A Chinese program providing state guarantees to developer bonds will be put to the test this week, when payments come due from one of the most indebted builders, Bloomberg News reported. The sum owed by Country Garden Holdings Co. is relatively small — 65.95 million yuan ($9.1 million) for two interest payments. Both notes are guaranteed by China Bond Insurance Co., a state-owned credit-support provider at the heart of a program introduced by authorities in August 2022 to help private developers avoid liquidity crunches.

One of China’s most-watched developers has told some investors that it readied cash for an upcoming yuan bond payment, a move that may boost a firm that’s faced concern about its liquidity amid a broader property debt crisis. State-backed builder China Vanke Co. told some investors recently that it has readied cash to repay its 1.45 billion yuan ($201 million) note due May 25, according to people familiar with the matter.

IndusInd International Holdings (IIHL) has set its sights on a new Rs 4.2 lakh crore target that it plans to fulfil by 2030, the Economic Times of India reported. Under the new plan, IIHL is looking to set up a banking, financial services, and insurance portfolio worth $50 billion (Rs 4.2 lakh crore) by 2030. This is including its investment in IndusInd Bank, apart from the new businesses under Reliance Capital, which IIHL won in insolvency proceedings.

Japan’s labor shortage remains a serious issue with 51% of companies reporting that they did not have enough employees, according to survey results released last week, the Japan Times reported. As the labor market continues to shrink, companies have raised worsening labor shortages as one of the biggest concerns that could cause their performances to decline, with 313 companies having gone out of business in the fiscal year of 2023 as a result.

The Reserve Bank of New Zealand has limited scope to cut interest rates this year and shouldn’t ease policy until it’s sure inflation will return to target, according to the Organisation for Economic Cooperation and Development, Bloomberg News reported. "Inflation is likely to be persistent,” the OECD said in its Economic Surveys: New Zealand 2024 report published Monday in Wellington.

Hong Kong’s securities regulator has started criminal proceedings against hedge fund management firm Segantii Capital Management, the firm’s founder and a former trader over insider dealing, the Wall Street Journal reported. The city’s Securities and Futures Commission said Thursday that it had begun proceedings against Segantii founder Simon Sadler and Daniel LaRocca, a former trader for the firm. It said no plea was taken by defendants in an appearance before a Hong Kong court, with the case subsequently adjourned to June 12.

The National Company Law Tribunal (NCLT) approved Shree Naman Developers' acquisition of real estate developer Radius Infra Holdings with a resolution plan that will help settle 81% of secured financial debt of the company, the Economic Times of India reported. The financially distressed Radius Infra Holdings was admitted into the corporate insolvency resolution process (CIRP) in May 2022. The defunct builder had admitted liabilities of about ₹1,050 crore, while the successful resolution applicant agreed to pay ₹180 crore to acquire the company.

Turkish annual consumer price inflation climbed to 69.8% in April, official data showed on Friday, a bit below expectations but the highest since late-2022 on strong rises in education, restaurants and hotels prices, Reuters reported. Commenting on the figures, Finance Minister Mehmet Simsek said April's month-on-month inflation, which was 3.18%, was in line with expectations. In March it stood at 3.16%. "After annual inflation reaches its peak in May, it will begin to decline sharply in line with our predictions," Simsek said on social media platform X.

Japan’s finance minister declined to confirm whether Japan stepped into the market to support the yen with intervention earlier this week, keeping traders guessing, Bloomberg News reported. “I’m not commenting on it,” Finance Minister Shunichi Suzuki said in response to a question about whether Japan intervened earlier this week. Suzuki was speaking at a press conference in Tbilisi, Georgia, where he attended a series of international gatherings including the Asian Development Bank’s annual meeting.