Economy

2023-06-21 06:33:56

Mastercard cardholders around the world can now choose to pay cashless in Mainland China with their mobile devices at tens of millions of Alipay-accepting locations. At the same time, if a tourist holds a Mastercard issued in Hong Kong, Macau, Taiwan, or South Korea, he or she can register with Mastercard Travel Rewards, and immediately enjoy extra benefits such as cash rebates in popular travel activities such as shopping, dining, sightseeing, and transportation.

Li Yongshi, General Manager of International Business in Greater China, Ant Group, said that the expanded cooperation between Alipay and MasterCard will not only improve the travel experience of inbound international tourists, but also open up the merchants on the Alipay platform once morest the backdrop of the continued recovery of global tourism. Bring more overseas business opportunities.

According to the fourth annual travel report of the MasterCard Economic Research Institute, the global tourism industry is continuing to recover. Driven by high-income consumers, leisure travel bookings in March this year increased by regarding 31% compared with the same period in 2019.

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It is reported that China Gold is sponsoring Jitu’s listing and Cainiao plans to change to CITIC and JPMorgan as sponsors

HSBC Hong Kong and Shanghai Appoints Former KPMG Hong Kong Partner as Independent Non-Executive Director

The half-day short selling amount is 6.1 billion, and the short selling amount of Profit & Fortune is the largest

Ping An OneConnect wins the Annual Virtual Silver Excellence Award from Bloomberg Businessweek/Chinese Edition

PCCW: Canal+’s US$300 million strategic investment in VIU can be increased to 51% following exercise

Xie Ruilin turns from profit to loss and loses 71.44 million for the whole year without paying final dividend

The Hang Seng Index fell 373 points in half a day, and the KCI fell 2.2%.

Greater Bay Area Airlines to Increase Flights Between Hong Kong and Ho Chi Minh City in July

Ministry of Industry and Information Technology: Increase the proportion of electric vehicles in cities and cultivate international automobile groups

Chen Long, President of Ali Strategic Planning: At present, AI changes are still limited to tools and content

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2023-06-12 18:50:48
Government-promoted National Asset Reconstruction Company has given lenders binding offers to acquire loans of SEW LSY Highways, Haridwar Highways Project and Kamachi Steel, said people aware of the development.

Separately, NARCL is set to acquire loans of SPML Infra and Dharani Sugars following an uncontested Swiss auction, the people said.

If lenders approve a binding offer for the two road projects and the steel company, it will be followed by a Swiss challenge auction. NARCL’s offer for the three companies is less than 10% of their outstanding dues, one of the persons said.

The state-backed bad bank’s binding offer of ₹405 crore for SPML Infra, an engineering, procuring and construction (EPC) company, triggered a Swiss challenge auction schedule on June 6. NARCL is preparing to acquire the loan in cash and security receipts since lenders did not receive any counteroffer. Lenders will recover 33% of the dues from the sale of the EPC company.

Haridwar Highways Project is a special-purpose vehicle of Era Infra Engineering that won a contract from the National Highways Authority of India to strengthen the 80-km stretch from Muzaffarnagar in Uttar Pradesh to Haridwar in Uttarakhand. The total project cost escalated to ₹1,563 crore, which included loans of regarding ₹980 crore. In the past, lenders attempted to change the concessionaire but failed to find a replacement.

SEW LSY Highways, a special purpose vehicle promoted by SEW Infrastructure had won a contract for converting two lanes of a 206-kilometre stretch of the Delhi-Saharanpur-Yamunotri highway into four lanes. The company has loans of ₹1,700 crore, but the project was terminated by the Uttar Pradesh State Highways Authority, delaying debt servicing since 2014.

Kamachi Steels is a part of Kamachi Industries, undergoing liquidation under the Insolvency and Bankruptcy Code.

Meanwhile, another Swiss challenge auction of Parenteral Drugs is scheduled on Wednesday following a binding offer of ₹45 crore by NARCL on a loan of ₹112 crore.

In March, NARCL emerged as the winning bidder for the loans of Dharani Sugars and Chemicals at an uncontested Swiss auction. The ARC offered ₹222.5 crore to acquire the loan book of ₹619 crore, which equated to a recovery of 36% for lenders.

However, the NARCL will be able to close the deal only following the government issues a fresh guarantee on redemption of the security receipts, which has been pending since the beginning of this fiscal year. The shortfall in the recovery of loans promised by NARCL is guaranteed by the government.

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2023-06-21 23:30:00

About twenty tenants are fighting once morest their landlord who is trying to evict them to expand his accommodation and rent them twice as much.

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“We don’t want to leave. We love our building, we want to keep it, we don’t want to be forced to leave our home and be sent to retirement homes because we can’t find accommodation”, indignant Edouard Fell, 70, who has lived in his 4 1/2 on rue Durocher for 14 years.

Of the eight tenants in his building, seven have received an eviction notice from their landlord who wishes to make extensions. All of them decided to fight by contesting their eviction at the Administrative Housing Tribunal (TAL) and thus prevent their landlord from kicking them out.

“All he wants is to make money, whereas we have been here for a long time,” continues Mr. Fell, who pays $710 a month for his accommodation.

It is that its owner bought the building in 2021 for 1.22 million dollars, before reselling it to his own numbered company for 1.6 million dollars a few months later.

Elders

In the residential building, almost all the tenants have lived there for more than ten years. Some, for more than 30 years, says Mr. Fell, who receives a small pension and survives on his savings.

“I am 70 years old, my neighbor is over 70 and another is 85. Two others are in their late sixties. We are a building with a senior community,” he explains.

For André Trépanier, of the Parc-Extension Action Committee, it is clear that the owner is showing bad faith. Especially since in the neighborhood, evictions have drastically increased in recent years with the construction of the new

“He says he wants to expand backwards, but he has offered some tenants to pay more each month, telling them they won’t be evicted,” he says.

Same fight in Rosemont

In Rosemont, the same owner faces 15 tenants of two buildings who have also decided to contest the eviction he sent them with the same reason, explains Jean-Claude Laporte, of the Rosemont Housing Committee.

“We’re in trouble because the borough’s by-law prohibiting expansions is very clear when it’s an interior expansion. Except that there, the owner wants to enlarge from the back and therefore it is not framed, ”he laments.

For Edouard Fell, it is clear that the lack of political will to better protect tenants is responsible for this situation.

“The prime minister doesn’t care regarding the tenants, he doesn’t deserve to be head of government,” he maintains.

It is for this reason that he will demonstrate at the Parc metro station in Montreal tomorrow, with dozens of other tenants and housing rights advocacy group, in particular once morest the withdrawal of the assignment of lease from the bill of government.

At the time of this writing, it has not been possible to reach the owner.

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