Property worth millions of naira razed in Yenagoa

Wrestling: Champion Of Champions tournament begins in Yenagoa

The US will support a proposal to waive IP protections for coronavirus vaccines, Washington's top trade official said. More than 100 countries want the temporary suspension of patents on COVID-19 vaccines.

Bayelsa state governor, Douye Diri, has banned erecting illegal market structures and street trading in Yenagoa, the state capital.

Cardinal Angelo Becciu is one of ten individuals facing charges such as extortion, abuse of office and fraud. The indictment relates to a €350 million investment in a London real estate venture.

China Evergrande, once the country's second-largest real estate developer, is drowning in debt. Some 1.5 million people have put deposits on new homes that have yet to be built. A collapse could be catastrophic.

On the face of it, Chinese property developers' debts appear big enough to crash the national economy. But several factors could limit the real estate downturn and the threat of global financial contagion.

Since September, the name Evergrande has caused panic on stock exchanges around the world. Paralysed by $300 billion in debt (€260 billion), or the equivalent of 2 percent of Chinese GDP, the country's second-largest real estate developer is now threatening Chinese growth. Evergrande has more than 1,300 construction projects across China, as well as financial products, electric cars, livestock, bottled water and even a football club.

The Chinese property giant Evergrande has missed a key debt deadline and is inching closer to a possible restructuring. Financial Analyst Danni Hewson explains why the meltdown isn't sparking turmoil on global stock markets. Also in the show: the Carbon Disclosure Project releases its 2021 ranking of sustainable business practices.

Shares in the Chinese property company Kaisa have been suspended from trading in Hong Kong, as fears mount that the firm may be unable to make a $400 million debt payment due on Thursday. Kaisa is a much smaller player than the troubled giant Evergrande, but also has high levels of foreign debt. Also today, we look at how the United Arab Emirates has changed its working week to Monday-Friday to align with other international business hubs.

China is bracing itself for the possibility property group Evergrande could default on its huge $300 billion debt pile. Many of Evergrande's creditors are ordinary Chinese who may lose much of their life savings.

The law would have allowed for the Serb-majority Republika Srpska to take over property owned by the central government. Serb leader Milorad Dodik said he does not accept the decision.

Find these stories and much more when you grab a copy of The Guardian on Friday.