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Shares in Chinese property giant Country Garden down sharply
Shares in Chinese property giant Country Garden down sharply
Business and Economy
by  AFP

Shares in Chinese property giant Country Garden plunged on Monday after it missed bond payments and warned of multibillion-dollar losses, deepening concerns over the nation's heavily indebted real estate sector. Like heavily indebted competitor Evergrande, any collapse of Country Garden would have catastrophic repercussions for the Chinese financial system and economy.

'No more water': Iraq drought claims lakeside resort
'No more water': Iraq drought claims lakeside resort
Business and Economy
by  AFP

Iraqi merchant Mohamed has never seen such a grim tourist season: years of drought have shrunken the majestic Lake Habbaniyah, keeping away the holidaymakers who once flocked there during summer. "Before, we would come here and it was much better, the water was higher," said the 45-year-old merchant.

'Barbie' retains top spot at N.American box office for fourth week
'Barbie' retains top spot at N.American box office for fourth week
Business and Economy
by  AFP

Warner Bros.' hit "Barbie" dominated North American box offices for a fourth consecutive week, industry estimates showed Sunday, as director Greta Gerwig continues to bust industry records. Last week "Oppenheimer" had been beaten by the Warner Bros. monster flick "Meg 2: The Trench," which fell to fourth this week with an estimated $12.7 million.