Country Garden bondholders are seeking urgent talks with the troubled property developer after it missed a $15 million coupon repayment, putting it at risk of default, Reuters reported. Two bondholder groups have emerged seeking discussions about a potential debt restructuring package, with a major one close to appointing either Moelis or PJT as financial advisers, said the sources, who declined to be identified because the information is confidential.

Sri Lanka's sovereign dollar bonds fell more than 2 cents on Thursday, Tradeweb data showed, after authorities from the island nation expressed "serious reservations" about a debt restructuring proposal put forward by international bondholders, Reuters reported. Sri Lanka is in the midst of a debt restructuring after defaulting last year during a punishing economic crisis. The November 2025 maturity fell at the quickest pace, losing 2.45 cents as of 0946 GMT, but most of the country's sovereign dollar bonds had lost 2 cents or more.

Dabur India said on Wednesday its subsidiaries were among companies sued in the U.S. and Canada by customers alleging that the use of hair relaxer products had caused ovarian cancer, uterine cancer and other health issues, Reuters reported. "Currently, the cases are in the pleadings and early discovery phases of litigation," it said in an exchange filing, adding the allegations are based on "unsubstantiated and incomplete" study.

The Monetary Authority of Singapore (MAS) on Thursday told DBS Group Holdings' unit DBS Bank and Citibank Singapore to conduct a thorough investigation after they failed to recover their systems fully within a required timeframe during an unscheduled outage on Oct. 14, Reuters reported. The central bank said unscheduled downtime for a critical system that affects a bank's operations or service to customers must not exceed four hours within any 12-month period. On Saturday Oct. 14, DBS's and Citibank's online banking and payment services went offline from around 3 p.m.

A Country Garden $15 million coupon payment deadline has expired without word of payment, fuelling expectations that China's biggest private property developer has defaulted on its offshore debt as the nation's real estate woes deepen, Reuters reported. Non-payment would trigger cross defaults in other Country Garden bonds as is standard in bond contracts. The company has almost $11 billion of offshore bonds and a default would set the stage for one of China's biggest corporate debt restructurings.

China’s economy showed signs of emerging from a soft patch in the third quarter, as retail sales got a lift from government stimulus and factory activity stabilized after months of weakness, the Wall Street Journal reported. Growth came in at 4.9%, faster than expected by economists though still a decline on a year-on-year basis from the previous quarter. Growth accelerated on quarter-on-quarter terms, which strips out distortions caused by China’s unlocking from Covid lockdowns in 2022. The economy’s performance holds off for now broad fears about a more serious economic crunch.

Singapore’s financial regulator will conduct an on-site inspection of Credit Suisse Group AG after at least one of its customers was charged for money laundering in a scandal that has rocked the city-state, Bloomberg News reported. The local unit of Credit Suisse will be among banks the Monetary Authority of Singapore plans to examine to determine whether they properly handled the monitoring of wealthy clients. Officials from the regulator are set to interview personnel and review documents within weeks.

Australian house prices are poised for an annual rebound during a policy tightening campaign for the first time since at least the early 1990s, when the Reserve Bank began inflation targeting and entered the modern era, Bloomberg News reported. National property prices will climb 7.7% this year, a Bloomberg survey showed, recovering from a 4.8% decline in 2022. The median estimate of the poll of 12 economists was for the housing market to advance by a further 4.5% in 2024.

Country Garden's entire offshore debt will be deemed to be in default if China's largest private property developer fails to make a $15 million coupon payment on Tuesday, the end of a 30-day grace period, Reuters reported. Non-payment of this tranche is set to trigger cross defaults in other bonds as is standard in bond contracts. With nearly $11 billion of offshore bonds and $6 billion of offshore loans, a default by Country Garden would set the stage for one of China's biggest corporate debt restructurings, as the country's property sector crisis deepens and drags on economic growth.