India and China have been hit by a surge in consumer prices that, together with a slowdown in growth, has sparked fears of “stagflation” in the world’s two most populous countries, the Financial Times reported. If the Asian powerhouses were to be overtaken by the phenomenon — rising prices in a stagnant economy — their slowing economies would pose a grave threat to global growth. The prospect of stagflation has haunted Beijing for the past six months. China’s economic growth is at a 29-year low and consumer price inflation remains above 4 per cent.

Indonesian authorities are weighing the induction of a strategic investor into a unit of the nation’s oldest insurer that’s on the brink of collapse after alleged fund mismanagement left a $2 billion hole in its books, Bloomberg News reported. PT Asuransi Jiwasraya has submitted a restructuring proposal to the Financial Services Authority that includes the stake sale in unit PT Jiwasraya Putra and securing financial assistance from a planned holding company for state insurers, according to Riswinandi, commissioner for non-banking financial industry at the authority, known as OJK.

When John Zhao sealed the £900m takeover of the UK’s PizzaExpress in 2014 he burnished his reputation as a pioneer in China’s private equity industry, the Financial Times reported. Two years later Hony Capital, his buyout firm, ploughed money into WeWork as the New York shared-office provider set its sights on an aggressive expansion in China. Both deals shared a simple premise: take well-known western brands to China and they will flourish.

Two Indiabulls Group entities have moved the NCLT against IDBI Trusteeship Ltd. to recover dues against loans assigned to them by Dewan Housing Finance Ltd. DHFL, a non-banking finance company, had entered into an arrangement for assignment of loans with Indiabulls Commercial Credit Ltd. and Indiabulls Housing Finance Ltd. for a consideration, BloombergQuint reported. As per the arrangement, the Indiabulls entities became assignee of the loans and DHFL ceased to hold any rights in such loans after the assignment.

Turkish conglomerate Cengiz Holding is prepared to bid for British Steel if the planned sale of the UK company to Jingye collapses, adding to pressure on the Chinese group to finalise the deal in coming weeks, the Financial Times reported. “We are watching developments closely and are ready to make a bid for the whole of British Steel,” said Omer Mafa, chief executive of Cengiz, in a statement on Sunday.

The national company law appellate tribunal (NCLAT) has halted insolvency proceedings of Gurgaon-based Raheja developers after the realtor approached the court claiming it had been fraudulently dragged into bankruptcy by two home buyers, The Economic Times reported. Raheja was admitted for insolvency proceedings in August 2019 by the National Company Law Tribunal (NCLT) which held the company in default of its obligations to two home buyers who at the time had approached the tribunal claiming delay in delivery of flats.

The Chinese group buying British Steel has reached an agreement with trade unions over its rescue of the failed manufacturer, as it races to wrap up a takeover by the end of next month, the Financial Times reported. Executives from Jingye and union officials have reached an understanding for the basis of new employment contracts and other aspects of a turnround plan, three people with knowledge of the discussions said.

Deutsche Bank AG and a Singapore based hedge fund bought more debt of an embattled Indian shadow lender, highlighting the growing foreign interest in the discounted assets of the financier at the center of a credit crisis, Bloomberg News reported. Deutsche Bank has almost doubled the debt it holds of Altico Capital India Ltd. to 3 billion rupees ($42.1 million) in the last four months, while Singapore-based Broad Peak Investment Advisers Ltd. has acquired debt of about 1 billion rupees, people familiar with the matter said.

While fears over coronavirus continue to spread in China (and just now, in Taiwan), there’s news of another ailment watchers of the People’s Republic have been concerned about for the past decade: corporate debt, the Financial Times reported in a commentary…Chinese property giant Evergrande Group is paying as much as 12 per cent in its latest overseas bond issuance to raise $2 billion for debt repayment.

Australia’s Downer EDI cut its annual profit forecast on Thursday amid a surge in costs at its loss-making construction contracts, sending the company’s shares sharply lower to mark their worst session in nearly a decade, Reuters reported. The revised outlook comes amid weak global business investment and as Australia’s economy stutters along with sluggish wage growth and high consumer debt.