China Evergrande Group, the most indebted real estate developer in the world, is attempting to stave off a possibly impending liquidation with a last-minute debt restructuring proposal, according to a report from Reuters quoting information from persons with firsthand knowledge of the situation. A judge stated last month that the failed company, whose earlier plan…
As part of its efforts to reduce costs and diversify its supply chain, Walmart is importing more goods into the United States from India and decreasing its reliance on China, according to data obtained by Reuters. Between January and August of this year, the largest retailer in the world transported 25% of its imports into…
Investors are placing bets that banks in India and Indonesia have the best lending and profitability profiles to generate returns in 2019, as the region’s banking sector navigates a peak in global interest rates and challenges of slower growth. Asian central banks have followed the U.S. Federal Reserve’s tightening monetary policy in the last eighteen…
On Wednesday, a global watchdog suggested that banks release comprehensive data about the effects of climate change on their operations beginning in January 2026. This would enable investors and regulators to assess the risk management practises of the banks. In order to ensure that banks have adequate capital to stay stable and to facilitate investor…
The central bank of China announced that it would employ aggressive and focused monetary policy to better stimulate domestic demand while warding off systemic dangers to the economy. The bank outlined the overall direction of financial policy in its quarterly policy implementation report and stated that it will make use of all available monetary measures…
China-based fashion brand Shein has quietly filed to go public in the US, as reported on Monday, according to two people familiar with the situation. Here are some important details: Who Is Shein? Since its founding in 2012 by Chinese businessman Chris Xu, Shein has expanded to become a worldwide fashion marketplace that, according to…
In an effort to encourage families to contribute to China’s fight against climate change, the local government is encouraging passengers at a glittering new metro station on the outskirts of Shenzhen to collect “carbon coins” that they can then exchange for shopping vouchers and travel cards. The “Carbon Road for Everyone” programme in the southeast…
The United Nations World Tourism Organisation states that one of the travel industry’s fastest-growing segments is sports tourism. According to Lisa Delpy Neirotti, director and professor of George Washington University’s Sport Management Programme, the industry is enormous and will only continue to expand. “The sport tourism market will continue as long as new opportunities to…
The conflict between hybrids and electric cars appears to have taken a new turn as Elon Musk of Tesla Inc. has apparently decided to put more emphasis on hybrids. According to a Wall Street Journal story, Musk confronts a struggle as U.S. EV sales growth slows and hybrids acquire new popularity. Musk wants to overtake…
For 12,000 workers in the UK, KPMG has frozen pay; they will not receive raises unless they are promoted. This follows the deals advisory arm’s layoffs and salary freezes. Roughly 12,000 UK employees’ salaries have apparently been suspended by KPMG, one of the Big Four accounting firms. The Financial Times reported that KPMG executives told…
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