China’s central bank called on the financial sector to help fund technology research and M&A deals, the latest in a string of promises to revive a private sector devastated by a two-year regulatory crackdown. A plethora of Beijing officials have in recent weeks talked about measures to prop up private firms, regarded as key to resuscitating a sputtering economy. On Thursday, the central bank asked lenders and financial markets to provide more support for innovation and tech-related acquisitions, and to boost investment in startups.

Turkey’s new central bank governor delivered a sobering assessment on inflation but pledged to stick with a “gradual” cycle of monetary tightening despite more than doubling the forecast for price gains, Bloomberg News reported. At an event on Thursday that marked her public debut, Governor Hafize Gaye Erkan had the task of restoring the credibility of an institution in need of rehabilitation in the eyes of the markets after years of unconventional measures championed by President Recep Tayyip Erdogan. Erkan, appointed last month after long stints in the US at Goldman Sachs Group Inc.

The dovish Bank of Japan faced a tough two-day policy-setting meeting that started Thursday due to potentially changing inflation dynamics, with edgy financial markets seesawing over whether its controversial yield cap program will be modified. The BOJ is widely expected to revise upward its earlier inflation forecast for the current fiscal year to next March, given more evidence that price hikes, initially prompted by surging fuel and raw material costs, have been broadening in a notable change for the once deflation-mired nation, the Japan Times reported.

Australia’s two biggest states will struggle to return their budgets to surplus as the economy sags under central bank rate hikes that also sent government borrowing costs soaring, according to ratings agency Moody’s Investors Service, Bloomberg News reported.

National Company Law Tribunal has appointed EY-backed Shailendra Ajmera as resolution professional (RP) of Coffee Day Global, according to an order uploaded on its website, the Economic Times of India reported. The bankruptcy court has admitted Coffee Day Global company for insolvency proceedings on the behest of IndusInd Bank, which filed a claim in court that the company had defaulted on term loans of Rs 115 crore that were disbursed to it in 2019. Ajmera is also the resolution professional of insolvent Wadia group airline, Go First.

More than one in five young people in China are jobless. The government casts much of the blame on the job seekers themselves, insisting that their expectations have gotten too high, the Wall Street Journal reported. Young people need to stiffen their spines and embrace hardship, says leader Xi Jinping, who labored in the countryside in China’s Cultural Revolution. If they can’t find jobs they want, they should work on factory lines or engage in poverty relief in rural China. The government’s guidance is ringing hollow with many young people.

Turkey’s central bank has rolled out new measures to curb credit-card spending and limit loans to some industries as it leans on backdoor tightening to get a grip on inflation without crashing the economy, Bloomberg News reported. Days after a second interest-rate hike that fell short of expectations, policymakers announced rule changes that will make it more costly for consumers to use credit cards for cash withdrawals. The central bank is also imposing a stricter growth limit on car loans and some commercial credit, according to its announcement on Tuesday.

Some holders of a $400 million bond issued by Wanda Properties Overseas have received payments on the note which matured on Sunday, Reuters reported. However, holders of a bond issued by another unit of China's largest commercial real estate developer Dalian Wanda Group, Wanda Properties Global, had not received a coupon payment by Tuesday on a note maturing in 2025, one of the sources added.

Sri Lanka eased restrictions on the foreign-exchange market to allow companies and individuals to send more dollars abroad. The rupee weakened a 15th day, Bloomberg News reported. Local companies would be allowed to transfer as much as $100,000 to set up or expand an overseas business, effective for six months starting from June 28, the central bank said in a statement on its website late Monday. The rupee fell 0.4% to 330.37 per dollar on Tuesday.