Sweden has awarded green steel startup Stegra USD 41 million to help complete its hydrogen-powered steel plant in northern Sweden. The funding is intended to improve the company's chances of raising the additional USD 1.1 billion needed. Stegra had previously secured USD 7.5 billion in loans and equity. The Energy Agency emphasized that the new support is conditional on demonstrating sufficient capital by spring 2026. Government backing is expected to boost investor confidence, while the country's green transition continues to face challenges from industrial setbacks like Northvolt's bankruptcy.Read more

Vietnam's weekly government bond auction raised USD 229 million, lower than last week's USD 350 million, with only 43% of bonds sold. The total government bond sales in 2025 have reached 293 trillion dong, falling short of the 500 trillion dong target. The treasury successfully sold 10-year bonds at a 3.86% coupon but could not sell 5-, 15-, and 30-year bonds. Meanwhile, corporate bond issuances have reached 506 trillion dong, with a significant portion of upcoming maturities in the real estate and banking sectors.Read more

Vukile Property Fund reported strong interim results, with headline earnings per share at 85.24 cents and gross property revenue rising 36.9% to R2,903 million. The interim dividend of 60.2 cents per share represents 9% growth. For FY26, the company expects at least a 9% increase in both FFO per share and dividend per share, bringing the full-year dividend to a minimum of 143.6 cents. The firm's portfolio now exceeds R50 billion, supported by international investments in Spain and Portugal, reflecting a steady growth trajectory and diversified revenue streams.Read more

Aroundtown reported a nine-month profit of 882.3 million euros (USD 1.0 billion), recovering from a loss of 154 million euros in the same period last year. The gain was largely supported by 383.7 million euros in property revaluations and capital gains, reversing last year's loss of 591 million euros. Funds from operations fell slightly to 221 million euros from 235.6 million euros, reflecting ongoing stabilization in rental income. The company maintained its full-year guidance and highlighted cost-saving measures, signaling continued recovery and careful management in a recovering property market.Read more

China Vanke's bonds extended losses this week after the developer requested bondholder approval to delay repayment of a 2 billion yuan (USD 282.6 million) onshore bond due in mid-December, marking its first such request. Several yuan bonds fell over 20%, some close to 40%, prompting trading suspensions in six exchange-traded bonds. Offshore dollar bonds also declined sharply. The move has heightened concerns about Beijing's support for the sector. With 364.3 billion yuan in debt, potential restructuring could be more significant than defaults by Evergrande or Country Garden.Read more

Xinyuan Property Management Service (Cayman) Ltd announced that select Xinyuan real estate companies will transfer target properties to a unit for RMB 89.1 million. The transfer aims to consolidate property management and enhance operational efficiency. This aligns with Xinyuan's ongoing strategy of optimizing its asset structure, centralizing operations, and improving liquidity. Such transfers reflect broader trends in China's real estate market, where firms restructure assets to maintain financial stability. Xinyuan's past asset transfers have supported strategic development and efficient capital use.Read more

SM Prime Holdings is investing 3.6 billion pesos to expand and modernize SMX Seaside Cebu, a prominent convention facility in the Visayas. The funding will upgrade exhibition halls, meeting spaces, and infrastructure to support larger events and international conventions. The expansion reinforces SM Prime's strategy to strengthen its presence in regional hubs and meet growing demand for premium event spaces. Past events have positioned Cebu as a key MICE destination, and this development aims to attract more business travelers while supporting local tourism growth.Read more

UMH Properties has added seven manufactured-home communities, totaling 1,765 sites, to its Fannie Mae credit facility through Wells Fargo Bank, raising approximately USD 91.8 million via a fixed rate, interest only loan at 5.46% for nine years. A certified appraisal valued these communities at USD 145.1 million, nearly double UMH's original investment of USD 73.2 million. The funds will be used to acquire new properties, expand rental homes, and repay higher interest short term debt. This move strengthens UMH's liquidity, supports ongoing growth, and continues its strategy of leveraging asset value to fund expansion.Read more

The UK government has approved Heathrow Airport's 49 billion pound (USD 64 billion) expansion plan, prioritizing it over Arora Group's smaller proposal. The plan, including a new runway, motorway rerouting, and terminal construction, is expected to be operational by 2035, with planning consent by 2029. Recent government support for other UK airport projects demonstrates a continued focus on aviation growth. Heathrow's owners welcomed the decision but seek regulatory clarity, while airlines express concerns about potential higher charges to fund expansion. The project also faces scrutiny regarding environmental and air quality regulations.Read more

China has pledged renewed investment in Tonga during talks between President Xi Jinping and King Tupou VI, highlighting the island nation's strategic importance in the Asia-Pacific region. Tonga remains heavily indebted to China's EXIM Bank, with loan repayments making up nearly half of its external debt. The two leaders discussed enhancing cooperation across trade, infrastructure, agriculture, fisheries, tourism, and climate resilience. Tonga continues to receive development aid from Australia and the United States. A framework agreement was signed to further economic collaboration and expand trade between China and Tonga.Read more