The Philippine central bank cut its policy rate Thursday as widely expected, against a backdrop of cooling inflation at home and trade turmoil abroad, the Wall Street Journal reported. Bangko Sentral ng Pilipinas lowered its benchmark overnight reverse repurchase rate to 5.50%, Gov. Eli Remolona said. The central bank also reduced its benchmark lending rate to 6.00%. The decision had been expected by most economists, with recent Philippine inflation data cementing the case for a cut. Risks from new U.S. tariffs strengthened that argument.

Vietnamese budget carrier Vietjet said on Thursday it has signed an agreement worth $300 million with AV AirFinance, a partner of investment fund KKR, to fund the expansion of its fleet. Thursday’s announcement confirmed a Reuters report last week on the finance deal done between Vietjet and AV AirFinance during a visit to the U.S. by Deputy Prime Minister Ho Duc Phoc for reciprocal tariff negotiation. The deal value was initially reported at $200 million. The agreement with AV AirFinance is the latest in a string of financing agreements worth $4 billion that have been signed with U.S.

China on Wednesday announced an additional 50% retaliatory tariff on all U.S. imports, bringing the total tariff level to 84%, NPR.org reported. The measures are a response to President Trump's latest round of tariffs, which went into effect overnight, and include a 104% levy on Chinese goods. The Chinese finance ministry says the new charges will take effect at midnight in China, or Wednesday noon Eastern time. "The US's practice of escalating tariffs on China is a mistake on top of a mistake," the ministry said in a statement announcing the fresh round of levies. China calls on the U.S.

The Reserve Bank of India (RBI) lowered its key repo rate on Wednesday for a second consecutive time and changed its monetary policy stance signaling room for more cuts ahead, as it seeks to boost the sluggish economy in the face of fresh U.S. tariffs, Reuters reported. India became the second central bank after the Reserve Bank of New Zealand to cut interest rates since the wide-ranging trade levies were announced. The tariffs have raised the risk of a global slowdown and a U.S.

South Korea on Wednesday announced emergency support measures for its auto sector, seeking to reduce the blow of U.S. President Donald Trump's tariffs on a sector that has seen years of sharply rising exports to the United States, Reuters reported. The measures include financial support for the auto industry as well as tax cuts and subsidies to boost domestic demand, while the government also vowed efforts to negotiate with the U.S. and help expand markets. Trump has announced a 25% tariff on imported cars and light trucks starting on Thursday.

China’s electric vehicle boom is masking lopsided economic gains, with manufacturing hubs that rely on foreign carmakers falling behind cities that are home to hugely popular domestic brands like BYD Co., Bloomberg News reported. No city exhibits how quickly the tide can turn better than Guangzhou, where auto manufacturing accounts for about a quarter of economic output. The capital of Guangdong, China’s wealthiest province, was the country’s biggest car producer for five years running, buoyed by state-owned Guangzhou Automobile Group Co.’s joint ventures with Toyota Motor Corp.

As MG Non-Life Insurance was declared insolvent this week, its ripple effects could now adversely influence the pre-arranged sale of KDB Life to JC Partners, a major shareholder of MG Non-Life, the Korea Times reported. During its regular meeting on Wednesday, the Financial Services Commission (FSC) decided to designate MG Non-Life as an insolvent financial institution, given that its debt exceeded its capital by 113.9 billion won ($92.9 million).

A subsidiary of a Hong Kong conglomerate that is embroiled in U.S.-China tensions over its Panama Canal port assets denied allegations Wednesday that it had failed to pay about $1.2 billion to the Central American country, the Associated Press reported. Panama’s comptroller authority announced on Monday that an audit of Panama Ports Company found irregularities in the renewal of a 25-year port concession in the interoceanic canal. The authority's accusations came the same day as U.S. Defense Secretary Pete Hegseth's arrival in the country to participate in a security conference.

The number of corporate bankruptcies in Japan in fiscal 2024 climbed 12.0% from the previous year to 10,144, topping 10,000 for the first time in 11 years, Tokyo Shoko Research said Tuesday. The annual figure rose for the third consecutive year, the Japan Times reported. The result reflected a surge in the number of bankruptcies due to labor shortages, particularly among small and midsize companies, and rising prices. The number of business failures linked to soaring labor costs and labor shortages increased 1.6 times to 309, the highest since fiscal 2013.

Singapore’s policymakers are wrapping up the public feedback process on proposed changes to its insolvency law, part of a broader effort to enhance its appeal as a hub for corporate restructuring in Asia, The Straits Times reported. A key change would broaden a provision in restructuring plans, known as cross-class cramdowns, to prevent shareholders from dissenting, according to a Ministry of Law report. The proposals would also streamline the process of disposing a debtor’s property or issuing new shares, and recommend building incentives into restructuring managers’ compensation.