When Indian education-technology company Byju’s was ordered last year to freeze over $500 million as part of a U.S. court battle with its lenders, it said the funds were safely within the business, WSJ Pro Bankruptcy reported. Byju’s by that time had already moved the half-billion dollars out of the U.S. through transactions involving a little-known hedge fund that were obscured in financial statements showing the cash sitting in its accounts, court records show.

Chinese property developer Country Garden said on Friday that it had reached an agreement with a key bondholder group and was close to finalising negotiations with a group of bank creditors, Reuters reported. The company defaulted on its offshore debt in late 2023 and is now in a restructuring process that aims to cut $14.1 billion of that debt by 78%. The restructuring support agreement with the key bondholder group holding 30% of the embattled developer's $10.3 billion existing offshore bond debt came ahead of a liquidation court hearing in Hong Kong on May 26.

Beijing increased its tariffs on U.S. imports to 125% on Friday, hitting back against President Donald Trump's decision to raise duties on Chinese goods and upping the stakes in a trade war that threatens to upend global supply chains, Reuters reported. U.S. stocks ended higher, capping a volatile week, as China's retaliation intensified global economic turmoil unleashed by Trump's tariffs. But the safe haven of gold hit a record high during the session, and benchmark U.S.

A consortium of Indian banks, led by State Bank of India, on Wednesday (April 9, 2025) won their court appeal in London to uphold a bankruptcy order against Vijay Mallya in a long-standing legal battle seeking repayment of a judgment debt owed by his now-defunct Kingfisher Airlines, TheHindu.com reported. High Court judge Anthony Mann ruled in favour of the banks to allow an appeal heard in February, while refusing two applications seeking permission to appeal filed by the 69-year-old businessman, declared a fugitive and wanted for fraud and money laundering charges in India.

China's consumer prices fell for the second straight month in March while factory-gate deflation worsened, as an escalating U.S. trade war heightened worries about mounting piles of unsold exports that could drive domestic prices even lower, Reuters reported. The world's second-largest economy has gotten off to a bumpy start this year. A nascent pick-up in retail sales and robust expansion in factory activity have been offset by rising unemployment and deflationary pressures, fueling calls for more stimulus.

Australia has swiftly turned down China's offer to "join hands" against Donald Trump's tariffs, as Washington escalates its trade war with Beijing, BBC.com reported. The White House recently imposed an import tax of 10% on Australian goods, but for China - Australia's biggest trading partner - raised tariffs to 125%. China's ambassador to Australia Xiao Qian argued joint resistance is "the only way" to stop the "hegemonic and bullying behaviour of the US", appealing for Canberra's cooperation in an opinion piece on Thursday.

The Philippine central bank cut its policy rate Thursday as widely expected, against a backdrop of cooling inflation at home and trade turmoil abroad, the Wall Street Journal reported. Bangko Sentral ng Pilipinas lowered its benchmark overnight reverse repurchase rate to 5.50%, Gov. Eli Remolona said. The central bank also reduced its benchmark lending rate to 6.00%. The decision had been expected by most economists, with recent Philippine inflation data cementing the case for a cut. Risks from new U.S. tariffs strengthened that argument.

Vietnamese budget carrier Vietjet said on Thursday it has signed an agreement worth $300 million with AV AirFinance, a partner of investment fund KKR, to fund the expansion of its fleet. Thursday’s announcement confirmed a Reuters report last week on the finance deal done between Vietjet and AV AirFinance during a visit to the U.S. by Deputy Prime Minister Ho Duc Phoc for reciprocal tariff negotiation. The deal value was initially reported at $200 million. The agreement with AV AirFinance is the latest in a string of financing agreements worth $4 billion that have been signed with U.S.

China on Wednesday announced an additional 50% retaliatory tariff on all U.S. imports, bringing the total tariff level to 84%, NPR.org reported. The measures are a response to President Trump's latest round of tariffs, which went into effect overnight, and include a 104% levy on Chinese goods. The Chinese finance ministry says the new charges will take effect at midnight in China, or Wednesday noon Eastern time. "The US's practice of escalating tariffs on China is a mistake on top of a mistake," the ministry said in a statement announcing the fresh round of levies. China calls on the U.S.

The Reserve Bank of India (RBI) lowered its key repo rate on Wednesday for a second consecutive time and changed its monetary policy stance signaling room for more cuts ahead, as it seeks to boost the sluggish economy in the face of fresh U.S. tariffs, Reuters reported. India became the second central bank after the Reserve Bank of New Zealand to cut interest rates since the wide-ranging trade levies were announced. The tariffs have raised the risk of a global slowdown and a U.S.