The Indonesian rupiah just had the worst quarter in more than a year, and analysts see more losses ahead, Bloomberg News reported. The currency broke the closely watched 15,400 level last week, and there is a possibility it may test this year’s low of 15,638, according to Malayan Banking Berhad. Higher crude prices threaten to worsen the net oil-importing nation’s finances, and that along with higher US yields and a stronger dollar are likely to weigh down the rupiah.

Germany has welcomed a show of support from China for the G20 debt restructuring framework for poorer countries in a joint statement after their financial dialogue in Frankfurt over the weekend, Reuters reported. "We welcome the fact that the Chinese side is also committed to this in our Joint Statement, because solutions are inconceivable without China as such an important player in world politics," German Finance Minister Christian Lindner said on Sunday, after his meeting with Chinese Vice Premier He Lifeng.

Just a few weeks ago, China Evergrande, the world’s most debt-saddled real estate developer, was writing its next chapter and working to resolve financial disputes with its creditors. Then a stream of bad news came and the pages were torn up, the New York Times reported. Staff at the company’s wealth management arm have been detained by the authorities. Two former top executives are reportedly being held, and its billionaire chairman is under police surveillance.

Ebix Inc. Chief Executive Officer Robin Raina received a $1.8 million bonus last week, even as a Sept. 30 deadline looms for the company to repay a loan of more than $600 million to a syndicate of US banks without having the cash on hand, Bloomberg News reported. Ebix, based in Johns Creek, Ga., disclosed the bonus in a regulatory filing Monday. It said that $1.2 million of the bonus was paid on Sept. 19, the day the board awarded it to Raina. The remainder will be paid in October, according to the filing.

China’s gigantic real estate bubble has popped, but despite the market’s prolonged downturn, prices still haven’t fallen much, the Wall Street Journal reported. In part, that is because of price controls which many Chinese cities imposed on housing over the past two years to keep values stable. Now China is starting to loosen the rules—with unpredictable consequences. Under the rules, which were applied in dozens of cities, local governments typically blocked developers of new homes from offering discounts of 10% to 15% or more on unsold properties.

Hui Ka Yan, the billionaire chairman of beleaguered property developer China Evergrande Group, has been placed under police control, Bloomberg News reported. Hui was taken away by Chinese police earlier this month and is being monitored at a designated location. It’s not clear why Hui is under so-called residential surveillance, a type of police action that falls short of formal detention or arrest and doesn’t mean Hui will be charged with a crime.

The turmoil in Vietnam’s property sector continues, with creditors embroiled in a dispute with developer Novaland Investment Group Corp. after it failed to pay interest on a $300 million bond, Bloomberg News reported. The company is committed to resolving the impasse with holders of its 2026 overseas convertible note in “a cooperative spirit, aiming to find optimal solutions that safeguard the interests of bondholders,” Novaland said Tuesday.

New Zealand-based Cooks Coffee Company plans to place its Triple Two coffee franchise business in the UK into an insolvency process, VerdictFoodService.com reported. For this, the company intends to appoint administrators for its franchise business, which includes Triple Two Holdings and its subsidiaries. In a statement, Cooks Coffee Company said: “Triple Two was growing rapidly before the Covid-19 pandemic and had shown continuing momentum in FY22.

Guangdong Adway Construction has filed for bankruptcy in a Shenzhen court due to its inability to repay debts amid China’s stressed real-estate sector, the Wall Street Journal reported. The company filed the application with the Shenzhen Intermediate People’s Court, seeking restructuring to reduce its debt burden and improve operations, Adway said in a filing on Monday. Adway, which provides interior and exterior decoration and design services, is the latest company to fall victim to China’s weak property sector, which has weighed on the world’s second-largest economy.

A major group of offshore creditors of China Evergrande Group is planning to join a winding-up court petition filed against the cash-strapped developer if it doesn't submit a new debt revamp plan by next month, Reuters reported. The creditor group holds a large portion of Evergrande offshore bonds and, if it decides to join, would add more weight to the winding-up petition filed against the developer by an investor in a Hong Kong court.