Headlines

According to the financial analysis platform RisCo, companies in Romania continue to face financial difficulties, leading to the opening of insolvency files and court proceedings, RomaniaJournal.ro reported. This trend is confirmed by data from November 2025, when the number of insolvency cases reached 985. Compared to November 2024, when the number of insolvencies slightly exceeded 670 cases, November 2025 shows a 46.5% increase. This surge highlights an intensification of insolvency cases during the analyzed period.

Administrators to Petrofac, the collapsed oilfield services company, are racing to secure a sale of its North Sea operations by Christmas - a move which could save thousands of British jobs. Sky News understands that Teneo, which is handling Petrofac's insolvency, received a handful of bids for its profitable UK business late last week. City sources said the administrators wanted to sign a deal with a purchaser before the end of the year.

Bel Fuse said it will record an impairment charge of up to about $14 million because Innolectric, a company in which it owns a stake, is initiating insolvency proceedings, MarketWatch.com reported. Innolectic, a German charging technology company, began insolvency proceedings in November as it has recorded several years of losses and its majority owner will not be able to provide future funding, Bel Fuse said on Wednesday.

Yatra Online Limited announced a significant development regarding its wholly-owned subsidiary, TSI Yatra Private Limited, which was previously under Corporate Insolvency Resolution Process (CIRP), TipRanks.com reported. Following a settlement agreement with Ezeego Travels & Tours Ltd., TSI has resolved its financial dispute, leading to the withdrawal of insolvency proceedings. The National Company Law Appellate Tribunal (NCLAT) has directed the refund of a deposit made by TSI and the filing of a withdrawal application for the CIRP.

The Bank of England said on Thursday that it was launching a stress test of how the $16 trillion global private equity and private credit industries would deal with a major financial shock, Reuters reported. The central bank said the system-wide exploratory scenario will produce a final report in early 2027 which will focus on the impact on the British economy as a whole, rather than publishing details on the vulnerabilities of individual firms. "Private equity and private credit play an increasingly valuable role in helping UK companies to innovate, invest and grow.

Italy's Economy Ministry has ordered an in-depth review of ​existing safeguards against cryptocurrency risks, which ‌are seen potentially rising, the Bank of Italy ‌and other financial regulators said on Thursday, Reuters reported. "An in-depth review has been launched to assess the adequacy of existing safeguards for direct ⁠and indirect investments in ‌crypto-assets by retail investors," the regulators said in a statement.

Malaysian authorities are using drones and handheld sensors to crack down on Bitcoin mining operations stealing power from the grid, according to Bloomberg, Decrypt.com reported. Last month, Malaysia launched a special committee made up of staff from the Ministry of Finance, Bank Negara Malaysia and TNB to target illicit actors. The move is the latest in a series by authorities to rein in illegal mining, including a crackdown in May this year that shut down almost 2,400 operations. Among them was the seizure of 45 rigs in the northeast of the country.

India’s rupee slipped to yet another fresh low on Wednesday, pressured by capital outflows and continued uncertainty about a trade deal with the U.S., the Wall Street Journal reported. While most other countries in the region have negotiated pacts with the Trump administration, a India-U.S. agreement remains in limbo. Washington has slapped hefty 50% tariffs on India’s goods, and it remains unclear how much progress has been made after various rounds of talks. The Indian currency has plumbed a series of new lows versus its U.S.

Finland's unemployment rate has soared to one of the highest in the EU, and with no clear signs of a turnaround, experts say that it poses a challenge to the country's welfare model, AFP reported. Finland's unemployment rate for people age 15 to 74 reached 10.3% in October, the highest rate in the Nordic country since at least 2009, according to Statistics Finland. Figures from the European statistics agency Eurostat showed Finland's seasonally adjusted unemployment rate hit 9.6% in September, the second highest in the EU after Spain's 10.5%. The EU average was 6%.

Visa said on Thursday that it plans to launch operations in Syria, following ​an agreement with Syria's central bank on a roadmap ‌to develop a digital payments ecosystem, according to a company statement, Reuters reported. "The immediate ‌focus will be on working with licensed financial institutions to develop a robust and secure payments foundation. This includes issuing payment cards and enabling digital wallets using global standards," Visa said.