Headlines

Billionaire Gautam Adani–promoted Adani Enterprises Ltd on Monday submitted its resolution plan of over ₹15,000 crore for bankrupt Jaiprakash Associates Ltd (JAL) before the Allahabad Bench of the National Company Law Tribunal (NCLT), seeking final approval under the Insolvency and Bankruptcy Code (IBC), LiveMint.com reported. The plan was placed before the bench by resolution professional Bhuvan Madan, following its approval by the Committee of Creditors (CoC) in November.

In a significant post-Brexit development, the High Court has, for the first time, recognised and enforced a Northern Ireland Individual Voluntary Arrangement (IVA) in the Republic of Ireland, Irish Legal News reported. The application was brought on behalf of the IVA nominee and supervisor, Séamas Keating, with Daly Hempenstall Solicitors LLP acting and Keith Farry BL appearing before Mr Justice Oisín Quinn.

AILS Sejours Linguistiques, an established agency with offices in Switzerland and France, has ceased trading and filed for bankruptcy, StudyTravel Magazine understands. Communication to a partner provider in Australia shared that AILS filed for insolvency on 5 November 2025 at the First Instance Court of the Canton of Geneva. The message states that the company is "no longer authorised to manage its files, dispose of assets or make any payments or reimbursements".

U.K. household spending fell at its fastest pace since the pandemic last month, as families cut back amid growing fears over the economy, The Telegraph reported. Spending on credit and debit cards fell 1.1pc compared with November of last year, according to data from Barclays, the steepest annual drop since February 2021, when the country was still battling strict Covid restrictions. The fall comes despite weeks of discount offers in the run-up to Christmas, particularly those relating to Black Friday late last month.

The International Monetary Fund on Tuesday approved the release of $1.2 billion to Pakistan, giving the cash-strapped country a fresh boost as it works to recover from one of its worst economic crises in years, the Associated Press reported. The IMF in a statement said its executive board completed two reviews of Pakistan’s economic programs, clearing about $1 billion under its main loan facility and another $200 million from a separate climate-focused program. With the latest approval, Pakistan has received about $3.3 billion from the IMF since last year.

The Central Bank of Argentina (BCRA) is analyzing lifting the crypto ban on banks and allowing them to provide account holders with digital asset-related services, according to Argentinian newspaper, La Nacion, Reuters reported. The new rules for banks could be ready as soon as April 2026, La Nacion reported, quoting sources close to the BCRA.

Higher tariffs have dealt a “severe blow” to the world economy, China's premier said Tuesday, even as China’s own trade surplus has surged past $1 trillion, the Associated Press reported. Premier Li Qiang made the remarks at a forum of top international organizations held in Beijing while top Chinese leaders are attending an annual economic planning meeting.

Mexican lawmakers are slated to begin debate this week on a bill to raise tariffs on goods from China and other Asian countries, three ruling party lawmakers told Reuters, amid fierce opposition from China and Mexican business groups. The proposal would raise tariffs by up to 50% on imports of automobiles, textiles, clothing, plastics, steel and other products from China and other Asian countries that do not currently have a trade pact with Mexico, including India, South Korea, Thailand, and Indonesia.

Japan’s economy shrank in the three months through September, the government confirmed in a revised report, giving some justification for Prime Minister Sanae Takaichi’s stimulus package announced last month, Bloomberg News reported. Gross domestic product fell at an annualized pace of 2.3% in the third quarter, as revised figures showed business spending and housing investment came in weaker than preliminary figures. The contraction was deeper than the initial reading of a 1.8% fall, and was the first in six quarters.

Nations are currently competing to harness the power of artificial intelligence and digitalisation. China and the United States are at the forefront of the race, while the European Union is more heavily focused on ethical regulation and digital rights, EuroNews.com reported. For emerging economies, entering the race signals an attempt to shift the global power dynamics in their favour, seeking to narrow the development gap. For the Central Asian nation of Kazakhstan, it’s also a means to branch out from its raw materials-based economy, a model which cannot last forever.