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  • Saudi Arabia’s Neom Makes China’s Evergrande look practical Aug 01, 2022 08:34 PM IST

    Saudi Arabia’s Neom Makes China’s Evergrande look practical

    The potential folly of the futuristic city Crown Prince Mohammed envisions along the Red Sea isn’t in the financials, it’s in the country’s underlying reality

  • Chinese developer Evergrande's unit ordered to pay out $1.1 billion Aug 01, 2022 07:02 AM IST

    Chinese developer Evergrande's unit ordered to pay out $1.1 billion

    In July 2021, the guarantor, who was not named in the statement, provided a guarantee for the borrowings of certain entities controlled by Evergrande, the company said in a statement to the Hong Kong stock exchange.

  • Fitch withdraws ratings on debt-laden China Evergrande, subsidiaries Jun 02, 2022 05:07 PM IST

    Fitch withdraws ratings on debt-laden China Evergrande, subsidiaries

    The rating agency in December downgraded Evergrande and its subsidiaries, Hengda Real Estate Group Co Ltd and Tianji Holding Ltd, to so-called “restricted default” status, saying the firms had defaulted on their offshore bond obligations.

  • China economy: the fallout from the Evergrande crisis Jan 06, 2022 12:35 PM IST

    China economy: the fallout from the Evergrande crisis

    The crackdown on real estate ordered by Xi Jinping is putting growing pressure on local governments and many companies

  • Evergrande and the lessons Indian real estate developers should learn Dec 11, 2021 07:53 AM IST

    Evergrande and the lessons Indian real estate developers should learn

    Will China’s Evergrande failure force Indian developers to rethink their business strategy?

  • China's Evergrande defaults: What happens next? Dec 09, 2021 05:18 PM IST

    China's Evergrande defaults: What happens next?

    As real estate firms Evergrande and Kaisa default on over a billion dollars of bond repayments after weeks of uncertainty, here is an explainer on what the debt crisis in China's real estate market could mean for the country's economy.

  • Two Chinese property firms Evergrande, Kaisa default on $1.6 billion in bonds: Fitch Dec 09, 2021 03:06 PM IST

    Two Chinese property firms Evergrande, Kaisa default on $1.6 billion in bonds: Fitch

    The Chinese government sparked a crisis within the property industry when it launched a drive last year to curb excessive debt among real estate firms as well as rampant consumer speculation.

  • China Evergrande shares set to fall 7.1% after it says no guarantee it can meet repayments Dec 06, 2021 07:12 AM IST

    China Evergrande shares set to fall 7.1% after it says no guarantee it can meet repayments

    After Evergrande’s statement late on Friday, the Guangdong provincial government said it would send a working group to the developer at its request to oversee risk management, strengthen internal controls and maintain normal operations.

  • China Evergrande EV unit to raise $347 million from share sale to fund production Nov 20, 2021 08:32 AM IST

    China Evergrande EV unit to raise $347 million from share sale to fund production

    China Evergrande New Energy Vehicle Group Ltd will issue about 900 million shares at HK$3 apiece through a top-up placement to controlling shareholder Evergrande Health Industry Holdings Ltd, after striking a similar deal with it last week.

  • Evergrande makes overdue interest payments Nov 11, 2021 10:00 AM IST

    Evergrande makes overdue interest payments

    All eyes had been on the heavily indebted company as it faced a Wednesday deadline for $148 million in coupon payments -- after missing the initial due dates last month.

  • Evergrande teeters on edge of default as $148 million payment falls due Nov 10, 2021 05:16 PM IST

    Evergrande teeters on edge of default as $148 million payment falls due

    Evergrande, the world's most indebted developer, has been stumbling from deadline to deadline in recent weeks as it grapples with more than $300 billion in liabilities, $19 billion of which are international market bonds.

  • EV maker Bedeo acquires Protean from Evergrande's auto unit Nov 04, 2021 03:56 PM IST

    EV maker Bedeo acquires Protean from Evergrande's auto unit

    Bedeo is buying Protean from National Electric Vehicle Sweden, a unit of Evergrande New Energy Vehicle Group.

  • China Evergrande completes delivery of 184 projects in July-October Nov 03, 2021 09:10 AM IST

    China Evergrande completes delivery of 184 projects in July-October

    In a statement, the firm, once China’s top-selling developer, said it had delivered homes to 57,462 owners over the period.

  • Evergrande makes coupon payment ahead of Friday deadline: Sources Oct 29, 2021 07:56 AM IST

    Evergrande makes coupon payment ahead of Friday deadline: Sources

    Evergrande’s liquidity crunch against more than $300 billion in liabilities sparked global concern it could trigger systemic risks.

  • Advisers to Evergrande, bondholders take step toward debt talks Oct 28, 2021 07:22 AM IST

    Advisers to Evergrande, bondholders take step toward debt talks

    The company’s advisers Houlihan Lokey Inc and Admiralty Harbour Capital along with offshore bondholder advisers Moelis & Co and Kirkland & Ellis have signed non-disclosure agreements in preparation for potential talks, according to the report on Wednesday.

  • What people are saying about China Evergrande Group Oct 22, 2021 09:48 AM IST

    What people are saying about China Evergrande Group

    Shares of Evergrande, which is saddled with more than $300 billion in liabilities, rose as much as 8 percent early on October 22 after it wired funds to a trustee account for a bond interest payment

  • Evergrande financial crisis | Struggling Chinese developer makes bond payment: Report Oct 22, 2021 09:39 AM IST

    Evergrande financial crisis | Struggling Chinese developer makes bond payment: Report

    Evergrande Group's struggle to reduce its 2 trillion yuan ($310 billion) of debt to comply with tighter official curbs on borrowing has prompted fears a default might trigger a financial crisis

  • Asian markets swing but Evergrande payment report provides boost Oct 22, 2021 09:20 AM IST

    Asian markets swing but Evergrande payment report provides boost

    Surging prices around the world and central banks' moves to bring an end to their financial largesse have acted as a major drag on markets for months owing to the prospect that the era of cheap cash is coming to an end

  • Troubled developer Evergrande to resume trading, warns of financial obligations Oct 20, 2021 07:16 PM IST

    Troubled developer Evergrande to resume trading, warns of financial obligations

    The company suspended trading on October 4 as it struggled in a sea of debt and faces a default, with its predicament fuelling fears of contagion through the Chinese economy.

  • China Evergrande makes onshore coupon payment: Report Oct 19, 2021 02:26 PM IST

    China Evergrande makes onshore coupon payment: Report

    The liquidity crisis at Evergrande, which has $300 billion in debt and has missed a series in bond payments, has roiled global markets. High-yield bonds issued by Chinese property developers have been especially hammered.

  • Hong Kong property agencies suing Evergrande to recover commissions Oct 06, 2021 11:23 AM IST

    Hong Kong property agencies suing Evergrande to recover commissions

    Centaline filed a suit against Evergrande in September to recover HK$3.1 million ($398,196) in overdue commissions, a court filing showed, while the South China Morning Post newspaper reported Midland Holdings is claiming unpaid commission of HK$43.45 million for two developments in Hong Kong.

  • China Evergrande trading halt spurs asset sale speculation Oct 04, 2021 10:18 AM IST

    China Evergrande trading halt spurs asset sale speculation

    Once China's top-selling developer, Evergrande is facing what could be one of the country's largest-ever restructurings as a crackdown on debt leaves it unable to refinance $305 billion in liabilities.

  • Shares of China Evergrande and property services unit suspended Oct 04, 2021 08:08 AM IST

    Shares of China Evergrande and property services unit suspended

    Shares of its unit Evergrande Property Services Group were also suspended, according to the Hong Kong stock exchange.

  • Struggling Evergrande to sell $1.5 billion stake in Chinese bank Sep 29, 2021 02:21 PM IST

    Struggling Evergrande to sell $1.5 billion stake in Chinese bank

    The stake sale to a state-owned group is Evergrande's first major asset disposal as it attempts to claw its way back from the brink of collapse.

  • China and Evergrande ascended together. Now one is about to fall Sep 29, 2021 09:58 AM IST

    China and Evergrande ascended together. Now one is about to fall

    Beijing has signaled that it will no longer tolerate the strategy of borrowing to fuel business expansion that turned Xu and his company into a real estate powerhouse, pushing Evergrande to the precipice.

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