A last-minute refinancing deal could delay default--but the clock's ticking, and investor nerves are fraying fast.

For decades, Hong Kong’s “big four” property dynasties have been viewed as cash-rich bastions of stability. A crisis of confidence at New World Development is now putting that notion to the test. In ...

[HONG KONG] Hong Kong bankers have become fixated on an US$11 billion loan deal with unusually high stakes for the financial hub. New World Development (NWD), an embattled property developer ...

Shares of property group New World Development soared as much as 24 per cent on Friday after the third-generation scion of one of Hong Kong’s wealthiest families stepped down as chief executive.

Cheng Yu-tung's family is one of the richest in Hong Kong, with a property empire larger than Central Park. The family also owns the Carlyle, the glitzy New York City hotel that's tied to the Met ...

Reuters. FILE PHOTO: A general view of developer New World Development's office tower, K11 Atelier King's Road, in North Point of Hong Kong, China February 2, 2023.