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.

Chinese leaders pushed for an unusually speedy resolution for Zhongzhi Enterprise Group Co. after the shadow banking giant collapsed, underscoring the government’s increased focus on containing financial risks as the economy struggles, Bloomberg News reported.

Chinese regulators have closed a regulatory loophole that last year allowed heavily indebted local government financing vehicles (LGFVs) to further increase their borrowing, four sources familiar with the matter told Reuters. LGFVs, set up by Chinese local governments to fund infrastructure investment, have been told to stop issuing offshore bonds with a 364-day duration, the sources said.

A top executive at China Evergrande's electric-vehicle business has been detained as part of a criminal investigation, adding to Evergrande’s mounting problems, the Wall Street Journal reported. China Evergrande New Energy Vehicle said on Monday that Liu Yongzhuo, an executive director and the president of its automobile business, was being held by authorities “on suspicion of illegal crimes.” It didn’t provide details or say when he was detained. Liu attended a company event in the northern Chinese port city of Tianjin on Dec.

China's State Council issued guidelines on improving an operating budget system for state-owned capital, according to a statement on the government website on Saturday, Reuters reported. The government will expand coverage of the budget system and optimise a mechanism for state-owned companies to hand over their profits, among a series of measures seeking to improve the capital efficiency and support growth of state-owned assets, it said. Read more.

The National Company Law Tribunal (NCLT) has admitted Canara Bank's application to initiate the corporate insolvency resolution process (CIRP) against Mumbai-based real estate developer Shah Group Builders, the Economic Times of India reported. The bank had moved the bankruptcy court against the developer in 2020 following its default on loans worth nearly ₹100 crore including interest thereon. The account was declared a non-performing (NPA) in December 2016.