China will loan Venezuela $5bn to boost oil output, the Venezuelan president said in a televised broadcast from Beijing, in a show of continued support for the troubled Latin American economy from one of its main creditors, the Financial Times reported. China has lent $50bn to Venezuela in oil-backed loans secured under former president Hugo Chávez but has become much less enthusiastic about adding to its exposure as the Venezuelan economy has worsened. Venezuela is the eighth-largest oil supplier to China, primarily of heavy crude that trades at lower than benchmark prices.

China’s sudden decision last month to devalue its currency riled neighbors and fueled investors’ fears about a sharp slowdown in the world’s No. 2 economy. But the move has won over the International Monetary Fund and even secured restrained praise from the U.S. Treasury Department, The Wall Street Journal reported. The currency maneuver has positioned the Chinese government to press for a greater international role for the yuan during visits to a series of Group of 20 meetings starting this week and a visit to Washington later this month.

South Korean exports in August plunged 14.7% from a year ago, Business Insider reported. This was much worse than the 5.9% decline expected by economists. And it was the biggest drop since August 2009. This is a troubling sign, as Korea's exports represent the world's imports.

China is imposing fresh controls to prevent too much money from leaving the country, in an effort to keep badly needed funds at home to battle a deepening slowdown in the world’s No. 2 economy, The Wall Street Journal reported. The country’s central bank said Tuesday that it will make it more expensive for investors to pressure the yuan to weaken against the U.S. dollar by adding conditions to futures contracts. Some of the country’s largest lenders, including Bank of China Ltd.

Toshiba again delayed announcing its annual financial results on Monday, as new accounting errors prevented the company from drawing a line under Japan’s worst corporate scandal in four years, the Irish Times reported. Toshiba, which was scheduled to post its earnings for the business year ended in March, said the newly discovered problems included incorrect impairment charges on fixed assets at several subsidiaries and improperly timed booking of loss provisions at a US subsidiary.

China’s wobbly response to the bursting of its stock market bubble, the sudden devaluation of the renminbi and the mystery over the true health of the country’s economy continue to spook investors, large and small, the Financial Times reported. But China’s wealthiest people know exactly what to do in these bewildering times: get some of their money out. More than 60 per cent of wealthy Chinese people surveyed in July by FT Confidential, an investment research service at the FT, said they planned to increase their overseas holdings in the coming two years.

Troubled SVOD player Quickflix has again suspended trading in its shares on the stock market as it attempts a restructure and head off potential financial insolvency, mUmBRELLA reported.

To protect jobs and plants, the Chinese government and its state-owned banks sometimes keep money-losing businesses on life support by rolling over or restructuring loans, providing fresh credit or offering other aid. While this may seem like an odd business tactic, it is part of a broader strategy to help maintain social stability, a major goal of China’s leadership. Authorities in China’s provinces and cities also back struggling factories just because they are deemed important to the local economy. Similar strategies have been tried before, with little success.

In recent days, an advice column has circulated widely on China’s most popular social media phone app. Titled “Guide on Safe Passage Through the Economic Crisis,” it is aimed at young Chinese urban professionals, the International New York Times reported. Its nuggets of wisdom include: “Work hard at your job so you are the last to be laid off” and “In an economic crisis, liquidity is the number one priority.” Zhang Yuanyuan, 31, a bank teller in Shandong Province, is among the thousands of people who have shared it online.

With Australia on the cusp of a “looming liquidity crisis’’, corporate turnaround specialists have urged so-called safe harbour laws to protect directors and their advisers in informal corporate restructurings, The Australian reported. While the proposed reforms have been long pondered in Canberra’s corridors, Turnaround Management Association director Cameron Belyea said there was a heightened urgency ahead of the likely drying up of foreign capital, especially from the US.