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20.12.25 - 10:24
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Vanke Hong Kong sells just 7 units in muted Le Mont weekend launch (SCMP)
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Vanke Hong Kong, a unit of distressed mainland developer China Vanke, sold only seven flats from the latest batch of its Le Mont project in Tai Po on Saturday, a muted result that brokers said was expected given the development has been on the market for months.
The developer released 165 flats in the latest batch, with sizes ranging from 270 to 662 sq ft.
The offering included 28 one-bedroom, 28 two-bedroom, eight three-bedroom units and eight special units, as part of a six-tower residential......
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19.12.25 - 12:56
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China Problems for US Sportswear Giant Nike As Shares Tumble | The Pulse 12/19 (Bloomberg)
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Nike shares sank after the company warned that sales will decline this quarter amid persistent weakness in China and at its Converse brand. The world's largest sportswear company expects revenue to be down in the low-single digits in the three months that started Dec. 1, a surprising turn after two straight periods of growth.
Today's guests: Michael Metcalfe, State Street, Head of Macro Strategy; Chris Brett, CBRE, Capital Markets Europe Head; Vania Stavrakeva, London Business School Professor; Anton Osika, Lovable CEO & Co-Founder; Amy Gower, Morgan Stanley, Metals and Mining Strategist. (Source: Bloomberg)...
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19.12.25 - 12:18
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China Vanke says top managers have no plans to sell shares as it fights for survival (SCMP)
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China Vanke's senior executives have no plans to reduce their personal shareholdings, according to the distressed mainland developer, which is seeking to extend the repayment of its onshore debt to avoid a default.
The Shenzhen-listed developer on Thursday was responding to queries from investors on the exchange's interactive platform, saying it had not received any notification from the executives regarding stake sale plans. Under the exchange's rules, senior management were required to......
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19.12.25 - 08:12
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Rosewood presses ahead with global expansion after sources say hotel brand is not for sale (SCMP)
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Rosewood Hotel Group said on Friday it was pushing ahead with its global expansion, announcing new openings including its first ski resort, just days after sources said Chow Tai Fook Enterprises (CTFE), the private investment holding company of the Cheng family and the parent firm of debt-ridden New World Development (NWD), had no plans to sell the prized asset.
The privately owned hotel operator said Rosewood Courchevel Le Jardin Alpin, an alpine resort in the French Alps, opened on schedule,......
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19.12.25 - 05:15
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Midday Takeaway: HSI Closes Midday at 25,663, Up 165 pts; HSTI Closes Midday at 5,480, Up 61 pts; WUXI BIO Up over 6%; HSBC HOLDINGS, TANWAN, NCI, HYSAN DEV Hit New Highs (AAStocks)
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At midday close, HSI rose 165 pts or 0.6% to 25,663. HSTI rose 61 pts or 1.1% to 5,480. HSCEI gained 44 pts or 0.5% to 8,885.Active Heavyweights:MEITUAN (03690.HK) closed at $103.7, up 2.3%TENCENT (00700.HK) closed at $612, up 1.2%BABA (09988.HK) closed at $145.2, up 0.8%PING AN (02318.HK) closed at $65.35, up 0.2%XIAOMI (01810.......
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18.12.25 - 18:36
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AM Best Affirms Credit Ratings of Patria Re (US), Inc. (Business Wire)
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MEXICO CITY--(BUSINESS WIRE)--#insurance--AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of Patria Re (US), Inc. (Patria US) (Charleston, SC). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect Patria US's balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).
The stable outlooks reflect the support Patria US receives from its group, which translates into capital contributions when required, as well as profitable business cessions to back up growth, given the strategic importance of the entity.
The ratings also recognize Patria US' affiliation and strategic importance to its ultimate parent, Peña Verde, S.A.B. (Peña Verde), a leading group in Mexico's insurance and reinsurance industries, which provides synergies and operating efficiencies. The ratings also reflect the s...
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17.12.25 - 09:45
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From friends to foes: Agile faces mounting troubles from former partner (Bamboo Works)
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A former partner has requested Agile's liquidation over an outstanding debt that isn't substantial, but could still trigger a chain reaction Key Takeaways: Lee Shih Ta An unfulfilled “cultural tourism dream” could be quickly becoming a nightmare for the debt-heavy Agile Group Holdings Ltd. (3383.HK). The developer's shares plummeted nearly 20% in intraday trade.....
The post From friends to foes: Agile faces mounting troubles from former partner appeared first on Bamboo Works....
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17.12.25 - 06:18
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China Vanke unveils fresh proposal to extend US$366 million bond after 3 failed bids (SCMP)
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Distressed mainland developer China Vanke has unveiled a revised bond extension proposal, seeking approval from creditors after its initial three payment extension bids were rejected, a development that has fuelled concerns about the crisis-hit property sector.
Holders of the 2 billion yuan (US$366 million) bond – which matured on Monday – would vote on the revised plan from Thursday to Monday, according to a filing to the Shanghai Clearing House on Tuesday.
The proposal needs to secure the......
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17.12.25 - 02:36
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CreditSights On China Vanke′s Woes, China Bonds Impact (Bloomberg)
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Zerlina Zeng, Head of East Asia Corporates and Asia Credit Strategy at CreditSights, sees limited systemic impact and spillover risk to high-grade China dollar bonds from distressed developer China Vanke's request to delay payment on a bond. She speaks with Paul Allen on "Insight with Haslinda Amin." (Source: Bloomberg)...
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