Indian supermarket-operator Future Retail Ltd. approved a debt resolution plan that eases some immediate concerns as a legal battle with partner Amazon.com Inc. threatens to delay an asset sale to Reliance Industries Ltd., Bloomberg News reported. Future Retail’s board agreed to a proposition to restructure its secured bank debt and three rupee-denominated bonds, according to an exchange filing Saturday. The plan, which was accepted by lenders, is subject to approval by a committee formed by the central bank and exchanges.

Real estate firm Wave Megacity Centre has moved the National Company Law Tribunal (NCLT) voluntary requesting it to initiate insolvency proceedings against itself as it is unable to clear the dues of the Noida Authority, the Economic Times reported. Wave Megacity Centre Ltd is developing commercial and residential projects in sectors 25A and 32 of Noida, Uttar Pradesh. It has asked NCLT to initiate the insolvency proceedings "due to failure of...

South Korea’s SsangYong Motor has been put under court receivership, the Seoul Bankruptcy Court said on Thursday, in an attempt to rehabilitate the car maker after majority owner Mahindra and Mahindra failed to secure a buyer, Reuters reported. SsangYong applied to the court in December for receivership after it defaulted on a loan repayment. The South Korean automaker is expected to submit a rehabilitation plan to the court by June.

Bank of Korea Governor Lee Ju-yeol said the economy will still expand faster than previously expected, even as rising coronavirus infections and a slow pace of vaccinations at home raise concerns over the outlook, Bloomberg News reported. Growth will probably reach the mid-3% mark this year, above a 3% central bank forecast in February, Lee said at a press briefing after the board held its key interest rate at 0.5%.

Qantas Airways Ltd. said that it expected domestic travel would top pre-pandemic levels next financial year as it raised its forecast for the current quarter on the back of strong demand in a country nearly free of COVID-19, Reuters reported. A return to 90% of pre-pandemic domestic capacity in the fourth quarter ending June 30 will allow it to report positive cashflow and begin repairing a balance sheet burdened by extra debt that helped get it through the pandemic, Chief Executive Alan Joyce said on Thursday.

With the number of tourists visiting Himachal gradually decreasing and hotels reporting cancellations of bookings, the hoteliers and others associated with the tourism industry say they are very close to bankruptcy, the Times of India reported. A day after Himachal government had announced that tourists from seven highly-affected states and union territories will need to bring negative RT-PCR report to visit Himachal from April 16, the tourism stakeholders held a meeting in Manali on Monday.

India’s markets regulator fined Yes Bank Ltd. for claiming that riskier bonds it sold to individual investors were as safe as term deposits, Bloomberg News reported.

Thailand's Nok Air has been granted a second and final one-month extension, until 15 May, to submit its rehabilitation plan, Flight Global reported. “The Central Bankruptcy Court has considered and issued a further order approving the extension of the submission period of the rehabilitation plan to 15 May 2021, which is the last extension of time as permitted by law,” the airline said in a 12 April disclosure to the Stock Exchange of Thailand. The airline requested the extension on 7 April, in accordance with Thailand’s Bankruptcy Act.

Australia’s economic recovery is intensifying as a National Australia Bank Ltd. report showed business conditions -- measuring hiring, sales and profits -- climbed to a record high even as the government was withdrawing its JobKeeper wage subsidy, Bloomberg News reported. An index of conditions jumped to 25 points in March from 17 a month earlier, NAB said in a statement Tuesday. The employment index climbed to 16 points from 9, pointing to ongoing strength in hiring, despite the survey being conducted from March 19-31 that includes the end of JobKeeper.

China’s exports rose 30.6% over a year ago in March as global consumer demand strengthened and traders watched for signs of what President Joe Biden might do about reviving tariff war talks with Beijing, the Associated Press reported. Exports rose to $241.1 billion, decelerating from the dramatic 60.6% rebound in the first two months of 2021, customs data showed Tuesday. Imports rose 38.1% over a year ago to $227.3 billion in a sign of reviving Chinese activity.