The European Union marginally revised its proposed tariffs on electric vehicles imported from China after receiving more information from the affected companies, Bloomberg News reported. The new provisional rates — which will come on top of the existing 10% duty — are: Other EV producers in China that cooperated with the investigation but have not been sampled will be subject to a weighted average duty of 20.8%, while firms that didn’t cooperate will face an additional 37.6% levy. The European Commission, the EU’s executive arm, notified the companies earlier this month about the tariffs.

National carrier Vietnam Airlines JSC is facing the risk of losing liquidity as early as July if the refinancing loan repayment deadline for its government-backed loan is not extended, the government said on Tuesday, Reuters reported. The airline, which received 4 trillion dong ($157 million) in low-cost loans from commercial banks that were refinanced at a zero interest rate by the central bank in 2021, is grappling with financial difficulties due to the impact of the pandemic, the government said in a statement.

Jaiprakash Associates Ltd (JAL) has offered a revised one-time settlement, or OTS, which includes sale of its assets to Dalmia Cement and Rs 500-crore upfront deposit, to its lenders, the Economic Times of India reported. The debt-ridden construction and infrastructure company - which was admitted for insolvency resolution proceedings earlier this month - informed the National Company Law Appellate Tribunal (NCLAT) on Monday that it has revised its offer after the appellate tribunal asked it to consider a higher amount of deposit.

Turkish food delivery startup Getir has agreed to a restructure that will split the business and bring in a $250 million capital injection led by Abu Dhabi wealth fund Mubadala Investment Co., Bloomberg News reported. Mubadala will lead the round and take a controlling stake in Getir’s domestic grocery and food business in Turkey, according to a statement from Getir on Monday. Cofounder and Chief Executive Officer Nazim Salur will be replaced by Getir’s Turkey head Batuhan Gultakan. The restructure follows a power struggle between Salur and Mubadala.

The price Japanese companies charge each other for services rose 2.5% in May from a year earlier, data showed on Tuesday, a sign prospects of steady wage increases are prompting more companies to pass on higher labour costs, Reuters reported. The year-on-year increase, however, slowed from the previous month's 2.7% gain, Bank of Japan (BOJ) data showed.

A Hong Kong court gave Chinese property developer Kaisa Group a seven-week respite on Monday to finalise a debt restructuring plan, adjourning a hearing on a liquidation petition for what it said could be the last time, Reuters reported. The High Court adjourned the hearing to Aug. 12 after the petitioner representing a key group of bondholders agreed to Kaisa's request for more time. The Shenzhen-based developer has been working to restructure its offshore debt since defaulting on $12 billion in offshore debt payments in late 2021.

Infrastructure investment trusts (InvITs) are enjoying immunity from insolvency proceedings and should be brought under the Insolvency and Bankruptcy Code, a top official from SBI said on Friday, the Economic Times of India reported. Ashwini Kumar Tewari, the managing director of the bank, said lenders need the assurance of being able to recover their dues from InvITs in case of a default and added that they are in touch with the Reserve Bank and the government on the same.

Uttar Pradesh government’s rehabilitation package for developers of housing projects undergoing insolvency proceedings has been extended by two weeks, the Economic Times of India reported. Builders can opt for the package if they choose to withdraw their cases with National Company Law Tribunal (NCLT) or in different courts, Noida Authority notified on Thursday. The rehabilitation package was introduced by the state government in December last year. It gave several concessions to developers including a two year interest waiver and penalties imposed during the Covid-19 pandemic.

Sri Lankan officials and global investors are expected to hold a second round of direct talks this week to agree on the restructuring of $12 billion in defaulted bonds, Bloomberg News reported. A group of bondholders, known as the steering committee, will continue to negotiate on the government’s new proposal in this round of the talks. The bondholders went “restricted,” meaning the conversations with the government are covered by temporary trading limitations because the topics under discussion may be market sensitive.