Bloomberg Hong Kong’s securities regulator froze the assets of an unnamed chairman of a public company on suspicion of fraud totaling $1.3 billion. The person may have conducted two suspicious transactions to make significant profits, the Securities and Futures Commission (SFC) said in a statement dated September 17 but published to the city’s official Gazette. It did not name the ...

Bloomberg The Indian government, which seized control of debt-laden financier Infrastructure Leasing & Financial Services Ltd., (IL&FS) has pledged to ensure the beleaguered lender has the money to prevent further defaults. Superseding the board of IL&FS, which has defaulted on more than five of its obligations, was essential to restore the confidence of the financial markets, according to a statement ...

Bloomberg Japanese Prime Minister Shinzo Abe kept his economic team including Finance Minister Taro Aso and added several first-time cabinet members in a reshuffle following his election last month to a third-straight term as ruling party leader. The Japanese prime minister, who’s in position to become Japan’s longest-serving premier, has said he would prioritize a divisive effort to change the ...