China Evergrande Group on Monday said it has been granted an adjournment of a court hearing into a liquidation petition to Jan. 29, giving the embattled property developer time to finalise a revamped offshore debt-restructuring plan, Reuters reported. The decision came as the world's most indebted developer with more than $300 billion in liabilities sought adjournment unexpectedly unopposed by the petitioner's lawyer. On Oct.

Given the strains China’s economy is already laboring under—including a slow-motion property sector implosion and the “serious” insolvency of Zhongzhi Enterprise Group, a large asset manager, in its own words—it isn’t a great sign that China’s money markets have recently been throwing off little blips of distress too, the Wall Street Journal reported. There is little sign of an immediate crisis such as the one that erupted in the wake of regulators’ sudden takeover of Baoshang Bank, a midsize lender, in 2019.

SBI Holdings Inc., Rakuten Group Inc. and Monex Group Inc. are among brokerages in Japan that also sold Credit Suisse’s riskiest bonds to retail investors, highlighting the widening fallout of these products in the country, Bloomberg News reported. The operators of the nation’s three major online brokerages offered the Swiss lender’s Additional Tier 1 notes for a minimum purchase amount of $200,000, according to copies of the firms’ product explanatory materials seen by Bloomberg News.

Chinese property giant Evergrande and its biggest foreign creditors are negotiating an 11th-hour deal to prevent a liquidation of the company’s offshore businesses on Monday, WSJ Pro Bankruptcy reported. Evergrande and a group of its bondholders have been negotiating to restructure the financially troubled company after Chinese regulators vetoed a previous version of their plan. In a recent proposal, Evergrande has offered to give control of around 20% of its Guangdong-based parent company, China Evergrande Group, to its creditors.

China Evergrande Group, the world's most indebted property developer, is seeking to avert a potentially imminent liquidation with a last-minute debt restructuring proposal, Reuters reported. The defaulted company has until a Hong Kong court hearing on Monday to present a "concrete" revised debt restructuring proposal for offshore creditors, a judge said last month after its original plan had lapsed.

A brief rebound in China’s struggling economy showed worrying new signs of flickering out, heaping pressure on Beijing to take bolder steps to rev up growth, the Wall Street Journal reported. Factory activity slid deeper into contraction in November as domestic and foreign orders dried up, while, in an ominous sign for consumer spending, activity in the services sector shrank for the first time this year, according to business surveys released Thursday. Only construction registered any expansion compared with the previous month as government spending on infrastructure increased.

Sri Lanka said on Wednesday that it has reached an agreement in principle with a group of creditors including India and Japan on debt restructuring, a crucial move toward unlocking a second instalment of a $2.9 billion bailout package from the International Monetary Fund, the Associated Press reported. The agreement with the Official Creditor Committee covers approximately $5.9 billion of outstanding public debt and consists of a mix of long-term maturity extension and reduction in interest rates, a statement from the country's Finance Ministry said.

Binance Holdings Ltd.’s attempt to turn the page on costly regulatory violations faces a test in Thailand, where the world’s largest crypto exchange will soon start a new trading venue with one of Asia’s richest men, Bloomberg News reported. The venture with Sarath Ratanavadi’s Gulf Energy Development Pcl recently received the required licenses, but Binance’s guilty plea last week and $4.3 billion in penalties for US anti-money laundering and sanctions contraventions have cast a shadow over the planned domestic digital-asset platform.

In Courtroom No. 29, a gray, musty cubbyhole of a space wedged into the heart of Hong Kong’s tony banking district, Judge Linda Chan presides over China’s great financial reckoning, Bloomberg News reported. One after the other, the high-powered attorneys and executives of distressed real-estate developers — the behemoths that had once powered the economic boom that made China the envy of the world — come before her to plead for their financial lives: China Evergrande Group, Sunac China Holdings, Jiayuan International Group, Kaisa Group Holdings.

Vietnam’s Bamboo Airways JSC is rebuilding under its new chief executive officer, who is intent on proving the indebted six-year-old carrier has a future after shedding two-thirds of its fleet and 80% of its network, Bloomberg News reported. “We need our passengers to believe in our future,” Luong Hoai Nam said in an interview with Bloomberg News. “We need to make our investors, shareholders and potential investors believe in our future.