Continuing its operation against alleged fraudulent corporate resolutions of bankrupt companies and money laundering activities during insolvency proceedings at National Company Law Tribunal (NCLT), ED on Thursday arrested Arvind Kumar, a former resolution professional (RP) of Richa Industries Ltd., The Times of India reported.

A South Korean crypto exchange accidentally credited users with billions of dollars’ worth of Bitcoin this week, triggering a flash crash in the platform’s listed value of the token, Decrypt.com reported. Instead of airdropping users 2,000 won (a sum worth $1.37 at writing), the exchange, Bithumb, reportedly sent 2,000 BTC apiece, users said. That massive sum was worth some $142 million at writing, with Bitcoin recently trading around $71,000. Read more.

Indonesia's stocks and currency skidded on Friday after Moody's lowered the country's credit rating outlook, the latest jolt for Southeast Asia's largest economy, wiping about $120 billion off its equity market in a turbulent start to the year, Reuters reported. International investors have reacted nervously to President Prabowo Subianto's attempt to ramp up growth to 8%, as concerns over fiscal health and central bank independence cool sentiment on Indonesia.

A Bank of Japan board member highlighted the need for further increases to the benchmark interest rate in order to complete the process of normalizing policy settings, in a signal that’s likely to sustain emerging speculation over an early rate hike, Bloomberg News reported. "I am convinced that continuing with further policy interest rate hikes will be needed to complete the normalization of monetary policy in Japan,” Kazuyuki Masu said Friday in a speech to local business leaders in Ehime Prefecture.

Panamanian President Jose Raul Mulino said on Thursday that the concession of contracts to operate two ports held and operated for nearly three decades by Hong Kong's CK Hutchison Holdings will "never again" be issued to a single company, Reuters reported. Panama's Supreme Court last week nullified CK Hutchison's contract to operate two ports along its strategic canal through its Panama Ports Company subsidiary, ruling that the contracts violated the Central American nation's constitution by giving the company exclusive privileges and tax exemptions.

In China’s northeastern grain belt, farmers are getting a windfall from the government: more subsidies to grow soybeans, part of an estimated $1 trillion national effort to declare economic independence from the U.S., the Wall Street Journal reported. More than 7,500 miles away, in Milwaukee, the industrial-parts manufacturer Husco is scrambling to use fewer Chinese-made components in its U.S. factories, as the Trump administration wields tariffs to reduce imports and try to resurrect American manufacturing.

India is talking to cryptocurrency exchanges to assess evolving trading activity as it ​seeks oversight over newer crypto products, according to a ‌top tax official, Reuters reported. India does not regulate cryptocurrencies, but global crypto exchanges such ‌as Binance, Coin DCX, Coinbase and Zebpay operate in the country after registering with a government agency. Asia's third-largest economy has imposed punitive taxes on gains from cryptocurrencies and the local central bank ⁠has repeatedly cautioned against ‌the risks from crypto trading.

Prudential Life Insurance announced Wednesday that it would suspend sales of new insurance policies for 90 days, following the discovery of widespread financial misconduct involving current and former employees, the Japan Times reported. According to the company’s news release, the suspension period, which is scheduled to begin on Monday, was determined based on the time required to swiftly implement priority reforms, including strengthening governance, conducting internal reviews and enhancing compliance training.

The Chinese company operating ports at the Panama Canal has filed for arbitration after the country’s Supreme Court voided its operating contract, claiming it was unfairly targeted by the country over the past year, Freight Waves reported. Panama Ports Company, a unit of Hong Kong-based CK Hutchison, said on Wednesday that it has commenced arbitration proceedings against Panama over its concession contract at the International Chamber of Commerce in Paris.