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Country Garden Wins Approval To Extend Bond Repayments

EMERGING MARKETS
  • China's largest private property developer Country Garden won approval from its creditors to extend repayments on six onshore bonds by three years, two sources familiar with the matter said on Tuesday, sending shares up as much as 10%.
  • MNI (Beijing) The Chinese government needs to adopt more aggressive expansionary macroeconomic policies, including more fiscal spending and rate cuts, to bolster demand as factory orders shrink rapidly, while authorities should implement recently announced supply-side policies as soon as possible, a former member of the People's Bank of China's Monetary Policy Committee told MNI.
  • French Finance Minister Bruno Le Maire will travel to Berlin on Wednesday to push Germany for tougher measures to protect European industry in a global race against China and the US.
  • Russian President Vladimir Putin has appeared to nix the prospect of a widespread mobilisation of Russian troops following Ukrainian military reports yesterday. The Ukrainian General Staff said yesterday: "A mass forced mobilisation of the population is expected soon in the Russian Federation and temporarily occupied territories of Ukraine due to the occupiers' catastrophic losses."
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