Scotland’s corporate insolvencies dipped by 3.1% in Q1 2024-2025 compared to the previous fiscal year, totaling 283, Scottish Financial News reported. Despite this decrease, figures are still 17.9% higher than pre-pandemic levels.

The National Company Law Tribunal has directed to initiate insolvency proceedings against Supertech Township Projects on a plea filed by Punjab & Sind Bank over a default of Rs 216.92 crore. This is the third group firm of Ram Kishor Arora-led realty major Supertech to go through the Corporate Insolvency Resolution Process (CIRP), the Economic Times of India reported.

Private lenders to PT Visi Media Asia secured a rare win in Indonesian court after a Jakarta judge ruled to fully admit their $560 million claim, allowing them to participate in the debt restructuring of the embattled media company, Bloomberg News reported. The ruling by Judge Kadarisman Al Riskandar of the Central Jakarta Commercial Court on Monday overruled an earlier decision by court administrators who had rejected the claim, according to a statement from a group of creditors. Lenders to the company include funds managed by Tor Investment Management and Varde Partners Inc.

The last time a freshly minted Labour government unabashedly campaigned on an ambitious national industrial policy to revive the British economy was 50 years ago, and the results were generally viewed as disastrous, the New York Times reported. The 1974 program of subsidies, state ownership and power sharing among business, unions and government resulted in strikes that paralyzed the nation. And the government’s goal of picking industrial winners turned into a policy of backing losers like the automaker British Leyland and British Steel Corporation.

Nigeria’s annual inflation quickened for an 18th straight month, raising the prospect of another interest-rate increase when the central bank meets next week, Bloomberg News reported. Consumer prices rose 34.2% in June from 34% a month earlier, according to data published on the website of the National Bureau of Statistics on Monday. The median estimate of eight economists in a Bloomberg survey was 34%. The main drivers of the acceleration were higher rental, transport and grain costs.

A Hong Kong court gave Chinese property developer Kaisa Group a seven-week respite on Monday to finalise a debt restructuring plan, adjourning a hearing on a liquidation petition for what it said could be the last time, Reuters reported. The High Court adjourned the hearing to Aug. 12 after the petitioner representing a key group of bondholders agreed to Kaisa's request for more time. The Shenzhen-based developer has been working to restructure its offshore debt since defaulting on $12 billion in offshore debt payments in late 2021.

British inflation fell back to the Bank of England’s 2% target for the first time in almost three years, a milestone that likely comes too late to improve the political fortunes of Prime Minister Rishi Sunak before the looming election, Bloomberg News reported. Consumer price increases eased in May from 2.3% the month before, the Office for National Statistics said on Wednesday.

Insolvency Appellate Tribunal NCLAT has upheld orders approving Adani Goodhomes' resolution plan for realty firm Radius Estate with a 93 percent haircut for creditors, the Economic Times of India reported. A two-member bench comprising the NCLAT Chairman rejected the petitions by two dissenting financial creditors, saying it was "commercial wisdom" of the Committee of Creditors (CoC), which approved the payout to different creditors.

Property firm China Evergrande Group said on Tuesday its liquidators have made only "modest realisations" of the company's assets and were now seeking investors for restructuring, Reuters reported. The embattled developer's "liquidity and other internal resources remain limited," a filing by the company showed.

China's economy is set to grow 5% this year, after a "strong" first quarter, the International Monetary Fund said on Wednesday, upgrading its earlier forecast of 4.6% expansion though it expects slower growth in the years ahead, Reuters reported. The global lender's new projections come as Beijing steps up efforts to shore up an uneven recovery in the world's second-biggest economy, which has stumbled in the face of a protracted property crisis and its ripple effects across investors, consumers and businesses.