Beijing’s softening stance on deleveraging and defaults has helped fuel a mini-revival across Asia’s credit markets, pushing up bond prices in recent weeks and sparking debt issuance, The Wall Street Journal reported. Issuers from China to South Korea and India sold about $9.2 billion in new U.S. dollar bonds during the week ended Aug. 3, the highest weekly tally in Asia excluding Japan since mid-April, according to Thomson Reuters. New deals had nearly ground to a halt in early July over fears of rising defaults among Chinese borrowers.

Noble Group Ltd., the commodity trader seeking to push through a restructuring after losing billions of dollars and defaulting, has filed a claim in Australia against two coal producers for alleged breaches of contractual obligations under a marketing-services agreement, Bloomberg News reported. The Singapore-listed company, which will report another loss later this month, said a unit has filed the claim in the Supreme Court of New South Wales against Yancoal Australia Ltd. and its subsidiary Gloucester Coal Ltd.

Struggling to find well-paid work after arriving in Shanghai as a graduate from a middle-ranked Chinese university, Tom Wang turned to another source to fund his spending: credit cards. “Using credit cards did not feel like spending money, and the debt grew and grew,” said the 26-year-old, whose starting salary of Rmb3,000 ($470) a month could not cover rent and the consumption habits he called “irrational”, such as buying the latest smartphone, the Financial Times reported.

For Jaguar Land Rover, the only way out of its deep pothole may be to get a tow from China. The luxury unit of Tata Motors Ltd. posted dismal fiscal first-quarter results Tuesday, recording an unexpected pretax loss of 264 million pounds ($346 million) after running into trouble in many of its main markets, Bloomberg News reported. JLR, usually the profit engine for Tata, effectively wiped out a sharp turnaround at the rest of the Indian company’s business. About half the loss was because of China, where lower margins and declining prices weighed on performance.

Japanese 10-year bond yields had their biggest one-day jump in two years on Wednesday as traders wasted no time in testing the Bank of Japan’s resolve to loosen its target range for the debt benchmark, the Financial Times reported. The yield on the benchmark 10-year JGB jumped 6 basis points to 0.12 per cent, a day after the BoJ tweaked its vast quantitative easing programme. The central bank doubled the level it will permit 10-year yields to climb from 0.1 to 0.2 per cent.

India's government seems intent on abandoning good ideas for dealing with the country's banking crisis and encouraging bad ones, a Bloomberg View reported. Perhaps that shouldn't be surprising, given that the bureaucrats don't yet seem to have grappled with the real nature of the problem. The latest terrible proposal for dealing with the bad loans weighing down India's state-owned banks, which control more than two-thirds of deposits, is to create a "bad bank" -- an asset-management company that would take stressed assets off their balance sheets.

China’s central bank has started actively encouraging banks to extend more credit by taking a softer stance on loan quotas, people familiar with the matter said, as authorities ratchet up efforts to bolster a cooling economy, Bloomberg News reported. The People’s Bank of China has delivered the message via so-called window guidance, said the people, who asked not to be named discussing private information. The central bank hasn’t provided specific targets, but it indicated a willingness to be more flexible on banks’ government-imposed lending caps, the people said.

Imran Khan, Pakistan’s former cricket captain and newly elected prime minister, is on a sticky wicket. His victory in last week’s polls was secured in part on a pledge to ramp up spending on public services. Yet the coffers are empty and a balance of payments crisis looms, the Financial Times reported. Instead of the “Islamic welfare state” he hoped to create, his aides are forced to ponder the prospect of an IMF deal. Even that safety net may not be at hand.

South Korea's Korea Electric Power Corp (KEPCO) has lost its preferred bidder status to buy Toshiba's NuGen nuclear project in Britain as Toshiba looks at other alternatives, the Japanese company said on Tuesday. The project in Moorside, northwest England, was expected to provide around 7 percent of Britain's electricity when built, but has faced setbacks after Toshiba's nuclear arm Westinghouse went bankrupt last year, the International New York Times reported on a Reuters story.

As the plunging lira weighs on Turkish borrowers, the nation’s banks are proposing a quicker way of resolving loans that turn sour, Bloomberg News reported. In what would be the first such codified rules, the Banks Association of Turkey, which represents non-Islamic lenders, drew up a framework of principles for restructuring loans that exceed 50 million lira ($10.2 million), according to a copy of the document obtained by Bloomberg News. TBB, as the industry group is known, declined to comment.