Global Dollar Bond Sales to Accelerate After $61 Billion Surge
Global dollar bond issuance is poised to accelerate after Monday’s USD 61 billion surge, the biggest one-day tally in nearly a year, as Asian borrowers storm the market, Bloomberg reported.
China Orders Banks to Recall Troubled Loans Tied to Hidden Local Government Debt
China has ordered some banks to recall troubled loans and freeze troubled accounts linked to local government financing vehicles (LGFVs) after auditors uncovered illegal financial activities, signaling a further push to rein in risks from hidden local government borrowing, Caixin reported.
Top Economists Call for Halt to Sri Lanka Debt Repayments After Cyclone Ditwah
A group of the world’s top economists – including Nobel prize winner Joseph Stiglitz – called for Sri Lanka’s debt payments to be suspended as it tackles the devastation caused by Cyclone Ditwah, The Guardian reported.
Air India Kicks Off Search to Replace CEO Amid Persistent Losses
Tata Group has started scouting for a new chief executive for Air India, as it grows impatient with the airline’s slow recovery after a deadly crash that killed more than 241 passengers and crew last year, Bloomberg reported.
Novaland Cuts Debt by Over $126 Million
Vietnamese developer Novaland has reduced its outstanding debt by more than VND 3.3 trillion (USD 126.4 million) after issuing new shares to swap debt and convert bonds, The Investor reported.