Realty developer Embassy Developments has secured relief from insolvency proceedings after the National Company Law Appellate Tribunal (NCLAT) set aside an earlier order admitting the company to the corporate insolvency resolution process (CIRP), the Economic Times of India reported. In a regulatory filing, the developer said the appellate tribunal has quashed the December 9, 2025 order passed by the National Company Law Tribunal (NCLT), New Delhi, which had admitted insolvency proceedings against it. As a result, the CIRP initiated against the company stands closed.
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The United Arab Emirates signed a new trade agreement with South Korea the day after it left OPEC, cutting tariffs on most traded goods, seeking an increase in trade exchanges and cementing economic ties between the two countries, as part of a wider push by the Gulf states towards Asia, EuroNews.com reported. The agreement marks South Korea’s first trade pact with a country in the Gulf Cooperation Council and the wider Middle East and North Africa region, at a time when supply chains and wider geopolitical dynamics are reshaping global trade.
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Japan likely spent around $34.5 billion Thursday in its first currency intervention to prop up the yen since July 2024, according to a Bloomberg analysis of central bank accounts. The scale of intervention was probably around ¥5.4 trillion, based on a comparison of Bank of Japan accounts released Friday and money broker forecasts. In 2024, authorities spent an average of ¥3.8 trillion on four occasions to support the yen. This was the first intervention under the direction of Finance Minister Satsuki Katayama and the first since Sanae Takaichi became prime minister.
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South Korea’s exports surged again in April, driven by semiconductor shipments, signaling resilience in the trade-dependent economy despite geopolitical risks stemming from the Middle East conflict, the Wall Street Journal reported. Semiconductor shipments, which account for about a quarter of the country’s total exports, nearly tripled from a year earlier on strong demand from global technology companies building artificial-intelligence infrastructure.
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Japan has signed a $2.2 billion loan agreement for the first batch of projects under its $550 billion U.S. investment pledge, kicking off financing tied to a trade deal that cut U.S. tariffs on Japanese imports to 15%, Reuters reported. State-owned Japan Bank for International Cooperation said on Friday it would provide about a third of the $2.2 billion financing, with the rest provided by commercial banks.
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Saddled by billions in crushing debt owed to Beijing, the Zambian government helped a Chinese-owned mining giant cover up one of the worst mining pollution incidents in the country’s history, according to an investigation by a U.S. House Select Committee on China, the Wall Street Journal reported.
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