Hodlnaut, a Singapore-based crypto currency lender and borrower, has suspended withdrawals, swaps and deposits, the company said on Monday, the latest sign of stress in the cryptocurrency industry, Reuters reported. The crypto lender also said it would withdraw its application for a licence from the Monetary Authority of Singapore (MAS) to provide digital token payment services, for which it received in principle approval in March. Hodlnaut said the move was "due to recent market conditions" and was "to focus on stabilising our liquidity and preserving assets".

The United States on Monday imposed sanctions on virtual currency mixer Tornado Cash, accusing it of helping hackers, including from North Korea, to launder proceeds from their cyber crimes, Reuters reported. A senior Treasury Department official said that Tornado Cash, one of the largest mixers identified as problematic by the Treasury, has reportedly laundered more than $7 billion worth of virtual currency since it was created in 2019.

Private lenders IDFC First Bank and Yes Bank and state-owned Indian Bank have put their loans to SpiceJet Ltd in the high-risk category, the latest setback for the airline, Reuters reported. The lenders are concerned about SpiceJet's cash flows and have held discussions seeking assurances from the Indian budget carrier as it is behind on payments to some aircraft lessors, the sources said. The discussion comes as SpiceJet's approved fleet was halved for eight weeks this summer by regulators due to safety snags and as lessors have filed formal applications to de-register four planes.

China’s surprisingly strong export growth in July lifted its trade surplus to another record and provided some much-needed economic support, but the country will still have to find ways to keep its fragile recovery on track as the global economy slows this year, Bloomberg News reported. The nation’s trade balance climbed to about $101 billion last month, while exports in dollar terms grew 18% from a year earlier -- far higher than economists’ estimates of a 14.1% gain.

Japanese bank lending rose 1.8% in July from a year earlier, accelerating from the previous month, as some companies borrowed more to meet rising raw material costs amid a surge in global commodity inflation, Reuters reported. Outstanding loans held by the country's four main categories of banks, including "shinkin" or credit unions, hit a record 588.232 trillion yen ($4.36 trillion), Bank of Japan (BOJ) data showed on Monday.

A London judge has told Kazakh mining company ENRC, its former legal adviser Dechert and the UK Serious Fraud Office (SFO) to consider mediation to end bitter litigation over events that led to a near 10-year criminal investigation, Reuters reported. Despite ruling in May that former veteran Dechert partner Neil Gerrard had grossly betrayed his own client and former senior SFO officers had behaved with bad faith, High Court Judge David Waksman suggested all sides call a truce. "Notwithstanding what's happened in the past and the serious allegations ...

The final whistle has sounded for China Evergrande Group’s global soccer ambitions. The embattled Chinese property giant is canceling a contract to build what was slated to be the world’s largest soccer stadium, and is returning land-use rights for the site to the government of Guangzhou in its home province, the Wall Street Journal reported. Evergrande said that it would receive a refund equivalent to about $818 million, and intends to use the money to help repay a mountain of debt. The property conglomerate, which has around $300 billion in liabilities, defaulted on its U.S.

China invited Zambia's private creditors to discuss the nation's debt later this month after official creditors agreed to a restructuring of its debt, Chinese Ambassador to Zambia Du Xiaohui said on Thursday, Reuters reported. Zambia's creditors have pledged to negotiate a restructuring of the country's debts in a move welcomed by International Monetary Fund managing director Kristalina Georgieva as "clearing the way" for a $1.4 billion fund programme.

Australia's "Big Four" banks raised their home loan variable interest rates on Thursday, after the country's central bank hiked rates earlier this week, Reuters reported. Commonwealth Bank of Australia, Australia and New Zealand Banking Group, National Australia Bank and Westpac Banking Corp increased their mortgage rates to match the hike announced by the central bank. The new rates for CBA and ANZ customers will take effect from Aug. 12, while Westpac's rates will apply from Aug. 18. The banks also raised rates on some of their products for customers with savings accounts and deposits.

Sri Lanka’s new president said Wednesday that his government is preparing a national policy roadmap for the next 25 years that aims to cut public debt and turn the country into a competitive export economy as it seeks a way out of its worst economic disaster, the Associated Press reported. President Ranil Wickremesinghe in his speech to Parliament said Sri Lanka needs long-term solutions and a strong foundation to stop a recurrence of economic crises.