China's largest real estate group, Evergrande and on the brink of bankruptcy announced on Wednesday an agreement with a creditor to avoid the nonpayment of a bond that matured this Thursday. In a release to the Shenzhen stock exchange, its affiliate announced it had reached a plan to pay the bond's interests, (not capital) and of which markets feared the worst.Add your comment!
Asian stocks sank on Monday amid fears of a potential collapse of the beleaguered Chinese real estate company Evergrande could lead to a wave of defaults in China's bloated housing market that could extend from the second-largest economy to the rest of the world. The company must pay this week interests on loans and bonds and experts fear it will not be able to honour creditors.Add your comment!
As the Chinese Evergrande Group falls into debt some regards as an encore of the Lehman Brothers crisis of 2008, markets around the globe have begun to brace for the worst despite little signs of encouragement in the opposing sense.Add your comment!
“Uruguay could be a Silicon Valley of the south”, said Inter-American Development Bank (IDB) President Mauricio Claver-Carone Wednesday after meeting in Montevideo with President Luis Lacalle Pou.Add your comment!
Enrique Antía, Mayor of the Uruguayan department of Maldonado where the elite Punta del Este beach resort is located Tuesday warned of actions by the Buenos Aires Government of President Alberto Fernández to persuade vacationers against travelling abroad next Summer.
The iconic Torres de Manantiales hotel in the traditional Argentine beach resort of Mar del Plata is closing down due to a steady lack of guests resulting from sanitary restrictions which have corseted people's freedom of movement.
The developers of the building which collapsed last week in Southern Florida were under investigation for allegedly bribing local officials to get the permit to build the condominium which has left around 10 people confirmed dead plus some 150 others yet unaccounted for.
US President Joseph Biden Thursday approved an emergency declaration in the state of Florida after at least three people were found dead and about 100 were still unaccounted for when a Miami Beach 12-story condominium fell to its ashes.
A replica of Leonardo Da Vinci's famous Mona Lisa has been sold for 2.9 million euros in an online auction, Christie's house announced. It was a record price for a reproduction.
Argentine businessman Jorge Horacio Brito, one of the richest people in the country, has died, according to a statement from Banco Macro, the bank he founded. Brito, 68, died Friday afternoon following a helicopter crash in the northern province of Salta, the newspapers Clarin and La Nacion reported earlier.