India’s inflation accelerated to a four-month high as food prices climbed, justifying the central bank’s caution in keeping interest rates higher for longer, Bloomberg News reported. The consumer price index rose 5.69% in December from a year earlier, statistics ministry data showed Friday. That’s lower with the 5.88% median estimate in a Bloomberg survey of economists and compares with a 5.55% reading in November.

Jindal Power has proposed to top a bid by Adani Power (ADAN.NS), led by billionaire Gautam Adani, for a thermal power plant, two sources with direct knowledge of the matter said, as India looks to drum up investment in coal-fired power, Reuters reported. The tussle for the 1,980-megawatt plant in central India, ensnared in insolvency proceedings, comes after the power minister called last November for more private investment to meet a dramatic rise in electricity demand.

Pakistan won final approval for the disbursement of about $700 million in aid from the International Monetary Fund, vital support for the embattled South Asian economy ahead of elections next month, Bloomberg News reported. The IMF’s executive board approved the loan, the Washington-based lender said in a statement on Thursday. The nation’s dollar bonds rallied, posting the top five gains in emerging markets on Friday. The 2026 notes gained 1.5 cents to 71.6 cents on the dollar, extending Thursday’s 3.1 cent rally.

Creditors to Gayatri Projects (GPL), promoted by former Rajya Sabha MP T Subbarami Reddy, have voted to initiate liquidation proceedings against the company after rejecting the only bid from private equity fund Mark AB Capital Investment LLC, the Economic Times of India reported. Mark AB was offering a total of ₹650 crore, of which only ₹50 crore was upfront cash, ET had reported in October. It was the only serious offer lenders had received, which has now been rejected because of its low value.

State-owned lenders will soon evaluate the performance of legal firms engaged by them for insolvency and bankruptcy cases, the Economic Times of India reported. The move comes after government expressed concerns over large haircuts and delays in resolution under the Insolvency & Bankruptcy Code and directed lenders to build an effective framework for monitoring the progress of legal processes. Since the roll out of IBC in 2016, creditors have recovered 32.6% of their admitted claims against large, stressed firms.

China Aoyuan Group Ltd. is standing by for a pivotal Hong Kong court decision this week on its restructuring plan, a ruling that may accelerate the end of its tussles with creditors over $6 billion of offshore debt, Bloomberg News reported. After a two-day trial over a creditor’s objection to the offshore plan offered by the defaulted developer ended earlier this week, Judge Jonathan Harris said he will deliver his decision on Thursday.

Turkey's crypto asset regulations, expected to bring licensing and operating standards to trading platforms, are at the final stage, Finance Minister Mehmet Simsek said on Wednesday, Reuters reported. The rules are aimed at reducing the risk of trading crypto assets as well as helping the country to be taken off an international financial crime watchdog "grey list", Simsek told the state-owned Anadolu news agency. "Crypto asset trading platforms will be licensed by the Capital Markets Board (CMB), and minimum operating standards will be required ...

Shares of Zee Entertainment Enterprises Ltd. recovered from a steep plunge on Tuesday after the company said that it was still working to close its planned merger with Sony Group Corp.’s India unit, Bloomberg News reported. The stock, which had lost as much as 13.6% while trading in Mumbai — the lowest level since Feb. 23, recouped bulk of the losses after the company’s exchange filing. It was trading 6.5% lower at 259.95 rupees at 1:58 pm in Mumbai, data compiled by Bloomberg show. The benchmark S&P BSE Sensex was up.

China’s central bank signaled that it’s prepared to keep policy loose by lowering the amount of money banks must keep in reserve, reinforcing expectations among investors of more easing to come, Bloomberg News reported. The People’s Bank of China will use a variety of tools to provide “strong support” for a reasonable growth in credit, said Zou Lan, head of the central bank’s monetary policy department, in an interview with Xinhua News Agency late Monday.

A subsidiary of Chinese developer Xinyuan Real Estate Co Ltd. has filed for chapter 11 protection in the Southern district of New York court, according to a court filing, Bloomberg News reported. Hudson 888 Owner LLC, whose business is “single asset real estate,” filed the petition, according to the court document dated Sunday. Its estimated liabilities and assets are both within the range of $100 million to $500 million, the filing shows. Hudson 888 Owner is a US unit of Xinyuan, according to a document on the SEC website.