The House She Built a Source of Conflict

-
There was a time when everything seemed to be going right for Amara . She was a beautiful woman, not only in appearance but in the way she carried herself. She grew up in a loving home, surrounded by parents who worked hard and believed that their children should never lack opportunities. Her father was a respected man who worked tirelessly to provide for the family, while her mother was equally hardworking. They raised their daughters with discipline, kindness, and the belief that education and hard work were the keys to a good life. Amara was the elder daughter. Her younger sister, Nadia , was also intelligent and ambitious. The two sisters grew up watching their parents work together, and they learned an important lesson from them: nothing worthwhile comes without sacrifice. As the years passed, both sisters became successful in their own ways. Amara worked hard, saved her money, and eventually achieved something she had dreamed about since she was young. She bought a beauti...
Post a Comment

Chinese developer misses bond payment, as stress spills beyond Evergrande

-

 

A mid-size Chinese real estate developer failed to make a $205.7 million payment due to bondholders Tuesday

Topics
Evergrande | China | Real Estate

AP  |  Beijing 

Evergrande
Representative image

A mid-size Chinese real estate developer failed to make a $205.7 million payment due to bondholders Tuesday, adding to the industry's financial strain as one of China's biggest developers tries to avoid defaulting on billions of dollars of debt.

Fantasia Holdings Group announced it missed the payment in a statement issued through the Hong Kong Stock Exchange. It gave no explanation but said it had asked for trading of Fantasia shares to be suspended.

Some Chinese developers are struggling to repay debt after regulators tightened limits last year on their use of borrowed money. That is fuelling fears about possible defaults and turmoil in financial markets.

Investors are worried Evergrande Group might collapse with 2 trillion yuan ($310 billion) of debt. The company has missed at least one payment to bondholders abroad but has yet to be declared in default.

Economists say Beijing can prevent a broader credit crunch if Evergrande defaults but wants to avoid bailing out the company or its creditors as a warning to other borrowers and lenders to be more disciplined.

Fantasia, valued by the stock market at $415 million, reported a 153 million yuan ($24 million) profit for the first half of 2021 and said revenue rose 18.5% over a year earlier to 10.9 billion yuan ($1.7 billion).

Hundreds of smaller Chinese developers have gone bankrupt since regulators began tightening control over the industry's financing in 2017 amid concern about rising debt and the possible risk of a financial crisis.

In March, another developer, Fortune Land Development Co. said it missed interest and debt payments totalling 5.3 billion yuan ($813.5 million).

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

 Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, October 05 2021. 14:08 IST

PREVIOUS STORY

NEXT STORY

RECOMMENDED FOR YOU

Comments

Post a Comment

Popular posts from this blog

This New Ultralight Aircraft May Be World’s Fastest Single-Engine Business Jet

-
Image
  The speedy LAR-01's automotive interior adds comfort and luxury. Plus: The wings detach, so the jet can be stored in a home garage. By  MICHAEL VERDON           Courtesy Flaris The  Flaris  LAR-01 has a number of striking stats, including being a ton lighter (literally) than its competitors, along with an unusually short-field landing capability, and detachable wings. But its most impressive number is the 250-knot true air speed, which its designers say makes it the world’s fastest business jet among single-engine very light jets and turboprop aircraft. Flaris says recent tests “confirmed the assumptions made previously” about the effectiveness of multiple systems, including its Garmin G600 avionics and Flaris Flight Assistance System flight computer, as well as the landing gear and emergency parachute system. But it also claims more impressive stats like the 250-knot TSA at 10,000 feet. Its 6,000-feet-per-minute climb rate, adds the compan...
Read more

Fighting Drug addiction

-
 Here's the story: We sat down with a man who had a harrowing journey with addiction. He began by telling us about his early days in tertiary education, where he would occasionally smoke dagga with friends. However, his focus remained on his studies, and he worked hard to graduate and secure a qualification. After landing a job, he started building a life for himself. He got married, bought a property, and even splurged on a car. Life was good, and he felt like he was on top of the world. But one fateful night, while out with friends, he was introduced to heavier narcotics. At first, the experience was exhilarating. He described it as an elevation from the mild high of dagga to a level 5 high, where he felt invincible and euphoric. The effects would last for days, allowing him to party from Friday to Sunday without sleep. The problem, however, began to manifest on Mondays and Tuesdays every week, when the withdrawal symptoms would kick in, and he'd struggle to function at work....
Read more

Ultra-Widebody Volkswagen Bus "Volkswide" Looks Like a Porsche Racing Van

-
Image
  Home   >   News   >   Renderings It's easy to understand why a muscle car or a Ferrari is cool - the big engine and cool body. But car culture is also influenced by television, rarity, or simply a generation growing up with a particular vehicle. The Volkswagen Bus is a perfect example of this because it's slow, not sporty-looking, yet it can cost a lot of money.  16 photos The Bus is perhaps one of the least understood collectibles, right up there with bubble cars. You see them grabbing huge money at auctions, making it difficult to visualize why somebody wouldn't rather have a Ferrari or some 1960s Mustang. Comedian Gabriel Iglesias is known as the VW Bus King, as his collection of Vdubs is reportedly worth in excess of $3 million. The Hoonigan crew recently did a feature video, but we still had trouble picturing the value of these vehicles. Fortunately, there's a set of renderings that takes the visuals of the Microbus to the level where everybody...
Read more