Bangladesh Banking Crisis Deepens as Defaulted Loans Hit Record

NWD Secures Bank Funding and Avoids Default

Hong Kong property giant New World Development has secured bank funding, avoiding a default that was expected to send ripples to the city’s financial industry. New World Development (NWD) has secured HK$88.2 billion ($11.2 billion) in refinancing in what it calls «New Bank Facility and the Aligned Bank Facilities», according to a statement from the property group owned by the billionaire Cheng family. «We would like to express our sincere gratit…

Bangladesh Banking Crisis Deepens as Defaulted Loans Hit Record

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