NCLT Admits Future Group Affiliate Acute Retail Infra Under the insolvency Resolution Process

The bankruptcy court on Monday admitted Future Group’s affiliate Acute Retail Infra Pvt Ltd for Corporate Insolvency Resolution Process (CIRP) in an application filed by Avendus Finance Pvt Ltd after the company defaulted on its dues of over Rs 65 crore, the Economic Times of India reported. The Mumbai bench of the National Company Law Tribunal (NCLT) while admitting the company has also appointed Ramesh M. Shetty as interim resolution professional (IRP) of the company.
India
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China's Central Bank Unveils Most Aggressive Stimulus Since Pandemic

China's central bank on Tuesday unveiled its biggest stimulus since the pandemic to pull the economy out of its deflationary funk and back towards the government's growth target, but analysts warned more fiscal help was vital to hit these goals, Reuters reported. The broader-than-expected package offering more funding and interest rate cuts marks the latest attempt by policymakers to restore confidence in the world's second-largest economy after a slew of disappointing data raised concerns of a prolonged structural slowdown.

China
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BOJ Governor’s Cautious Comments Damp Speculation of October Hike

Bank of Japan Gov. Kazuo Ueda reiterated his cautious tone on Tuesday and said the central bank can wait to act until economic uncertainties become clearer, dampening speculation over another rate increase in October, the Wall Street Journal reported. “In making policy decisions, the bank will need to carefully assess factors such as developments in financial and capital markets at home and abroad and the situation in overseas economies underlying these developments. We have enough time to do so,” Ueda said in a speech to business leaders in Osaka.
Japan
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IMF to Work With Leftist Sri Lanka Leader on $3 Billion Loan

The International Monetary Fund said it’s looking forward to working with Sri Lanka’s newly elected leftist president, including on the latest review of the country’s $3 billion bailout package, Bloomberg News reported. “We will discuss the timing of the third review of the IMF-supported program with the new administration as soon as practicable,” the organization said in a statement after President Anura Kumara Dissanayake was sworn into office on Monday.
Sri Lanka
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Australia’s Central Bank Keeps Rates on Hold, Defying Global Trend

Australia’s central bank kept interest rates steady on Tuesday, deepening a split with global counterparts including the Federal Reserve that are loosening policy as they grow increasingly confident that inflation is under control, the Wall Street Journal reported. The Reserve Bank of Australia’s decision to hold the official cash rate at 4.35%, which was widely expected by economists, reveals the stark choice facing policymakers who continue to worry about price pressures that are lessening elsewhere in the world.
Australia
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