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Ratings agency S&P warns of risks from aggressive land banking by Chinese developers

The rush by Chinese real estate developers to rebuild their land banks during the recent property revival could expose those with weaker capital positions to problems as bond repayments come due, S&P Global Ratings said in a research note on Wednesday.The rating agency said it was most concerned about real estate companies with thin land reserves, as these groups have been active in building up reserves in step with the rising market since March.“Given the strength of the market, developers… Source link

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Boeing says it needs more time to upgrade its software to make the stall-prevention system in 737 MAX aircraft less aggressive

Boeing says it needs more time to finish a software upgrade for its grounded 737 MAX jetliners as company engineers update a stall-prevention system linked to two fatal crashes in five months.The planemaker said last week it would submit final paperwork for the revamp to the Federal Aviation Administration by March 29 to make the system – known as MCAS – less aggressive in pushing down a plane’s nose, and to add redundancy so that it’s less likely to activate when other systems malfunction.Now… Source link

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Sino Land offers aggressive discounts at Tai Po development to woo buyers

Hong Kong developer Sino Land is offering up to 30 per cent discounts at a development in Tai Po to try to drum up sales amid a weakening housing market in the city. The developer is selling the first batch of 108 units of its Mayfair by the Sea development 8 in Tai Po district, New Territories, at an average price of HK$13,228 (US$1,686.65) per square foot, it said Monday. In comparison, The St Martin by Sun Hung Kai Properties, about a 10-minute walk away, sold for an average HK$18,698…

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Hong Kong, Shanghai stocks fall after US Fed defies investors’ call and keeps aggressive pace of interest rate increases

Hong Kong and Shanghai stocks dropped in Thursday’s early trading, along with other Asian markets, as the US Federal Reserve Chairman Jerome Powell kept his aggressive pace of rate increases and ignored investors’ calls for a slower clip. The Fed raised the key interest rate by 25 basis points for the fourth time this year, setting US rates in a range of between 2.25 per cent and 2.5 per cent, defying a call by investors including President Donald Trump to ease up on raising the cost of money. The move…

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