Chinese Estates Holdings, the second-biggest shareholder of Evergrande, projected a loss of over $1 billion this year after selling out the entire stake of the debt-ridden developer. China Estates announced on Thursday that it recently reduced its stake in Evergrande to about 5.7 percent from nearly 6.5 percent. It was seeking shareholder approval to sell the remainder. …
Evergrande’s Major Shareholder Projects Over $1 Billion Loss
September 24, 2021
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Business & EconomyChinaChina Business & Economychina debt crisisChinese EstatesCompaniesevergrandeMarkets
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Derek Chauvin to Appeal Conviction, Prison Sentence in Death of George Floyd
Derek Chauvin, the former Minneapolis police officer convicted of murder in the death of George Floyd, is appealing his conviction and sentence, according to documents filed on Thursday. According to an affidavit filed, Chauvin, who in June was handed a 22 1/2 years sentence for second-degree murder by Hennepin County District Court Judge Peter Cahill,…
Indonesia Finance Minister Warns of Ripple Effect from China’s Evergrande Debt Woes
September 24, 2021
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Asia & PacificBusiness & EconomyChinaChina Business & EconomyevergrandeIndonesiaindonesia-chinaInternational RelationsMarket WatchMarketsWorld
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JAKARTA—Indonesian authorities are monitoring the financial market situation in China, finance minister Sri Mulyani Indrawati said on Thursday, and warned that property firm China Evergrande’s debt woes could affect the world’s economy. “We see a new risk to the financial system stability in China,” she told a news conference. “They are going through a situation…
Imprisoned Hong Kong Activist Jimmy Lai Awarded 2021 Liberty Medal
September 23, 2021
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Jailed Hong Kong pro-democracy activist and former owner of Apple Daily Jimmy Lai was awarded the 33rd annual Liberty Medal by the National Constitution Center on Tuesday. Lai was awarded the honor for his courage and conviction in exercising the fundamental rights of freedom of speech, nonviolent resistance, and peaceful dissent. Jeffrey Rosen, president and…
Vaccinated International Students to Return to New South Wales by 2022
Hundreds of vaccinated international students will be returning to Australia by the end of the year after announcing an industry-funded pilot plan on Friday. The first phase of the pilot is expected to bring 500 international students back to the state on chartered flights by December, paid for by the students themselves. Students will return…
Pelosi’s Jan. 6 Select Committee Subpoenas Four Trump Aides, Advisers
The House of Representatives panel formed to investigate the Jan. 6 U.S. Capitol breach has issued its first subpoenas for four members of former President Donald Trump’s administration, the panel’s chairman said on Thursday. Committee Chairman Rep. Bennie Thompson (D-Miss.) said in a statement that the panel, which received no backing by members of Republican…
Swiss Central Bank Tracking Evergrande Woes, Swiss Banks Play Down Exposure
September 23, 2021
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banksBusiness & EconomyChinaChina Business & EconomyEconomiesevergrandeInternationalMarketsSwitzerlandWorld
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ZURICH—The Swiss National Bank is closely monitoring the situation at China’s Evergrande Group, SNB Chairman Thomas Jordan said on Thursday, amid concerns its debt problems could pose risks to China’s financial system. “It is wrong to be alarmist, but it is also wrong to dismiss it as a local small problem,” Jordan told journalists on…
Court Case of 47 Hong Kong Democracy Activists to Resume on Nov. 29
HONG KONG—A closely monitored national security case involving 47 Hong Kong democracy activists charged with conspiracy to commit subversion, most of whom have been in custody for more than six months, will resume on Nov. 29, a judge ruled on Thursday. Magistrate Peter Law in the Western Kowloon Court ruled more time was needed for…
The COVID-19 Response and the Emergence of Illiberalism
September 23, 2021
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Commentary The impact of COVID-19 directions on the lives of people is truly staggering. The interminable lockdown and border closures have wrought havoc and inflicted misery on many people. Each day, people are inundated with fluid and ever-changing COVID-19 directions, which, however, are hardly transparent. This idea of constant change was captured perceptively by Michael…
Deportation Flights to Haiti Ramp Up, Horse Patrols Suspended in Del Rio
September 23, 2021
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The Biden Administration offered new data Thursday on how many Haitian nationals are being processed at the U.S. southern border near Del Rio, Texas, and returned to Haiti in repatriation flights, but it’s still not clear how many have been allowed into the U.S. interior. The administration also says it is suspending its use of…
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