Do Kwon, the South Korean cryptocurrency entrepreneur behind two digital currencies that lost an estimated $40 billion in 2022, is set to be sentenced in New York federal court on Thursday for fraud and conspiracy, Reuters reported. Kwon, 34, who co-founded Singapore-based Terraform Labs and developed the TerraUSD and Luna currencies, previously pleaded guilty and admitted to misleading investors about a coin that was supposed to maintain a steady price during periods of crypto market volatility.

Mexico's decision to raise tariffs as high as 50% will affect $1 billion worth of shipments from major Indian car exporters, including Volkswagen and Hyundai, despite industry lobbying to persuade New Delhi to prevent such a move, according to two sources and a letter from an industry group reviewed by Reuters. Mexican President Claudia Sheinbaum's government approved on Wednesday raising import tariffs next year on hundreds of items from countries it does not have trade agreements with, including China and India, to protect local jobs and manufacturing. But the move also comes amid U.S.

Japanese companies sold a record amount of yen-denominated bonds targeting individuals this year, in the latest sign that sticky inflation is causing households to shift more of their $14.3 trillion of financial assets into riskier investments, Bloomberg News reported. The note sales climbed to about ¥2.76 trillion ($17.6 billion) as of Dec. 10, surpassing last year’s full-year record of ¥2.73 trillion, according to compiled data.

Japanese companies said strained diplomatic relations with China are their primary concern as they head into 2026, followed closely by U.S. trade policies, a Reuters survey showed on Thursday, Reuters reported. Ties between the Asian neighbours have deteriorated since Japanese Prime Minister Sanae Takaichi told parliament last month that a hypothetical Chinese attack on democratically governed Taiwan could trigger a Japanese military response.

The International Monetary Fund on Wednesday urged China to speed up structural reform, as global pressure mounts on the ​world's second-largest economy to shift to a consumption-led growth model and rein ‌in debt-driven investment and exports, Reuters reported. The manufacturing juggernaut has posted a $1 trillion trade surplus for the first time ‌and is set to drive up to 40% of global growth in 2025. This has sparked criticism that China's slowing economy relies on dominating a larger share of global trade and flooding emerging markets with cheap goods diverted from the U.S.

A U.S. trade agreement reached with Indonesia in July is at risk of collapsing because Jakarta has backtracked on several commitments it made as part of the deal, a U.S. official said on Tuesday, Reuters reported. "They're reneging on what we agreed to in July," said the official, who spoke on condition of anonymity, giving no details about which specific commitments Indonesia was now questioning. Asked about the comments, Indonesian officials said on Wednesday that the talks between two sides are still ongoing, with no specific issues arising during negotiations.

The head of the South Korean unit of the e-commerce company Coupang resigned on Wednesday, as the fallout from a data breach affecting nearly 34 million users of the online shopping site intensifies, the New York Times reported. Park Dae-jun, who became the sole chief executive of Coupang’s business in South Korea earlier this year, said in a statement released by the company that he was resigning to accept “grave responsibility” over the data leak, which was announced last month.

Billionaire Gautam Adani–promoted Adani Enterprises Ltd on Monday submitted its resolution plan of over ₹15,000 crore for bankrupt Jaiprakash Associates Ltd (JAL) before the Allahabad Bench of the National Company Law Tribunal (NCLT), seeking final approval under the Insolvency and Bankruptcy Code (IBC), LiveMint.com reported. The plan was placed before the bench by resolution professional Bhuvan Madan, following its approval by the Committee of Creditors (CoC) in November.

The International Monetary Fund on Tuesday approved the release of $1.2 billion to Pakistan, giving the cash-strapped country a fresh boost as it works to recover from one of its worst economic crises in years, the Associated Press reported. The IMF in a statement said its executive board completed two reviews of Pakistan’s economic programs, clearing about $1 billion under its main loan facility and another $200 million from a separate climate-focused program. With the latest approval, Pakistan has received about $3.3 billion from the IMF since last year.

Higher tariffs have dealt a “severe blow” to the world economy, China's premier said Tuesday, even as China’s own trade surplus has surged past $1 trillion, the Associated Press reported. Premier Li Qiang made the remarks at a forum of top international organizations held in Beijing while top Chinese leaders are attending an annual economic planning meeting.