Shanghai Chaori Solar Energy Science & Technology Co. fell by the daily limit after its stock resumed trading for the first time since its bond default. A Chinese textile company with junk debt entered bankruptcy.
A closely held Chinese real estate developer with 3.5 billion yuan ($566.6 million) of debt has collapsed and its largest shareholder was detained, government officials familiar with the matter said yesterday.
Kenya has started drilling at newly discovered underground water reserves in the drought-hit north, which can supply the country for 70 years, Business Daily reported, citing Japheth Mutai, head of the Rift Valley Water Services Board.
East African Breweries Ltd. fell for a sixth day after it reported first-half sales that were below investors’ expectations and as a Nairobi-based newspaper said the company was reducing operations at a plant.
Corn growers in Kenya lost billions of shillings of revenue after grain merchants rejected deliveries contaminated with aflatoxin, Business Daily reported, citing the National Cereal and Produce Board.