In China, two more developers are unable to repay their debts: Fantasia Holdings has been unable to repay bonds worth $ 205.7 million, and Sinic Holdings is uncertain about the repayment of $ 246 million in bonds, the BBC reports.
The day before, trading in Evergrande shares was suspended on the eve of “an announcement containing inside information about a major deal.” It was then reported that the company plans to sell a larger stake in one of its divisions.
Now, two more real estate companies are facing financial problems due to lack of debt payments. In particular, Fitch Ratings downgraded Sinic Holdings ($ 4 billion in revenue) after it said it had missed interest payments and amid uncertainty over the $ 246 million bond repayment due later this month.
In turn, the luxury apartment developer Fantasia Holdings ($ 3 billion in annual revenue) failed to repay $ 205.7 million worth of bonds, reducing the market value of dollar-denominated bonds in China by almost 50%.
Chinese media write that the Hong Kong real estate company Hopson Development is going to buy a 51% stake in Evergrande Real Estate, for about $ 5 billion.
“The potential agreement will give the debtor developer such a necessary monetary investment when he tries to raise funds to make payments to customers, investors and suppliers,” the article said.
According to the WSJ, Fitch Ratings downgraded Fantasia to CCC-, reflecting an extremely high risk of default – Fantasia missed another bond payment, which Fitch did not previously know. The agency has now said the incident “calls into question the transparency of the company’s financial information.”
SoftServe is expanding its presence and opening new office spaces in four cities — Vinnytsia, Khmelnytskyi, Uzhhorod, and Odesa. They are available for 250 people working in these regions as well as other employees. The coworking in Vinnytsia where SoftServe has around 50 employees is already fully operating. Odesa is the next — office space […]
COMBINE ROAD AND COMFORT Shell is launching a new coffee brand Shell Café all over Central and Eastern Europe (CEE) (to replace […]
Radisson Hotel Group is proud to be the world’s first hotel group to make all meetings and events across 400+ hotels in its EMEA portfolio carbon negative. For every event taking place at its participating hotels, Radisson Hotel Group will offset double the carbon footprint, to ensure that every meeting has a positive impact on […]
During trading on Monday, October 11, the price of a barrel of Brent oil rose by 2% to $ 84.01. She reached this mark for the first time since October 2018. US WTI oil rose by $ 1.62 to $ 81.3 – the highest price since 2014, according to Reuters. It is noted that Brent […]
The agreement on a single corporate tax rate of at least 15 percent was signed by 136 states, which account for more than 90 percent of world GDP. The agreement is aimed at combating tax evasion by international corporations. The initiative was also signed by countries that were initially opposed to tax reform, such as […]
The savings of Ukrainian citizens outside the banking system are estimated at $ 30-35 billion. This estimate was given by the chairman of the National Bank Kyrylo Shevchenko during the Kyiv Economic Forum. There are different estimates of the “gray” economy. We in the National Bank believe that this is up to 30% of GDP. […]
During the week, the National Bank of Ukraine bought $ 228 million on the interbank foreign exchange market. At the same time, the central bank did not sell currency on the interbank market. So the NBU continued to buy currency on the interbank market, the bank increased it compared to last week ($ 15 million) […]
The new Tesla factory in Berlin may release the first electric cars next month. CEO Elon Musk stated this. Speaking at the plant, Musk said he hoped to get the green light to begin production in the coming weeks. The last consultation on public concern about the plant ends on October 14, after which the […]
Net profit of one of the largest financial corporations in the world Citigroup Inc. in January-September 2020 fell twice, compared to the same period in 2019 to $ 7.068 billion, follows from the reporting of the corporation. Adjusted earnings per share were $ 2.97 against $ 5.89 a year earlier. The financial giant’s revenue for […]
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In the United States over the past 15 years, 25 billionaires have paid a much lower income tax than they should have. ProPublica based on confidential data from the US IRS published the investigation. In particular, among the 25 billionaires are Berkshire Hathaway CEO Warren Buffett, former New York Mayor Michael Bloomberg, Amazon founder Jeff […]
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A subsidiary of Alibaba Group – Ant Group – plans to attract $ 35 billion in the course on the Shanghai and the Hong Kong exchange. This was reported by Bloomberg. The IPO could be the largest in history, the agency emphasizes. The previous record holder, Saudi oil company Aramco, raised $ 29.4 billion. The […]
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National Bank of Ukraine (NBU) classified Avant-Bank (Kyiv) as insolvent. The decision approved by the Decree №44 of January 29, 2016, presses the service of the National Bank. NBU explained the decision as the shareholders of the bank have no “clear plans for the replenishment of the bank’s liquidity and default of customers’ operations within […]
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The taxi service of the international Chinese company DiDi Chuxing intends to conduct the initial public offering (IPO) on the Hong Kong Stock Exchange. As reported by Reuters on Tuesday, citing sources, this may happen in the first half of 2021. By the time of the IPO, the estimated value of DiDi will be more […]
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The defining reason for the depreciation of the hryvnia against the dollar and the euro in the third quarter was the deterioration of business expectations. Deteriorating expectations created increased demand for the currency, which turned out to be higher than supply. This contributed to the devaluation pressure in the foreign exchange market in the III […]
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The offices and apartments of the A-95 consulting group were searched on Tuesday, July 13. The company’s director Serhiy Kuyun connects them with exposing materials about the BRSM-nafta gas station network. “Today in our apartments and the office of the consulting group A-95 were searched, equipment was seized. The last thing they said:” The police […]
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The Fund for Economic Stability (WSF), created by the German government, saved the largest German airline from bankruptcy after the collapse of air traffic in March 2020 with billions of infusions, but now there is a way out of the crisis, the concern said. Lufthansa intends to return to the state by the end of […]
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The National Bank did not go out this week with interventions on the interbank market, according to the press service of the regulator on Friday, November 27. The Central Bank has been refusing to buy or sell currency for three weeks in a row. At the same time, since the beginning of the year, the […]
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Startups European market by the number of attracted investments only gives place to America and China markets. According to the analysis, which is carried out the investment bank of France Clipperton and resource Who Got Funded, it increased the number of transactions up to $ 30 million last year, which graded decline in the proportion […]
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Ukrainian businessman Serhiy Tigipko was denied the purchase of more than 99% of Prominvestbank (PIB) shares through Luregio Limited. National Bank made the relevant decision due to problematic issues of the Bank’s activity. “The Committee on Supervision and Regulation of Banking, Oversight (Oversight) of Payment Systems adopted this decision on February 5, 2021. The decision […]
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Ryanair has made a multibillion-dollar order for a Boeing 737 Max, reports the Financial Times, citing the head of the carrier Michael O’Leary. This is the first agreement with the plane after the investigation of two plane crashes involving it, which in 2018 claimed more than 300 lives. Vertical Research Partners aerospace analyst Rob Stallard […]
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Last winter two well-known manufacturers of technique went to court with counter-accusations of patent infringement. Apple representatives accused their Swedish competitors in the application of technologies in the transmission network, the Swedes responded by suing a counter statement in which it accused Apple of using of their cellular technologies in the production of its equipment. […]
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Naftogaz has signed a memorandum with the Israeli company Naphtha Petroleum on possible geological exploration of hydrocarbons on the Black Sea shelf. This was reported by the press service of Ukrgazvydobuvannya. It is noted that Naphtha Petroleum has proven experience with the necessary deepwater technologies and business relationships with leading operators in the development of […]
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Ukrzaliznytsia resumed cooperation with the German national railway operator Deutsche Bahn and signed an agreement with the engineering and consulting firm DB Engineering & Consulting, which is part of it, to provide consulting services to create an energy management strategy. This was reported on the website of the Ministry of Infrastructure. “The energy management strategy […]
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March, 14 Kyiv District Administrative Court declared illegal inactivity of the regulator in relation to the “Ukrgazprombank”, which was declared insolvent in 2015, and now goes into liquidation. The lawsuit was filed by one of the contributors of the Ukrgazprombank – “Trading House Sanko” LLC , writes the FinClub. In August 2014 the company has […]
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