{"id":558009,"date":"2021-09-19T14:19:10","date_gmt":"2021-09-19T14:19:10","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/19\/welcome-home-space-tourists\/"},"modified":"2021-09-19T14:19:10","modified_gmt":"2021-09-19T14:19:10","slug":"welcome-home-space-tourists","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/19\/welcome-home-space-tourists\/","title":{"rendered":"Welcome home, space tourists."},"content":{"rendered":"

<\/a> Investors are expecting indebted giant Evergrande to default on its interest <\/strong>payments this Thursday<\/strong>, with one of the two notes on which interest is due trading at less than 30% of its face value, Bloomberg<\/a> reports. Fears of China\u2019s Evergrande contagion have continued to ripple across China\u2019s real estate sector, with shares in China\u2019s biggest insurer Ping An Insurance falling Friday<\/a> over concerns of its exposure to the flailing firm. Evergrande, China\u2019s second-largest property developer is said to be sitting on more than USD 300 bn in debt<\/a> \u2014 with USD 7.4 bn in bonds due next year, making it quite possibly the world\u2019s most indebted company. It seems on track to give bondholders a 75% haircut, has about 1.5 mn unfinished properties, and it\u2019s share price in Hong Kong is down about 85% in the past year.<\/p>\n

The UAE is aiming to invest EUR 10 bn in the UK\u2019s clean energy, technology and <\/strong>infrastructure <\/strong>as part of a multi-bn-GBP agreement signed last Thursday with the UK government, according to the UAE\u2019s WAM agency<\/a>. The agreement doubles the amount originally announced as part of the two nations\u2019 five-year sovereign investment partnership, with the CEO of sovereign wealth fund Mubadala, Khaldoon Al Mubarak telling the Financial Times<\/a> that he expected UAE investments in the UK to comfortably reach GBP 2 bn by the end of the year.<\/p>\n

\n

Faceboo<\/strong>k gets the full expos\u00e9 treatment over at the WSJ: <\/strong>the Wall Street Journal published a string of big headlines over the course of last week under the header \u201cthe Facebook Files,\u201d<\/a> alleging bad practice at the social media conglomerate on the basis of internal company documents. The main takeaway: \u201cFacebook Inc. knows, in acute detail, that its platforms are riddled with flaws that cause harm.\u201d<\/p>\n

What are the claims?<\/strong> The wide-ranging investigation includes claims that a secret elite of VIPs is exempt from Facebook\u2019s rules of conduct; that Facebook knows that Instagram is toxic for teenage girls; that attempts to make Facebook\u2019s main platform less angry and to promote vaccination in fact had the opposite effect; and that top management ignored warnings from employees about abuse of the platform in developing countries by human traffickers, drug cartels, and government actors. Knowledge of these problems went all the way to the organization\u2019s top brass, which did little to solve them, according to the WSJ.<\/p>\n

Facebook <\/strong>yesterday rebuffed<\/a><\/strong> the allegations<\/strong>, claiming that the the issues raised by the WSJ were complex ones that defied easy solutions, and that the paper had quoted internal documents out of context. \u201cI wish there were easy answers to these issues, and that choices we might make wouldn\u2019t come with difficult trade-offs,\u201d said the company\u2019s head of global affairs, Nick Clegg. \u201cThat is not the world we live in.\u201d<\/p>\n

\n

Elon Musk sees Bezos\u2019 astronauts and raises them civilians:<\/strong> Four civilian passengers launched into a three-day orbit around earth by Elon Musk\u2019s SpaceX returned safely<\/a> on Saturday evening. The trip, known as mission Inspiration4<\/a>, marked the first time a crew of private (non-government) astronauts has gone into orbit on a company spaceship. Among them were the youngest woman<\/a> to travel to space and the first Black woman to serve as a spaceship pilot. The crew orbited earth at some 17k miles per hour in SpaceX\u2019s Crew Dragon capsule \u2014 which has been tapped to one day take NASA astronauts to the International Space Station.<\/p>\n

Even Bezos had to tip his hat: <\/strong>Jeff Bezos, whose short space trip in July consisted<\/a> of trained government astronauts, sent SpaceX a congratulatory tweet<\/a> recognizing the company\u2019s feat. This follows a back and forth between the space rivals, which saw Bezos file lawsuits against SpaceX\u2019s government contracts. This escalated to a twitter war, which we have to say Elon is clearly winning<\/a>.<\/p>\n

<\/a> The world\u2019s 25 wealthiest families have seen a 22% y-o-y increase in their net value, with <\/strong>gains of USD 312 bn in the last year.<\/strong> The families are now collectively worth USD 1.7 tn, according to data from Bloomberg<\/a>. This comes off the back of \u201cabundant liquidity, soaring stock markets and accommodating tax policies,\u201d the newswire writes.<\/p>\n

Topping the list: <\/strong>the Waltons (majority owners of Walmart), who saw their net worth grow USD 23 bn in the last 12 months, to reach USD 238.2 bn. The controlling shareholders of high-end fashion brand Hermes were also major beneficiaries, with their fortune surging 75% to USD 111.6 bn.<\/p>\n

\n

AND YOUR MANDATORY COVID (HORROR) STORY- Will bats bring on the next <\/strong>coronavirus? <\/strong>Bats in Laos were found to host three viruses that are \u201cthe closest ancestors of SARS-CoV-2 known to date,\u201d head of a French research team studying the viruses told Bloomberg<\/a>. The findings suggest that these viruses may have contributed to the evolution of covid-19, and suggest a future risk of direct animal to human transmission of other coronaviruses.<\/p>\n","protected":false},"excerpt":{"rendered":"

Investors are expecting indebted giant Evergrande to default on its interest payments this Thursday, with one of the two notes on which interest is due trading at less than 30% of its face value, Bloomberg reports. Fears of China\u2019s Evergrande contagion have continued to ripple across China\u2019s real estate sector, with shares in China\u2019s biggest […]<\/p>\n","protected":false},"author":1,"featured_media":558010,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7215],"tags":[116,633,216,647,638,150,671,90,112],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-558009","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-for-your-commute","tag-china","tag-enterprisepm","tag-evergrande","tag-facebook","tag-for-your-commute","tag-renewable-energy","tag-space","tag-uae","tag-uk","wpautop","entry"],"acf":{"mongo_id":"95f81c5d-8892-48fe-9bfb-64c4d4e1a4a5","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/9\/534.jpg","photo_position":"above","related_issue":[558005],"teaser":"","voice_url":""},"yoast_head":"\nWelcome home, space tourists. - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/19\/welcome-home-space-tourists\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Welcome home, space tourists.\" \/>\n<meta property=\"og:description\" content=\"Investors are expecting indebted giant Evergrande to default on its interest payments this Thursday, with one of the two notes on which interest is due trading at less than 30% of its face value, Bloomberg reports. 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That\u2019s the question smart observers are asking amid news that Evergrande, China\u2019s second-largest property developer, could be on the verge of defaulting on its massive debt obligations. Formally known as China Evergrande, the\u2026","rel":"","context":"In "FOR YOUR COMMUTE"","block_context":{"text":"FOR YOUR COMMUTE","link":"https:\/\/enterpriseam.com\/egypt\/category\/for-your-commute\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/515.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548042,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/24\/bri-blowback\/","url_meta":{"origin":558009,"position":2},"title":"BRI blowback","author":"enterpriseam admin","date":"24 July 2022","format":false,"excerpt":"China\u2019s Belt and Road Initiative could be in trouble as debt crises loom in emerging markets: The ambitious overseas lending scheme that sees China pouring investments into countries across Africa, Asia, and the Middle East, to further trade and foreign policy is struggling under a mountain of non-performing debt and\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":557509,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/21\/evergrande-crisis-triggers-global-stock-sell-off-ahead-of-fed-meeting\/","url_meta":{"origin":558009,"position":3},"title":"Evergrande crisis triggers global stock sell-off ahead of Fed meeting","author":"enterpriseam admin","date":"21 September 2021","format":false,"excerpt":"China\u2019s brewing Evergrande crisis is being blamed for a global equity sell-off: Stocks fell in Asia, Europe and the US yesterday amid fears that Chinese property giant Evergrande could default on the more than USD 300 bn it owes to creditors and other firms.US stocks suffered their worst day in\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/296.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":557686,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/28\/em-bonds-see-heavy-outflows-over-evergrande-fed-taper\/","url_meta":{"origin":558009,"position":4},"title":"EM bonds see heavy outflows over Evergrande, Fed taper","author":"enterpriseam admin","date":"28 September 2021","format":false,"excerpt":"EM bonds see heavy outflows over Evergrande, Fed taper: Investors made a hasty exit from exchange-traded emerging-market bond funds last week, as China\u2019s wobble over the Evergrande crisis and expectations for a Fed taper later this year led investors to withdraw from riskier debt. Investors withdrew almost USD 83 bn\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":557653,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/27\/the-evergrande-crisis-is-on-pause-but-china-is-still-posing-a-headache-for-emerging-markets\/","url_meta":{"origin":558009,"position":5},"title":"The Evergrande crisis is on pause, but China is still posing a headache for emerging markets","author":"enterpriseam admin","date":"27 September 2021","format":false,"excerpt":"China is worrying emerging markets: As fears of an abrupt Fed taper fade, Bloomberg suggests that a slowdown in China\u2019s economy may pose the next big problem for emerging markets. Manufacturing indices due Thursday are expected to confirm a China-wide slowdown that goes well beyond the Evergrande saga, after the\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/558009","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=558009"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/558009\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/558005"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/558010"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=558009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=558009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=558009"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=558009"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=558009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}