India plans to set up a special bench of the National Company Law Tribunal (NCLT) with trained manpower to handle cross-border insolvency cases once the new bankruptcy rules are notified, to fast-track proceedings, the Economic Times of India reported. The cross-border framework, approved last month as part of amendments to the Insolvency and Bankruptcy Code (IBC), will be based on a model UN law with modifications to suit the Indian context.

Strong investments in rail lines and other infrastructure offset weak consumer spending and a shrinking trade surplus as the Chinese economy continued to grow in the first three months of the year, the New York Times reported. China’s National Bureau of Statistics announced on Thursday that the country’s gross domestic product grew 1.3 percent from the last three months of 2025. If that pace continues through the year, the Chinese economy will expand at an annual rate of about 5.3 percent.

Japan said it would provide about $10 billion in financial support to help Southeast Asian nations cope with soaring oil prices that threaten production of petroleum-derived products in the region, the New York Times reported. Japan’s prime minister, Sanae Takaichi, announced the initiative on Wednesday at a regional forum that included Japan and major Southeast Asian economies such as Thailand, Vietnam, the Philippines and Malaysia. The pledge comes as much of Asia is being buffeted by disruptions in oil supplies stemming from the war in the Middle East.

An electric vehicle sales company based in the city of Kitakyushu, Fukuoka Prefecture, southwestern Japan, has filed for bankruptcy protection with Tokyo District Court under the civil rehabilitation law, Nippon.com reported. The application, filed Tuesday, was accepted immediately, EV Motors Japan Co. said the same day. Liabilities left by EVMJ totaled 5.7 billion yen.

The founder of China Evergrande ‌Group, the world's most indebted property developer, pleaded guilty ‌to charges including misuse of funds, fundraising fraud and illegally taking public ​deposits, a court in China's southern city of Shenzhen said, Reuters reported. The company has defaulted since 2021 on most of its $300 billion in liabilities as well as billions of dollars of wealth ‌management product payments, in ⁠troubles emblematic of China's property sector woes that have long dragged on economic growth.

The National Company Law Tribunal (NCLT) has directed initiation of insolvency proceedings against Videocon's former chairman and MD Venugopal Dhoot for defaulting on loans of Rs 6,158 crore, as a personal guarantor of two group companies, the Times of India reported. Admitting a plea from State Bank of India (SBI), NCLT said Venugopal Dhoot has "committed defaults in repayment of loan amount" granted by the financial creditor.

Australia's corporates are starting to count the cost of the war in the Middle East, with profit warnings from two top companies and a crash in business sentiment pointing to ‌pain from rising prices, raising the risk of stagflation, Reuters reported. The country's top airline Qantas Airways and second largest lender ‌Westpac Banking Corp flagged their earnings could be hurt by soaring fuel prices and the impact on customers, as feared by the country's central bank.

Corporate bond issuance in Japan is poised to breach a record this year on growing funding demand for mergers and acquisitions as the economy continues to move away from three decades of deflation, Bloomberg News reported. The appetite for funds is outweighing concerns about the Middle East conflict after the U.S. and Iran failed to reach an agreement as the war enters its seventh week. Yen bond issuance in Japan has been unfazed, with sales rising 94% in March on a year earlier. That’s more than four times faster than all global corporate debt combined, according to compiled data.

The International Monetary Fund said on Tuesday it expected the Bank of Japan to raise interest rates gradually, but at a ​slightly faster pace than projected six months ago, Reuters reported. After Japan's economy expanded ‌1.2% in 2025, growth is projected to slow to 0.7% in 2026 and 0.6% in 2027, the IMF said in its World Economic Outlook report, roughly unchanged from its ​forecasts in October. The effect of the government's fiscal stimulus package and ​steps to curb fuel bills will offset headwinds from weaker overseas ⁠demand and the Middle East conflict, the report said.

A Beijing court has ordered the liquidation of Zhongzhi Enterprise Group and more than 300 related ​entities, in a major step towards resolving one ‌of China's biggest shadow banking collapses and managing systemic financial risks, Reuters reported. Creditors have until June 10 to file their claims with the ​administrator, Beijing Dacheng Law Offices, according to a ​court statement dated on Friday evening.