A Hong Kong court delayed a hearing on Sino-Ocean Group Holding Ltd.’s restructuring agreement with lenders, as the state-linked builder awaits a decision later this month on a UK case involving a debt plan for all creditors. Sino-Ocean earlier said that a group of loan lenders holding 86.2% of its debt had voted in favor…
Embattled Hong Kong developer New World Development (NWD) said Thursday night that it will continue to prioritise real estate development as its core business this year and proceed with project launches, amid market rumours that the company is at risk of a default. Residential sales in Hong Kong continue to improve, and the company will…
Donald Trump is used to managing debt. But not like this. As a real estate developer, Trump relied heavily on borrowed money to fund projects. Trouble paying back his debts contributed to six business bankruptcies. Trump battled back by writing off some loans, refinancing others, finding new lenders, and changing his business model. The public…
Sri Lankan President Anura Kumara Dissanayake attracted investments from China on his first visit to Beijing since being elected in September. In a meeting with President Xi Jinping Wednesday, Dissanayake also won the Chinese leader’s support for Sri Lanka’s economic plans and for deeper political engagement between the two countries. Source link
China’s latest measures to deal with the financial risks of local officials have centered on a massive debt-swap planBloomberg Terminal, but a companion step is now drawing attention as a possible new tool. Ever since China unleashed a massive wave of credit to stoke its domestic economy in the depths of the global financial crisis,…
Amid Donald Trump’s chaotic, last-minute intervention into congressional negotiations about government funding, he has stumbled upon a good idea: He wants to abolish the debt ceiling. The debt ceiling, once a barely relevant bit of legal arcana, has become a dangerous weapon in American politics. It is currently due to expire in March, and the…
A man in China has paid 20,000 yuan (US$2,800) in registration fees to participate in a “self-discipline challenge” three times, hoping to win a substantial cash prize, but he was unsuccessful in all attempts. The man, surnamed Zhang, took the company behind the challenge to court in Xian, in northwestern China, believing his dream of…
China’s spiral into deflation is proving hard to fix. Prices in the world’s second-biggest economy have fallen for six consecutive quarters, and if they fall for one more quarter, the run would equal a record deflationary streak set in the Asian Financial Crisis in the late 1990s. Policymakers have pledged to do more to shore…
The European Union should guard against Chinese attempts to dominate the bloc’s clean-tech market and make sure its exports aren’t destroying local rivals, the bloc’s new competition chief warned. In her first interview since becoming the EU’s antitrust commissioner, Teresa Ribera told Bloomberg that Europe and the US failed in recent years to anticipate the…
So Macron will just appoint a new prime minister, right? Yes, but it’s not that simple. The French National Assembly is divided into three political blocs: Macron’s centrists, the far-right National Rally, and the left-wing coalition. The three groups are poles apart on politics and refuse to work together, meaning that any new government could…