The flagship company of beleaguered Indian tycoon Gautam Adani pulled a record 200 billion-rupee ($2.4 billion) share sale after a selloff triggered by a US short seller’s report engulfed his group in turmoil, Bloomberg News reported. Adani Enterprises Ltd. decided not to go ahead with its follow-on public offer of shares, according to a statement late on Wednesday. India’s Mint newspaper reported earlier that Adani was considering withdrawing the share sale, even though it was fully subscribed with backing from prominent Indian and Gulf investors.

Hong Kong is sticking with a plan to become Asia’s digital-asset capital despite the industry’s tarnished reputation, a stance drawing tentative interest from bruised crypto firms looking for paths to recovery, Bloomberg News reported. The city claims it will learn the lessons of a $2 trillion crypto market rout and a spate of global bankruptcies like the collapse of the FTX exchange to create a fresh regulatory framework that can protect investors and encourage growth.

Pakistan’s moves to loosen its grip on the currency and increase fuel prices indicate that the beleaguered nation is finally taking the unpopular decisions needed to secure the $6.5 billion bailout program from the International Monetary Fund, Bloomberg News reported. The rupee fell to as low as 270 per dollar on Monday, according to the foreign-exchange desk at AKD Securities Ltd., as authorities allowed the currency to be more determined by the market, one of the preconditions of the IMF for the loan.

Major insurers operating in New Zealand including Insurance Australia Group and Suncorp Group have cumulatively received over 9,000 claims so far following severe storms and flooding in and around the biggest city, Auckland, Reuters reported. As of Monday morning, Suncorp's Vero and AA Insurance brands have received about 3,000 claims, while IAG's AMI, State and New Zealand Insurance brands have fielded over 5,000 claims. Tower Ltd on Sunday said it had received over 1,000 claims since Friday, and noted losses were "substantial".

Malaysia’s Prime Minister Anwar Ibrahim said his government will work to gradually lower the nation’s debt and narrow the budget gap, without resorting to raising taxes that hurt the poor, Bloomberg News reported. “We have reached the ceiling and we should gradually go down,” Anwar told Bloomberg Television’s Haslinda Amin in an interview Monday in Singapore. Otherwise it would be irresponsible to the next generation, he said.

China's central bank said on Sunday it will roll over three lending tools to increase support for targeted sectors of the economy, Reuters reported. The People's Bank of China will roll over a lending tool for supporting carbon emission reduction to the end of 2024, and extend a relending tool for promoting the clean use of coal to the end of 2023, the bank said in a statement on its website. The central bank will also extend a relending tool for the transport and logistics sector to June 2023, it said.

Debt-stricken Sri Lanka’s Central Bank chief said Wednesday that the country is making good progress in talks with its creditors to obtain financial assurances for debt restructuring, an important step toward finalizing an International Monetary Fund rescue plan, the Associated Press reported. Sri Lanka is bankrupt and has suspended repayment of its $51 billion foreign debt, of which $28 billion must be repaid by 2027. It has reached a preliminary agreement with the IMF for a $2.9 billion rescue package over four years.

Cebu Air Inc. will fully restore its pre-pandemic capacity in March, putting the Philippines’ largest budget carrier on the path to “full recovery and profitability” this year, said President and Chief Commercial Officer Alexander Lao, Bloomberg News reported. Cebu Air probably cut its loss to 2.09-billion peso ($38.3 million) in 2022, according to street consensus, as easing of virus curbs and travel restrictions allowed it to mount more flights. Its losses peaked 27.2 billion pesos in 2021 after a 23-billion peso loss in 2020.

Japan’s government cut its monthly economic assessment in January for the first time in 11 months, as trade weakened due to a global economic slowdown, Bloomberg News reported. The Cabinet Office said in its latest report Wednesday that parts of the economy are showing weakness, while overall it’s picking up moderately. It downgraded its view of exports, imports and bankruptcies. Japan is bracing for the impact of a global economic slowdown from aggressive monetary policy tightening, and the fallout from China’s abrupt end to its zero-Covid policy.

Turkey’s central bank is considering a measure to deter lenders from selling currency derivatives to their customers, the latest effort to curb growing corporate demand for dollars, Bloomberg News reported. The monetary authority is designing a new regulation to require banks to hold collateral for forward contracts, with the goal of ultimately cooling off demand for hard currency in the spot market, according to people familiar with the discussions.