Debt-ridden Chinese conglomerate HNA Group said on Sunday that it had succeeded in resolving its debt risks, more than two years after a working group was created to restructure the company’s debts.
FRANCE
<strong>Bank upbeat on economy</strong>
Economic activity is forecast to continue rising this month, despite another wave of the COVID-19 pandemic, the Bank of France said. Completed at the end of last week, the central bank’s monthly survey of 8,500 firms is the first indicator of how businesses in the eurozone’s second-largest economy are faring since the Omicron variant of SARS-CoV-2 emerged. Based on their responses, the institution estimates economic activity was 0.5 percent above pre-crisis levels last month and would be 0.75 percent higher this month. That means output for the whole fourth quarter would also expand by almost 0.75 percent.
Liaoning Fangda Group Industrial Co and Hainan Development Holdings will offer cash and equity to settle debt owed to retail investors in China's HNA Group, the team leading the conglomerate's restructuring told creditors on Wednesday, two sources said.
China s Hainan Airlines ropes in Liaoning Fangda Group as strategic investor dealstreetasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dealstreetasia.com Daily Mail and Mail on Sunday newspapers.