) versus a 66.4 billion yuan loss in the same period a year earlier. The developer is at the centre of a crisis in China’s property sector that since late 2021 has seen a string of debt defaults, unfinished homes and unpaid suppliers, shattering consumer confidence in the world’s second-largest economy. This month, missed U.S. dollar
August 27, 2023
Fears that Chinese property giant Country Garden was preparing for a debt restructuring sent its securities to a record low on Friday and deepened concerns about the property sector outlook in the absence of stronger support from Beijing. The country’s top private property developer, which had total liabilities of about $194 billion at the end of 2022 and large exposure to lower-tier cities, is expected to kick off a restructuring process soon, Chinese news outlet Yicai said, citing an unnamed financial source. Country Garden on Thursday warned it could report a loss of up
August 11, 2023
Shares of China’s largest private property developer Country Garden plunged to a record low on Friday after it forecast a first-half loss of up to $7.6 billion and a media report said it was preparing for a debt restructuring. The firm, which had total liabilities of about $194 billion at the end of 2022 and large exposure to lower-tier cities, is expected to kick off a restructuring process soon, Chinese news outlet Yicai said. China International Capital Corporation (CICC) has been hired as a financial adviser to lead the restructuring, the report added. Country
August 11, 2023
Father arrested after baby found with multiple traumatic skull fractures
Bank of America names co-leaders for initiative linking investment bank, wealth units
Strike could cost Boeing $100 million-plus in daily revenue, analysts say
US still working on revised proposal for Gaza ceasefire deal, State Dept says
US says worked on release of US pastor from China for some time, seeking others
US military completes withdrawal from junta-ruled Niger
Trump is launching another business full of potential risks and conflicts if he wins
Dolphins are signing former Ravens QB Tyler Huntley as Tua Tagovailoa remains out with a concussion
Tito Jackson, founding member of the Jackson 5, dies at 70
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