A court in South Korea issued an arrest warrant for Do Kwon, the founder of the Terraform Labs cryptocurrency ecosystem, whose implosion earlier this year sparked a global crypto rout, Bloomberg News reported. The court in Seoul issued a warrant for Do Kwon and five others on allegations that include violations of the nation’s capital markets law, according to a text message from the prosecutor’s office. All six individuals are located in Singapore, the prosecutor’s office said. Do Kwon didn’t immediately reply to an email seeking comment.

The United States on Wednesday announced that it would transfer $3.5 billion in Afghan central bank assets into a new Swiss-based trust fund that will be shielded from the Taliban and used to help stabilize Afghanistan's collapsed economy, Reuters reported. The Afghan Fund, managed by a board of trustees, could pay for critical imports like electricity, cover debt payments to international financial institutions, protecting Afghanistan's eligibility for development aid, and fund the printing of new currency.

Chinese authorities have told the nation’s biggest banks and state-owned firms to start a round of checks on their financial exposure to Fosun, one of the country’s largest non-state conglomerates, Bloomberg News reported. Multiple regulators including China’s banking watchdog and the local commission that oversees state investments in Beijing recently told institutions under their oversight to closely examine their Fosun exposure.

Lenders of Future Enterprises have appointed forensic auditor J C Kabra & Associates, in line with a finance ministry mandate to audit non-performing loan accounts with over Rs 50 crore exposure, the Economic Times of India reported. Central Bank of India, the lead bank for Kishore Biyani-promoted Future Enterprises, appointed the forensic auditor on September 12, according to a stock exchange filing by the company late Monday evening. The troubled retailer, which defaulted on its loans, has outstanding loans of Rs 6,700 crore, said a lender.

Some Turkish banks are curtailing corporate lending after the government's latest raft of regulations raised their costs and forced many to cut their balance sheet risks, five banking and private sector sources told Reuters. The new rules, part of President Tayyip Erdogan's unorthodox management of the economy, have especially depressed longer-term lending. The owner of one mid-sized manufacturer said it was "harder and harder every day" to access needed credit.

China will continue to roll out phased policies to stabilise its economy with a focus on reviving consumption and boosting investment, and implement these policies as soon as possible, state media cited Premier Li Keqiang as saying on Monday, Reuters reported. China will implement a variety of measures to stabilise growth, employment and prices, Premier Li said. "China will promote the recovery of consumption as the main pulling force and make greater efforts to boost effective investment, " Premier Li was quoted by state radio.

Malaysia’s Finance Minister Zafrul Aziz is confident the economy will expand faster than expected in the current year, supported by strong private consumption amid risks from a global slowdown, Bloomberg News reported. The economy, which expanded 8.9% in the second quarter, will likely see the momentum continue in the third quarter, he said at a Standard Chartered Bloomberg Live forum in Singapore. The central bank estimated full-year growth to be at the upper end of its 5.3%-6.3% forecast. New estimates on growth will likely be announced during the annual budget next month, Zafrul said.

Long Covid is costing the Australian economy the equivalent of $3.6 billion a year in lost output, the Australian Financial Review reported, citing an exclusive data analysis, Bloomberg News reported. Based on data from the country’s Treasury estimating some 31,000 workers called in sick because of the condition in June, the analysis by think tank Impact Economics and Policy found the economic cost came in at A$100 million ($68 million) a week, according to the AFR. That amounts to some A$5.2 billion on an annual basis.

Lenders of struggling Chinese developer Evergrande Group have appointed a receiver this week to seize its Hong Kong headquarters, two sources said, as the world's most indebted developer struggles to emerge from its debt crisis, Reuters reported. Saddled with more than $300 billion in liabilities, Evergrande has been trying to sell its 26-storey China Evergrande Centre in Hong Kong's Wan Chai district after a potential $1.7 billion deal collapsed late last year, as part of the asset disposal effort to raise funds.

China is increasingly counting on its banks to step up mortgage lending and help boost a sinking housing market. But there is a problem: Lenders are stuck with many mortgages from boom times that are at higher risk of not being repaid, the Wall Street Journal reported. Chinese property developers wrote at least $300 billion of mortgage guarantees over the past few years for partially built apartments that they presold, according to regulatory filings.