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SHANGHAI: China is in a new phase of its campaign to cut debt, focusing on rules to shrink a bloated financial sector that has grown rapidly as product innovation outpaced regulatory oversight, a senior researcher at the Shanghai Stock Exchange said.
SINGAPORE: Singapore-listed commodities trader Noble Group agreed to sell its North American energy distribution unit to U.S. firm Calpine Corp for $1.05 billion, moving a step closer to completing a restructuring to raise $2 billion to help cut debt.
SYDNEY: Virgin Australia, the country's second-biggest airline, is tapping investors in a cash call worth more than 80% of its market value, aiming to cut debt and cover restructuring costs as it targets lucrative Chinese tourist traffic.
HONG KONG: Sunac China Holdings Ltd plans to slow the rate of land purchases to boost profit and cut debt, a top executive said on Friday, a day after the country's sixth-largest property developer by sales reported a tripling in half-year earnings.
Hutchison Telecommunications Ltd plans to raise up to A$2.85bil (US$2.26bil) in equity to cut debt and interest costs, prompting a slump in the firm's share price.
Loss-making Japanese electronics manufacturer Sanyo Electric Co may sell its credit unit to generate cash for restructuring and help reduce its mountain of debt, analysts said.
Kumpulan Guthrie Bhd said it plans to use funds from its Indonesian unit's share sale to build edible oil refineries and pare its debt.
WASHINGTON: Pakistan needs to mobilise domestic tax revenue to ensure funds for social and development programs, while reducing debt, the acting director of the International Monetary Fund said on Sunday after a meeting with Pakistani Prime Minister Imran Khan
ZURICH: Swiss packaging maker SIG Combibloc plans to sell one billion euros (US$1.2bil) worth of new shares “in coming months” to trim debt to levels normal for the industry, chief executive officer Rolf Stangl said.
MUMBAI: GMR Infrastructure Ltd, the operator of India’s biggest airport, is considering listing its airport and power generation units and selling shares to institutional investors as it seeks to reduce debt, people with knowledge of the matter said.