Turkey’s central bank governor delivered his most emphatic message yet to foreign investors worried about premature easing, saying he wants to ensure he can meet inflation goals beyond this year before discussing interest-rate cuts, Bloomberg News reported. “Any actions we take on policy rates should be calibrated so as to hit the inflation target in 2025 and beyond,” Fatih Karahan told Bloomberg in the first sitdown interview he’s given since being appointed more than five months ago.

South Korea’s central bank held its base rate steady in a move that was widely anticipated but came alongside growing expectations that it could be gearing up to pivot toward policy easing in the coming months. The Bank of Korea on Thursday left its benchmark seven-day repurchase rate unchanged at a 15-year high of 3.50% for a 12th straight time—the longest such streak ever.

Just 19 of China’s 137 current electric car brands will be profitable by the end of the decade, leaving the rest to exit the industry, consolidate or battle for a minor market share, according to consultancy Alixpartners, Bloomberg News reported. A price war that has been running for almost two years has pressured margins at some Chinese EV makers, and could continue as dominate players like BYD Co. and Tesla Inc. seek to consolidate their dominant positions.

A company linked to the Chinese businessman who led the buyout of AC Milan in 2017 is being sued over unpaid debts by a group of investment firms, Bloomberg News reported. Five claims have been filed against British Virgin Islands-based Rossoneri Advance Co. Ltd. involving a combined $187 million in debt due and owed, according to court documents dated July 4. The five plaintiffs are suing for debt, damages, accrued interest and other claims.

A surprise return to profit has propelled Vietnam Airlines JSC to become the world’s best performing airline stock this year, shrugging off the risk of bankruptcy as the company’s post-pandemic recovery finally picks up momentum, Bloomberg News reported. The state-owned carrier has rallied 179% so far in 2024, lifted by a rebound in travel demand. That steered the company to post a bumper first quarter profit after more than four years of consecutive losses.

China's Ministry of Finance is conducting more rigorous checks of work done by the Big Four auditing firms for local companies, three people with knowledge of the matter said, amid concerns auditors are not doing enough to uncover corporate wrongdoing, Reuters reported. The tighter scrutiny, which has not been previously reported, is mainly focused on Deloitte, EY, PwC, KPMG and their audits of some financial firms as well as highly leveraged companies, said the people.

China’s consumer inflation remained tepid last month while factory-gate prices continued to fall, pointing to persistently lackluster demand despite Beijing’s efforts to juice up consumption, the Wall Street Journal reported. The country’s consumer-price index rose for a fifth consecutive month in June, edging up 0.2% from a year earlier, the National Bureau of Statistics said Wednesday. That missed the 0.4% rise expected by economists in a Wall Street Journal poll and compared with May’s 0.3% increase.

The China Securities Regulatory Commission is tightening rules on short selling and high-frequency trades in a bid to crack down on improper arbitrage and maintain market stability, Bloomberg News reported. The market watchdog approved the mainland stock exchanges to boost margin requirements in short selling, starting July 22. Meanwhile, China Securities Finance Corp., the country’s biggest stocks lending provider, will suspend its business of lending securities to brokerages starting July 11, with outstanding contracts to be settled by the end of September, the CSRC added.

The Reserve Bank of New Zealand held its official cash rate steady at 5.50% on Wednesday, staying in what central bank Gov. Adrian Orr likes to call watch-worry-and-wait mode, the Wall Street Journal reported. Still, the RBNZ’s cautious narrative softened somewhat amid an admission that inflation pressures are starting to ease. “Restrictive monetary policy has significantly reduced consumer price inflation, with the committee expecting headline inflation to return to within the 1 to 3 percent target range in the second half of this year,” the central bank said in a statement.

China Vanke Co. warned that losses grew substantially in the second quarter, with the big homebuilder saying that investment in some projects “has been over-optimistic,” Bloomberg News reported. The firm, whose woes this year have been emblematic of the ongoing slump in China’s property sector, said in a Hong Kong stock exchange filing that it expects to post a first-half loss of 7 billion yuan (US$962 million) to 9 billion yuan. That signals a sharp downturn from the first quarter, when it reported a 362 million yuan loss. “The company deeply apologises for the performance loss,” it said.