Lenders Seen Scrutinizing China Mega-Dam's Green Finance Risks
Banks and investors typically look closely at large-scale hydropower to ensure developers have understood potential risks to water availability, wildlife and the local ecology, Nneka Chike-Obi, the data provider's head of Asia-Pacific ESG ratings and research, said Monday in an interview with Bloomberg Television.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
10 minutes ago
- Yahoo
PwC India plans to create 20,000 additional jobs in next five years
PwC India has unveiled plans to increase its employee base to 50,000 over the next five years with the creation of 20,000 new jobs. The company announced its Vision 2030 approach with a target of tripling its revenue within five years. This plan includes a commitment to invest more than 5% of annual revenues in technology and innovation. The firm intends to concentrate on several key areas, such as digital transformation, sustainability, risk management, cloud computing, and cybersecurity, to assist clients in adapting to ongoing changes in the business landscape. PwC India perceives the forthcoming five years as a crucial time for the country to influence its future, aligning its goals with the broader national vision of 'Kal Ka Bharat.' The firm's strategy aims to support India's development while pursuing its own growth. The firm plans to allocate 1% of its revenues to employee training and development. It is also looking to expand its operations into Tier 2 and 3 cities, focusing on sector-specific and digital skills to promote local economic growth. Additionally, PwC India aims to enhance its social contributions through the PwC India Foundation, with a target to impact more than 500,000 lives by 2030. The firm's growth strategy is centred around six primary sectors: financial services, healthcare, industrial manufacturing, automotive, technology, and media and telecom. These sectors are seen as having significant potential for transformative change. PwC India will also explore emerging sectors to establish an early foothold. The firm acknowledges that future success will require significant changes in business models and operations. As such, it is transitioning from a traditional service provider to a more modern, delivery-oriented organisation, leveraging sector expertise and advanced technologies. Continued investment in regional delivery centres and centres of excellence is part of this strategy, aimed at improving service delivery for both domestic and international clients. With operations in all major Indian cities, nearly 900 partners, and a workforce of 30,000, PwC India is focused on maintaining a steady growth trajectory, having experienced consistent growth over the past four years. "PwC India plans to create 20,000 additional jobs in next five years" was originally created and published by International Accounting Bulletin, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Wall Street Journal
13 minutes ago
- Wall Street Journal
Markets No Longer Move So Much on Trump Tariff News. Why?
🔎 This is an online version of Spencer's Markets A.M. newsletter. Get investing insights in your inbox each weekday by signing up here—it's free. 📧 A funny thing happened Monday in the market: not much, despite President Trump's announcement that he would again delay heavy tariffs on China. The surest way to make money trading this year—even better than scouring social media for the next meme stock—had been to guess in advance what the president would say on his Truth Social account. Much of it, needless to say, was about tariffs.
Yahoo
35 minutes ago
- Yahoo
World's most indebted company, China Evergrande, delisted from Hong Kong stock exchange
Evergrande, once China's second-largest property developer and now the world's most indebted company, said on Tuesday it will be delisted from the Hong Kong stock exchange on 25 August. The company, founded in 1996, grew on a wave of debt-fuelled expansion by aggressively borrowing to buy land and build projects. It later diversified into wealth management, electric vehicles, theme parks, bottled water and even a soccer club. Delisting in Hong Kong Evergrande was the world's most heavily indebted real estate developer, with over $300 billion (€257.1bn) owed to banks and bondholders, when the court handed down a liquidation order in January 2024. The court had ruled that the company had failed to provide a viable restructuring plan for its debts, which fuelled fears about China's rising debt burden, and trading of its shares has been halted since the ruling. The Hong Kong stock exchange stipulates that the listing of companies may be cancelled if trading in their securities has remained suspended for 18 months consecutively. China Evergrande Group received a letter on 8 August from the city's stock exchange notifying the firm of its decision to cancel the listing as trading had not resumed by 28 July. The last day of the listing will be 22 August and Evergrande will not apply for a review of the decision, the company said in a statement. 'All shareholders, investors and potential investors of the company should note that after the last listing date, whilst the share certificates of the shares will remain valid, the shares will not be listed on, and will not be tradeable on the Stock Exchange," the statement said. Related Half of trucks produced at Scania's €2bn production site in China will be exported Russian stocks climb ahead of Trump-Putin summit on Friday A trouble-ridden sector Evergrande is among scores of developers that defaulted on debts after Chinese regulators cracked down on excessive borrowing in the property industry in 2020. Unable to obtain financing, their vast obligations to creditors and customers became unsustainable. The crackdown also tipped the property industry into crisis, dragging down the world's second-largest economy and rattling financial systems in and outside China. Once among the nation's strongest growth engines, the industry is struggling to exit a prolonged downturn. House prices in China have continued to fall even after the introduction of supportive measures by policymakers. The Hong Kong court system has been dealing with liquidation petitions against several Chinese property developers, including one of the largest Chinese real estate companies, Country Garden, which is expected to have another hearing in January. China South City Holdings, a smaller property developer, was also ordered to liquidate on Monday. Evergrande, founded in the mid-1990s by Hui Ka Yan, also known as Xu Jiayin, had over 90% of its assets on the Chinese mainland, according to the 2024 ruling. The firm was listed in Hong Kong in 2009 as 'Evergrande Real Estate Group' and suspended its share trading on 29 January 2024, at 0.16 Hong Kong dollars (€0.017). The liquidators said they have assumed control of over 100 companies within the group and entities under their direct management control with collective assets valued at $3.5 billion (€2.99bn) as of 29 January 2024. They said an estimate of the amounts that may ultimately be realised from these entities wasn't available yet. About $255 million (€218.5m) worth of assets have been sold, the liquidators said, calling the realisation 'modest." 'The liquidators believe that a holistic restructuring will prove out of reach, but they will, of course, explore any credible possibilities in this regard that may present themselves,' they said. Hui, Evergrande's founder, was detained in China in September 2023 on suspicion of committing crimes, adding to the company's woes. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
