Page 4 - Evergrande

Chinese developer Modern Land defaults; property shares drop

China's state planner is set to meet with property firms carrying large dollar-denominated debts later in the day to take stock of their total issuance volume and repayment capability

HSBC bucks China property worries with 74% profit jump, $2 billion buyback

The British lender reversed potential credit losses it had previously expected due to pandemic-induced defaults

Evergrande, EV unit shares jump after chairman signals business shift

Hui Ka Yan says that company would make its new electric vehicle venture its primary business, instead of property, within 10 years.

China Evergrande resumes work on more than 10 projects in different cities

China Evergrande Group said on Sunday it had resumed work on the projects in Shenzhen, Dongguan and other cities

China to test levying property tax in some cities amid Evergrande crisis

China has decided to pilot testing property tax levies in selected cities during the coming five years, to garner experiences before proceeding with formal legislation, reported local media.This comes when China's second biggest real estate developer Evergrande is marred with debt it cannot pay back.China's top legislature, the Standing Committee of the National People's Congress (NPC), adopted the decision on Saturday to authorise the State Council, the cabinet, to pilot property tax levies in some regions, Global Times reported citing Xinhua News Agency.A trial property tax could be tested by the end of this year in selected first and second-tier cities, said industry experts stressing that testing will be possible in the cities that have hot real estate markets, most likely in Guangdong's Shenzhen, Zhejiang's Hangzhou, and the southern island province of Hainan.Since 2011, the Chinese central government tried out levying the taxes on high-end private residential properties in ...

China's debt-ridden Evergrande resumes work on more than 10 projects

China Evergrande Group said on Sunday it had resumed work on more than 10 projects in six cities including Shenzhen after it appeared to avert default with a last-minute bond coupon payment last week.

Evergrande staves off default, pays overdue dollar bond interest

Next interest payment deadline comes due in a week's time

Explainer: How China Evergrande's debt troubles pose a systemic risk?

Late repayments could trigger cross-defaults as the firm's liabilities involved as many as 128 banks and over 121 non-banking institutions

Dollar set for second consecutive week of declines but outlook bullish

The dollar index edged 0.1per cent lower to 93.61, putting it on track for a second straight week of falls.

Struggling Chinese developer Evergrande makes bond payment: Report

Evergrande Group's struggle to reduce its 2 trillion yuan (USD 310 billion) of debt to comply with tighter official curbs on borrowing has prompted fears a default might trigger a financial crisis.

Evergrande secures more than 3-month extension on defaulted $260 mln bond

The extension on the defaulted bond offers respite to the developer

Explained: What lies beneath? Hidden debt fears feed China's property woes

Private bonds issued by shell companies in offshore locations have emerged as a new concern.

Global shares decline after Evergrande sale deal called off

Global shares were mostly lower Thursday, after major Chinese property developer Evergrande said a plan to sell its property management arm to a smaller rival had fallen through. France's CAC 40 shed 0.4% in early trading to 6,679.78, while Germany's DAX fell 0.2% to 15,498.69. Britain's FTSE 100 dipped 0.4% to 7,198.09. US shares were set to drift lower with Dow futures down 0.3% at 35,375.00. S&P 500 futures slipped 0.3% to 4,516.75. China Evergrande Group's shares tumbled 12.5% while shares in Evergrande Property Services slipped 8%. In a notice to the Hong Kong exchange Evergrande said it was having difficulties selling off assets to resolve its cash crunch. Hopson Development Holdings' shares rose 12.4% after it said was unable to complete the purchase. Trading of shares in all three companies was suspended pending a resolution of the transaction. Hong Kong's Hang Seng index lost 0.5% to 26,017.53, while the Shanghai Composite index gained 0.2% to 3,594.78. Some verbal ...

China Evergrande makes onshore coupon payment: Report

The liquidity crisis at Evergrande, which has $300 billion in debt and has missed a series in bond payments, has roiled global markets.

China's economy stumbles on power crunch and property woes

Q3 GDP grows 4.9% YoY vs 5.2% forecast

China economy set to slow after successive batterings: Report

Crackdown on property market, energy crunch to hamper growth

Evergrande's $1.7 bn Hong Kong headquarters sale flops as buyer withdraws

The collapse of the talks for the landmark building's sale is another setback for cash-strapped Evergrande

Evergrande debt woes are 'manageable', says People's Bank of China

Chinese authorities are urging Evergrande to step up asset disposals and the resumption of projects, Zou Lan, head of financial markets at the People's Bank of China (PBoC), told a briefing

China's central bank says spillover from Evergrande crisis 'controllable'

Concerns are growing that the cash crunch at Evergrande is spilling over to other developers

Evergrande's $1.7 bn HK headquarters sale flops as buyer withdraws: Report

The collapse of the talks for the landmark building's sale is another setback for cash-strapped Evergrande, which has been scrambling to divest some assets to repay creditors knocking on its doors