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Business World

Evergrande: Shares of troubled Chinese real-estate giant surges after deal with bond holders

The stocks of Chinese troubled real-estate giant Evergrande jumped on Thursday after it struck an agreement with Chinese bond holders on Wednesday. The announcement helped to calm some investor concerns over debts of more than $300 billion. But the world’s most indebted developer is also due to make a $83.5 million interest payment on an […]

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Business World

Evergrande: Chinese real estate giant strikes deal over bond interest payment

Chinese real estate giant Evergrande has said it has struck a deal over a bond interest payment which is due on Thursday. The amount due for the domestic bond is estimated to be nearly $36 million. The announcement will offer some relief to investors concerned over the company’s debt crisis. However, the world’s most indebted developer […]

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Business

Concern over Chinese property group Evergrande jitters global stock markets

Asian stocks showed mixed reaction as concerns persisted over Chinese property group Evergrande and its impact on the global markets. Japan’s Nikkei 225 index closed 2.2% lower, but Hong Kong’s Hang Seng index regained earlier losses to end up 0.5%. Evergrande, a major Chinese property developer is struggling to meet interest payments on more than $300 billion […]

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Business World

Evergrande: Real-estate giant wreaks havoc on Hong Kong’s market; it’s bankruptcy could stall China’s economy

Chinese real-estate giant Evergrande has started to repay investors in its wealth management business with property, as the world’s most indebted developer faces a key test this week. Major banks have reportedly been told that they won’t receive interest payments on loans that are due Monday, while interest payments of $84 million on the firm’s […]

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Business World

Share price of Chinese property giant Evergrande plunges after it outlines financial problems

The stock of Chinese property giant Evergrande plunged after it outlined the extent of its financial problems. The firm said it is struggling to sell assets fast enough to service its massive $305 billion of debts. A statement issued by the company also said that its cashflow was under “tremendous pressure”. The announcement came just […]