Money Talks

Shares in China Evergrande fell 15% to an 11-year low as the company neared a default. The selloff was triggered by the property giant's warning on Friday, that it might not be able to pay more than $80M in obligations that are due today. That puts Evergrande on the verge of a complicated restructuring, which would be the biggest in Chinese history. It could also mean hefty losses for investors.

OANDA Asia Pacific Senior Market Analyst Jeffrey Halley joined TRT World’s Newshour to talk about what this means for Evergrande’s customers and the Chinese economy.

#Evergrande #HuiKaYan #DebtCrisis

The UN is asking for a record 41 billion dollars in humanitarian aid for next year. It's cited the wide range of acute and worsening crises, including conflicts and the spread of COVID-19 infections in places where vaccines aren't available. Global heating is also affecting the livelihoods of people in vulnerable communities, resulting in record levels of food insecurity.

John Sifton is the Asia Advocacy Director at Human Rights Watch. He tells us what's needed on the ground.

#UnitedNations #UNAid #GlobalPoverty

The outcry over travel bans on southern African countries is growing. Healthcare officials say the Omicron variant was already present in other parts of the world before South African scientists became the first to identify the new COVID-19 strain. Ntshepeng Motema reports from Johannesburg on calls to remove the bans and relieve their economic impact.

Bryan Betty is a member of New Zealand's COVID-19 Technical Advisory Group. He explains the fine balance governments must strike when it comes to imposing COVID-19 restrictions.

#SouthAfrica #OmicronVariant #TravelBans

Singaporean ride-hailing app Grab fell flat in its market debut on Wall Street. Its stock price swung from an impressive gain to an alarming loss in the span of one trading session. The price see-sawed over concerns about the company's ability to turn a profit. That's something it's never done, despite having a dominant position in Southeast Asia, a market with hundreds of millions of potential customers.

Victoria Scholar is the head of investment at Interactive Investor in London. She tells us about Grab's path to profitability.

#Grab #RideHailing #GrabIPO

The US labour market sputtered in November, over high fuel prices and fears of an imminent economic slowdown due to a resurgence in COVID-19 cases.

We were joined now by economist Joann Weiner in Washington DC. She's the director of applied economics at George Washington University.

#USLabourMarket #JoblessClaims #Unemployment

- Turkey's annual inflation rises to 21.3% in November

- Kaisa fails to get bondholders' approval for debt swap

- Dubai's DP World withdraws bid to privatise Haifa port

#TurkeyInflation #KaisaGroup #DPWorld

Despite rising international pressure to raise supplies at a faster pace, OPEC and its allies are sticking to monthly output increases of 400,000 barrels per day. The decision was announced on Thursday following a meeting of the world's biggest oil exporters.

#OPEC #OilSupply #OilPrice

- Turkey appoints Nureddin Nebati as finance minister

- S Korea's inflation hits decade high of 3.7% in Nov

- Disney names Susan Arnold as first woman chair

#NureddinNebati #SouthKoreaInflation #SusanArnold

European markets are in the red while Asian stocks are mixed, following big losses overnight on Wall Street. The Dow Jones and S-and-P 500 indices were both down a percent, while the Nasdaq fell more than 1-point-8 percent. The sell-off was triggered by reports of the first case of the Omicron variant in the U-S. That's raised fears that the more infectious coronavirus strain may already be spreading in the world's largest economy.

Craig Erlam joined us. He's a senior market analyst at OANDA in London.

#Omicron #WallStreet #SP500

- Turkey's central bank intervenes in FX markets

- Australia's economy shrinks 1.9% in Q3

- Tel Aviv becomes world's most expensive city

#TurkishLira #AustraliaGDP #CostofLiving