Chilean President Gabriel Boric embarks on his first trip to China with an ambitious agenda that seeks deals to make the country’s economy more efficient and help it develop beyond its traditional commodities exporter role, Bloomberg News reported. “We want to move toward a new stage that includes investments in the country that help us improve productivity,” Chile International Economic Relations Undersecretary Claudia Sanhueza said in an interview ahead of Boric’s first trip to the Asian country next week.

After weathering decades of deflation and stagnant growth, Japan is seeing an investment boom that has made apartments in central Tokyo unaffordable for young Japanese professionals, Reuters reported. The flood of investment drove the average price for a new condominium in central Tokyo up 60% to a record 129.6 million yen ($865,000) in the first half of this year, according to the Real Estate Economic Institute. For locals, the surge in prices has made Tokyo the second most unaffordable city worldwide, only behind Hong Kong, according to a UBS global real estate report.

The lenders of Future Retail Ltd have rejected the bid submitted by Space Mantra for the debt-ridden firm, which is currently going through Corporate Insolvency Resolution Process (CIRP), the Economic Times of India reported. The Resolution Plan submitted by Space Mantra for Future Retail Ltd (FRL), failed to get the required number of votes in the e-voting process of the Committee of creditors (CoC). It was put "for the consideration of the CoC on July 19, 2023...

Singapore authorities seized or froze assets worth more than S$2.8 billion ($2 billion) in one of the city-state’s largest money laundering investigations, a senior official said on Tuesday while signaling the government could tighten immigration rules to curb illicit inflows, Bloomberg News reported. The amount disclosed to parliament by Second Minister for Home Affairs Josephine Teo is higher than the S$2.4 billion previously announced. The assets included 152 properties, 62 vehicles, thousands of bottles of liquor, cryptocurrencies, gold bars and jewellery.

Turkish inflation accelerated to the fastest this year as higher energy costs complicate efforts to contain domestic demand with jumbo interest-rate hikes, Bloomberg News reported. With services and food costs on the rise, the pace of annual price gains jumped to 61.5% last month from almost 59% in August, according to Turkey’s statistical office. It accelerated for a third straight month and came in line with forecasts.

Pressure is building on Beijing to intervene more forcefully to restore confidence in its reeling property market, the Wall Street Journal reported. In the latest sign of stress for the market, people with knowledge of Beijing’s decision-making said authorities are investigating whether Hui Ka Yan, the billionaire founder of heavily indebted property developer China Evergrande Group, attempted to transfer assets offshore while the company was struggling to complete unfinished projects.

Pressure is building on Beijing to intervene more forcefully to restore confidence in its reeling property market, the Wall Street Journal reported. In the latest sign of stress for the market, people with knowledge of Beijing’s decision-making said authorities are investigating whether Hui Ka Yan, the billionaire founder of heavily indebted property developer China Evergrande Group, attempted to transfer assets offshore while the company was struggling to complete unfinished projects.

Japan's factory activity fell at the fastest pace in seven months in September, a survey showed on Monday, as worsening global economic conditions continued to weaken demand, Reuters reported. The final au Jibun Bank Japan manufacturing purchasing managers' index (PMI) fell to 48.5 in September from 49.6 in August and roughly in line with the flash reading of 48.6. The index has remained below the 50.0 point threshold that separates growth from contraction for four straight months.

Australian home prices stayed strong in September, driven by soaring demand and outweighing the impact of the central bank’s aggressive policy tightening campaign, Bloomberg News reported. Sydney prices, the national bellwether, advanced 1%, down slightly from the previous month, property consultancy CoreLogic Inc. said in a report Monday. Adelaide led September’s gains — climbing 1.7%. In the more expensive cities — Sydney and Melbourne — the broad middle of the market is recording the highest growth rate after previously being led by the upper quartile, CoreLogic said.