Taiwan will set up a $1 billion credit program aimed at funding projects by Lithuanian and Taiwanese companies amid economic pressure from China over an office that the island opened in the European Union country, Lithuanian officials said Tuesday, the Associated Press reported. It follows Taiwan’s announcement last week about creating a $200 million investment fund to help Lithuania amid a diplomatic row with Beijing. American and Lithuanian officials say China has blocked imports from the Baltic nation, a close U.S. ally.

Creditors of struggling airline PT Garuda Indonesia have submitted about 198 trillion rupiah ($13.8 billion) in claims as part of a debt restructuring, according to court-appointed administrators, Bloomberg News reported. The administrators for the flag carrier received claims from more than 470 creditors by the end of a Jan. 5 deadline, Martin Patrick Nagel and Jandri Siadari, members of the team of administrators, wrote in replies to questions from Bloomberg. They will now verify the provisional claims and decide on Jan.

Germany is blaming the collapse of a shipyard business on its Malaysia-based owner Genting Group, saying the conglomerate refused to contribute to a government bailout plan, the Associated Press reported. The MV Werften shipyard in northeastern Germany, which Genting bought in 2016, filed for bankruptcy protection Monday after getting into financial difficulties over the construction of a massive cruise liner. The German government had earlier said it was willing to discuss a 600 million-euro ($678 million) bailout plan that would protect 1,900 jobs.

Embattled Chinese developer Shimao Group Holdings Ltd.’s shares jumped the most on record after REDD reported that it’s in talks with a bigger rival on asset disposals, Bloomberg News reported. The company’s stock closed 19% higher in Hong Kong on Monday, while subsidiary Shanghai Shimao Co. surged by the 10% daily limit in Shanghai. Shimao’s dollar bonds also climbed. The moves followed REDD’s report that China Vanke Co. is in talks to acquire assets from Shimao, citing an unidentified source close to the latter.

Heavily indebted property firm China Evergrande Group said on Monday that it has moved out of its headquarters in Shenzhen to another property in the city to cut costs and was still registered in the southern Chinese city, Reuters reported. The company issued its statement after Chinese media outlet The Paper reported that Evergrande had moved its headquarters from Shenzhen to nearby Guangzhou. Evergrande said it has moved out of Shenzhen's Excellence Centre, which is owned by another company, to a building that Evergrande owns in the city but gave no further details on the new set-up.

A consortium led by South Korean electric carmaker Edison Motors Co has agreed to acquire debt-ridden SsangYong Motor Co Ltd for 305 billion won ($254.65 million), SsangYong Motor said on Monday, Reuters reported. SsangYong is burdened with high debt and its vehicle sales last year fell to 84,496, down about 21% from a year earlier, a regulatory filing from the automaker showed. The automaker reported a January-September 2021 operating loss of 238 billion won from revenue of 1.8 trillion won.

Shimao Group Holdings Ltd., a bellwether for financial contagion in China’s embattled property industry, suffered its biggest-ever bond rout on Thursday after a creditor said one of the developer’s units defaulted on a local loan, Bloomberg News reported. The Shimao unit failed to pay 645 million yuan ($101 million) of a total 792 million yuan due by Dec. 25, according to a notice sent to investors by China Credit Trust Co. The trust firm had demanded early repayment by Dec. 25 after the developer failed to meet installment requirements, according to the notice.

China called on banks to boost real estate lending in the first quarter and eased a key debt restriction for developers, a sign that authorities are becoming increasingly concerned about the industry’s liquidity crisis, Bloomberg News reported. In previously unreported window guidance issued last month, regulators told banks to step up lending to developers after at least two quarters of consecutive declines, people familiar with the matter said, asking not to be identified discussing private information.

Violent protests against the government in Kazakhstan led to intermittent internet shutdowns for a second day, as troops from a Russia-led military alliance arrived in the country to restore order. The lack of connectivity disrupted huge cryptocurrency mining operations in the country, which has become one of the world’s largest hubs for this activity, the New York Times reported. Creating, or mining, Bitcoin and other cryptocurrencies is a power-hungry process in which vast computer networks compete online for newly created crypto tokens.

An Indian court has ordered a halt on Amazon.com Inc.’s arbitration case against Future Retail Ltd. in Singapore, a day after it had refused to interfere with the process, Bloomberg News reported. Following an appeal by Future Retail, a two-judge panel of the Delhi High Court overturned Tuesday’s verdict and stayed the arbitration process started by Amazon to stop the cash-strapped Indian retailer’s asset sale to Reliance Industries Ltd. until the next hearing on Feb. 1.