Japan Post Bank said it would launch a digital yen by the end of fiscal 2026 to make it more convenient for its depositors to make digital financial transactions, Reuters. reported. The move by the postal giant, which holds roughly 190 trillion yen ($1.29 trillion) in deposits, highlights a growing wave of domestic entities tapping blockchain technology to streamline financial transactions.

The Supreme Court on Friday sought the opinion of former Intelligence Bureau director and former National Human Rights Commission member Rajiv Jain to look into the insolvency proceedings of Supertech Realtors as a recent CBI report has alleged siphoning of homebuyers’ money in 21 projects by the developer’s suspended director Ram Kishore Arora in 21 projects, the Economic Times of India reported.

India’s economy unexpectedly accelerated in the April-June quarter, as stronger government spending offset moderating industrial activity, the Wall Street Journal reported. Official data Friday showed that India’s economy grew 7.8% from a year earlier, up from 7.4% in the prior quarter. That topped the 6.6% median forecast in a Wall Street Journal poll, in which all 12 economists had predicted a slowdown. Manufacturing activity edged higher, with growth at 7.7% versus 7.6% a year earlier. Construction slowed, while mining and quarrying contracted on year. Agriculture grew 3.7%.

Hong Kong High Court Judge Linda Chan said that she would like to see more Chinese cities allowed to recognize the city’s insolvency proceedings under a pilot program, Bloomberg News reported. In 2021, courts in Shanghai, Shenzhen and Xiamen were allowed to recognize insolvency proceedings in Hong Kong. In practice, the Hong Kong High Court has assisted insolvency administrators appointed by mainland China courts to collect assets and investigate related corporate affairs in Hong Kong, according to Chan.

The bankruptcy court in Mumbai has admitted AGS Transact Technologies for corporate insolvency resolution process (CIRP) on an application filed by the listed payment solution company's operational creditor Securitrans India Pvt Ltd., the Economic Times of India reported. The National Company Law Tribunal (NCLT) has also appointed Brijendra Kumar Mishra as the interim resolution professional of the company. AGS Transact is a provider of an integrated omnichannel payment solution across diverse sectors in India and in the manufacturing and supply of ATMs.

Bollywood actor Salman Khan has approached appellate tribunal NCLAT, challenging an NCLT order which had dismissed his plea to initiate insolvency proceedings against Jerai Fitness towards an unpaid amount of Rs 7.24 crore, the Economic Times of India reported. This dispute is related to 'BEING STRONG', a fitness equipment brand founded by Salman Khan, in collaboration with Jerai Fitness. The appeal filed by Khan was listed before a two-member bench of the National Company Law Appellate Tribunal (NCLAT) last week. However, it was adjourned on the request of his counsel.

Future Consumer Ltd, part of the debt-ridden Future Group, is facing an insolvency plea filed by Resurgent India Special Situations Fund before the NCLT, claiming defaults, the Economic Times of India reported. The company, already grappling with a significant liquidity crunch and defaults on loan repayments totaling Rs 558.73 crore, acknowledged the filing and stated it would make appropriate representations. Future Consumer Ltd, the FMCG company owned by debt-ridden Future Group, faces an insolvency plea filed before the National Company Law Tribunal (NCLT).

The Philippine central bank lowered its policy rate for a third consecutive time to bolster the economy, as low inflation provides room to keep supporting growth, the Wall Street Journal reported. Bangko Sentral ng Pilipinas cut its benchmark overnight reverse repurchase rate by 25 basis points to 5.00%. It also lowered its benchmark lending rate, to 5.50% from 5.75%. A backdrop of benign price pressure gives policymakers the space to keep easing monetary settings to prop up weak growth.

The Philippine central bank lowered its policy rate for a third consecutive time to bolster the economy, as low inflation provides room to keep supporting growth, the Wall Street Journal reported. Bangko Sentral ng Pilipinas cut its benchmark overnight reverse repurchase rate by 25 basis points to 5.00%. It also lowered its benchmark lending rate, to 5.50% from 5.75%. A backdrop of benign price pressure gives policymakers the space to keep easing monetary settings to prop up weak growth.