Ugandan conglomerate Madhvani Group is in talks with Cerberus Capital Management LP for a private credit loan of about $190 million to fund its acquisition of distressed Indian glass bottle maker Hindustan National Glass & Industries Ltd, Bloomberg News reported. The parties are discussing a bilateral private credit loan with a tenor of about three-years. Discussions are on-going and details are subject to change.

Australia's central bank board judged further policy easing would likely be needed over the coming year when it cut rates this month, and the pace could be gradual or quicker depending on the flow of economic data, Reuters reported. Minutes of its August 11-12 policy meeting showed the Reserve Bank of Australia saw a strong case for a quarter-point reduction in the cash rate to 3.6% as data had shown inflation was heading towards the mid-point of its 2-3% target band.

The Enforcement Directorate (ED) has unearthed a massive admission racket in which thousands of students secured MBBS seats under the Non-Resident Indian (NRI) quota using forged documents, according to reports by NDTV and The Times of India, GulfNews.com reported. The investigation, assisted by the Ministry of External Affairs (MEA) and Indian embassies abroad, revealed that private medical colleges across states offered around 18,000 MBBS admissions on the strength of fraudulent NRI certificates, The Times of India said.

A top South Korean official said on Monday that the U.S. and South Korea had decided to establish a non-binding agreement to define the operation and structure of $350 billion in investment funds agreed as part of a July trade deal, Reuters reported. Seoul agreed with Washington last month on a trade deal to cut U.S. tariffs in exchange for pledging the investments, though differences emerged on how the sides interpreted details of the plan, including how profits would be distributed.

China Evergrande, a real estate developer that once represented the pinnacle of China’s economic prowess, was formally removed from the Hong Kong Stock Exchange on Monday, the New York Times reported. Evergrande, which made its financial debut in Hong Kong 16 years ago, had once been the fastest growing property developer in a country brimming with promise of profits for investors. It will be remembered as one of the world’s most indebted companies whose collapse brought China’s financial system to the brink.

Evergrande’s collapse, with $300 billion in debt, mirrors the slow and painful unwinding of China’s property sector, the New York Times reported. Government policies staved off a sudden crash, and instead delivered a grinding slowdown. The housing downturn has not delivered the devastating shock that the United States suffered in the 2008 financial crisis, but it has been hanging over the economy for five years with no end in sight.

Appellate tribunal NCLAT has dismissed the plea against the acquisition of Vadraj Cement by Nirma group cement business Nuvoco Vistas Corporation during an insolvency resolution process, the Economic Times of India reported. The Delhi-based principal bench of NCLAT has upheld the previous order passed by the Mumbai bench of the National Company Law Tribunal (NCLT), which on April 1, 2025, approved Nuvoco Vistas's plan for Vadraj Cement that includes an upfront payment of Rs 1,800 crore.

Japan's Finance Minister Katsunobu Kato said on Monday that cryptocurrencies can be part of a diversified portfolio, CoinDesk.com reported. "Crypto assets have risks surrounding high volatility, but through building an appropriate investment environment, they could be part of diversified investments," Kato said. The minister added that the government has been trying to ensure that innovation isn't stifled by excessive regulation.

India’s embassy in Washington has hired a lobbying firm with close ties to the Trump administration and a history of advocating for foreign entities targeted by the U.S., just before 50% tariffs take effect on exports from the South Asian country, Bloomberg News reported. The embassy is paying $75,000 per month to Mercury Public Affairs LLC to provide government relations, media relations and other services, according to an Aug. 18 filing detailing the agreement. White House Chief of Staff Susie Wiles is a former co-chair of Mercury.