embattled develo-er everrande _ embattled developer evergrande and | _ embattled i developer evergrande and the decision by hong kong court to order its liquidation. the ruling followed another failed attempt by the chinese company to redrawjust —— restructuring deal with its creditors. it is unclear if the hong kong court order will be recognised by beijing. evergrande is headquartered in china but the shares of the company are listed on the hong kong stock exchange. hong kong—based debt analystjackson exchange. hong kong—based debt analyst jackson chung told me his assessment of the unfolding crisis. �* ., ., . crisis. after the announcement ofthe crisis. after the announcement of the winding _ crisis. after the announcement of the winding up _ crisis. after the announcement of the winding up order, - crisis. after the announcement of the winding up order, a - of the winding up order, a liquidator has been appointed to arrange the meeting and secure the disposal. the deck with —— liquidator will try to squeeze the maximum value out of the evergrande assets and it will come the key to determine the value of the bond.- the value of the bond. what is happening _ the value of the bond. what is happening to _ the value of the bond. what is happening to property - the value of the bond. what is happening to property buyersl happening to property buyers who have already put down deposits on potential flats? who have already put down deposits on potentialflats? do you think they will be able to get their money back? i

you think they will be able to get their money back? i think that for the _ get their money back? i think that for the maiden _ get their money back? i think that for the maiden -- - get their money back? i think. that for the maiden -- majored that for the maiden —— majored that for the maiden —— majored that holder, the bond order should be, to be honest, we expect this bond order can still only recover approximately 2% or 3% of the liquidation scenario and currently the bond issued by grand, —— by a currently the bond issued by grand, —— bya grant, trading at2 cents of grand, —— bya grant, trading at 2 cents of the dollar. at this point we believe the most valuable assets owned by ever grand are still in offshore assets which include the share of the publicly serviced and other electric vehicle divisions. meanwhile we think it is virtually impossible to recover anything from onshore assets. ~ ., ., recover anything from onshore assets. ~ . ., , assets. what are the broader implications _ assets. what are the broader implications for _ assets. what are the broader implications for the - assets. what are the broader implications for the industry l implications for the industry from ever grand's liquidation? actually, ever grand is the first developer, first large

developer that has been ordered to liquidate. if you look at the previous, we also saw that the previous, we also saw that the government between hong kong and mainland china has unusual recognition for proceedings. so in theory, liquidators from hong kong should be able to apply for recognition of the hong kong order. so our concern is that if the ever grand liquidation order is recognised in mainland, can the hong kong liquidator can really penetrate into the onshore market and the onshore assets so we think it may not be an easy task, it is probably too late at this time compared to all the other developers. d0 compared to all the other developers.— compared to all the other develoers. , ., developers. do you see other developers — developers. do you see other developers also _ developers. do you see other developers also falling - developers. do you see other developers also falling foul. developers. do you see otherj developers also falling foul of the similar situation evergrande is in? the similar situation ever: rande is in? , ., evergrande is in? yes, quite a lot. evergrande _ evergrande is in? yes, quite a lot. evergrande situation - evergrande is in? yes, quite a lot. evergrande situation is i evergrande is in? yes, quite a lot. evergrande situation is al lot. evergrande situation is a little bit different because

actually, china, mainland china government is very focused on ever grand and didn't say it has an opinion in ever grand and is watching it more closely than the other developers and the china's —— chinese operators most of the top management of ever grand, so we are... such a terrible relationship between the company and government. focusing next on how growing geopolitical tensions are driving up arms sales. us weapons exports $81 billion last year. 56% increase from 2022, according to the us state department. with more, here the bbc�*s business correspondent michelle fleury. bbc's business correspondent michelle fleury.— michelle fleury. american defence companies - michelle fleury. american defence companies 2023 l michelle fleury. american i defence companies 2023 was michelle fleury. american - defence companies 2023 was a record year for sales with exports are more than 50%. {line exports are more than 50%. one tree of deals — exports are more than 50%. one tree of deals was _ exports are more than 50%. one tree of deals was worth about $30 billion for attack and transport helicopters and rocket systems to poland and germany, according to state department figures. it comes as

the war in ukraine rages on with fears about moscow's potential to target other countries lifting sales. the biden administration is also trying to seize the moment in europe and asia to get buyers to move away from russian arms imports and to spend more on american defence manufacturing. us is already the world's biggest weapons exporter but american policymakers hope to permanently relegate russia to second tier status when it comes to the arms trade. ukrainian president volodymyr zelensky has published his income for the first time. according to the presidential website, zelensky�*s family income for more than 65% in 2022, the year russia launched its full—scale invasion of ukraine. this was due to the temporary termination of lease agreements. ukrainian president has been urging public officials to disclose their income as part evidence to promote transparency. —— their efforts. promotion could be a sticking point in the country's bid tojoin sticking point in the country's bid to join the sticking point in the country's bid tojoin the european union. beyond ukraine, there is also

turmoil in the red sea, continued and escalated attacks on shipping vessels along the strategic waterways have led to many delivery disruptions. the vital shortcut for maritime traffic has been replaced by longer voyages around the cape of good hope. that has also led to rising costs. earlier i spoke to larsjensen, a shipping consultant. he told me it has not been put —— the shipping cost has not been passed on to consumers. you'll make it is unlikely to have a major impact. usually the headline grabbing numbers of freight rates going up but in reality if you add it all up, this amounts to less than 0.3% of the value of the goods that have been imported into europe. this seems quite counterintuitive, having taken counterintuitive, having ta ken a counterintuitive, having taken a longer route and the cost is not being passed on to consumers. help us understand that. . .,, consumers. help us understand that. . , consumers. help us understand that. , , consumers. help us understand that. ,, that. the cost is being passed on but the _ that. the cost is being passed on but the effect _ that. the cost is being passed on but the effect is _ that. the cost is being passed on but the effect is so - on but the effect is so negligible you won't really notice it. what this sympathise quite well is just how small a portion of the freight cost is of the total cost of good producing and then also selling the goods. producing and then also selling the geode—

the goods. this thursday the world's most _ the goods. this thursday the world's most populous - the goods. this thursday the | world's most populous nation will outlined its spending plan for the year. with india said to vote for a new government in a few months, prime minister narendra modi's government will only present an interim budget. a lot of focus will be on steps announced to help the manufacturing sector that makes up manufacturing sector that makes up 70% of india's economy. my colleague arun iddeh mukherjee sent this report. india has big ambitions of becoming the next manufacturing powerhouse. and indian company set up his gleaming factory less than one year ago in the north—western city of dudu. after winning a government graft —— grant of nearly $70 million. here, nearly $70 million. here, nearly 3000 solar panels are made every day as india looks to pivot away from reliance on china which are still supplies 80% of all raw materials in the sector. , , ., sector. definitely on the line from today _ sector. definitely on the line from today when _ sector. definitely on the line from today when the - sector. definitely on the line | from today when the support stops, i believe we will be self—sufficient and able to

grow at its own. self-sufficient and able to grow at its own. production aned grow at its own. production linked incentives... - grow at its own. production linked incentives... the - linked incentives... the incentive _ linked incentives... the incentive was _ linked incentives... the | incentive was announced linked incentives... tia: incentive was announced in 2021. it is a five year plan aimed at powering jobs and encouraging local companies to establish production lines at home. 0vera establish production lines at home. over a dozen sectors were identified in the government saysin identified in the government says in the last two years, the scheme has created over 600,000 jobs, but this comes at a time when unemployment among graduates has hit an all—time high, at over 13% last year. and here in the cityjust over 60 kilometres away from the manufacturing unit, young india, fresh out of college, is doing everything it can to try and secure a job. a desperation to find work —— people are hoping to find the best advice to land hoping to find the best advice to [and jobs. in this back classroom, many of them come from rural india. spending

their parents' life savings on expensive tutorials in the hope that they stand a better chance than the person next to them. translation: the competition has increased so much. there aren't enough jobs for us. translation: people don't have any options. if they were more options. — any options. if they were more options. it— any options. if they were more options, it would not have been a problem _ options, it would not have been a problem. but options, it would not have been a problem-— a problem. but incentives can onl do a problem. but incentives can only do so _ a problem. but incentives can only do so much, _ a problem. but incentives can only do so much, say - a problem. but incentives can| only do so much, say experts. 0nly only do so much, say experts. only 2% of the $25 billion promised has been doled out so far and that, too, should have been spent differently, they say. been spent differently, they sa . ~ been spent differently, they sa. ~ ., been spent differently, they sa. , say. 696 of the workforce, working — say. 696 of the workforce, working in _ say. 696 of the workforce, working in organised - say. 696 of the workforce, i working in organised sector say. 696 of the workforce, - working in organised sector and 90% in the unorganised sector so what we need to do is boost the unorganised sector rather than the organised sector and what the scheme is doing is entirely targeted to the organised sector.- entirely targeted to the organised sector. india has been identified _ organised sector. india has been identified as - organised sector. india has been identified as a - organised sector. india has been identified as a brightl been identified as a bright spot among other world economies but will the growth be felt by all indians? in an

election year, the upcoming budget, mayjust be driven more by politics than economics. in other news, elon musk says a human has received a brain implant from its start—up neuro link for the first time and is recovering well. the multibillionaire said on a post on social media that it is initially promising. the firm was allowed to conduct its first human trial last year. the goal is to connect human brains to computers and it will allow a human to control a cursor and type using thoughts alone. and let's look at how the markets are and we will start with hong kong and the hang seng index is down almost 2% in stocks opened sharply lower as investors turn their focus to the previous day's liquidation order of australia �*s property giant ever grand and its possible impact on the country's economy. there was,

however, a very different picture to how we saw earlier on wall street. us stocks rose with both the dow and s&p 500 ending at record highs to kick off a heavy newsweek. it includes tech earnings and of course a federal reserve interest rate decision. investors are looking at keeping interest rates unchanged and i will be covering all of that here on major business report. —— asia business report. bbc news, bringing you different stories from across the uk. ., . ., ., the uk. reunited once again. theodore _ the uk. reunited once again. theodore and _ the uk. reunited once again. theodore and his _ the uk. reunited once again. theodore and his dad - the uk. reunited once again. | theodore and his dad meeting the uk. reunited once again. . theodore and his dad meeting in lviv in the summer theodore's school friends did a camping out fundraiser to paper his trips back to ukraine. —— pay for his trips. trips back to ukraine. -- pay for his trips.— trips back to ukraine. -- pay for his trips. eventually means older world — for his trips. eventually means older world to _ for his trips. eventually means older world to us. _

for his trips. eventually means older world to us. children - for his trips. eventually means older world to us. children of. older world to us. children of that age thinking of the future, thinking what is happening in the world. what was the best _ happening in the world. what was the best bit _ happening in the world. what was the best bit about - happening in the world. what was the best bit about it? - was the best bit about it? inking a lot of my family and i slept with my dad all the time. it was a boy �*s room of that time during our stay because, yes, they both snore! trio time during our stay because, yes, they both snore! the t yes, they both snore! no i don't! yes _ yes, they both snore! no i don't! yes they _ yes, they both snore! no i don't! yes they do. - yes, they both snore! no i don't! yes they do. no - yes, they both snore! no i don't! yes they do. no i i yes, they both snore! no i - don't! yes they do. no i don't! cycling the distance between manchester and the middle east to reins —— raise funds for children affected by the situation in gaza. it children affected by the situation in gaza.- children affected by the situation in gaza. it felt as if it is unfair _ situation in gaza. it felt as if it is unfair so _ situation in gaza. it felt as if it is unfair so we - situation in gaza. it felt as if it is unfair so we need i situation in gaza. it felt as| if it is unfair so we need to do another thing for all the people as well.— people as well. they have currently _ people as well. they have currently travelled - people as well. they have currently travelled more | people as well. they have . currently travelled more than 500 miles. we started there and we have to get all the way over to palestine.

there for more stories across the uk, head to the bbc news website. tonight, a ban on disposable vapes and a monkey on the lease in scotland. first up, the covenant has announced plans to ban disposable vapes saying they hope it will stop people from vaping at a young age stop new figures show more than 7% of 11-17 new figures show more than 7% of 11—17 —year—olds regularly or occasionally vapes. some even ask other shops to buy vapes for them. {30 even ask other shops to buy vapes for them.— even ask other shops to buy vapes for them. go in there for me going _ vapes for them. go in there for me going get _ vapes for them. go in there for me going get this _ vapes for them. go in there for me going get this for _ vapes for them. go in there for me going get this for me. - vapes for them. go in there for me going get this for me. is i me going get this for me. is the money going to get this and i the money going to get this and i don't _ the money going to get this and i don't want to get banned. there — i don't want to get banned. there will no —— there is no official date yet but the government says fruity flavours and bright packaging will be also banned to make it look less appealing to kids. shops will have six months to take them off their shelves. next up, tensions are growing in the middle east after three

american troops were killed in jordan in a drone strike on an american base known as tower 22 are shown here on this map. a militant group backed by iran has claimed response ability and presidentjoe biden said they will be consequences. the militant groups backed by iran have launched strikes around a times since october seven when the us studied increasing its military presence in the middle east in response to the attack on israel by hamas, designated here as a terror organisation. that attack killed 1300 people and meanwhile, according to local officials, israel's offensive in gaza is called 26,000 people. here is ten seconds of an escaped monkey. the animal managed to get out of its enclosure to wildlife park in northern scotland and it was later seen hanging out in people's back gardens nearby. its keeper says it was trying to avoid a fight with another monkey. that is it from me. you are all caught up.

hello and welcome to sportsday. i'm gavin ramjaun. the holders are out of afcon as hosts ivory coast take it all the way to penalties to knock out senegal. there's stoppage time drama in qatar — we'll have all the latest from the asian cup. a four—year ban for russian figure skater kamila valieva as a court rules her doping violation should stand. and disappointment for

andy murray — another early exit for the former british number one, this time in france. hello there and welcome along to the programme. and we start with drama from the africa cup of nations where the holders senegal have been sent packing by the hosts ivory coast, who won after the match went all the way to penalties. senegal, who'd won all their matches so far, and looked imperious in the groups, took the lead thanks to habib diallo's early strike. it looked as though their winning streak would go on, until a frank kessie penalty levelled matters with less than five minutes to go. nothing to separate the teams after extra time — so penalties settled it. moussa niakhate's missed spot kick proved the difference as ivory coast, to the delight of the home fans, reached the quarterfinals by

the finest of margins.