The Supreme Court on Friday suggested major reforms in the Insolvency and Bankruptcy Code "to restore faith in the regulatory and insolvency framework,” even as it urged the government to come up with a revival fund to provide financing for stressed real estate projects undergoing insolvency proceedings, the Economic Times of India reported.
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Resources Per Country
- Afghanistan
- Armenia
- Australia
- Azerbaijan
- Bangladesh
- Brunei
- Cambodia
- China
- Cook Islands
- Cyprus
- Fiji
- Georgia
- Hong Kong
- India
- Indonesia
- Japan
- Kazakhstan
- Kyrgyzstan
- Laos
- Macau
- Malaysia
- Maldives
- Micronesia
- Mongolia
- Myanmar
- Nepal
- New Zealand
- North Korea
- Pakistan
- Papua New Guinea
- Philippines
- Singapore
- South Korea
- Sri Lanka
- Taiwan
- Tajikistan
- Thailand
- Turkey
- Uzbekistan
- Vanuatu
- Vietnam
Beijing has warned Mexico to think twice before moving ahead with a plan to raise tariffs that could hurt Chinese automakers, saying it would retaliate against the measure, the Wall Street Journal reported. “At a time when the U.S.’s abuse of tariffs has sparked widespread global opposition, countries should strengthen communication and coordination to jointly safeguard free trade and multilateralism, and must not sacrifice the interests of third parties due to coercion,” a Chinese commerce ministry spokesperson said in a statement released late Thursday.
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China's central bank said on Friday it plans to better regulate cross-border yuan financing between banks, and promote offshore use of the Chinese currency, Reuters reported. China is ramping up the pace of yuan globalisation as Beijing seeks to reduce its reliance on the U.S. dollar amid simmering trade and geopolitical tensions with Washington. The People's Bank of China (PBOC) said in draft rules that it will introduce a counter-cyclical mechanism to manage cross-border, interbank yuan financing.
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New Zealand home prices will rise slower than previously expected through 2027 as a fragile economy weighs on buyer confidence despite aggressive monetary policy easing, a Reuters poll of property analysts showed. To revive an economy that slipped into recession last year the Reserve Bank of New Zealand (RBNZ) has slashed interest rates by 250 basis points since mid-2024 to 3.00% at its August meeting and also surprised markets by signalling more cuts by year-end. However, lower rates haven't sparked a rebound in housing demand like in neighbouring Australia.
South Korea's top security adviser Wi Sung-lac said on Friday that the government would talk to U.S. officials in order to provide clear visa guidelines for Korean companies operating there and to ease concerns for workers remaining in the United States, Reuters reported. Wi made the comments as the administration in Seoul seeks to avoid a repeat of a recent U.S. immigration raid on a battery factory that led to the arrest of hundreds of Korean workers.
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IDBI Bank has once again dragged Zee Entertainment Enterprises to the insolvency court. It has filed a fresh application before the Mumbai bench of the company law tribunal to initiate insolvency proceedings against Zee for a default of Rs 225 crore, the Times of India reported. Zee has disputed the bank's claim, terming it meritless and an abuse of the legal process.
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Turkey’s central bank lowered borrowing costs for a second meeting in a row, noting that inflation continued to trend lower, the Wall Street Journal reported. The central bank said Thursday that it would lower its benchmark rate to 40.5% from 43%. It had previously cut its key rate to 43% from 46% in late July. “The underlying trend of inflation slowed down in August,” the central bank said.
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Indonesia’s newly minted finance minister has hit the ground running, promising to inject about $12 billion into the economy to support growth, the Wall Street Journal reported. His comments helped calm stock markets after recent volatility, with the benchmark Jakarta Composite Index up as much as 1.6% on Thursday as investors welcomed the efforts to increase liquidity and revive growth.
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In the span of 24 hours last week, President Trump managed to roil both South Korea and Japan, two longtime allies that less than two months earlier had said they would invest a combined nearly $1 trillion in the United States in exchange for lower tariffs, the New York Times reported. Last Thursday, U.S. immigration officials raided the construction site of a major Hyundai-LG plant in Georgia, a flagship project by two of South Korea’s most prominent companies.
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China will roll out a three-month nationwide campaign to curb online misconduct in the auto industry, aiming to foster fairer competition in the country’s rapidly growing new energy vehicle (NEV) sector, according to a notice released on Wednesday by the Ministry of Industry and Information Technology, China Daily reported.
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