In the latest attempt to boost consumer spending, China’s largest state-run banks lowered interest rates on deposits last week. The rate cuts, the second such reductions since last year, reflect a growing concern that the world’s second-largest economy has not rebounded as strongly as expected after lifting its restrictive “zero-Covid” measures, the New York Times reported. Six commercial banks all announced that they had lowered the rate for demand deposits, essentially a checking account, to 0.2 percent from 0.25 percent.

Manufacturer of wagons, high-speed brake systems, and railway and engineering equipment, Jupiter Wagons Ltd (JWL), on Friday, June 9, said Kolkata National Company Law Tribunal (NCLT) has approved the company's resolution plan to acquire a controlling stake in Stone India under CIRP of IBC, CNBCTV18.com reported.

Pakistan’s cash-strapped government on Friday presented its draft for the national budget, allocating funds to fight climate change despite staggering $30 billion in losses from last summer's devastating floods, the Associated Press reported. Lawmakers are expected to approve the proposal by the end of the month, after a clause-by-clause discussion. Prime Minister Shahbaz Sharif's government, which succeeded that of former Premier Imran Khan, has struggled with an unprecedented economic downturn since taking over last year.

Japan's wholesale inflation slowed for a fifth consecutive month in May because of sliding fuel and commodity prices, data showed on Monday, a sign cost-push pressure that has driven up consumer inflation may be subsiding, Reuters reported. The data underscores the central bank's view that consumer inflation will slow in coming months as global commodity prices slide from last year's peak levels.

Fallen crypto impresario Do Kwon has funneled tens of millions of dollars out of an entity linked to his failed blockchain project since he was arrested in late March, South Korean prosecutors alleged, Bloomberg News reported. The $29 million worth of digital tokens were likely moved by Kwon personally or at his direction, Dan Sunghan, director of the financial crime investigation bureau at the Seoul Southern District Prosecution Service, said in an interview with Bloomberg News.

China's exports shrank much faster than expected in May while imports extended declines with a grim outlook for global demand, especially from developed markets, raising doubts about the fragile economic recovery, Reuters reported. The world's second-largest economy grew faster than expected in the first quarter thanks to robust services consumption and a backlog of orders following years of COVID disruptions, but factory output has slowed as rising interest rates and inflation squeeze demand in the United States and Europe.

HESTA, one of Australia's largest pension funds, on Wednesday froze work with PricewaterhouseCoopers (PwC) Australia, the latest fund to blacklist the firm amid a national scandal over its misuse of confidential government tax plans, Reuters reported. The A$72 billion ($48 billion) fund is "very concerned" and will "restrict consideration of PwC for any new or additional service provision", according to a statement on Wednesday. The fund is audited by PwC.

Japan’s parliament on Tuesday enacted a set of bills to digitalize civil procedures that do not involve lawsuits, such as divorce mediation and bankruptcy applications, the Japan Times reported. The House of Representatives passed the bills by a majority vote at the day’s plenary meeting, with support mainly from the ruling bloc. The bills were approved by the the Upper House earlier. The legislation will allow people to submit necessary applications online, instead of the current system of such documents being brought or mailed to courts.

The National Company Law Tribunal (NCLT) on Monday admitted applications filed by Go First lessors Jackson Square Aviation Private Ltd and Engine Lease Finance BV and directed the insolvency resolution professional (IRP) to reply within a week, the Economic Times of India reported. Jackson Square had filed an interlocutory application asking the court to restrain Go First from flying the eight aircraft leased by the company to the airline.

Japanese Prime Minister Fumio Kishida's government on Tuesday unveiled an action plan on his "new capitalism" programme of driving growth and wealth distribution through wage hikes, signalling his commitment to shift the economy into a higher gear, Reuters reported. Kishida's economic strategy will focus on investment in human resources, science and technology, innovation and start-ups, as well as green and digital transformation, as key driver of growth. The action plan and separate mid-year economic policy framework are expected to be approved by Kishida's cabinet later this month.