An audit of a key energy group sold by troubled state investment fund 1Malaysia Development Bhd. to a Chinese state-owned nuclear-power company flagged deep uncertainty over the company’s viability. Notes from auditor Deloitte in the 140-page financial accounts of Edra Global Energy Bhd.

$2,411,412,137,427. That figure — $2.4 trillion for those with an untrained eye for very large numbers — is in the same ballpark as the annual economic output of France. It is also exactly the amount that people around the world claim they lost when Mt. Gox, the Tokyo-based virtual currency exchange, collapsed into bankruptcy in 2014, after huge, unexplained losses of the volatile digital currency Bitcoin, the International New York Times reported. As with most of the people who lost money with Bernard L.

Indian Prime Minister Narendra Modi took on critics who accuse him of failing to pursue “big bang” liberalization measures to revamp his country’s economy, saying he has set a path for accelerated growth that India’s states now need to help navigate. In an interview in his residence compound Wednesday, on the eve of his second anniversary in office, Mr. Modi said he had opened up more of the economy to foreign investment and made changes to curb corruption, fill gaps in rural infrastructure and make it easier to do business. “I have actually undertaken the maximum reforms,” Mr. Modi said.

A four-month rally in offshore yuan bonds has helped issuance almost double this quarter. Further gains may depend on whether China can limit currency losses and defaults, Bloomberg News reported. Offerings of yuan debt outside China jumped to 23.8 billion yuan ($3.6 billion), from 12.9 billion yuan in the first quarter that was the lowest since 2013, data compiled by Bloomberg show. The yield premium for the notes versus onshore peers has narrowed as the yuan rallied in Hong Kong to erase this year’s declines.

Troubled Australian steel group Arrium Ltd, which collapsed last month after creditors rejected a private equity bailout, will hire a global investment bank to advise on the sale of its profitable Moly-Cop mining supplies unit, the firm's administrator said on Monday. Moly-Cop, which makes steel balls to grind ore, among other items, operates mostly in the United States and Latin America, and had been excluded until now from Arrium's restructuring after a private equity sale collapsed last year.

Kaisa Group, the Shenzhen-based property developer which defaulted on its US dollar-denominated bonds, has reached a milestone in its yearlong debt restructuring negotiations after a plan was formally approved by bondholders, the South China Morning Post reported. In a filing to the Hong Kong stock exchange on Sunday, the company said its offshore debt restructuring plan was “duly passed with the approval of the requisite majority of the Scheme Creditors,” at scheme meetings held by courts in Hong Kong and the Cayman Islands on May 20.

Beijing has stepped up its battle against bad debt in China’s banking system, with a state-led debt-for-equity scheme surging in value by about $100bn in the past two months alone, the Financial Times reported. The government-led programme, which forces banks to write off bad debt in exchange for equity in ailing companies, soared in value to hit more than $220bn by the end of April, up from about $120bn at the start of March, according to data from Wind Information.

Chinese banks are justifiably on investors' radar for shuffling some of their more wobbly credit risk into wealth management products. However, when it comes to misery camped off balance sheet, the People's Republic has company elsewhere in Asia: More than 11 percent of the bad assets reported by Singapore's largest lender aren't loans at all but contingent liabilities, Bloomberg News reported. In just one year, the difference between ``nonperforming assets'' and ``nonperforming loans'' at DBS Group Holdings has more than quadrupled to S$355 million ($257 million).

The container shipping industry, a vital link in the world’s supply of manufactured goods, is suffering what could well turn out to be the deepest and longest downturn in its 60-year history, the Financial Times reported. Container shipping lines have made a series of investments in new, giant vessels, and this glut of capacity has sent freight rates tumbling. The Shanghai Containerised Freight Index — one of the few public sources of information on what lines are charging to ship a container — last month reached the lowest level since its inception in 1998.

Increasing prices are a big deal in Japan. The country’s sluggish economy means that the cost of most things has not risen in 20 years, and almost any increase makes headlines, the International New York Times reported. Consumer prices are a painful economic headache for Japan. The country’s officials have been trying to break this stubborn pattern of deflation by pumping money into the economy and bolstering public spending.