Business

China's Evergrande resumes work on more than 10 projects

FILE PHOTO: An aerial view shows residential buildings at the construction site of Evergrande Cultural Tourism City, a China Evergrande Group project whose construction has halted, in Suzhou’s Taicang, Jiangsu province, China October 22, 2021. REUTERS/Xihao JiangBEIJING (Reuters) -China Evergrande Group said on Sunday it had resumed work on more than 10 projects in Shenzhen, […]

Business

Factbox-China Evergrande's upcoming bond coupon payments

SHANGHAI (Reuters) – China Evergrande Group on Friday confounded market expectations that it would formally default this weekend, supplying funds to pay interest on a U.S. dollar bond before the expiration of a 30-day grace period on Oct. 23.A man walks past a No Entry traffic sign near the headquarters of China Evergrande Group in […]

Business

Evergrande debt woes are manageable, China central bank official says

SHANGHAI (Reuters) -The spillover effect of China Evergrande Group’s debt problems on the banking system is controllable, a central bank official said on Friday, in rare official comments on a liquidity crisis at China’s No. 2 developer that has roiled global markets.FILE PHOTO: The logo of China Evergrande is seen at outside China Evergrande Centre […]

Business

Gramercy says it added Evergrande exposure as bond prices crater

Police officers and security personnel walk outside the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China, September 30, 2021. REUTERS/Aly SongNEW YORK (Reuters) – Gramercy said on Thursday it “added a small position” in China Evergrande Group bonds as prices have fallen to where there is a “compelling risk/reward.” The emerging markets specialist […]

Business

HSBC CEO sees market impact from Evergrande debt woes

Workers walk inside the construction site of a project developed by China Evergrande Group in Beijing, China September 22, 2021. REUTERS/Carlos Garcia RawlinsSINGAPORE (Reuters) – HSBC Holdings PLC expects the debt problems involving embattled property developer China Evergrande Group to have an impact on capital markets but does not see any direct impact on the […]

Business

IMF says China has tools to avoid Evergrande's problems becoming systemic crisis

FILE PHOTO: A man walks in front of unfinished residential buildings at the Evergrande Oasis, a housing complex developed by Evergrande Group, in Luoyang, China September 15, 2021. REUTERS/Carlos Garcia RawlinsWASHINGTON (Reuters) – The International Monetary Fund on Tuesday said it is closely following developments surrounding China Evergrande Group, but believes Beijing has the tools […]

Business

Debt-laden Evergrande says in sale talks for certain assets; shares jump

HONG KONG/SHANGHAI (Reuters) – Shares of debt-ladden China Evergrande Group jumped on Wednesday after it confirmed that it is in talks to sell certain assets, as the move could ease cashflow pressure amid market speculation over a potential restructuring.FILE PHOTO: An exterior view of China Evergrande Centre in Hong Kong, China March 26, 2018. REUTERS/Bobby […]