Headlines

Bollywood actor Salman Khan has approached appellate tribunal NCLAT, challenging an NCLT order which had dismissed his plea to initiate insolvency proceedings against Jerai Fitness towards an unpaid amount of Rs 7.24 crore, the Economic Times of India reported. This dispute is related to 'BEING STRONG', a fitness equipment brand founded by Salman Khan, in collaboration with Jerai Fitness. The appeal filed by Khan was listed before a two-member bench of the National Company Law Appellate Tribunal (NCLAT) last week. However, it was adjourned on the request of his counsel.

The number of unemployed people in Germany has topped three million for the first time in a decade, labour office figures showed on Friday, raising the stakes for the government's huge investment plans to deliver quick results, Reuters reported. A total of 3.02 million people were unemployed in August in seasonally unadjusted terms, with an increase of 46,000 in the number of people out of work from the previous month. "In Germany, three million is not just a number.

Future Consumer Ltd, part of the debt-ridden Future Group, is facing an insolvency plea filed by Resurgent India Special Situations Fund before the NCLT, claiming defaults, the Economic Times of India reported. The company, already grappling with a significant liquidity crunch and defaults on loan repayments totaling Rs 558.73 crore, acknowledged the filing and stated it would make appropriate representations. Future Consumer Ltd, the FMCG company owned by debt-ridden Future Group, faces an insolvency plea filed before the National Company Law Tribunal (NCLT).

Canada’s top capital markets regulator has filed applications to push David and Natasha Sharpe, the husband-and-wife team who once ran private lender Bridging Finance Inc., into bankruptcy after they failed to pay millions of dollars in sanctions, Bloomberg News reported. The Ontario Securities Commission said on Wednesday that it filed to appoint a trustee over the couple’s assets.

The Philippine central bank lowered its policy rate for a third consecutive time to bolster the economy, as low inflation provides room to keep supporting growth, the Wall Street Journal reported. Bangko Sentral ng Pilipinas cut its benchmark overnight reverse repurchase rate by 25 basis points to 5.00%. It also lowered its benchmark lending rate, to 5.50% from 5.75%. A backdrop of benign price pressure gives policymakers the space to keep easing monetary settings to prop up weak growth.

The Philippine central bank lowered its policy rate for a third consecutive time to bolster the economy, as low inflation provides room to keep supporting growth, the Wall Street Journal reported. Bangko Sentral ng Pilipinas cut its benchmark overnight reverse repurchase rate by 25 basis points to 5.00%. It also lowered its benchmark lending rate, to 5.50% from 5.75%. A backdrop of benign price pressure gives policymakers the space to keep easing monetary settings to prop up weak growth.

India has had less than a month to adjust to the fact that President Trump deemed it “not a good trading partner” and deserving of punishment. After months of hopeful negotiations over the details about soybeans and trade surpluses, on July 30 India found out that it was getting stuck with a 25 percent rate. A week later, the other shoe dropped: An additional 25 percent penalty would be applied because India buys Russian crude oil, the New York Times reported. Those tariffs took full effect on Wednesday.

Mexico's government is set to raise tariffs on Chinese imports, including cars, textiles and plastics, as part of its 2026 budget proposal next month, Bloomberg News reported. The tariff increases may also target other Asian countries, according to sources.

Confidence in the eurozone’s economic outlook fell back as sluggish growth weighed on sentiment, with little hope of a major rebound ahead, surveys of households and business showed, the Wall Street Journal reported. The European Commission said Thursday that its economic sentiment indicator for the currency area edged down to 95.2 this month from 95.7 in July, thwarting economists’ expectations of a slight uptick in sentiment. Consumer confidence fell back, as did sentiment in industry and construction.

The European Commission proposed on Thursday removing tariffs on imported U.S. industrial goods, part of a trade agreement with the United States that should result in retroactive cuts to U.S. tariffs on European cars, Reuters reported. The proposals are the first EU step in enacting the framework agreement between U.S. President Donald Trump and Commission President Ursula von der Leyen on July 27, which saw the EU accept a broad 15% tariff to avoid a damaging trade war.