Country Garden Holdings Co., the Chinese property developer at risk of defaulting, is planning to issue HK$270 million ($34.4 million) of new shares to pay off loans as it faces a cash crunch.
Foreigners will be able to purchase property in New Zealand worth more than NZ$2 million ($1.2 million) if the country’s main opposition National Party wins the October election.
China’s largest exchange-traded fund focused on stocks is poised to see its biggest monthly inflow on record, a sign that some investors are buying the dip and betting on a turnaround amid enhanced policy support. Huatai-Pinebridge CSI 300 ETF has attracted 32 billion yuan ($4.4 billion) of funds so far in August, the most since the product was launched in 2012.
Investor activist group Market Forces called on eight major banks to reconsider providing loans to Jera Co., over concerns that Japan’s top power producer would use the money to expand its fossil fuel business.
SEBA Bank AG, a crypto bank backed by Julius Baer Group Ltd., has received in-principle approval from Hong Kong’s regulator to conduct licensed crypto related services.
China’s largest banks are preparing to cut interest rates on existing mortgages and deposits, the latest state-directed measures to shore up growth in the world’s second-largest economy.
Australia’s sovereign wealth fund posted a 6% annual gain as it warned that high inflation would keep returns lower than investors have enjoyed for the past decade.
The US announced its latest package of military aid to Ukraine, a $250 million drawdown from existing Pentagon stock that includes anti-mine equipment, obstacle-clearing explosives, AIM-9M air-to-air missiles, artillery shells and other ammunition. “This package contains important capabilities to help Ukraine on the battlefield,” Secretary of State Antony Blinken said in a statement.
New Zealand’s main opposition National Party is offering tax cuts to families and middle-income voters, hoping to woo them away from the ruling Labour Party at the October election.
Codelco is facing the possibility of a credit rating cut as slumping production, rising costs and project disruptions dim leverage metrics at the world’s biggest copper supplier.
