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Month: January 2024

Order to liquidate property giant China Evergrande is just one step in fixing China’s debt crisis

By ELAINE KURTENBACH and ZEN SOO AP Business Writers BANGKOK (AP) — A Hong Kong court’s order to liquidate the world’s most heavily indebted real estate developer is only a tentative step toward resolving a debt crisis that is haunting financial markets and dragging on the Chinese economy. China Evergrande owes about $340 billion to

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UK fines HSBC bank for not going far enough to protect deposits in case it collapsed

LONDON (AP) — UK regulators say HSBC has been fined $72.8 million for failing to adequately protect customer deposits in the event the bank collapsed. The Prudential Regulation Authority said Tuesday that two units of London-based HSBC Holdings Plc violated rules designed to ensure regulators have the information they need to protect depositors when banks

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Nearly 400 Ethiopians have died of starvation recently. Millions more need food aid

By RODNEY MUHUMUZA Associated Press KAMPALA, Uganda (AP) — Nearly 400 people have died of starvation in Ethiopia’s Tigray and Amhara regions in recent months, the country’s ombudsman said Tuesday, a rare admission of hunger-related deaths by a federal body. Local officials have previously reported starvation deaths in their districts, but Ethiopia’s federal government has

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After a record year, Norway’s giant oil fund pledges to push sustainable energy

By MARK LEWIS Associated Press STAVANGER, Norway (AP) — The manager of the world’s largest sovereign wealth fund is pledging to push major oil and gas companies to speed up preparations for the “inescapable” transition away from fossil fuels. Norway’s Government Pension Fund Global on Tuesday reported the largest annual return in its history, a

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A UN envoy says her experience in Colombia deal may help her efforts in restarting Cyprus talks

By MENELAOS HADJICOSTIS Associated Press NICOSIA, Cyprus (AP) — A United Nations official says her experience in negotiating an end to decades of conflict in her native Colombia may help her as she seeks to rekindle negotiations over Cyprus’ ethnic division. María Ángela Holguín Cuellar, the U.N. chief’s new personal envoy for Cyprus, said on

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