Evergrande said to propose two offshore restructuring options- Bloomberg News

(Reuters) -Embattled property developer China Evergrande Group has been discussing a restructuring proposal with creditors that includes two options for extending payment deadlines on unsecured offshore debt, Bloomberg News reported on Tuesday. One proposed option would entail installment payments on the principal amount of the debt with total repayment in as many as 12 years, …

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Production resumes at Indonesian nickel smelter after deadly clash

JAKARTA (Reuters) – Production at an Indonesian nickel smelter owned by China’s Jiangsu Delong Nickel Industry resumed on Tuesday, police said, after operations were suspended due to a protest and rioting at the weekend in which two workers were killed. An Indonesian and a Chinese worker died, while vehicles and dormitories were torched during the …

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U.N. watchdog optimistic about Ukraine nuclear plant protection

YUZHNOUKRAINSK, Ukraine (Reuters) – The head of the United Nations nuclear watchdog said on Monday he hoped to make progress on a safe zone deal around the Russian-controlled Zaporizhzhia plant in Ukraine, but stressed it was a tough negotiation. Russian forces in March captured the Soviet-era plant, Europe’s largest, soon after their invasion of Ukraine. …

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Presidente de Colombia advierte que no aceptará orden de captura contra su ministro de Defensa por parte de Guatemala

BOGOTÁ, 16 ene (Reuters) – El presidente de Colombia, Gustavo Petro, dijo el lunes que no aceptará una orden de captura contra su ministro de Defensa, Iván Velásquez, después de que la Fiscalía de Guatemala anunció acciones legales contra el funcionario y anunció que llamó a consultas a su embajadora en ese país centroamericano. “Jamás …

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China’s COSCO SHIPPING Holdings to pay over $800 million for 5.8% stake in COFCO Fortune

BEIJING/HONG KONG (Reuters) – China’s COSCO SHIPPING Holdings has agreed to pay 5.5 billion yuan ($814 million) to buy a 5.8% stake in COFCO Fortune, a food processing and logistics unit of Chinese state agricultural conglomerate COFCO. According to a COSCO SHIPPING Holdings stock exchange filing late on Monday, the deal is part of a …

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Indian state-run firm seeks electricity buyers from brownfield coal-fired units

SINGAPORE (Reuters) – India’s state-run Damodar Valley Corp (DVC) on Tuesday invited power distribution utilities and industries to buy power from 5 brownfield coal-fired units it is expanding. DVC expects to expand capacity of five coal-fired units in two states by 54.4% to 3.72 gigawatts, with the expanded capacity coming online between March 2027 and …

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Singapore’s Dec non-oil domestic exports fall 20.6% yoy

SINGAPORE (Reuters) – Singapore’s non-oil domestic exports (NODX) declined 20.6% year-on-year in December 2022, led by drops in both electronics and non-electronic products. On a month-on-month seasonally adjusted basis, NODX declined 3.3% in December, following November’s 9.2% drop. This brought full-year NODX growth in 2022 to 3.5%, which OCBC economist Selena Ling said was the …

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Expert View: China’s economy slows sharply in Q4, 2022 growth one of the worst on record

(Reuters) – China’s economy slowed sharply in the fourth quarter due to stringent COVID curbs, dragging down 2022 growth to one of its worst in nearly half a century and raising pressure on policymakers to unveil more stimulus this year. Gross domestic product (GDP) grew 2.9% in October-December from a year earlier, data from the …

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India central bank’s new proposal on loan loss provisions to raise bank capital needs – analysts

MUMBAI (Reuters) – The Indian central bank’s discussion paper suggesting banks make provisions on bad loans using an expected credit loss (ECL) method could raise capital requirements for lenders, analysts said. On Monday evening, the Reserve Bank of India released the paper proposing a shift away from the current method – where loan loss provisions …

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