Bank of China Vice Chairman and President Liu Jin resigned for personal reasons effective on Sunday, the bank said, Reuters reported. The state-owned lender said that its board had approved Chairman Ge Haijiao to serve as acting president, according to a filing released by the bank on Sunday.

Home insurance is becoming unaffordable for a growing number of Australian households as increased climate threats drive up their premiums, potentially putting billions of dollars in mortgage loans at risk, a report said on Monday, Reuters reported. As of March 2024, 15% of Australian households were experiencing home insurance affordability stress, which is defined as having premiums that cost more than four weeks' of their incomes, the report from the Actuaries Institute found.

Yuzhou Group Holdings Co. filed for Chapter 15 bankruptcy Thursday in New York, a move by the defaulted property developer to seek US court recognition for its offshore debt restructuring and ward off litigation, Bloomberg News reported. The Chinese builder, which failed to pay $2.9 billion of dollar notes with interest as of the end of 2023, is undergoing restructuring in Hong Kong and Cayman Islands. Read more.

Energy Absolute Pcl obtained approval to extend the maturity of 4 billion baht ($116.5 million) of green bonds, providing some relief for the Thai renewable energy company that’s under a fraud investigation, Bloomberg News reported. The shares surged the most in more than a decade. Holders of the debt papers on Friday agreed to push back the maturity period by nine months to June 30, 2025, the company said in an exchange filing on Friday. Along with the extension, Energy Absolute also obtained their approval to pay 1.8% additional interest on the notes, payable every six months.

Bangladesh’s new central bank governor said the country is seeking an additional $3 billion from the International Monetary Fund as it looks to recover from recent political turmoil, and is buying dollars from local banks to meet unpaid debt, Bloomberg News reported. The South Asian country has begun talks with the Washington-based IMF for the additional loan, central bank Governor Ahsan H. Mansur said in an interview in the capital Dhaka. Bangladesh secured $4.7 billion in funding from the IMF last year.

Bank of Japan Gov. Kazuo Ueda reaffirmed that he is open to more interest-rate increases, clearing up doubts about the central bank’s intention to continue on its path of policy normalization, the Wall Street Journal reported. “There is no change to our basic stance of adjusting the level of monetary easing going forward if we can confirm that the outlook for the economy and prices is more likely to realize as we expect,” Ueda said in a parliamentary session Friday. The BOJ governor’s comment fueled rate-hike expectations, causing the yen to strengthen against the dollar.

China is cranking up its massive export machine again, and this time there’s nowhere for competitors to hide, the Wall Street Journal reported. A Massachusetts startup called CubicPV bet on silicon wafers, a high-tech component in solar panels. Buoyed by President Biden’s climate legislation enacted two years ago, with billions of dollars in tax credits and government loans, CubicPV announced plans in late 2022 for a $1.4 billion wafer plant in Texas. Since then, China has nearly doubled its output of silicon wafers, way more than it needs.

PwC China has informed its clients it expects a six-month business ban by Chinese authorities as early as September as part of punishment for its audit of collapsed property developer Evergrande, the Financial Times reported. The ban would prevent it from signing off on financial results and initial public offerings and from conducting other regulated activities, the report stated, citing multiple clients. PwC has been under scrutiny for its role in auditing Evergrande since the troubled property developer was accused in March of a $78-billion fraud, leading to an exodus of clients.

The insolvency of Indian education technology company Byju's threatens to be the biggest upset in a celebrated startup sector, unleashing a long battle by thousands of panic-stricken employees to recover dues and protect their careers, Reuters reported. Once a darling of global investors, valued at $22 billion in 2022, Byju's became popular by offering online training courses during the COVID-19 pandemic, but is now locked in a dispute with U.S. lenders seeking $1 billion in unpaid dues.

South Korea’s central bank held interest rates steady but cut its inflation and growth forecasts for the year and signaled that it will pivot to easing in the coming months, the Wall Street Journal reported. The Bank of Korea on Thursday kept its benchmark seven-day repurchase rate unchanged at a 15-year high of 3.50% for a 13th consecutive time—the longest such run in the country. Twenty-four of the 27 analysts polled by The Wall Street Journal ahead of the decision had expected no rate change in August, but all forecast a rate cut in October or November. BOK Gov.