Centerra Gold Inc. is claiming a Kyrgyz open-pit mine it once ran has flooded and poses safety and environmental risks, although the government-appointed administrator says the water has always been there, Bloomberg News reported. There may be at least 40 meters (131 feet) of water at the bottom of the Kumtor central pit, the Canadian mining company said on Tuesday in a statement, citing photos on Kumtor Gold Co.’s website and a company video posted mid August on Facebook.

India is set to absolve bidders for its loss-making flag carrier from any liability arising out of a lawsuit filed by Cairn Energy Plc, which has claimed the state-run airline’s assets over a long-running tax dispute with the government, Bloomberg News reported. Prime Minister Narendra Modi’s administration will offer so-called indemnity to the financial bidders of Air India Ltd., which the government has repeatedly tried to sell without success.

Singapore Exchange is preparing to roll out easier guidelines for listings of special purpose acquisition companies (SPACs) in the city-state, which would make it the first major Asian bourse to accept such investment vehicles, Reuters reported. The changes come after SGX, which has struggled to capture large listings of high-growth companies, received market feedback that some of its earlier proposals were too strict.

Sri Lanka has declared an economic emergency empowering the authorities to seize stocks of staple foods and set their prices, to contain soaring inflation after a steep devaluation of its currency due to a foreign exchange crisis, Reuters reported. The president of the island nation, Gotabaya Rajapaksa, on Monday declared an emergency under the public security ordinance to maintain the supply of food items such as sugar and rice at fair prices. The emergency came into effect from midnight.

he Insolvency and Bankruptcy Board of India (IBBI) has proposed a code of conduct for the committee of creditors and measures to strengthen the regulatory framework for the liquidation process, the Economic Times of India reported. It has sought public comments on discussion papers related to the corporate insolvency resolution process (CIRP).

European technology giant Prosus NV said that it struck a $4.7 billion deal—its largest-ever acquisition—to buy Indian payments platform BillDesk, the latest investor bet that more and more consumers will conduct transactions online, the Wall Street Journal. Amsterdam-listed Prosus, which is majority owned by South African holding company Naspers Ltd., said that its payments and fintech subsidiary PayU will pay 345 billion rupees, equivalent to $4.72 billion, for BillDesk in an all-cash deal. Prosus shares rose 5% Tuesday following the announcement.

China's market regulator proposed amendments to the country's e-commerce law, saying that licences can be revoked if the platforms fail to take necessary measures against vendors who infringe intellectual property rights, Reuters reported. The amendments are open for public review before Oct. 14, an article published by the State Administration of Market Regulation (SAMR) website on Tuesday said. China has been tightening regulatory control over the country's internet giants, drafting new laws in areas such as anti-monopoly and data security.

China’s top manager of distressed assets, China Huarong Asset Management Co., confirmed it made a net loss of roughly $16 billion last year, and warned investors that it fell short of regulatory requirements on financial strength, the Wall Street Journal reported. The publication of the 2020 results is a key step in the rehabilitation of Huarong. The company, a major borrower in international bond markets, had rattled global investors earlier this year after it delayed the release of its annual results.

A global financial crimes watchdog urged Japan on Monday to improve cooperation between different government agencies as part of efforts to combat money-laundering and the financing of terrorism, Reuters reported. Responding to the report by the Financial Action Task Force (FATF), Japan's finance ministry announced a three-year action plan that will include an anti-money laundering inter-agency task force and tighter supervision of financial institutions.

Too big to fail or too tough to save? As China’s debt-laden No. 2 property developer lurched from one crisis to another in recent months its creditors, investors, suppliers, and bankers agonised over its fate with little hope on the horizon, Reuters reported. But industry watchers say clear signs are now emerging that authorities at various levels are stepping in to avoid a hard landing for China Evergrande Group, amid worries about the “social impact” of a possible collapse that could cascade through the country’s financial system.