China’s new loans accelerated in June after a central bank interest rate cut in the middle of the month aimed at boosting credit demand, Bloomberg News reported. Aggregate financing, a broad measure of credit, was 4.2 trillion yuan ($583 billion), the People’s Bank of China said Tuesday. That was higher than the median estimate of 3.1 trillion yuan in a Bloomberg survey of economists, and compares with 5.2 trillion yuan in the same month a year ago.

The European Union and Australia have failed to conclude talks on a planned free trade agreement, a European Commission spokesperson said on Tuesday, Reuters reported. The EU and Australia opened negotiations in 2018 and had hoped to conclude talks this week. However, differences remained, particularly over the degree to which the EU will open its markets to Australian farm products, notably beef. "We regret it was not possible to conclude our talks with Australia this week. We made progress but more work is required to address key outstanding issues," the spokesperson said.

Some 27 percent of nursing homes and related service facilities in Japan may go bankrupt or shut down operations in a few years if soaring prices and utility costs continue to put pressure on them, according to a survey by nursing care groups, Kyodo News reported. "Nursing care facilities are not able to pass along cost increases to consumers in the same way as other companies, and this has a significant impact on their business," said an official of Minkaikyo, an association of nursing care providers.

A resolution professional appointed to oversee the insolvency process for Go Airlines (India) Ltd has invited Expression of Interest for the sale of the carrier as part of the process, the Economic Times of India reported. According to the advertisement placed in the Economic Times, the last date for receipt of interest for the airline is set for August 9.The EoI process means the formal commencement of seeking buyers, or investors, for a potential investment, as required by Indian law.

China's producer prices fell at their fastest pace in over seven years in June, while consumer prices teetered on the edge of deflation, adding to the case for policymakers to use more stimulus to revive sluggish demand, Reuters reported. The worsening factory-gate price deflation and the move by consumer prices towards deflation for the first time since February 2021 bode ill for China's economic growth.

South Korea's financial services regulator has asked major commercial banks to prepare around $4 billion in financing to support a credit cooperative hit by customer withdrawals, Reuters reported. An official at the Financial Services Commission said it could not confirm the amount or other details, but it had asked the banks for cooperation in preparing liquidity through repurchase-agreement facilities to aid MG Community Credit Cooperatives (MGCCC). "(Authorities) are closely monitoring the liquidity of MGCCC," the official said, declining to be named due to the sensitivity of the matter.

The European Union signed a free trade agreement with New Zealand on Monday that the two sides expect will increase bilateral trade by up to 30% within a decade, the Associated Press reported. New Zealand will gain up to 1.8 billion New Zealand dollars ($1.1 billion; €1 billion) in exports to the 27-country bloc every year, a government statement said. The European Union signed a free trade agreement with New Zealand on Monday that the two sides expect will increase bilateral trade by up to 30% within a decade.

Hong Kong's move to raise the maximum mortgages available to some homebuyers, its first relaxation in curbs on home purchases adopted in 2009, boosted shopping interest over the weekend but did little for transaction volumes, property agents said, Reuters reported. One of the world's most expensive property markets, the Asian financial hub raised its cap on the loan-to-value (LTV) ratio on Friday to 60% to 70% from 50%, for properties worth up to HK$30 million ($3.8 million).

Treasury Secretary Janet Yellen appealed to China’s No. 2 leader to not let frustration over U.S. curbs on access to processor chips and other technology disrupt economic cooperation during a visit Friday aimed at improving strained relations, the Associated Press reported. Meeting with Premier Li Qiang, Yellen said Washington and Beijing have a duty to cooperate on issues that affect the world. She appealed for “regular channels of communication” at a time when relations are at their lowest in decades due to disputes over technology, security and other irritants.

Sri Lanka’s Parliament has said that it has appointed a committee to probe into the country’s financial bankruptcy and submit recommendations on the matter, The Siasat Daily reported. Speaker Mahinda Yapa Abeywardena announced in Parliament on Thursday that the committee would be chaired by lawmaker of Sri Lanka Podujana Peramuna (SLPP) Sagara Kariyawasam, Xinhua news agency reported. Abeywardena said there are many allegations about the cause of Sri Lanka’s bankruptcy in 2022, and the committee is entrusted with investigating these allegations.