Authorities turn seized home towers at Evergrande’s resort island to rental, commercial use

Almost 40 residential buildings of China Evergrande Group’s (3333.HK) mega resort project on Hainan island seized by the local government will be completed for rental housing, serviced apartments and commercial activities. In December, the government of Danzhou city ordered demolition of 39 towers in the Ocean Flower Island development, containing roughly 3,900 of the project’s […]

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Japan foreign reserves fall for third month after intervention

Japan’s foreign reserves extended declines in October, following the previous month’s record drop, the Ministry of Finance said on Tuesday, reflecting the largest ever amount of yen-buying, dollar-selling intervention. The data comes alongside separate figures that confirmed Japan did not conduct stealth intervention in September and only entered the market to buy yen for U.S. […]

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