Suruga Bank Ltd.’s top executives resigned after an independent panel found that weak governance led to a loan scandal that has rocked the Japanese regional bank, Bloomberg News reported. Chairman Mitsuyoshi Okano, a member of the founding family and architect of the company’s aggressive lending strategy, stepped down after the panel said he bears the greatest responsibility for the debacle. President Akihiro Yoneyama was replaced by Michio Arikuni, the Shizuoka-based bank said in a statement Friday.

Investors may grow more cautious of buying money market funds after IL&FS Financial Services Ltd. defaulted on its short-term borrowings, according to the Indian unit of Moody’s Investors Service, Bloomberg News reported. IL&FS Financial Services couldn’t repay some of its commercial papers on due date, though the company later settled the debt on Aug. 31, an exchange filing showed on Thursday. The default is likely to drive risk aversion among investors who have been piling into the commercial paper market as rising bond yields make long-term debt unattractive.

African leaders attending this week's summit with China don't think that cooperation between the continent and Beijing has added to their debt burden, the Chinese government's top diplomat said on Thursday. Chinese President Xi Jinping pledged $60 billion (46 billion pounds) to African nations at Monday's opening of a China-Africa forum on cooperation, matching the size of funds offered at the last summit in Johannesburg in 2015, the International New York Times reported on a Reuters story.

S&P Global Inc. is developing a custom credit-rating scale for China that will likely mean more triple-A’s, worrying investors about inflated grades, The Wall Street Journal reported. The credit-rating company, which is setting up an independent business in China, recently said it will tailor a system for rating bonds from businesses, local governments and other issuers there.

China has agreed to restructure some of Ethiopia’s debt, including a loan for a $4 billion railway linking its capital Addis Ababa with neighbouring Djibouti, Ethiopia’s Prime Minister Abiy Ahmed said on Thursday. Abiy described the rescheduling as limited, but added that repayment of the railway debt has been extended by 20 years, Reuters reported. Landlocked Ethiopia and the Red Sea state inaugurated the railway in January, with 70 percent of the total cost covered through a loan from the Export-Import Bank of China (EXIM).

As the Turkish lira plumbs the lower depths and the president’s finance minister son-in-law tours European capitals seeking support, Turkey-watchers could be forgiven a sense of déjà vu, the Financial Times reported in a commentary. In 2001, the currency suffered a devastating devaluation after the then president threw a copy of the constitution at the prime minister in a row over a corruption probe. This summer’s sharp slide in the lira, following US president Donald Trump’s punitive steel and aluminium tariffs, was a similar conflagration waiting to happen.

Investor anxiety about a missed debt payment by one of the world’s largest developing nations is jacking up the cost of credit-default swaps from the "BATS" -- Brazil, Argentina, Turkey and South Africa -- to multi-year highs, Bloomberg News reported. Argentina’s implied default probability over the next five years climbed this month to 41 percent, the highest since Mauricio Macri’s government ended the nation’s decade-long legal battle with most holdout creditors. Turkey’s implied default odds during that span rose to 31 percent, the highest since the 2008 global financial crisis.

The new hot thing for Chinese savers is about as old and boring as it gets. Bank deposits, shunned for years by the nation’s return-hungry masses, are suddenly looking attractive again as higher-yielding investments prove riskier than many had anticipated, Bloomberg News reported. China’s household deposits rose in July at the fastest annual rate in a year -- an influx that analysts say may accelerate after the nation’s stock market sank at the quickest pace worldwide, hundreds of peer-to-peer lending platforms shuttered and companies defaulted on their debt at an unprecedented rate.

Qatar Airways is reviewing plans for its own domestic Indian airline due to “confusing” foreign ownership rules and could work with a partner in India or take a stake in IndiGo instead, its chief executive said on Tuesday. The state-owned Gulf carrier has long coveted the Indian aviation market, which is the fastest growing in the world, and in 2017 said it would set up a domestic airline, a year after India eased foreign investment rules for the sector, Reuters reported.

China is helping Africa develop, not pile up debt, a top Chinese official said on Tuesday, as the government pushes back against criticism it is loading the continent with an unsustainable burden during a major summit in Beijing. President Xi Jinping pledged $60 billion to African nations at Monday's opening of a China-Africa forum on cooperation, matching the size of funds offered at the last summit in Johannesburg in 2015, the International New York Times reported on a Reuters story.