When the U.S. joined Japan's efforts to shore up the yen, it wasn't for nothing. This week, U.S. Treasury Secretary Scott Bessent spelt out the terms: get busy on interest ​rate hikes and end outdated ideas about big economic stimulus, Reuters reported. A month after a rare joint U.S.-Japan intervention to prop up the yen, Bessent showed little ‌appetite for another market foray by telling Reuters recent yen moves were not disorderly. Instead, he expressed hope Bank of Japan Governor Kazuo Ueda would "do the right thing" on monetary policy to combat a weak yen.

Australian home prices fell for a fifth month in August as the housing downturn spread to more cities and ‌regional areas, data showed on Tuesday, with the risk of more policy ‌tightening pointing to tougher conditions ahead, Reuters reported. Figures from property consultant Cotality showed national home prices fell 0.9% ​in August from July when they dropped by a downwardly revised 1.2%. That left values 3.6% below their peak, but still 2.7% higher than a year ago. Sydney and Melbourne again led the monthly decline with falls of 1.4% and 1.1%.

Hindusthan National Glass and Industries Ltd (HNGIL) has served a default notice on B9 Beverages Ltd, the maker of the Bira 91 range of beer, as it plans to drag the debt-ridden brewer to the insolvency tribunal NCLT, the Economic Times of India reported. HNGIL, a container glass manufacturer, has issued the notice under Section 8 of the Insolvency and Bankruptcy Code (IBC), a mandatory step before filing an application for commencement of the Corporate Insolvency Resolution Process (CIRP).

The National Company Law Appellate Tribunal (NCLAT) on Monday agreed to hear an urgent plea by several creditors including LIC Housing Finance, HDFC Bank and Union bank of India, challenging the National Company Law Tribunal (NCLT) Delhi bench’s approval of Zee Group founder Subhash Chandra’s repayment plan, LiveMint.com reported. Solicitor General Tushar Mehta, appearing for the creditors, urged the appellate tribunal to take up the matter urgently. The NCLAT agreed to hear the challenge on Tuesday at 10:30 am.

China's factory activity improved marginally in August as export demand remained robust, though overall manufacturing still was in a contraction, the Associated Press reported. China's official manufacturing purchasing managers' index, or PMI, recovered slightly to 49.8 in August from 49.2 in July, according to the National Bureau of Statistics. Chinese exports jumped almost 24% in July from the year before, and more than 18% in the first seven months of this year, supported by strong demand for high-tech exports like semiconductors thanks to the boom in artificial intelligence.

India’s economy maintained a solid pace of growth in the April-June quarter, showing resilience even as the Middle East conflict clouded the outlook, the Wall Street Journal reported. Gross domestic product grew 7.8% from a year earlier in the three months ended June, government data showed Monday. That compared with revised 8.6% growth in the previous quarter. Manufacturing output rose 9.2% from a year earlier, accelerating from 8.3% growth in the same period last year. Government expenditure grew 4.3%, while construction activity and private consumption growth also strengthened.

Turkey's economy expanded 2.3% year-on-year in the ‌second quarter, official data showed on ‌Monday, less than forecast, with growth slowing ​for the fourth consecutive quarter, Reuters reported. Second-quarter gross domestic product (GDP) grew 1.1% from the previous quarter on a seasonally and calendar-adjusted ‌basis, Turkish Statistical ⁠Institute data showed. The strongest ‌growth by activity was shown by agriculture, forestry and fishing, which expanded 13.3% , while information and communication grew 8.6%, the data showed.

Media baron Subhash Chandra on Thursday said the total claim against him in the personal insolvency proceedings is only "Rs 3,992 crore", for which he was only a personal guarantor and not the borrower, the Economic Times of India reported. In a statement reacting to dissenting creditors' claims of Rs 22,000 crore against him, Chandra said he "has not borrowed any money from any lender". "Total claim against Subhash Chandra as a personal guarantor, in the personal insolvency proceedings, is only Rs 3,.992 crore by the objectors of the plan and not Rs 22,000 crore," he said.

Japan spent $98.7 billion to prop up the yen in the past month in a joint action with the U.S., a record intervention that has had a modest impact so far, the Wall Street Journal reported. The yen has given up many of its initial gains, highlighting the limitations of government efforts to move prices in financial markets. The U.S. has also tried to stem a rise in bond yields, again with limited success.