The odds of Russia defaulting on its external debts are increasing the longer the war in Ukraine lasts, a broad array of organizations and analysts warn. With the international community applying pressure on Moscow over its invasion of Ukraine, the national economy is poised to contract double digits, prompting the Kremlin to repeatedly employ extraordinary…
Russian Default ‘Extremely Likely’ as International Pressure Escalates
March 2, 2022
admin
bondsBusiness & Economydebt defaulteconomic policieseconomyEuropeMarketsRussiaRussia-Ukraine WarWorld
0 Comment
Debt Crisis Looms as China’s Housing Market Continues to Slump
The deepening debt crisis at Chinese developers like Evergrande Group, along with Beijing’s efforts to rein in property speculation, has stifled housing demand and hit the country’s economy. The output from the real estate sector fell 2.9 percent year-on-year in the fourth quarter, according to a supplemental report from the National Bureau of Statistics (NBS) on…
Chinese Land Sales Falls Significantly, Deepening Local Government Debt Stress
Chinese government land sales fell significantly through 2021, reversing a six-year streak of gains, as a cash crunch gripped the country’s most indebted developers and worsening local governments’ debt stress. Land sales in 2021 declined over 20 percent on average from a year earlier, with a deeper fall in the main development force of second-…
Shimao’s Default Deepens Concerns Over Cash Crunch in Chinese Real Estate Industry
January 11, 2022
admin
Business & Economycash crunchChinaChina Business & Economychinese developerChinese real estateCompaniesdebt defaultreal estateshimao
0 Comment
The Shanghai Stock Exchange briefly suspended trading of one of Chinese property developer Shimao’s bonds on Monday, following Friday’s suspension of trading in the firm’s five other bonds due to severe declines. The trading halt came as Shimao’s unit in Shanghai defaulted on a loan after missing a payment of over $100 million last week,…
Evergrande, Kaisa Cut by Fitch to ‘Default’ After Missed Payment Deadlines
HONG KONG/LONDON—Ratings agency Fitch downgraded property developers China Evergrande Group and Kaisa Group on Thursday, saying they had defaulted on offshore bonds, while a source said Kaisa had started to work on restructuring its $12 billion offshore debt. The downgrades to so-called “restricted default” status come even though Evergrande and Kaisa have not officially announced…
Evergrande Strives in Defaults, Chairman Sold a Family Home In Hollywood at a $5 Million Loss
China Evergrande Group’s inability to pay off millions in debts has resulted in the introduction of a risk resolution working group with the Chinese regime’s intervention. Xu Jiayin, the founder and chairman, has been pushed to sell his family’s assets, including a mansion in the Hollywood Hills sold at a loss of $5 million. A…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`