An empty street and closed shops on Granville Road in Tsim Sha Tsui on February 9, 2021, amid the coronavirus pandemic. Photo: Nora Tam
Hong Kong banks’ profit plunge as margins narrow amid cheap rates

The dismal state puts the HKMA and the city’s banks in a dilemma: whether to extend the interest holiday for the 3,500 businesses that still rely on it for survival, or end the support to bolster banks’ balance sheets.

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Chinese developer Yuzhou Group Holdings said its liquidity crisis has made it impossible to service bond payments due this week. Photo: Handout
Chinese developer Yuzhou warns of bond defaults amid rising liquidity crisis

Shenzhen-based developer says it will not make payment on dollar bonds due Tuesday, but plans to relaunch an exchange offer for the notes and maintain active communication with investors.

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