Trading of shares of heavily indebted property developer China Evergrande suspended in Hong Kong
Residents walk past a map showing Evergrande development projects in China, at an Evergrande city plaza in Beijing, Sept. 18, 2023. (AP Photo/Andy Wong)
HONG KONG -
Share trading of heavily indebted Chinese property developer China Evergrande Group was suspended in Hong Kong on Thursday, according to a notice on the Hong Kong stock exchange.
The suspension comes after Bloomberg News reported that the chairman of Evergrande, Hui Ka Yan, had been taken away earlier this month and placed under police watch according to people with knowledge of the matter.
Shares of Evergrande closed at 32 Hong Kong cents on Wednesday. The company had resumed trading on Aug. 28 after a 17-month hiatus.
Evergrande is the world's most heavily indebted real estate developer and is at the centre of a property market crisis that is dragging on China's economic growth.
Last week, Evergrande said in a filing that it had to delay a proposed debt restructuring meeting with creditors as "sales of the group have not been as expected by the company."
The group is undergoing a restructuring plan, including offloading assets, to avoid defaulting on US$340 billion in debt.
On Friday, China's national financial regulator announced it had approved the takeover of the group's life insurance arm by a new state-owned entity.
Earlier in September, police in Shenzhen, a southern Chinese city, said they had detained some staff at China Evergrande Group's wealth management unit.
A series of debt defaults in China's sprawling property sector since 2021 have left behind half-finished apartment buildings and disgruntled homebuyers. Observers fear the real estate crisis may further slow the world's second-largest economy and spill over globally.
Shopping Trends
The Shopping Trends team is independent of the journalists at CTV News. We may earn a commission when you use our links to shop. Read about us.
YOUR FINANCES
Here's how much more your Christmas dinner will cost this year
Celebrating with your family this December could come with increased expenses as data shows many traditional holiday foods are going up in price.
Canadians increasingly turning to charities to meet essential needs, but cost of living also hitting donations
Every Giving Tuesday, many Canadians generously dig into their wallets to donate to charities, but as the cost of living climbs, research suggests many Canadians are also in need of help.
Here's how much more it's expected to cost to feed a family of 4 in Canada next year
A new report by more than 30 researchers is estimating how much food will cost in 2024 and how much money it will take to feed families.
What is the grocery code of conduct, and will it help to lower the cost of food?
Canada's grocery code of conduct is in the final stages with advocates saying it would help lower food prices while big grocers say it won't.
Poor Inuit housing 'direct result of colonialism': federal housing advocate
A federal housing advocate is accusing every level of government in Canada of failing to uphold the Inuit's right to housing -- and therefore denying their human rights.
Having financial problems? Don't get caught in debt relief scams
With inflation, rising interest rates, and higher costs for gas, groceries and housing, many Canadians are feeling the financial pinch and now personal bankruptcies are on the rise.
Do you tip at a restaurant like Chipotle? Here’s what a survey found
But the majority of Americans say they tip 15 per cent or less for a typical meal at a sit-down restaurant, according to a wide-ranging new poll on tipping attitudes from Pew Research Center. The poll surveyed nearly 12,000 people.
Loblaw raises the affordability alarm as grocery code of conduct nears completion
As the grocery code of conduct nears completion, the Canadian industry's biggest player is raising concerns the guidelines could add fuel to the food inflation fire.
CTVNews.ca Top Stories
'No one else has done this on the planet': Guilbeault insists emissions cap delay is due to novelty
Environment and Climate Change Minister Steven Guilbeault says the delay in announcing details of his government’s proposed oil and gas sector emissions cap is due to its uniqueness and to wanting to get it right.
Buckingham Palace releases this year’s Christmas card
Buckingham Palace released an image of the Christmas card that King Charles III and Queen Camilla will be sending out this year.
Canada has a secretive history of adoption, and some want it brought to light
In a theatre in St. John's, N.L., a murmur spreads through the audience as people timidly raise their hands. They have been asked if they saw their own stories reflected in the film they just watched -- 'A Quiet Girl.'
Trump dismisses warnings that his victory would threaten democracy and says Biden is the real threat
Former President Donald Trump on Saturday characterized warnings that his victory in 2024 would represent a threat to democracy as a 'hoax' and 'Democrat misinformation.'
In inaugural speech, Argentina's Javier Milei prepares nation for painful shock adjustment
It wasn't the most uplifting of inaugural addresses. Rather, Argentina's newly empowered President Javier Milei presented figures to lay bare the scope of the nation's economic 'emergency,' and sought to prepare the public for a shock adjustment with drastic public spending cuts.
'People are confused': Survey suggests Canadians need education on Charter rights
While one-third of Canadians say they have read the Charter of Rights and Freedoms, many fail to distinguish between its text and that of the U.S. Declaration of Independence, a new survey suggests.
Catholic priest in small Nebraska community dies after being attacked in church
A Catholic priest in a small Nebraska community died Sunday after being attacked in a church rectory, authorities said.
Elon Musk restores X account of conspiracy theorist Alex Jones
Elon Musk has restored the X account of conspiracy theorist Alex Jones, pointing to a poll on the social media platform formerly known as Twitter that came out in favour of the Infowars host who repeatedly called the 2012 Sandy Hook school shooting a hoax.
Tennessee residents clean up after severe weekend storms killed 6 people and damaged neighbourhoods
Central Tennessee residents and emergency workers cleaned up Sunday from severe weekend storms and tornadoes that killed six people and sent more to the hospital while damaging buildings, turning over vehicles and knocking out power to tens of thousands.
Canada
-
Canada has a secretive history of adoption, and some want it brought to light
In a theatre in St. John's, N.L., a murmur spreads through the audience as people timidly raise their hands. They have been asked if they saw their own stories reflected in the film they just watched -- 'A Quiet Girl.'
-
Every phone call is a goodbye, says Vancouver resident with family in Gaza
Omar Mansour says every phone call with his family in the Gaza Strip might be the last.
-
B.C. Amber Alert cancelled, 2-month-old child found safe
Mounties in Surrey, B.C., say the two-month-old child who was the subject of an Amber Alert Saturday afternoon has been found safe.
-
Ibrahim Ali found guilty of killing 13-year-old girl in B.C.
A jury has found Ibrahim Ali guilty of killing a 13-year-old girl whose body was found in a Burnaby, B.C., park in 2017.
-
Feds recover $40M from defunct Quebec vaccine developer Medicago
The federal government has recovered $40 million of its investment in the now-defunct Quebec-based vaccine developer Medicago as part of a deal with the parent company, the innovation minister announced Thursday.
-
2 Ontario men charged after allegedly producing recruitment videos for listed terrorist entity
Two men from Ontario have been arrested on charges of terrorism after allegedly producing recruitment videos for a listed terrorist organization and circulating far-right manifestos online, police say.
World
-
Trump dismisses warnings that his victory would threaten democracy and says Biden is the real threat
Former President Donald Trump on Saturday characterized warnings that his victory in 2024 would represent a threat to democracy as a 'hoax' and 'Democrat misinformation.'
-
Tennessee residents clean up after severe weekend storms killed 6 people and damaged neighbourhoods
Central Tennessee residents and emergency workers cleaned up Sunday from severe weekend storms and tornadoes that killed six people and sent more to the hospital while damaging buildings, turning over vehicles and knocking out power to tens of thousands.
-
Woman charged with manslaughter after 2 sets of young twins killed in 2021 U.K. fire
A woman has been charged with four counts of manslaughter after two sets of young twins were killed in a fire that ripped through a London home in 2021.
-
Catholic priest in small Nebraska community dies after being attacked in church
A Catholic priest in a small Nebraska community died Sunday after being attacked in a church rectory, authorities said.
-
France says one of its warships was targeted by drones from direction of Yemen. Both were shot down
France said Sunday that one of its warships in the Red Sea was targeted by two drones coming from Yemen. Both were intercepted and shot down.
-
In inaugural speech, Argentina's Javier Milei prepares nation for painful shock adjustment
It wasn't the most uplifting of inaugural addresses. Rather, Argentina's newly empowered President Javier Milei presented figures to lay bare the scope of the nation's economic 'emergency,' and sought to prepare the public for a shock adjustment with drastic public spending cuts.
Politics
-
Mideast ministers in Ottawa to discuss Israel-Hamas war with Joly, Trudeau
A group of foreign ministers from the Palestinian Authority, Saudi Arabia and Turkiye are in Ottawa today for a quietly planned meeting with Foreign Affairs Minister Melanie Joly to discuss attempts to end the Israel-Hamas war.
-
'People are confused': Survey suggests Canadians need education on Charter rights
While one-third of Canadians say they have read the Charter of Rights and Freedoms, many fail to distinguish between its text and that of the U.S. Declaration of Independence, a new survey suggests.
-
Marathon Conservative carbon tax filibuster ends after nearly 30 consecutive hours of House votes
The Conservative-prompted filibuster in the House of Commons ended Friday night, after MPs spent nearly 30 hours voting non-stop on the government's spending plans.
Health
-
A pregnant Texas woman asked a court for permission to get an abortion, despite a ban. What's next?
Kate Cox, a mother of two in Texas, became pregnant again in August but soon after learned devastating news: Her baby has a fatal condition and is likely to either be stillborn or die shortly after birth.
-
Quebec health reform bill passes after government invokes closure
After sitting through the night, early Saturday morning, members of the Quebec legislature finally passed Bill 15 to reform the health-care network, voting 75 to 27.
-
From general practitioner to treatment: Canadians' waited longer for health care in 2023
A new report from the Fraser Institute, a Canadian think tank, says people waited longer in 2023 to receive treatment from a specialist. Here's where.
Sci-Tech
-
Europe reaches a deal on the world's first comprehensive AI rules
European Union negotiators clinched a deal Friday on the world's first comprehensive artificial intelligence rules, paving the way for legal oversight of AI technology that has promised to transform everyday life and spurred warnings of existential dangers to humanity.
-
Pompeii archaeologists uncover bakery that doubled as a prison
An ancient bakery operated by slaves has been discovered in the ruins of Pompeii, the Pompeii Archaeological Park said in a statement released Friday.
-
Nuclear fission may play key role in the creation of heavy elements when neutron stars collide: study
New scientific models are suggesting that nuclear fission may play a key role in the creation of heavy elements in the universe—which, if true, would be the first example of nuclear fission occurring in space.
Entertainment
-
Miyazaki's 'The Boy and the Heron' is No. 1 at the box office, a first for the Japanese anime master
For the first time in Hayao Miyazaki's decades-spanning career, the 82-year-old Japanese anime master is No. 1 at the North American box office. Miyazaki's latest enchantment, 'The Boy and the Heron,' debuted with $12.8 million, according to studio estimates.
-
Ryan O'Neal, star of 'Love Story,' 'Paper Moon,' 'Peyton Place' and 'Barry Lyndon,' dies at 82
Ryan O'Neal, the heartthrob actor who went from a TV soap opera to an Oscar-nominated role in 'Love Story' and delivered a wry performance opposite his charismatic 9-year-old daughter Tatum in 'Paper Moon,' died Friday, his son said.
-
Taylor Swift's Eras Tour is the 1st tour to gross over US$1B, Pollstar says
Taylor Swift's Eras Tour is the first tour to cross the billion-dollar mark, according to Pollstar's 2023 year-end charts.
