China’s onshore bond market experienced its first default as a solar-cell maker failed to pay full interest on its bonds, signaling the government will back off its practice of bailing out companies with bad debt.
China’s leaders want to lift the gray blanket of deadly smog that often chokes Beijing’s residents by shifting power plants to the less populated western part of the country inhabited by minorities. That’s turning into a nightmare for Ani Yetahon who lives in Oriliq, a village about 1,800 miles from the capital where some residents still walk to the well for their water.
A South African lawmaking committee agreed to revise draft laws to give the state has the right an unspecified share in all new oil and gas ventures at an “agreed price” or part of output, in addition to a previous provision handing it a free 20 percent stake the projects.
The Democratic Republic of Congo, Africa’s biggest copper producer, told miners to halt any project expansion requiring more power amid a shortage that will take years to resolve, according to government documents.
European Union officials are reviewing an antitrust complaint against OAO Gazprom, the Russian state-controlled gas company, as they weigh how the two- year-old dispute will affect the conflict in Ukraine, according to people familiar with the case.
South African legislators said they plan to adopt changes to mining and oil laws before Parliament adjourns ahead of May 7 elections, overriding industry concern that the measures are ill-considered and will deter investment.
Shanghai Chaori Solar Energy Science & Technology Co. said it may not be able to make an 89.8 million yuan ($14.6 million) interest payment in full on March 7, in what would be the first default of an onshore bond.