evergrande is headquartered in china but the shares of the company are listed on the hong kong stock exchange. hong kong—based debt analyst jackson chan gave me his assessment of the unfolding crisis. after the announcement of the winding up order, the court has appointed alvarez and marsal as the liquidator to arrange the crisis meeting and secure the assets. 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. what is happening to property buyers who have already put down deposits on potential flats?

do you think they will be able to get their money back? i think that for the major debt holder, the bond order should be, to be honest, we expect this bond order can still only recover approximately 2% or 3% under liquidation scenario and currently the bond issued by evergrande is only trading at 2 cents of the dollar. at this point we believe the most valuable assets owned by evergrande 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 its onshore assets. what are the broader implications for the industry from evergrande�*s liquidation? actually, evergrande is the first developer, first large developer that has been ordered to liquidate.

if you look at the previous example, we also saw that the government between hong kong and mainland china china has unusual recognition for insolvency proceedings. so in theory, liquidators from hong kong should be able to apply for to the court for recognition of the hong kong order. so our concern is that if the evergrande liquidation order is recognised in mainland, can the hong kong liquidator can really penetrate into the onshore market and take care of all 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. do you see other developers also falling foul of the similar situation evergrande is in? yes, quite a lot. we saw a lot of falling out. evergrande situation is a little bit different because actually,

china, mainland china government is very focused on evergrande and didn't say it has an opinion in ever grand and is watching it more closely than the other developers. chinese operators most of the top management of evergrande group, so we are such a terrible management of evergrande group, so we are worried. such a terrible relationsh between the company and government. focusing next on how growing geopolitical tensions are driving up arms sales. us weapons exports $81 billion last year. that's a 56% increase from 2022, according to the us state department. with more, here the bbc�*s north america business correspondent michelle fleury. for american defence companies 2023 was a record year for sales with 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. the 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 fell by 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. the ukrainian president has been urging public officials to disclose their income as part evidence to promote transparency. corruption could be a sticking point in the country's bid tojoin the european union.

beyond ukraine, there's also turmoil in the red sea, continued and escalating attacks on shipping vessels along the strategic waterway 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's also led to rising costs. earlier i spoke to larsjensen, a shipping consultant. he told me the spike in costs 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 a longer route and the costs is not being passed on to consumers. help us understand that better. the cost is being passed on but the effect is so neglectable 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. this thursday the world's most populous nation will outline its spending plan for the year. but 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 then will be on steps announced to help the manufacturing sector that makes up 17% of india's economy. my colleague sent this report. india has big ambitions of becoming the next manufacturing powerhouse. an indian company set up his gleaming factory less than one year ago in the north—western city of dudu. after winning a government grant of 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.

support —— definitely on the line from today when the financial support stops, i believe we will be self—sufficient and able to grow at its own. production linked incentives... the incentive was announced in 2021. it's a five year plan aimed at powering jobs and encouraging local companies to establish production lines at home. over a dozen sectors were identified and the government says in the last two years, the scheme has created over 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 indians, fresh out of college, are doing everything it can to try and secure a job. a desperation to find work is visible — people hoping

to find the best advice to land jobs. in this packed 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: peoplel don't have any options. if they were more options, it would not have been a problem. but incentives can 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. 6% of the workforce, working in organised sector and 94% 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.

india has been identified as a bright spot among major 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. the vietnamese electric vehicle maker has plans to open a network of electric car and dealerships in the philippines are starting this year. the movies the next strategic step in an expansion to —— expansion plan targeting at least 50 countries this year with southeast asia designated as a key region. that is according to an announcement following a visit by the philippine's president to vietnam. —— philippines president. looking at the markets. 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

—— evergrand and —— ever grand and its possible impact on the country's economy. impact on the country's economy-— impact on the country's econom . ., ,, economy. -- evergrande. us stocks rose _ economy. -- evergrande. us stocks rose with _ economy. -- evergrande. us stocks rose with both - economy. -- evergrande. us stocks rose with both the - economy. -- evergrande. us| stocks rose with both the dow and s&p 500 ending at record highs to giggle the heavy newsweek that includes technology earnings and a federal reserve interest rate decision which will be bringing you more tomorrow. bye for now. vmcsovsk: bbc news, - bringing you different stories from across 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 pay for his trips back to ukraine. actually it means

all the world to us. it is amazing when children of that age are thinking of the future, thinking of what is happening in the world. what was the best bit about it? thinking 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! no i don't! yes they do. no i don't! theodore and his friend liam have started a new fundraiser, cycling the distance between manchester and the middle east to raise funds for children affected by the situation in gaza. it just felt as if it is unfair so we need to do another thing for all the 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. voiceover: for more stories i across the uk, head to the bbc news website.

hey, iam hey, i am dealing wood to catch up. tonight, a ban on disposable vapes, tensions in the middle east 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 —year—olds regularly or occasionally vapes. some even ask other shops to buy vapes for them. he tells them. go in there for me going get this for me. is the money going to get this and i don't want to get banned. 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. 0nce once the details have been figured out, 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 injordan in a drone strike on an american base known as tower 22 — shown here on this map. a militant group backed by iran has claimed responsability and presidentjoe biden said they will be consequences. the militant groups backed by iran have launched strikes on us targets around 150 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 around 1300 people. meanwhile, according to local officials, israel's offensive in gaza is called 26,000 people. and here's ten seconds of an escaped monkey. the animal managed to get out of its enclosure at a 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's it from me. you're 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