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.

China released a draft amendment to its pricing law on Thursday as part of efforts to curb excessive competition and price wars among firms, amid persistent deflationary pressures, Reuters reported. Chinese leaders have signaled they will rein in price wars among producers as expectations grow for a new round of factory capacity cuts in a long-awaited but challenging campaign against deflation - a move that could pose risks to economic growth.

Turkey’s central bank moved to lower borrowing costs for the first time in nearly five months, restarting an easing cycle that had been disrupted by a political furor, the Wall Street Journal reported. The central bank said Thursday it would lower its benchmark rate by three points to 43% from 46%, marking the first time since early March that it has cut rates. Later that month, a prominent political rival to President Recep Tayyip Erdogan was arrested by police on what the opposition described as politically motivated charges.

President Trump’s trade agreement with Japan, announced this week, has intensified pressure on South Korea to cut a deal that doesn’t leave it at a disadvantage relative to its biggest rival in East Asia, the New York Times reported. Kim Jung-Kwan, South Korea’s industry minister, who arrived in Washington on Wednesday for negotiations, pledged an “all-out effort” to strike a deal by the Aug. 1 deadline to stave off a 25 percent tariff that the White House threatened in April and again this month. Moving forward, Mr.

The U.S. Public Company Accounting Oversight Board said on Tuesday it had revoked the license of a Hong Kong firm and barred its owner for violating audit rules related to companies operating in China, including Luckin Coffee Inc., Reuters reported. The PCAOB said in a statement it had sanctioned Centurion ZD CPA & Co and its owner Chan Kam Fuk and hit them with a civil penalty of $75,000 for violating the board's rules and standards in connection with its audit work for three firms.