The Ahmedabad bench of the National Company Law Tribunal has admitted a petition seeking to initiate bankruptcy proceedings against ride hailing startup BluSmart Mobility, the Economic Times of India reported. BluSmart Mobility was founded by the Jaggi brothers, the promoters of Gensol Engineering, a listed solar engineering company. Gensol itself was admitted into insolvency proceedings by the same NCLT bench in June. The court ordered initiation of corporate insolvency procedures on BluSmart Mobility from the date of pronouncement of the order.

The Cross-Border Insolvency Bill 2025 will not undermine national sovereignty, says law and institutional reform minister Azalina Othman Said in addressing concerns from several MPs over possible interference by foreign courts, FreeMalaysiaToday.com reported. She told the Dewan Rakyat that any form of international cooperation would be subject to Malaysian law.

Japan’s central bank policymakers are expected to keep rates on hold this week, even though a trade deal with the U.S. relieves some uncertainty over tariffs and strengthens the case for tighter policy in coming months, the Wall Street Journal reported. The Bank of Japan has been caught this year between the desire to raise rates amid persistent inflation at home and the need to keep borrowing costs low because of economic uncertainty stemming from U.S. tariffs.

India is preparing to face higher U.S. tariffs — likely between 20% and 25% — on some of its exports as a temporary measure, as it holds off on fresh trade concessions ahead of Washington's August 1 deadline, two Indian government sources said. Instead, New Delhi plans to resume broader trade negotiations when a U.S. delegation visits in mid-August, with the goal of finalising a comprehensive bilateral agreement by September or October, one of the Indian officials told Reuters.

In a setback to lenders, the National Company Law Tribunal has removed Jitender Kothari as the resolution professional (RP) in an insolvency case related to Anil Ambani's personal guarantee to SBI for a loan to Reliance Communications. NCLT appointed Prashant Jain as the new RP, the Times of India reported. In Sept 2016, Ambani had given a personal guarantee for a Rs 1,385-crore loan, which was retrospectively classified as an NPA effective late Aug 2016. Kothari was appointed RP in Aug 2020.

A tactic used by Chinese automakers and dealers to inflate car sales has grown increasingly common in recent years in response to a bruising price war in the world's largest auto market, a Reuters analysis of consumer complaints has found, Reuters reported. Earlier this month, Reuters reported EV brands Neta and Zeekr had arranged for cars to be insured before buyers purchased them, a scheme that effectively inflates sales numbers and gives the appearance the companies were hitting periodic targets.

A Hong Kong conglomerate that had agreed to sell its two ports at the Panama Canal said Monday it may seek a Chinese investor to join a consortium of buyers, a move that could please Beijing but bring more U.S. scrutiny to the geopolitically fraught deal, the Associated Press reported. CK Hutchison Holdings’ initial plan to sell port assets in dozens of countries to a group that includes U.S. investment firm BlackRock Inc. pleased U.S. President Donald Trump, who has alleged that China interferes with the critical shipping lane’s operations in Panama.

Economists are split on whether Singapore's central bank will loosen monetary policy or leave settings unchanged in its scheduled review next week as the economy remains resilient despite weakening global growth, Reuters reported. Of 12 analysts Reuters polled, six expect the Monetary Authority of Singapore to loosen its currency-based monetary policy at the review on July 30 to counter an expected negative output gap in the economy. The other six expect no change in policy. The MAS eased monetary policy twice this year in January and April on growth concerns due to U.S.

A top New Zealand central banker said on Thursday that while the full impact of U.S. tariffs remains uncertain, they could ease medium-term inflation pressures in the country, although the tariffs might dampen business investment and household spending, Reuters reported. As countries redirect exports away from the United States, falling import prices may help lower domestic inflation, Reserve Bank of New Zealand (RBNZ) Chief Economist Paul Conway said in a speech at Business New Zealand. "There's a whole lot of 'wait and see' going on out there right now," Conway said.