South Korea’s SsangYong Motor has been put under court receivership, the Seoul Bankruptcy Court said on Thursday, in an attempt to rehabilitate the car maker after majority owner Mahindra and Mahindra failed to secure a buyer, Reuters reported. SsangYong applied to the court in December for receivership after it defaulted on a loan repayment. The South Korean automaker is expected to submit a rehabilitation plan to the court by June.

Bank of Korea Governor Lee Ju-yeol said the economy will still expand faster than previously expected, even as rising coronavirus infections and a slow pace of vaccinations at home raise concerns over the outlook, Bloomberg News reported. Growth will probably reach the mid-3% mark this year, above a 3% central bank forecast in February, Lee said at a press briefing after the board held its key interest rate at 0.5%.

Qantas Airways Ltd. said that it expected domestic travel would top pre-pandemic levels next financial year as it raised its forecast for the current quarter on the back of strong demand in a country nearly free of COVID-19, Reuters reported. A return to 90% of pre-pandemic domestic capacity in the fourth quarter ending June 30 will allow it to report positive cashflow and begin repairing a balance sheet burdened by extra debt that helped get it through the pandemic, Chief Executive Alan Joyce said on Thursday.

With the number of tourists visiting Himachal gradually decreasing and hotels reporting cancellations of bookings, the hoteliers and others associated with the tourism industry say they are very close to bankruptcy, the Times of India reported. A day after Himachal government had announced that tourists from seven highly-affected states and union territories will need to bring negative RT-PCR report to visit Himachal from April 16, the tourism stakeholders held a meeting in Manali on Monday.

India’s markets regulator fined Yes Bank Ltd. for claiming that riskier bonds it sold to individual investors were as safe as term deposits, Bloomberg News reported.

Thailand's Nok Air has been granted a second and final one-month extension, until 15 May, to submit its rehabilitation plan, Flight Global reported. “The Central Bankruptcy Court has considered and issued a further order approving the extension of the submission period of the rehabilitation plan to 15 May 2021, which is the last extension of time as permitted by law,” the airline said in a 12 April disclosure to the Stock Exchange of Thailand. The airline requested the extension on 7 April, in accordance with Thailand’s Bankruptcy Act.

Australia’s economic recovery is intensifying as a National Australia Bank Ltd. report showed business conditions -- measuring hiring, sales and profits -- climbed to a record high even as the government was withdrawing its JobKeeper wage subsidy, Bloomberg News reported. An index of conditions jumped to 25 points in March from 17 a month earlier, NAB said in a statement Tuesday. The employment index climbed to 16 points from 9, pointing to ongoing strength in hiring, despite the survey being conducted from March 19-31 that includes the end of JobKeeper.

China’s exports rose 30.6% over a year ago in March as global consumer demand strengthened and traders watched for signs of what President Joe Biden might do about reviving tariff war talks with Beijing, the Associated Press reported. Exports rose to $241.1 billion, decelerating from the dramatic 60.6% rebound in the first two months of 2021, customs data showed Tuesday. Imports rose 38.1% over a year ago to $227.3 billion in a sign of reviving Chinese activity.

China’s finance ministry is considering transferring its stake in China Huarong Asset Management Co. to a unit of the nation’s sovereign wealth fund that invests in financial companies, Bloomberg News reported. One motivation for the proposed transfer to Central Huijin Investment Ltd. is that the unit has more experience resolving debt risks, the person said, asking not to be identified discussing private information. Deliberations over a transfer have continued as investor concern over China Huarong’s financial health sent the company’s dollar bonds tumbling to record lows this month.

The Indian economy’s recovery is likely to be shaped like a K rather than a V, as rising inequality is poised to hit consumption and growth prospects, the country’s former central bank governor said, Bloomberg News reported. “An important consequence of the pandemic has been the sharpening of inequalities,” Duvvuri Subbarao said in an April 9 interview. “Growing inequalities are not just a moral issue.