The worst of the plunge in China’s yuan should be behind us. That’s the view of Charles Feng, head of macro trading for Greater China at Standard Chartered Plc., even as drama in Turkey rattles markets worldwide, Bloomberg News reported. Factors pressuring the yuan -- such as trade tension and easing China monetary policy -- are almost priced in, while there’s limited room for the dollar to rise further, he said. Investors could also start seeing a bottom for mainland stocks, which are down more than 20 percent from this year’s peak.

Investors are fretting about emerging markets again. Turkey is the front-burner concern at the moment, but what really is getting people’s attention is the prospect that the financial problems there could spread to other fast-growing but risky countries, the International New York Times reported. If history is any indication, that has the potential to quickly turn a local crisis into a global one. Or maybe not. Over the last week the value of the Turkish lira collapsed by more than 20 percent, shocking financial markets.

In a related story, The Irish Times reported that Turkey’s economic crisis poses a threat to European banks with business in the country. Spain’s BBVA, Italy’s UniCredit, France’s BNP Paribas, Dutch bank ING and Britain’s HSBC are the most exposed to Turkey and vulnerable to its free-falling currency. Analysts see as manageable even a worst case scenario which they deem unlikely at present – under which these banks would be forced to write off completely their local operations or exit the country.

Rodrigo Duterte was sworn in as Philippine president more than two years ago on a promise to be different from his predecessors. Like them, however, he is proving vulnerable on inflation and that will prove a challenge for his legislative agenda, the Financial Times reported. FTCR’s Economic Sentiment Index for the Philippines dropped to 48.9 in the second quarter, marking the first time consumers have turned pessimistic since the fourth quarter of 2015, and since Mr Duterte took office in June 2016.

JB Hi-Fi expects to see another year of declining revenues on this side of the Tasman as the ASX-listed discount consumer electronics retailer attempts to drive profitability in its New Zealand unit, The New Zealand Herald reported. The local division of the Melbourne-based company widened its loss before interest and tax to $2.9 million in the 12 months ended June 30 from an ebit-loss $2.7 million a year earlier. Not only did margins shrink, but revenue dipped 1.1 per cent to $231.5 million with the closure of one store and exit from whiteware goods.

The chairman of one of India’s biggest state lenders has urged the government to give up appointing top bank executives, arguing the move would boost management standards in a crucial sector struggling to recover from a bad debt crisis, the Financial Times reported. “Through a random process, which has some combination of the individual’s choice and the government’s wisdom, people show up,” Ravi Venkatesan, chairman of Bank of Baroda, told the Financial Times. “You could have a gentleman from a small bank suddenly thrust into an executive director role at a large bank.

It was not so long ago that investors were speculating just when Chinese regulators would allow the first onshore bond to default, the Financial Times reported. Now, the authorities are rushing to provide liquidity relief to calm a surge in bond market failures. The government must act because the defaults represent collateral damage in its broader campaign to rein in excess borrowing in the financial system. Private companies have suffered most, exposing vulnerabilities in a sector that is largely responsible for creating jobs in the Chinese economy.

Turkish President Recep Tayyip Erdogan is showing no signs of backing down in a standoff with the U.S. that rattled markets. As investors worry about Turkey sliding toward a full-blown financial crisis, the big question now is how far the pain may spread, Bloomberg News reported. “I call out to those in the United States. It is a shame. You are trading a strategic NATO ally for a pastor,” Erdogan said Saturday during a rally in the Black Sea port of Ordu, referring to the U.S. decision to sanction Turkey for its imprisonment of an American priest.

Indian authorities arrested a former managing director of Bhushan Steel Ltd on Thursday over an alleged fraud, after a probe found billions of rupees had been siphoned off by the firm’s founders from funds borrowed from state-run banks, Reuters reported. Neeraj Singhal, a member of the founding family, was presented before a court and will be held in judicial custody until Aug. 14, the Ministry of Corporate Affairs said in a statement.

Jet Airways India Ltd., the Mumbai-based carrier trading at the lowest since June 2015 on deteriorating finances and rising default risk on its debt obligations, said it is servicing all its loans on time in spite of surging fuel prices, Bloomberg News reported. “We are regular in all our payment obligations to all our banks and statutory dues including provident fund obligations. Our account with all the banks as on date is standard,” the company said in an emailed statement on Saturday.