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China’s Evergrande labelled defaulter by S&P for failed coupon payments

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China’s Evergrande labelled defaulter by S&P for failed coupon payments

China Evergrande Group was listed as a defaulter by Standard & Poor’s Global Ratings, which is the second credit risk assessment agency to do so.

Since Evergrande failed to pay the coupon before the end of the grace period earlier this month, Standard & Poor’s Global downgraded it to “selective default,” a move that may trigger a cross default of developers’ $19.2 billion debt. S&P Global also revoked the rating of the group at the request of Evergrande.

Fitch Ratings took the lead in announcing the default of the real estate developer on December 9. For a long time, Evergrande has been considered by many investors to be too large to fail, becoming the biggest victim of Chinese President Xi Jinping’s control of the country’s debt-laden conglomerate and the overheated real estate market. As liquidity pressures intensify, concerns have spread to Shimao Group holdings and other companies with higher ratings.

Earlier this month, the governor of the People’s Bank of China stated that Evergrande’s situation must be dealt with by the market, indicating that Beijing will not bail out the world’s most indebted developer because it is struggling with more than $300 billion in debt. Evergrande has stated that it plans to “actively engage” with overseas creditors regarding the restructuring plan. People familiar with the matter said separately that the company intends to include all of its offshore public bonds and private debt. Holders of Evergrande bonds, including Marathon Asset Management, said they expect offshore creditors to be close to the bottom of the repayment queue. According to people familiar with the matter, Evergrande is giving priority to payments to migrant workers and suppliers because the regulator urges the funding-strapped developer to avoid any risk of social unrest.

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As the group’s stocks and bonds plummeted, founder Xu Jiayan’s wealth has shrunk by $17.2 billion this year. The second richest man in Asia, who once had a fortune of 42 billion US dollars, is now worth 6.1 billion US dollars.

Complete News Source : Hindustan Times

Hollywood

Review of the spy thriller “Heart of Stone”: Alia Bhatt shines.

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Review of the spy thriller “Heart of Stone”: Alia Bhatt shines.

In a realm where intrigue and suspense collide, Bollywood’s beloved star Alia Bhatt has once again proven her mettle in the enthralling spy thriller “Heart of Stone.” Directed by the visionary Raj Mehta, this cinematic marvel takes audiences on a roller-coaster ride through espionage, deception, and unrelenting action, with Bhatt’s luminous performance at its epicenter.

A Glimpse into the Plot

“Heart of Stone” delves into the shadowy world of espionage, where nothing is as it seems, and allegiances can crumble in an instant. Bhatt’s character, Maya Verma, is a compelling enigma—a resolute intelligence operative navigating a labyrinth of covert operations and intricate deceptions. As the layers of the narrative peel away, Maya finds herself ensnared in a high-stakes game where trust is elusive and danger lurks in every frame.

The Resplendent Alia Bhatt

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Alia Bhatt’s portrayal of Maya Verma is nothing short of a revelation. Known for her remarkable versatility, Bhatt imbues Maya with a potent mix of strength and vulnerability. With every expression, every gesture, she breathes life into a character that resonates on both emotional and cerebral levels. Bhatt’s artistry reaches its zenith as Maya grapples with inner demons while outwitting her adversaries—a captivating dance that only an actress of her caliber could orchestrate.

Raj Mehta’s Directorial Panache

Raj Mehta, celebrated for his directorial finesse, orchestrates the tapestry of “Heart of Stone” with masterful precision. Seamlessly weaving heart-thumping action sequences and labyrinthine plot twists, Mehta keeps the audience on the edge of their seats. His meticulous attention to detail manifests in every scene, painting a cinematic canvas that’s as thrilling as it is visually arresting.

Supporting Cast: A Tapestry of Brilliance

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The constellation of talent in “Heart of Stone” goes beyond Alia Bhatt. The ensemble cast, featuring Rajkummar Rao, Aditi Rao Hydari, and Vicky Kaushal, contributes to the film’s tapestry with their impeccable performances. The chemistry between the characters adds depth to the narrative, amplifying the emotional resonance and enriching the overall storytelling.

A Symphony of Cinematic Excellence

“Heart of Stone” is an embodiment of cinematic finesse. The film’s production values, from picturesque locations to evocative cinematography, envelop the viewer in a sensory feast. The musical score, composed with an acute understanding of the narrative’s ebbs and flows, elevates the tension and emotions, further ensnaring the audience in the movie’s spellbinding aura.

A Triumph of Genre Fusion

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Critics and audiences alike have bestowed “Heart of Stone” with effusive praise for its seamless fusion of espionage, action, and drama. The film’s ingenious plot twists, coupled with Alia Bhatt’s extraordinary performance, thrust it into the echelons of standout espionage thrillers. It’s a symphony of storytelling that resonates long after the credits roll.

In a year replete with cinematic treasures, “Heart of Stone” stands tall as an embodiment of brilliance. Alia Bhatt’s luminosity shines with unparalleled intensity, solidifying her place as one of Bollywood’s brightest stars. This cinematic tour de force is a must-watch, an experience that unearths the magic created when remarkable talent converges to craft an indelible cinematic journey.

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