Is it time to worry about India’s foreign exchange reserves?
Also in this newsletter: government to invest $4bn in coal gasification
Economic news
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SEC settles Adani case as US authorities move to end actions against Asia’s richest man
Indian tycoon had lobbied Trump administration and pledged billions of dollars of investment in America
Hong Kong listings boom sparks legal hiring spree
The revival in deal activity has law firms rebuilding their teams
Fallout from China housing slowdown grinds on in offshore courts
Bondholders might balk at the recoveries offered so far, but any remedies involve complex negotiations
Emerging markets face Iran shocks with more debt, and less danger
Market reform has meant that large debts today are much less destabilising than smaller sums were in the past
AI chipmaker jumps to almost $70bn valuation in IPO
Jump in share price of Cerebras underscores strong demand for shares in companies linked to AI boom