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.

Australia plans to wipe out about A$3 billion ($2 billion) from student loans, cutting the debt of more than three million people, as the country continues to grapple with inflation and cost-of-living pressures, Bloomberg News reported. The center-left Albanese government announced the measure in its monthly budget on Sunday in hopes that it would ease economic pressure on workers and students, said Minister for Education Jason Clare in a statement.

Go Airlines India Ltd., which has been grounded for a year after filing for insolvency, risks having its entire fleet of aircraft repossessed in a further blow to any chances of a revival for the Indian carrier, Bloomberg News reported. India’s regulator, the Directorate General of Civil Aviation, deregistered the company’s fleet of 54 leased Airbus SE A320neo aircraft, according to people familiar with the matter, who asked not to be identified because the matter is private.

Pakistan will push back the deadline for companies to express interest in buying national carrier Pakistan International Airlines to May 18, the country's privatisation minister said on Thursday, Reuters reported. The extension, announced in a statement by Minister for Investment and Privatisation Abdul Aleem Khan, came a day before the expressions of interest had originally been due. He said 10 companies had already expressed an interest.

Japan likely conducted its second currency intervention this week, current account figures from the central bank suggest, in another sign of the government’s intensified battle to prop up the yen, Bloomberg News reported. Tokyo’s latest entry into the market was likely around ¥3.5 trillion ($22.5 billion), based on a comparison of Bank of Japan accounts and money broker forecasts. The BOJ reported Thursday that its current account will probably fall ¥4.36 trillion due to fiscal factors on the next business day of Tuesday.

The National Company Law Tribunal (NCLT), Hyderabad, on Tuesday admitted Aditya Birla ARC's initiation of insolvency process petition against the personal guarantees given by the promoters of KSK Mahanadi Power Company K.A. Sastry and S. Kishore, the Economic Times of India reported. The two promoters had guaranteed upward of Rs 4000 crore for loans sanctioned to KSK Mahanadi. Aditya Birla ARC has largest share of 33.38% in the total claims from KSK Mahanadi Power, which is around Rs 32,000 crore.