Covid era driving remote health monitoring: Report

The Covid-19 era is driving people to adapt to more home-based digital modalities of care, including healthcare, social activities, mental health support and fitness, according to a report.

Prior to Covid-19, there was already a movement towards home-based digital support of health and wellness of expanding ageing populations due to decreasing medical resources to support the growth in elderly patients, advancements in machine learning to interpret raw sensor data, and advancement in biometric and environmental sensors.

The new report from the US-based market research firm Strategy Analytics revealed that the Covid era jump-started progress. As a result, traditional modes of healthcare changed, digital solutions were fast-tracked through regulatory processes, and insurances now reimbursed for remote care and virtual visits.

“We know that people want to take control of their health and prioritise health indicators in their wearables. Covid jump-started remote healthcare and people had to take control by becoming more accustomed to digital modalities of care,” the firm’s User eXperience Innovation Practice (UXIP) Director Lisa Cooper said.

“Government agencies also fast-tracked approvals for more consumer wearables as medical devices so the infrastructure is developing to enable the support and promotion of remote monitoring,” she added.

Further, the availability of smartwatches, which pack in health and wellness functionalities, is growing. These smartwatches are also starting to combine sensors that measure multiple biometrics of health, including blood pressure, heart rate, electrical heart ECG, bioelectrical impedance BIA, skeletal muscle mass, basal metabolic rate, body fat, body water, sleeping, snoring, among others.

But the need is to think beyond the wrist and innovate by exploring how to monitor multiple biomarkers with one easy-to-use passive sensor such as a skin patch — something small and unobtrusive, Cooper said.

“Developers need to think big and partner with academia and healthcare institutions to create easy-to-use passive wearables,” UXIP Vice President Kevin Nolan added.

“People want to feel empowered in their own health and partner with healthcare practitioners. In turn, healthcare practitioners have been open to digital solutions but need relevant timely data and not inaccurate sensory output.”

–IANS rvt/khz/vd

( 352 Words)

2021-10-24-17:04:02 (IANS)

Covid era driving remote health monitoring: Report

The Covid-19 era is driving people to adapt to more home-based digital modalities of care, including healthcare, social activities, mental health support and fitness, according to a report.

Prior to Covid-19, there was already a movement towards home-based digital support of health and wellness of expanding ageing populations due to decreasing medical resources to support the growth in elderly patients, advancements in machine learning to interpret raw sensor data, and advancement in biometric and environmental sensors.

The new report from the US-based market research firm Strategy Analytics revealed that the Covid era jump-started progress. As a result, traditional modes of healthcare changed, digital solutions were fast-tracked through regulatory processes, and insurances now reimbursed for remote care and virtual visits.

“We know that people want to take control of their health and prioritise health indicators in their wearables. Covid jump-started remote healthcare and people had to take control by becoming more accustomed to digital modalities of care,” the firm’s User eXperience Innovation Practice (UXIP) Director Lisa Cooper said.

“Government agencies also fast-tracked approvals for more consumer wearables as medical devices so the infrastructure is developing to enable the support and promotion of remote monitoring,” she added.

Further, the availability of smartwatches, which pack in health and wellness functionalities, is growing. These smartwatches are also starting to combine sensors that measure multiple biometrics of health, including blood pressure, heart rate, electrical heart ECG, bioelectrical impedance BIA, skeletal muscle mass, basal metabolic rate, body fat, body water, sleeping, snoring, among others.

But the need is to think beyond the wrist and innovate by exploring how to monitor multiple biomarkers with one easy-to-use passive sensor such as a skin patch — something small and unobtrusive, Cooper said.

“Developers need to think big and partner with academia and healthcare institutions to create easy-to-use passive wearables,” UXIP Vice President Kevin Nolan added.

“People want to feel empowered in their own health and partner with healthcare practitioners. In turn, healthcare practitioners have been open to digital solutions but need relevant timely data and not inaccurate sensory output.”

–IANS rvt/khz/vd

( 352 Words)

2021-10-24-17:04:02 (IANS)

Global supply chain crisis damps outlook for ad spending

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The crunch in global supply chains has clouded the outlook for the advertising industry as companies that are struggling to source products and components rethink plans to spend big on promotional campaigns.

Toy makers, car dealers and furniture suppliers are among the businesses taking a more cautious approach to ad expenditure as disruption to ports and factories drags on, according to industry executives and analysts.

The bottlenecks meant advertisers in “a wide variety of industries and geographies” may “slow their marketing spend, given the diminished need to drive incremental demand”, Jeremi Gorman, chief business officer of social media group Snap, said in an earnings presentation last week.

It is the latest sign that supply logjams are having a ripple effect, beyond the industries immediately dealing with shortages. Ad agencies have bounced back from the depths of the pandemic, when lockdown restrictions prompted clients to slash spending, yet the supply chain problems threaten to stymie the recovery — at least among particular client sectors and certain types of work.

“Performance” advertising — tactical promotions that try to drive sales directly — was more vulnerable to a slowdown than “brand” advertising, or longer-term efforts to build consumer awareness, analysts said.

The fourth quarter was traditionally a particularly important period for performance advertising, said Steven Cahall at Wells Fargo, as retailers and suppliers promote products to deplete inventory in the run-up to Christmas.

“Marketing has been held back,” said James Zahn, senior editor at the Toy Insider industry publication. “You can’t market a toy that you don’t know is actually going to be on the shelves.”

For now, there is little sign that the shipping delays are having a discernible financial impact on the world’s biggest advertising groups. Results released in recent days showed third-quarter revenues rose 7 per cent year-on-year to $3.44bn at Omnicom, 12 per cent to €2.62bn at Publicis and 16 per cent to $2.26bn at Interpublic. WPP is scheduled to report this week.

While the pandemic has distorted the year-on-year comparisons, organic revenues at both Publicis and Interpublic were higher in the most recent quarter than the same period in 2019, according to Citigroup. Omnicom’s remained lower than the pre-pandemic total, however.

For the final three months of the year, Citigroup is forecasting the rate of organic revenue growth to slow at all three companies: from about 111 per cent of 2019 levels in the third quarter to 103 per cent in the fourth at Interpublic, from 105 per cent to 102 per cent at Publicis and 99 per cent to 95 per cent at Omnicom.

Noting “mounting supply chain issues”, Steve King, Publicis’ chief operating officer, said there was potential for performance advertising to “suffer if stocks or goods start to run out or fall low. At the moment, it’s a small risk, but we’re obviously paying very close attention to this”.

John Wren, chair and chief executive of Omnicom, called the impact of supply chain disruption “the great unknown,” adding the issue was tempering optimism among corporate clients about consumer spending and the return of employees to the workplace.

Discussing the fourth quarter on a call with analysts, Philippe Krakowsky, Interpublic’s chief executive, highlighted the spread of the Delta coronavirus variant, not supply chain problems. “The tone of the business is solid, but Delta has definitely created some uncertainty at the macro level,” he said.

Cahall added that the “brand” work that the world’s largest advertising groups do should help shield them if clients cut “performance” budgets.

“Auto is the most notable weak category, and furniture may be as well, but there are other categories that are well above 2019 levels,” he said, citing high demand for ads in sectors including sports betting and legal.

Additional reporting by Andrew Edgecliffe-Johnson in New York

Global supply chain crisis damps outlook for ad spending

Receive free Advertising updates

The crunch in global supply chains has clouded the outlook for the advertising industry as companies that are struggling to source products and components rethink plans to spend big on promotional campaigns.

Toy makers, car dealers and furniture suppliers are among the businesses taking a more cautious approach to ad expenditure as disruption to ports and factories drags on, according to industry executives and analysts.

The bottlenecks meant advertisers in “a wide variety of industries and geographies” may “slow their marketing spend, given the diminished need to drive incremental demand”, Jeremi Gorman, chief business officer of social media group Snap, said in an earnings presentation last week.

It is the latest sign that supply logjams are having a ripple effect, beyond the industries immediately dealing with shortages. Ad agencies have bounced back from the depths of the pandemic, when lockdown restrictions prompted clients to slash spending, yet the supply chain problems threaten to stymie the recovery — at least among particular client sectors and certain types of work.

“Performance” advertising — tactical promotions that try to drive sales directly — was more vulnerable to a slowdown than “brand” advertising, or longer-term efforts to build consumer awareness, analysts said.

The fourth quarter was traditionally a particularly important period for performance advertising, said Steven Cahall at Wells Fargo, as retailers and suppliers promote products to deplete inventory in the run-up to Christmas.

“Marketing has been held back,” said James Zahn, senior editor at the Toy Insider industry publication. “You can’t market a toy that you don’t know is actually going to be on the shelves.”

For now, there is little sign that the shipping delays are having a discernible financial impact on the world’s biggest advertising groups. Results released in recent days showed third-quarter revenues rose 7 per cent year-on-year to $3.44bn at Omnicom, 12 per cent to €2.62bn at Publicis and 16 per cent to $2.26bn at Interpublic. WPP is scheduled to report this week.

While the pandemic has distorted the year-on-year comparisons, organic revenues at both Publicis and Interpublic were higher in the most recent quarter than the same period in 2019, according to Citigroup. Omnicom’s remained lower than the pre-pandemic total, however.

For the final three months of the year, Citigroup is forecasting the rate of organic revenue growth to slow at all three companies: from about 111 per cent of 2019 levels in the third quarter to 103 per cent in the fourth at Interpublic, from 105 per cent to 102 per cent at Publicis and 99 per cent to 95 per cent at Omnicom.

Noting “mounting supply chain issues”, Steve King, Publicis’ chief operating officer, said there was potential for performance advertising to “suffer if stocks or goods start to run out or fall low. At the moment, it’s a small risk, but we’re obviously paying very close attention to this”.

John Wren, chair and chief executive of Omnicom, called the impact of supply chain disruption “the great unknown,” adding the issue was tempering optimism among corporate clients about consumer spending and the return of employees to the workplace.

Discussing the fourth quarter on a call with analysts, Philippe Krakowsky, Interpublic’s chief executive, highlighted the spread of the Delta coronavirus variant, not supply chain problems. “The tone of the business is solid, but Delta has definitely created some uncertainty at the macro level,” he said.

Cahall added that the “brand” work that the world’s largest advertising groups do should help shield them if clients cut “performance” budgets.

“Auto is the most notable weak category, and furniture may be as well, but there are other categories that are well above 2019 levels,” he said, citing high demand for ads in sectors including sports betting and legal.

Additional reporting by Andrew Edgecliffe-Johnson in New York

Global Caprolactam Market Procurement Intelligence Report with COVID-19 Impact Analysis | SpendEdge

NEW YORK, Oct. 24, 2021 /PRNewswire/ — The Caprolactam market will register an incremental spend of about USD 2.94 Billion, growing at a CAGR of 4.48% during the five-year forecast period. A targeted strategic approach to Caprolactam sourcing can unlock several opportunities for buyers. This report also offers market impact and new opportunities created due to the COVID-19 pandemic. Download free sample report

Caprolactam Market Procurement Research Report

Key Highlights Offered in the Report:

  • Information on how to identify strategic and tactical negotiation levels that will help achieve the best prices.

  • Gain information on relevant pricing levels, detailed explanation on pros and cons of prevalent pricing models.

  • Methods to help engage with the right suppliers and discover KPI’s to evaluate incumbent suppliers.

  • Get a free sample report for more information

    Insights into buyer strategies and tactical negotiation levers:

    Several strategic and tactical negotiation levers are explained in the report to help buyers achieve the best prices for the Caprolactam market. The report also aids buyers with relevant Caprolactam pricing levels, pros, and cons of prevalent pricing models such as volume-based pricing, spot pricing, and cost-plus pricing and category management strategies and best practices to fulfil their category objectives.

    For more insights on buyer strategies and tactical negotiation levers, www.spendedge.com/report/caprolactam-sourcing-and-procurement-intelligence-report

    Key Drivers and Trends Fueling Market Growth:

    The pressure from substitutes and a moderate level of threat from new entrants has resulted in the low bargaining power of suppliers.

    Price forecasts are beneficial in purchase planning, especially when supplemented by the constant monitoring of price influencing factors. During the forecast period, the market expects a change of 3.00%-5.00%.

  • Identify favorable opportunities in Caprolactam TCO (total cost of ownership).

  • Expected changes in price forecast and factors driving the current and future price changes.

  • Identify pricing models that offer the most rewarding opportunities.

  • Some of the top Caprolactam suppliers listed in this report:

    Story continues

    This Caprolactam procurement intelligence report has enlisted the top suppliers and their cost structures, SLA terms, best selection criteria, and negotiation strategies.

  • Advansix Inc

  • Aquafil Spa

  • BASF SE

  • To get instant access to over 1000 market-ready procurement intelligence reports without any additional costs or commitment.

    Subscribe Now for Free

    Table of Content

  • Executive Summary

  • Market Insights

  • Category Pricing Insights

  • Cost-saving Opportunities

  • Best Practices

  • Category Ecosystem

  • Category Management Strategy

  • Category Management Enablers

  • Suppliers Selection

  • Suppliers under Coverage

  • US Market Insights

  • Category scope

  • Appendix

  • Get instant access to download 5 reports every month and view 1200 full reports. With every purchase, we also offer complimentary research add-ons and Covid-19 impact assessments – Purchase Now!

    About SpendEdge:

    SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions.

    Contacts

    SpendEdgeAnirban ChoudhuryMarketing ManagerPh No: +1 (872) 206-9340https://www.spendedge.com/contact-us

    SpendEdge Logo (PRNewsfoto/SpendEdge)

    Cision

    View original content to download multimedia:https://www.prnewswire.com/news-releases/global-caprolactam-market-procurement-intelligence-report-with-covid-19-impact-analysis–spendedge-301405012.html

    SOURCE SpendEdge

    Global Caprolactam Market Procurement Intelligence Report with COVID-19 Impact Analysis | SpendEdge

    NEW YORK, Oct. 24, 2021 /PRNewswire/ — The Caprolactam market will register an incremental spend of about USD 2.94 Billion, growing at a CAGR of 4.48% during the five-year forecast period. A targeted strategic approach to Caprolactam sourcing can unlock several opportunities for buyers. This report also offers market impact and new opportunities created due to the COVID-19 pandemic. Download free sample report

    Caprolactam Market Procurement Research Report

    Key Highlights Offered in the Report:

  • Information on how to identify strategic and tactical negotiation levels that will help achieve the best prices.

  • Gain information on relevant pricing levels, detailed explanation on pros and cons of prevalent pricing models.

  • Methods to help engage with the right suppliers and discover KPI’s to evaluate incumbent suppliers.

  • Get a free sample report for more information

    Insights into buyer strategies and tactical negotiation levers:

    Several strategic and tactical negotiation levers are explained in the report to help buyers achieve the best prices for the Caprolactam market. The report also aids buyers with relevant Caprolactam pricing levels, pros, and cons of prevalent pricing models such as volume-based pricing, spot pricing, and cost-plus pricing and category management strategies and best practices to fulfil their category objectives.

    For more insights on buyer strategies and tactical negotiation levers, www.spendedge.com/report/caprolactam-sourcing-and-procurement-intelligence-report

    Key Drivers and Trends Fueling Market Growth:

    The pressure from substitutes and a moderate level of threat from new entrants has resulted in the low bargaining power of suppliers.

    Price forecasts are beneficial in purchase planning, especially when supplemented by the constant monitoring of price influencing factors. During the forecast period, the market expects a change of 3.00%-5.00%.

  • Identify favorable opportunities in Caprolactam TCO (total cost of ownership).

  • Expected changes in price forecast and factors driving the current and future price changes.

  • Identify pricing models that offer the most rewarding opportunities.

  • Some of the top Caprolactam suppliers listed in this report:

    Story continues

    This Caprolactam procurement intelligence report has enlisted the top suppliers and their cost structures, SLA terms, best selection criteria, and negotiation strategies.

  • Advansix Inc

  • Aquafil Spa

  • BASF SE

  • To get instant access to over 1000 market-ready procurement intelligence reports without any additional costs or commitment.

    Subscribe Now for Free

    Table of Content

  • Executive Summary

  • Market Insights

  • Category Pricing Insights

  • Cost-saving Opportunities

  • Best Practices

  • Category Ecosystem

  • Category Management Strategy

  • Category Management Enablers

  • Suppliers Selection

  • Suppliers under Coverage

  • US Market Insights

  • Category scope

  • Appendix

  • Get instant access to download 5 reports every month and view 1200 full reports. With every purchase, we also offer complimentary research add-ons and Covid-19 impact assessments – Purchase Now!

    About SpendEdge:

    SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions.

    Contacts

    SpendEdgeAnirban ChoudhuryMarketing ManagerPh No: +1 (872) 206-9340https://www.spendedge.com/contact-us

    SpendEdge Logo (PRNewsfoto/SpendEdge)

    Cision

    View original content to download multimedia:https://www.prnewswire.com/news-releases/global-caprolactam-market-procurement-intelligence-report-with-covid-19-impact-analysis–spendedge-301405012.html

    SOURCE SpendEdge

    Global Media and Information Literacy Week 2021: History, Significance and Celebrations

    Global Media and Information Literacy Week 2021: History, Significance and Celebrations © Provided by News18 Global Media and Information Literacy Week 2021: History, Significance and Celebrations

    Global Media and Information Literacy (MIL) Week 2021 will mark the 11th annual observance of the event. The entire week (from October 24 to October 31) is dedicated to the Global Media and Information Literacy Week. Ahead of the crucial international event, here’s a quick look at the details related to Global Media and Information Literacy Week:

    Global Media and Information Literacy Week 2021: History The host for 2021 Global Media and Information Literacy Week will be South Africa. UNESCO will co-organize the event. (Representative Image: Shutterstock) © Provided by News18 The host for 2021 Global Media and Information Literacy Week will be South Africa. UNESCO will co-organize the event. (Representative Image: Shutterstock)

    It was in Fez, Morocco, that the first Global Media and Information Literacy Week was held in 2011. The idea of this initiative stemmed from the need of every individual to be equipped with media and information literacy competency so that it can aid proper communication and availability of the right information and mitigate misinformation threats.

    Global Media and Information Literacy Week 2021: Significance and celebrations

    On one hand, though one part of the world has easy access to the internet, there is also another section wherein millions of people are devoid of it.

    There have been instances of misinformation, political polarisation, contradictory messages that spread fear, confusion, and unrest — like the one we had witnessed during the pandemic with the incorrect information being circulated all over.

    Keeping in mind the well-being of the public with the need to empower them with the right information, such an event was conceived. The MIL endeavour is aimed at ensuring and gauging the development achieved towards Media and Information Literacy all around the world.

    The objective is to deftly mitigate the challenges encountered with misinformation, and lack of information. Stakeholders review the progress and formulate plans to achieve the desired outcome. Though the initiative has been put into action since 2011, the infodemic witnessed in the wake of the Covid-19 pandemic makes the significance of such an event all the more relevant.

    The host for 2021 Global Media and Information Literacy Week will be South Africa. UNESCO will co-organize the event.

    The MIL is celebrated through the organization of various relevant activities or events. Using the power of media and technology, awareness about media literacy is raised. Short webinars and discussions/debates within the youth networks are organized to encourage youth to blog about media and information literacy and intercultural dialogue.

    This year’s MIL theme is Media and Information Literacy for the Public Good.

    Read all the Latest News, Breaking News and Coronavirus News here. Follow us on Facebook, Twitter and Telegram.

    Global Media and Information Literacy Week 2021: History, Significance and Celebrations

    Global Media and Information Literacy Week 2021: History, Significance and Celebrations © Provided by News18 Global Media and Information Literacy Week 2021: History, Significance and Celebrations

    Global Media and Information Literacy (MIL) Week 2021 will mark the 11th annual observance of the event. The entire week (from October 24 to October 31) is dedicated to the Global Media and Information Literacy Week. Ahead of the crucial international event, here’s a quick look at the details related to Global Media and Information Literacy Week:

    Global Media and Information Literacy Week 2021: History The host for 2021 Global Media and Information Literacy Week will be South Africa. UNESCO will co-organize the event. (Representative Image: Shutterstock) © Provided by News18 The host for 2021 Global Media and Information Literacy Week will be South Africa. UNESCO will co-organize the event. (Representative Image: Shutterstock)

    It was in Fez, Morocco, that the first Global Media and Information Literacy Week was held in 2011. The idea of this initiative stemmed from the need of every individual to be equipped with media and information literacy competency so that it can aid proper communication and availability of the right information and mitigate misinformation threats.

    Global Media and Information Literacy Week 2021: Significance and celebrations

    On one hand, though one part of the world has easy access to the internet, there is also another section wherein millions of people are devoid of it.

    There have been instances of misinformation, political polarisation, contradictory messages that spread fear, confusion, and unrest — like the one we had witnessed during the pandemic with the incorrect information being circulated all over.

    Keeping in mind the well-being of the public with the need to empower them with the right information, such an event was conceived. The MIL endeavour is aimed at ensuring and gauging the development achieved towards Media and Information Literacy all around the world.

    The objective is to deftly mitigate the challenges encountered with misinformation, and lack of information. Stakeholders review the progress and formulate plans to achieve the desired outcome. Though the initiative has been put into action since 2011, the infodemic witnessed in the wake of the Covid-19 pandemic makes the significance of such an event all the more relevant.

    The host for 2021 Global Media and Information Literacy Week will be South Africa. UNESCO will co-organize the event.

    The MIL is celebrated through the organization of various relevant activities or events. Using the power of media and technology, awareness about media literacy is raised. Short webinars and discussions/debates within the youth networks are organized to encourage youth to blog about media and information literacy and intercultural dialogue.

    This year’s MIL theme is Media and Information Literacy for the Public Good.

    Read all the Latest News, Breaking News and Coronavirus News here. Follow us on Facebook, Twitter and Telegram.

    Global financial crisis warning: More Chinese companies on brink after Evergrande

    Russia and China hold first joint naval mission in Pacific Ocean

    Economists are keeping a worrying eye on China since Evergrande, one of the country’s biggest property developers, have been struggling with more than $300 billion of debts. The company received a 30-day grace period and managed to pay $83.5 million in interest on an offshore dollar bond this week but could be officially in default by the end of October.

    Evergrande have $42.5 million in interest due at the end of the month on top of other deadlines regarding several late payments.

    Now other companies of the same market are following suit with huge sums of debts that could wreak havoc within the Chinese real estate sector.

    China owes around 30% of its economy to its real estate, according to experts.

    “A great many Chinese developers are in more fragile positions than their balance sheets might suggest,” said Craig Botham, chief China economist at Pantheon Macroeconomics.

    Evergrande building China

    Evergrande, one of the country’s biggest property developers, have been struggling with debts. (Image: Getty)

    Evergrande China building

    The company received a 30-day grace period. (Image: Getty)

    Indeed, property developers like Fantasia have assured their investors that they had no liquidity issue.

    But at the same time, they failed to pay a $206 million dollar bond in early October, proving their ongoing crisis.

    Evergrande-related stress has slowed sales in the property sector and driven up borrowing costs, adding pressure on developers like Fantasia, Sinic and China Properties Group.

    The yield on riskier Chinese dollar bonds – which are big sources of funding for developers – soared to 20% earlier this month.

    READ MORE: Putin and Xi Jinping in stark warning to West with joint naval patrol

    China property developers

    ‘A great many Chinese developers are in more fragile positions’ said an expert. (Image: Getty)

    China property developers

    Evergrande-related stress has slowed sales in the property sector. (Image: Getty)

    The real estate crisis could have a bigger impact on the rest of China as predicted by a bank analyst from UBS.

    In a note, they say they expect new property starts to tumble 20% year-on-year in the fourth quarter, “bringing further downward pressure on the economy.”

    Struggling companies have been identified by rating agencies such as Fitch which gave Xinyuan Real Estate a downgrading “CC” score this week.

    Fitch said the mid-sized developer faces a “tight liquidity situation, with weak funding access and large offshore bond maturities in the next twelve months.”

    DON’T MISS: Joe Biden staffers forced ‘clear-up’ after US President over Taiwan [BREAKING] War fears as NASA ask for nuclear rockets to take on China in space [REPORT] China facing fresh Covid outbreak as virus spreading [INSIGHT]

    Xi JinPing key dates

    The real estate crisis could have a bigger impact on the rest of China. (Image: Express)

    Fitch Ratings also downgraded Sinic to “restricted default” on Thursday after the company made $3.91 billion in 2019.

    Two years later, Sinic is not able to pay a bond and interest payment worth £250 million, as reported by Bloomberg.

    S&P Global Ratings also downgraded Greenland, a massive developer with revenues of $61.98 billion in 2019. It got a “B+”, meaning it’s currently able to pay its debts but is vulnerable to a shock.

    “The company’s cash could continue to deplete over the next 12 months due to weaker sales and cash collection,” S&P said.

    Global financial crisis warning: More Chinese companies on brink after Evergrande

    Russia and China hold first joint naval mission in Pacific Ocean

    Economists are keeping a worrying eye on China since Evergrande, one of the country’s biggest property developers, have been struggling with more than $300 billion of debts. The company received a 30-day grace period and managed to pay $83.5 million in interest on an offshore dollar bond this week but could be officially in default by the end of October.

    Evergrande have $42.5 million in interest due at the end of the month on top of other deadlines regarding several late payments.

    Now other companies of the same market are following suit with huge sums of debts that could wreak havoc within the Chinese real estate sector.

    China owes around 30% of its economy to its real estate, according to experts.

    “A great many Chinese developers are in more fragile positions than their balance sheets might suggest,” said Craig Botham, chief China economist at Pantheon Macroeconomics.

    Evergrande building China

    Evergrande, one of the country’s biggest property developers, have been struggling with debts. (Image: Getty)

    Evergrande China building

    The company received a 30-day grace period. (Image: Getty)

    Indeed, property developers like Fantasia have assured their investors that they had no liquidity issue.

    But at the same time, they failed to pay a $206 million dollar bond in early October, proving their ongoing crisis.

    Evergrande-related stress has slowed sales in the property sector and driven up borrowing costs, adding pressure on developers like Fantasia, Sinic and China Properties Group.

    The yield on riskier Chinese dollar bonds – which are big sources of funding for developers – soared to 20% earlier this month.

    READ MORE: Putin and Xi Jinping in stark warning to West with joint naval patrol

    China property developers

    ‘A great many Chinese developers are in more fragile positions’ said an expert. (Image: Getty)

    China property developers

    Evergrande-related stress has slowed sales in the property sector. (Image: Getty)

    The real estate crisis could have a bigger impact on the rest of China as predicted by a bank analyst from UBS.

    In a note, they say they expect new property starts to tumble 20% year-on-year in the fourth quarter, “bringing further downward pressure on the economy.”

    Struggling companies have been identified by rating agencies such as Fitch which gave Xinyuan Real Estate a downgrading “CC” score this week.

    Fitch said the mid-sized developer faces a “tight liquidity situation, with weak funding access and large offshore bond maturities in the next twelve months.”

    DON’T MISS: Joe Biden staffers forced ‘clear-up’ after US President over Taiwan [BREAKING] War fears as NASA ask for nuclear rockets to take on China in space [REPORT] China facing fresh Covid outbreak as virus spreading [INSIGHT]

    Xi JinPing key dates

    The real estate crisis could have a bigger impact on the rest of China. (Image: Express)

    Fitch Ratings also downgraded Sinic to “restricted default” on Thursday after the company made $3.91 billion in 2019.

    Two years later, Sinic is not able to pay a bond and interest payment worth £250 million, as reported by Bloomberg.

    S&P Global Ratings also downgraded Greenland, a massive developer with revenues of $61.98 billion in 2019. It got a “B+”, meaning it’s currently able to pay its debts but is vulnerable to a shock.

    “The company’s cash could continue to deplete over the next 12 months due to weaker sales and cash collection,” S&P said.