Japan's economic revitalisation minister, Minoru Kiuchi, called on the central bank to closely communicate with the government in setting monetary policy on Friday, but did not voice opposition to a near-term interest rate hike, Reuters reported. Asked about growing prospects of an interest rate hike by the central bank in December, Kiuchi said that specific policy means was for the Bank of Japan to decide.

Japanese household spending unexpectedly slumped at the fastest pace in nearly two years in October, government data showed Friday, raising concerns about the economic outlook as the Bank of Japan gears up for a rate hike as early as this month, Reuters reported. Consumer spending fell 3.0% in October from a year earlier, internal affairs ministry data showed, the first decrease in six months and falling at the steepest pace since January 2024. It was worse than the median market forecast for a 1.0% rise.

Yatra Online Limited announced a significant development regarding its wholly-owned subsidiary, TSI Yatra Private Limited, which was previously under Corporate Insolvency Resolution Process (CIRP), TipRanks.com reported. Following a settlement agreement with Ezeego Travels & Tours Ltd., TSI has resolved its financial dispute, leading to the withdrawal of insolvency proceedings. The National Company Law Appellate Tribunal (NCLAT) has directed the refund of a deposit made by TSI and the filing of a withdrawal application for the CIRP.

Malaysian authorities are using drones and handheld sensors to crack down on Bitcoin mining operations stealing power from the grid, according to Bloomberg, Decrypt.com reported. Last month, Malaysia launched a special committee made up of staff from the Ministry of Finance, Bank Negara Malaysia and TNB to target illicit actors. The move is the latest in a series by authorities to rein in illegal mining, including a crackdown in May this year that shut down almost 2,400 operations. Among them was the seizure of 45 rigs in the northeast of the country.

India’s rupee slipped to yet another fresh low on Wednesday, pressured by capital outflows and continued uncertainty about a trade deal with the U.S., the Wall Street Journal reported. While most other countries in the region have negotiated pacts with the Trump administration, a India-U.S. agreement remains in limbo. Washington has slapped hefty 50% tariffs on India’s goods, and it remains unclear how much progress has been made after various rounds of talks. The Indian currency has plumbed a series of new lows versus its U.S.

Country Garden, once one of China’s largest property developers, on Tuesday received U.S. bankruptcy court recognition for its Hong Kong restructuring plan, WSJ Pro Bankruptcy reported. Judge Philip Bentley of the U.S. Bankruptcy Court for the Southern District of New York said he is satisfied that the company’s principal place of business is in Hong Kong, a key finding required for a foreign restructuring plan to seek U.S. recognition. The recognition of Country Garden’s Hong Kong restructuring plan under chapter 15 of U.S.

The parliamentary standing committee on finance has called on the government to consider setting up special fast-track courts for a fixed time, on top of bolstering the National Company Law Tribunal (NCLT) strength, to cut massive case backlogs and expedite the rescue of insolvent companies, the Economic Times of India reported.

S&P Global Ratings on Wednesday revised up its jurisdiction ranking assessment for India's insolvency regime on improved creditor-friendliness of India's bankruptcy resolution framework, the Economic Times of India reported. S&P said the Insolvency and Bankruptcy Code (IBC) has strengthened credit discipline and tilted the resolution process in favour of creditors, with promoters potentially risking losing control of their business, unlike under earlier resolution regimes.

A major Australian caravan manufacturer has been plunged into voluntary administration just weeks before Christmas, according to the Daily Mail and multiple other reports. Zone RV has appointed administrators Cor Cordis to conduct an ‘urgent review’ of its operations and will continue trading in a ‘substantially reduced capacity,’ RVBusiness.com reported. The luxury off-road caravan company, based on Queensland‘s Sunshine Coast, informed 250 employees of their uncertain futures on Monday before sending them home. It’s understood staff are owed entitlements, including holiday pay.

The Enforcement Directorate has said that realty developer Experion Developers misused the provisions of the Insolvency and Bankruptcy Code in acquiring 9.3 acres of land in Sector 62 of Gurugram, the Economic Times of India reported. While investigating a Prevention of Money Laundering Act (PMLA) case against Religare Finvest, the ED had attached assets belonging to the corporate debtor, Dignity Buildcon, which was later acquired by Experion.