Standard Chartered and Chong Hing Bank are not accepting mortgage requests from potential homebuyers at the Le Mont residential project in Tai Po, according to property agents. While Standard Chartered declined to comment, Chong Hing Bank stated that they evaluate mortgage loan applications based on the property’s value, quality, and the applicant’s repayment ability. This decision by the banks is a setback for China Vanke, the developer of the project, as they face significant debt maturities this year and are expected to post a record net loss for 2024 amidst a prolonged property downturn in China.
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Trump talks up Tesla in White House show of support for Musk
President Trump expressed support for labeling protesters as domestic terrorists and praised Elon Musk for doubling Tesla's vehicle output in the US within two years. Musk announced plans to produce self-driving "cyber-cab" vehicles in Texas next year. Trump declared on Truth Social that he would buy a Tesla to show support for Musk, calling him a "truly great American," despite Musk's unpopularity among ordinary Americans. Full Article
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