Headlines

Fortis Healthcare, Apollo Hospitals, Medanta and Max Healthcare are among half-a-dozen companies that have shown preliminary interest in acquiring Jaypee Healthcare, the last of the Jaiprakash Group's priced assets to be admitted into bankruptcy, the Economic Times reported. On Friday, the Allahabad bench of the National Company Law Tribunal (NCLT) gave an oral order to admit Jaypee Healthcare for corporate insolvency and resolution process on a petition filed by JC Flowers Asset Reconstruction Company. A written order is yet to be uploaded by the tribunal on its website.

China's securities regulator said on Tuesday it will strengthen regulation of all financial activities and prevent and resolve risks, in a move to improve and reform financial markets amid a wobbly economic recovery, Reuters reported. The China Securities Regulatory Commission (CSRC) said in a statement it will maintain a "zero-tolerance" stance on illegal activities in the capital market. "Preventing and defusing financial risks, especially preventing systemic financial risks, is the fundamental task of financial work," the CSRC said in a statement.

China's latest property support measures have boosted transactions in its biggest cities, but activity in smaller localities is struggling to get off the ground, pointing to more pain ahead for most of the country's real estate market, Reuters reported. On May 17, China cut minimum mortgage rates and downpayments and instructed municipalities to buy unsold apartments to turn them into social housing, sparking dozens of announcements from cities easing policies under the new guidelines.

At least five groups of investors submitted binding bids this month in a U.S. court-ordered auction of shares in Citgo Petroleum's parent, and three have secured financing commitments for Venezuela's foreign crown jewel, Reuters reported. In the last mile of an unprecedented auction to pay up to $21.3 billion from past expropriations and debt defaults in Venezuela, a federal court officer supervising the auction is working to evaluate bids from big investors and creditors.

The European Union will delay a core element of global reforms to bank capital rules by one year to January 2026, the bloc's financial services chief said on Tuesday, to ensure a level playing field between EU banks and their U.S. rivals, Reuters reported. Countries are introducing the last batch of a global bank capital accord known as Basel III, rolled out after taxpayers were forced to bail out lenders in the global financial crisis of 2007-09.

Thailand’s central bank governor pushed back further against a government suggestion to raise the monetary authority’s inflation target, spelling out the risks of such a move to Southeast Asia’s second-largest economy, Bloomberg News reported. Any push to tweak the inflation target may unanchor expectations and result in quickening price gains — and in turn, higher borrowing costs, Governor Sethaput Suthiwartnarueput said in an interview with Bloomberg Television’s Haslinda Amin in Bangkok on Tuesday.

Brazil's tax authority will soon call foreign crypto exchanges not based in the country to explain their operations and how they cooperate with local service providers, government officials told Reuters on Monday. The tax revenue service is expected to publish this week an ordinance summoning these companies for further information. Unlike exchanges formally established in Brazil, they are not obligated to report transactions conducted on their platforms. "It's an area of concern for us to understand first how they operate here, whether there's any illegality or not.

The Reserve Bank of Australia continued to warn about ongoing inflation risks at its policy meeting on Tuesday, leaving open the potential for a further interest-rate increase if price pressures remain stubbornly high over coming months, the Wall Street Journal reported. As expected, the board of the RBA chose to keep the official cash rate steady at 4.35%, where it has sat since November. “Inflation is easing but has been doing so more slowly than previously expected and it remains high,” the RBA’s policy-setting board said in a statement.

India’s inflation continues to be sticky, making it premature for the central bank to discuss a change in its monetary policy stance, Reserve Bank Governor Shaktikanta Das said Tuesday, Bloomberg News reported. Even though core inflation reached a historical low, food prices remain high due to supply-side factors, Das said at an event by ET NOW television in Mumbai. “This last mile of disinflation journey is proving very sticky, arduous and very slow,” he said, adding the central bank will remain watchful.

UniCredit SpA is working on three significant risk transfer deals linked to as much as €8.5 billion ($9 billion) of loans to Italian and German companies, Bloomberg News reported. The Milan-based bank is selling two so-called SRTs linked to €3.5 billion of leasing contracts with Italian companies and €2 billion euros of Italian small and medium-sized businesses, said the people, who asked not to be named because the deal is private. UniCredit also plans to issue SRTs linked to as much as €3 billion of loans to German SMEs by the summer.