Headlines

The supreme courts of Singapore and Indonesia have signed a memorandum of understanding (MOU) that, for the first time, gives judges in both countries a formal channel for coordinating on the same insolvency or restructuring case, SingaporeLawWatch.sg reported. This reduces the risk of inconsistent outcomes, fragmentation of the insolvency process, poor recoveries, inefficiency and wastage of costs, said Kannan Ramesh, insolvency judge and judge of the Appellate Division of the Supreme Court of Singapore.

Administrators investigating the £2.6 billion collapse of a mortgage lender have said the group is exposed to so much valuable London property that sales will need to be drip-fed into the market to avoid "depressing prices" in the capital.

The French company Le Coq Sportif has filed for insolvency proceedings against its Spanish subsidiary, Modaes.com reported. The Spanish company of the sports equipment and fashion company has filed for bankruptcy proceedings, after the French parent company also went to court and was rescued by businessman Dan Mamane. Le Coq Sportif, which once had stores in the main Spanish cities, currently operates only two outlets in outlet format, located in Viladecans (Barcelona) and San Sebastián de los Reyes (Madrid).

Hong Kong’s economy expanded at its fastest pace in nearly five years in the first quarter of 2026, underscoring the strength of its recovery even as the outbreak of war in the Middle East clouds the outlook for growth and inflation across Asia, the Wall Street Journal reported. Advance data, marking the first economic print since the war broke out, showed that the city’s gross domestic product rose 5.9% in January-March period from a year earlier.

Inside a small, family-run auto parts plant on the outskirts of Buenos Aires, production lines sit quiet, Reuters reported. The factory is running below capacity as the firm, Suspenmec, ​struggles to compete with an influx of cheaper imported parts, many from China, after Argentina sharply eased trade restrictions. Sales this year are down around 30% at the ‌company, which makes 600 types of suspension parts. President Javier Milei's aggressive economic reforms - including slashing import barriers and presiding over a stronger peso - have helped stabilize the economy.

Swiss inflation jumped in April as the Iran war sent imported energy costs climbing, the Wall Street Journal reported. Consumer prices were up 0.6% on year, higher than the 0.3% inflation rate in March, Switzerland’s statistics agency said Tuesday. It was the second consecutive rise in inflation, to its highest level since December 2024. Switzerland is less exposed to the rise in energy prices, given its lower reliance on fossil fuels. However, imported fossil fuels are still expected to keep inflation higher this year.

Venezuela's inflation rate ‌eased to 10.6% in April from 13.1% in March, the country's central bank said ​on Monday, Reuters reported. The inflation rate so far ​in 2026 has reached 90%, the ⁠bank said on its website, ​while according to Reuters calculations based on ​central bank figures the annualized inflation rate is 611.86%. "Our economy is healthy; it's doing well," ​the bank's acting president, Luis ​Perez, said in an interview on state TV, ‌in ⁠which he predicted single-digit inflation for May. Perez added that the bank did not alter figures to make them ​more positive.

The Reserve Bank of Australia delivered its third consecutive interest-rate increase on Tuesday, citing a deteriorating inflation outlook and warning of “plausible” scenarios in which fuel-price pressures rise more than expected, the Wall Street Journal reported. The central bank raised its official cash rate by 25 basis points to 4.35%, following increases in February and March, and has now reversed all the cuts it announced in 2025. The decision by the RBA’s policy-setting board was split, with eight members in favor and one against.

India's markets regulator on Tuesday issued ‌an advisory on emerging AI-driven ‌vulnerability detection tools, warning that their ​use could introduce new cybersecurity risks for regulated entities, Reuters reported. The Securities and ‌Exchange Board ⁠of India has constituted a task force to ⁠assess emerging threats posed by such AI-based models. The ​task force ​will examine ​the cyber risks ‌associated with these tools and devise a uniform mitigation strategy.

Canada’s merchandise trade balance swung to a surplus in March as higher crude oil prices and surging demand for gold drove a sharp jump in exports while imports declined, data showed on Tuesday, Reuters reported. Statistics Canada said the country posted a $1.78 billion surplus in March, compared with a $5.11 billion deficit in the prior month. It was the first time in six months that Canada posted a surplus as the war in Iran boosted crude oil prices lifting the value of exports from Canada. While gold prices fell, global demand for the precious metal helped boost exports further.