Finance and corporate affairs minister Nirmala Sitharaman on Tuesday said that 204 insolvency cases in the real estate and construction sector were resolved under the bankruptcy law until March 2025, yielding an average recovery of 44.7% against the lenders' admitted claims, the Economic Times of India reported. The realisation was, however, as much as 111.6% of the fair value and 172.15% of the liquidation value of the rescued firms, Sitharaman said in a statement in the Rajya Sabha.

Chinese leaders signaled they would refrain from rolling out more major stimulus for now, as authorities pivot to addressing excess capacity in the economy, the Wall Street Journal reported. Instead of announcing more policy support to bolster growth, the ruling Communist Party’s Politburo, China’s top policymaking body, pledged Wednesday to better execute policies that are already in place, according to a readout by state-run Xinhua News Agency.

Three cabinet-level South Korean officials met U.S. Commerce Secretary Howard Lutnick in Washington for trade talks, Seoul said on Wednesday, as top business leaders were also reported to be flying in to help lobby for a deal on U.S. tariffs, Reuters reported. South Korean Finance Minister Koo Yun-cheol joined Industry Minister Kim Jung-kwan and Minister for Trade Yeo Han-koo, who have been in Washington since last week, for two hours of talks with Lutnick, a ministry spokesperson said in Seoul. The finance ministry spokesperson did not offer details of the discussions. U.S.

President Donald Trump on Tuesday threatened to raise tariffs on Indian imports as high as 25% if the allied nations cannot complete a long-sought trade agreement, CNN reported. “They are going to pay 25%,” Trump said. When asked by a reporter if India would pay tariffs of 20% to 25%, Trump said, “Yeah, I think so. India has been – they’re my friends.” US Trade Representative Jamieson Greer told CNBC Monday that an elusive India trade agreement would require more discussion between the two countries.

Singapore’s central bank kept its monetary policy unchanged after easing at its last two meetings, as the city-state continues to face risks from looming U.S. tariffs, the Wall Street Journal reported.

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.