China's cabinet on Wednesday held out the prospect of more measures to support an economy under pressure from a slowing global recovery, volatile commodity markets and COVID-19 outbreaks, Reuters reported. State media quoted the cabinet as saying it would roll out policies to stabilise market expectations in a timely way, without giving details. Analysts expect China's central bank to lower borrowing costs or pump more cash into the economy to spur growth.

The Delhi bench of the National Company Law Tribunal has initiated bankruptcy proceedings against Anand Divine Developers pvt ltd, a group company of realty developer ATS over dues of Rs 25 crore, the Economic Times of India reported. According to the NCLT order, ICICI prudential venture has moved the tribunal after the developer defaulted on payment. “In the present case, the corporate debtor has not filed any reply and written submissions till now.

China reported a record number of local Covid-19 cases on Monday, as authorities extended a sweeping lockdown in Shanghai in an effort to curb the country’s worst outbreak in more than two years, the Wall Street Journal reported. China recorded more than 16,400 new local Covid cases for Monday, according to the National Health Commission, the highest daily tally in mainland China in more than two years. More than 80% of the latest daily cases were in Shanghai, the commission said on Tuesday.

The Indian Supreme Court on Monday said that it will protect the interests of homebuyers in Supertech’s to-be-razed twin towers situated at Noida’s Emerald Court project from the ongoing insolvency proceedings against the company, and directed the interim resolution professional to separately deal with the refund claims of the buyers and the creditors, the Hindustan Times reported.

A U.S. jury began deliberations on Tuesday in the trial of a former Goldman Sachs banker accused of helping loot billions of dollars from Malaysia's 1MDB sovereign wealth fund, Reuters reported. Prosecutors say Roger Ng, Goldman's former top investment banker for Malaysia, helped his former boss Tim Leissner embezzle money from 1MDB, launder the proceeds and bribe officials to win business for Goldman. The Malaysian fund had been founded to pursue development projects in the Southeast Asian country. Ng has pleaded not guilty to conspiring to launder money and violating an anti-corruption law.

Thailand's leading joint business group on Tuesday trimmed its economic growth forecast for this year to 2.5%-4.0% from a previous forecast of 2.5%-4.5% due to the impact of the Russia-Ukraine war on global growth and energy prices, Reuters reported. The inflation forecast was raised to 3.5%-5.5% this year from a previous projection of 2.0%-3.0%, the group, which includes representatives from industry, banking and commerce, said in a statement. It maintained its export growth outlook of 3.0%-5.0% this year.

President Gotabaya Rajapaksa revoked emergency rule within days of imposing it as the escalating political crisis makes it tougher for Sri Lanka to agree a much-needed financial bailout from the International Monetary Fund, Bloomberg News reported. The proclamation that took effect April 1 is repealed as of midnight April 5, Rajapaksa said in an extraordinary gazette late Tuesday. Imposing Emergency had given Rajapaksa sweeping powers to detain protesters and seize property, but he also faced mounting calls from lawmakers to step down.

China Evergrande Group and some of its biggest offshore creditors have reached agreement on moving restructuring talks forward, helping stave off their threats of taking over the company’s offshore businesses after $2 billion in offshore cash was seized by banks, WSJ Pro Bankruptcy reported. Evergrande agreed in principle late last week to pay bondholders’ advisory fees, provide additional due diligence on the company’s financial health, and give creditors a formal role in the restructuring process.

In a startling revelation, the Enforcement Directorate has claimed that a prominent business family of Ludhiana and its companies have allegedly been involved in mega financial transactions in Switzerland along with acquiring assets worth several hundred crores in that country in violation of the Foreign Exchange Management Act, the Times of India reported.

A former Goldman Sachs banker should be convicted of helping loot billions of dollars from Malaysia's 1MDB sovereign wealth fund and causing "immeasurable" harm, a U.S. prosecutor told jurors in her closing argument on Monday, Reuters reported. Roger Ng, Goldman's former top investment banker for Malaysia, faces charges he helped his former boss Tim Leissner embezzle hundreds of millions of dollars from the fund, launder the proceeds and bribe officials to win business for Goldman. Assistant U.S.