Chinese automaker BYD has filed a lawsuit against the U.S. government challenging President Donald Trump's bid to use ​sweeping authority to impose tariffs, and requesting a refund for ‌all levies it paid since last April, court documents show, Reuters reported. The lawsuit, the first by a ‌Chinese carmaker over U.S. tariffs, follows similar complaints by thousands of global companies with U.S. operations challenging Trump's use of the International Emergency Economic Powers Act (IEEPA) to impose border taxes. In the lawsuit filed at the U.S.

India’s central bank kept its policy rate unchanged as a U.S.-India trade deal eased a key economic headwind, for now, the Wall Street Journal reported. The Reserve Bank of India on Friday voted unanimously to hold its policy repo rate at 5.25%, pausing after December’s rate cut. The RBI also voted to keep its monetary policy stance neutral. “Amidst heightened geo-political tensions and elevated uncertainty, the Indian economy is in a good spot with strong growth and low inflation,” and the monetary policy committee considers the current policy rate “appropriate”, RBI Gov.

President Trump spent much of last year courting foreign investment in U.S. factories, promising to replace jobs lost to the global economy. The rise of a Chinese automotive glass plant in the Ohio heartland shows the risks when America’s biggest rival sets up shop, the Wall Street Journal reported. Ohio’s governor, along with state and federal lawmakers, welcomed Fuyao when the Chinese glassmaking giant took over a closed General Motors factory a decade ago. The project, supported by Ohio taxpayers, was hailed as a step to reviving a battered Rust Belt region. Now, many feel duped.

Continuing its operation against alleged fraudulent corporate resolutions of bankrupt companies and money laundering activities during insolvency proceedings at National Company Law Tribunal (NCLT), ED on Thursday arrested Arvind Kumar, a former resolution professional (RP) of Richa Industries Ltd., The Times of India reported.

A South Korean crypto exchange accidentally credited users with billions of dollars’ worth of Bitcoin this week, triggering a flash crash in the platform’s listed value of the token, Decrypt.com reported. Instead of airdropping users 2,000 won (a sum worth $1.37 at writing), the exchange, Bithumb, reportedly sent 2,000 BTC apiece, users said. That massive sum was worth some $142 million at writing, with Bitcoin recently trading around $71,000. Read more.

Indonesia's stocks and currency skidded on Friday after Moody's lowered the country's credit rating outlook, the latest jolt for Southeast Asia's largest economy, wiping about $120 billion off its equity market in a turbulent start to the year, Reuters reported. International investors have reacted nervously to President Prabowo Subianto's attempt to ramp up growth to 8%, as concerns over fiscal health and central bank independence cool sentiment on Indonesia.

A Bank of Japan board member highlighted the need for further increases to the benchmark interest rate in order to complete the process of normalizing policy settings, in a signal that’s likely to sustain emerging speculation over an early rate hike, Bloomberg News reported. "I am convinced that continuing with further policy interest rate hikes will be needed to complete the normalization of monetary policy in Japan,” Kazuyuki Masu said Friday in a speech to local business leaders in Ehime Prefecture.

Panamanian President Jose Raul Mulino said on Thursday that the concession of contracts to operate two ports held and operated for nearly three decades by Hong Kong's CK Hutchison Holdings will "never again" be issued to a single company, Reuters reported. Panama's Supreme Court last week nullified CK Hutchison's contract to operate two ports along its strategic canal through its Panama Ports Company subsidiary, ruling that the contracts violated the Central American nation's constitution by giving the company exclusive privileges and tax exemptions.