An Indian court tasked industrial safety officials on Tuesday with visiting carmakers in the southern state of Tamil Nadu to draw up uniform safety guidelines for workers during a second devastating wave of COVID-19 infections amid the pandemic, Reuters reported. Workers at the Indian unit of Renault-Nissan had asked the Madras High Court for operations to be halted, saying social distancing norms were being flouted and the risk to their lives outweighed the health benefits provided by the company.

IndiGo, one of Asia’s biggest budget airlines, reported a wider-than-anticipated loss over the weekend as passenger traffic shrank with the coronavirus tearing through India, Bloomberg News reported. The carrier, operated by InterGlobe Aviation Ltd., posted a loss of 11.5 billion rupees ($157 million) in the three months through March, its fourth quarter, widening from a loss of 8.7 billion rupees a year earlier. The average forecast from analysts was for a deficit of 4.5 billion rupees.

The company operating Cambodia's only active oil field has collapsed under its debt, dealing a blow to the country's hopes of becoming a significant oil producer, Nikkei Asia reported. In an announcement on Friday, Singapore-listed KrisEnergy said it was unable to pay its debts and "will proceed to liquidation." KrisEnergy in December celebrated pumping the Southeast Asian country's first oil from the Apsara field, an offshore concession also known as Block A. The company's heavy debt, however, was a looming concern even then.

Pakistan will cut taxes on imports of raw materials to spur manufacturing and overall economic growth, according to Prime Minister Imran Khan’s trade adviser, Bloomberg News reported. Customs duties on input items needed by pharmaceutical, chemical, engineering and food processing industries will be reduced by 3% to 10%, Abdul Razzak Dawood, Khan’s adviser on commerce, said in an interview by telephone. That will help lower the import of finished goods, encourage local production and put the nation in a position to boost exports, he said. “Pakistan had ridiculously high duties,” Dawood said.

China Evergrande Group, the country’s most indebted developer, reversed losses in Hong Kong trading after the company clarified that operations remained normal and it was compliant in dealings with a banking unit, Bloomberg News reported. The shares rose as much as 3.7% on Monday afternoon after earlier sliding 5.3%. In a statement, Evergrande said various “rumors,” including that it was resorting to widespread price discounts, were false. Chinese developers are facing a slew of measures to curtail risks in the sector, with regulators monitoring everything from bank lending to land sales.

Defunct Jet Airways, which is undergoing insolvency resolution for nearly two years, cannot claim "historicity" for slots at airports, and allocation of slots will be based on existing guidelines, according to an affidavit, the Times of India reported. The civil aviation ministry and aviation regulator DGCA have also informed the National Company Law Tribunal (NCLT) that for claiming historicity, the criteria cannot be based on contention that airline was in operation for 25 years.

China’s HNA Group Co. said that nearly 67,400 creditors are seeking a total of 1.2 trillion yuan ($187 billion), according to a person who attended the conglomerate’s online meeting for creditors on Friday, Reuters reported. The company has confirmed 405.7 billion yuan in claims as valid and has rejected 353.5 billion yuan in claims, the person quoted Ren Qinghua, the head of HNA’s liquidation team, as saying. Another 156.5 billion yuan in claims are being assessed as part of a preliminary review while some claims have yet to be reviewed, added the person.

China is pushing China Huarong Asset Management Co. to sell non-core assets, two people involved in the revamp told Reuters, while considering offering an implicit guarantee of the liabilities of the debt-laden bad-debt manager. Regulators are pressing the state-controlled "bad bank", which has been trying to restructure since 2018, to sell units including a bank, a trust, an investment firm and a consumer finance firm.

The Committee of Creditors (CoC) of Aircel has approached the Indian Supreme Court (SC) to overrule the order of the National Company Law Appellate Tribunal (NCLAT) that restrict them from selling the spectrum before the overall dues of the company are cleared. Because of the order, Aircel might have to move towards liquidation, which will hurt all of its lenders who are trying to recover their money from the company, Telecom Talk reported.

Major shipping companies have warned clients of worsening congestion at Shenzen's Yantian port in southern China following the discovery of several asymptomatic cases of COVID-19 in the city, Reuters reported. Yantian International Container Terminal (YICT), one of China's busiest container ports with an annual handling volume of more than 13 million twenty-foot equivalent units (TEU), has imposed stringent disinfection and quarantine measures since May 21 when the virus was discovered among port staff.