Headlines

Project developer HH2E AG is set to file for self-administration after it failed to secure financing for one of Germany’s largest hydrogen projects, Bloomberg News reported. HH2E has been fundraising for its first development project, a hydrogen production plant in the Baltic port of Lubmin. While it said negotiations resulted in final agreements, majority shareholder Foresight Group Holdings Ltd. ultimately decided against providing the necessary financing, HH2E said in a statement. Foresight didn’t comment on its role in the breakdown of financing discussions in a separate statement.

Several lawmakers are considering the formation of a special committee to investigate the recent bankruptcy ruling against Sritex, Indonesia’s largest textile company, which could potentially lead to tens of thousands of job losses, JakartaGlobe.id reported. Members of the House of Representatives' Commission VII on industry and the creative economy revealed the plan during a visit to Sritex’s factory in Sukoharjo Regency, Central Java, on Thursday.

Investors who won a $16 billion judgment against Argentina over its nationalization of energy firm YPF SA more than a decade ago are open to receiving payment in bonds instead of cash, Bloomberg News reported. Burford Capital, a litigation funder that’s the biggest stakeholder in the case, would accept sovereign bonds or other marketable securities, considering the Argentine central bank’s depleted foreign reserves, the people noted, asking not to be identified because the discussions are private.

China unveiled a 10 trillion yuan ($1.40 trillion) debt package on Friday to ease local government financing strains and stabilise flagging economic growth, as it faces fresh pressure from the re-election of Donald Trump as U.S. president, Reuters reported. The measures confirm last week's Reuters report, and mark a departure from the all-out stimulus strategies to revive growth China has deployed in the past. They aim to repair municipal balance sheets as a longer-term objective, rather than directly inject money into the economy.

Chinese builder Hopson Development Holdings Ltd. is in talks for a new private loan to refinance an expired bridge facility that backed the purchase of some property in Hong Kong, Bloomberg News reported. Discussions for the new loan with Seatown Holdings Pte Ltd., a subsidiary of Singaporean sovereign fund Temasek Holdings Pte, are ongoing, the people said. Earlier this year, Hopson, whose projects include high-end residential and commercial properties in Beijing and Guangzhou, received a four month bridge loan of around $100 million to $115 million from Seatown.

Japan’s finance minister has issued a fresh warning to the currency market in the wake of Donald Trump’s election victory, which sent the dollar sharply higher against the yen, the Wall Street Journal reported. “We are watching developments in the currency market, including speculative moves, with an extremely high sense of urgency,” Katsunobu Kato said at a news conference on Friday.

Turkey’s central bank raised its inflation forecasts for this year and through 2026, bringing them closer to market expectations after price gains exceeded estimates for two consecutive months, Bloomberg News reported. The latest outlook shows officials see inflation finishing this year at 44% and then reaching 21% by the end of 2025, up from their previous estimates of 38% and 14%, respectively. The revision, “though not ideal, is not a serious deviation” and the bank expects price growth at 38% in March, Governor Fatih Karahan said Friday in the capital Ankara.

Inflation smashed through the top of the central bank’s tolerance range in Brazil and accelerated much more than expected in Chile as surging energy costs give policymakers another reason to worry, Bloomberg News reported. Official data released Friday showed Brazil’s consumer prices rose 4.76% in October from the year prior, above the 4.5% tolerance ceiling of the central bank’s goal. Chile’s cost of living posted the biggest monthly rise since March of last year as annual inflation sped up to 4.7%.

An Indian state agency has banned Reliance Power from clean energy tenders for three years after finding it had used a fraudulent bank guarantee in a bidding process, with the developer now alleging that it is in fact the victim of a “conspiracy,” RechargeNews.com reported. The Solar Energy Corporation of India (SECI) said on Wednesday it is banning Reliance Power and its units from tenders for three years after finding it had relied on a “fake” endorsement of a bank guarantee. Reliance Power is a subsidiary of Indian conglomerate Reliance Group.

Julius Baer Group Ltd. hired Goldman Sachs to seek buyers for its Brazilian unit, according to people familiar to the matter, a move that could help the Swiss bank right its footing after some high-profile setbacks, Bloomberg News reported. The unit has already been offered to some Brazilian banks and multifamily offices, the people said, asking not to be identified because the talks are private. Talks are ongoing and may not end up in a deal, the people said. Goldman Sachs and Julius Baer declined to comment.