Hong Kong High Court Judge Linda Chan said that she would like to see more Chinese cities allowed to recognize the city’s insolvency proceedings under a pilot program, Bloomberg News reported. In 2021, courts in Shanghai, Shenzhen and Xiamen were allowed to recognize insolvency proceedings in Hong Kong. In practice, the Hong Kong High Court has assisted insolvency administrators appointed by mainland China courts to collect assets and investigate related corporate affairs in Hong Kong, according to Chan.

The bankruptcy court in Mumbai has admitted AGS Transact Technologies for corporate insolvency resolution process (CIRP) on an application filed by the listed payment solution company's operational creditor Securitrans India Pvt Ltd., the Economic Times of India reported. The National Company Law Tribunal (NCLT) has also appointed Brijendra Kumar Mishra as the interim resolution professional of the company. AGS Transact is a provider of an integrated omnichannel payment solution across diverse sectors in India and in the manufacturing and supply of ATMs.

Bollywood actor Salman Khan has approached appellate tribunal NCLAT, challenging an NCLT order which had dismissed his plea to initiate insolvency proceedings against Jerai Fitness towards an unpaid amount of Rs 7.24 crore, the Economic Times of India reported. This dispute is related to 'BEING STRONG', a fitness equipment brand founded by Salman Khan, in collaboration with Jerai Fitness. The appeal filed by Khan was listed before a two-member bench of the National Company Law Appellate Tribunal (NCLAT) last week. However, it was adjourned on the request of his counsel.

Future Consumer Ltd, part of the debt-ridden Future Group, is facing an insolvency plea filed by Resurgent India Special Situations Fund before the NCLT, claiming defaults, the Economic Times of India reported. The company, already grappling with a significant liquidity crunch and defaults on loan repayments totaling Rs 558.73 crore, acknowledged the filing and stated it would make appropriate representations. Future Consumer Ltd, the FMCG company owned by debt-ridden Future Group, faces an insolvency plea filed before the National Company Law Tribunal (NCLT).

The Philippine central bank lowered its policy rate for a third consecutive time to bolster the economy, as low inflation provides room to keep supporting growth, the Wall Street Journal reported. Bangko Sentral ng Pilipinas cut its benchmark overnight reverse repurchase rate by 25 basis points to 5.00%. It also lowered its benchmark lending rate, to 5.50% from 5.75%. A backdrop of benign price pressure gives policymakers the space to keep easing monetary settings to prop up weak growth.

The Philippine central bank lowered its policy rate for a third consecutive time to bolster the economy, as low inflation provides room to keep supporting growth, the Wall Street Journal reported. Bangko Sentral ng Pilipinas cut its benchmark overnight reverse repurchase rate by 25 basis points to 5.00%. It also lowered its benchmark lending rate, to 5.50% from 5.75%. A backdrop of benign price pressure gives policymakers the space to keep easing monetary settings to prop up weak growth.

India has had less than a month to adjust to the fact that President Trump deemed it “not a good trading partner” and deserving of punishment. After months of hopeful negotiations over the details about soybeans and trade surpluses, on July 30 India found out that it was getting stuck with a 25 percent rate. A week later, the other shoe dropped: An additional 25 percent penalty would be applied because India buys Russian crude oil, the New York Times reported. Those tariffs took full effect on Wednesday.

Mexico's government is set to raise tariffs on Chinese imports, including cars, textiles and plastics, as part of its 2026 budget proposal next month, Bloomberg News reported. The tariff increases may also target other Asian countries, according to sources.

South Korea's central bank expects a "significant" economic shock from higher U.S. tariffs even after a trade deal, it said on Thursday, citing comparably steeper tariff hikes versus rival exporters and high exposure to product-specific duties, Reuters reported. "Despite a comparably successful negotiation, the average tariff rate the U.S. imposes on our country rose greatly to around 15%, from zero tariffs under the previous Korea-U.S. Free Trade Agreement," the Bank of Korea (BOK) said in a report.

China's two largest airlines narrowed their first-half losses but remained firmly in the red as a capacity surplus kept fares low, earnings reports released on Thursday showed, underscoring the fragility of the sector's post-pandemic recovery, Reuters reported. Flagship carrier Air China reported a net loss of 1.8 billion yuan ($252 million) for the six months to June, 35% lower than the loss of 2.78 billion yuan a year earlier. Guangzhou-based China Southern Airlines recorded a loss of 1.5 billion yuan, 64% less than the 4.21 billion yuan loss in the same period in 2024.