NCLT Junks Insolvency Process Against Logix in Noida

The National Company Law Tribunal (NCLT) has terminated the corporate insolvency resolution process (CIRP) against Logix Infrastructure Pvt Ltd — the developer of Blossom County in Sector 137 — citing "fraudulent intent" in the petition, the Times of India reported. In its Feb 6 order, the tribunal asked the resolution professional (RP) to allow Logix Infrastructure's former directors to take back control of the company's management.
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Former KFC Operator in Turkey Files for Bankruptcy

Bankruptcy proceedings at Turkey's IS Gida have resulted in the closure of 537 restaurants and the loss of 7,000 jobs IS Gida, the former operator of the KFC and Pizza Hut franchises in Turkey, has filed for bankruptcy after debt reached TR7.7 billion ($214 million), AGBI.com reported. The filing comes a month after the US-based owner of KFC and Pizza Hut terminated its franchise agreements with the Turkish company, state-run Anadolu Agency (AA) reported.

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United States
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China Consumer Inflation Picks Up as Holiday Boosts Spending

China’s consumer inflation accelerated for the first time since August, caused by a burst of household spending around the Lunar New Year holiday even as deflationary pressures persist, Bloomberg News reported. The consumer price index rose 0.5% in January from a year earlier, the National Bureau of Statistics said Sunday, compared with a 0.1% gain in the previous month. A temporary spending boom during the eight-day break briefly masked the extent of the deflationary challenge facing the world’s second-biggest economy.
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Hong Kong to Challenge U.S. Tariffs on Imports in WTO Complaint

Hong Kong will file a complaint against the U.S.’s additional 10% tariff with the World Trade Organization, claiming the levies violate WTO rules, the Wall Street Journal reported. In a statement released Friday, a spokesman for the Hong Kong Special Administrative Region (HKSAR) Government described the tariffs as “unreasonable measures” and “grossly inconsistent with the relevant WTO rules.” The U.S. measures “ignore our status as a separate customs territory as stipulated in Article 116 of the Basic Law,” and recognized by the WTO, the spokesman said.
Hong Kong
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India Ramps Up Stimulus to Spur Faltering Economy

Prime Minister Narendra Modi is counting on a two-pronged stimulus of tax and interest rate cuts to turn around India’s slowing economy, but investors may need more convincing that the measures will be enough, Bloomberg News reported. The decision by India’s central bank on Friday to reduce its key rate for the first time in five years comes less than a week after Modi’s government unveiled historic tax cuts in its federal budget. Taken together, the measures underscore the urgency with which Modi’s government is moving to address the growth slowdown gripping the economy.
India
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