Despite the festive atmosphere of the holiday season, suppliers and creditors of US fashion accessories chain Claire’s – including about 70 from Hong Kong, mainland China and across Asia – face financial anxieties as they grapple with the uncertain prospects of recovering debts following the retailer’s recent bankruptcy filing, the South China Morning Post reported. Some have already taken legal action, though the outcome of their claims remains unclear.

German exporters should prepare for continued weakness in 2026 in their two largest markets, the United States and China, with little prospect of recovery, the BGA trade association said on Friday, Reuters reported. "We do not see a turnaround, but at best a brief respite," said BGA president Dirk Jandura. Exports to the U.S. are projected to have fallen more than 7% to just under 150 billion euros ($156 billion) in 2025, while exports to China have contracted even more sharply, dropping 10% to 81 billion euros, GTAI figures show. U.S.

South Korea's factory activity expanded in December, after two months of contraction, on a rebound in export demand, a private-sector survey showed on Friday, with manufacturers' optimism surging to a 3-1/2-year high, Reuters reported. The purchasing managers index (PMI) for manufacturers in Asia's fourth-largest economy, published by S&P Global, stood at 50.1 in December, just above the 50-mark separating expansion from contraction, after two consecutive months at 49.4.

Turkmenistan officially put into effect the Law on Virtual Assets legalizing cryptocurrency mining and crypto exchanges as it looks to boost economic development and attract foreign investment, CoinDesk.com reported. The new rules, which President Serdar Berdimuhamedov signed into law on Nov. 28, provide a framework for the use, creation and exchange of virtual assets in the country. A 2025 study on Organization of Islamic Cooperation (OIC) member states, which include Turkmenistan, concluded that allowing crypto is good for the economy.

India’s Insolvency and Bankruptcy Code (IBC) framework in 2025 was marked by mounting stress on timelines and capacity, with resolution processes stretching far beyond the statutory limits, despite efforts by the National Company Law Tribunal (NCLT) to cope with its limited capacity, The Week reported.

Creditors have realised Rs 4 lakh crore under the resolution plans initiated under the Insolvency and Bankruptcy Code through September 30, 2025, according to a Reserve Bank report on Wednesday, the Economic Times of India reported. Since the provisions relating to the corporate insolvency resolution process came into force in December 2016, a total of 8,659 CIRPs have been initiated until September 30, 2025, of which 6,761, or 78.1 percent, have been closed. The primary objective of the Insolvency and Bankruptcy Code is rescuing corporate debtors (CDs) in distress.

Two large outstanding accounts, cited as the reason for the liquidation of a long-running South Canterbury electrical, refrigeration and heat pump company last year, are yet to be paid, ThePress.co.nz reported. Siebers International provided services across South Canterbury for more than 40 years, before it was put into liquidation by shareholder resolution in November 2024, with owner Peter Siebers saying he hoped liquidators would “pick up the fight” over “two very large contractual disputes”.

Free schemes and subsidies, often known as 'freebies,' have been known to be a recipe for winning elections in state elections, but now this has become a major problem for the declining state economies, Bhaskar English reported. According to reports, states are not able to provide money for electricity, roads and housing. After providing funds for subsidies, salaries, pensions and interest payments, states are often left with only 20-25% of their total earnings. The debt of states like Madhya Pradesh, Rajasthan, Punjab and Bihar is about one-third or more compared to their GDP.

China will impose an added 55% tariff on beef imports that exceed quota levels from key suppliers including Brazil, Australia and the U.S. in a move to protect its domestic cattle industry, Reuters reported. China's commerce ministry said on Wednesday the total import quota ​for 2026 for countries covered under its new "safeguard measures" is 2.7 million metric tons, roughly in line with the record 2.87 million tons it imported overall in 2024. The new ‌annual quota levels are lower than import levels for the first 11 months of 2025 for top supplier Brazil, and Australia.