Trafigura Group’s head of power trading in Asia has left the commodities giant, Bloomberg News reported. Ben Ernst, who managed a team of traders out of Trafigura’s Singapore office, left after almost two years in the role, said the people, who asked not to be identified discussing private information. He had previously spent 13 years at ERM Power, now Shell Energy Australia. Trafigura’s Asia power book is said to have struggled in turbulent conditions, according to the people.

PT Garuda Indonesia on Friday filed for chapter 15 bankruptcy protection in the Southern District of New York court, as the debt-laden carrier tries to secure its future profitability, Bloomberg News reported. The submission comes as the airline, having completed a court-supervised debt restructuring in Indonesia to halve reduce its debt load, tries to capitalize on the rebound in international travel. Garuda’s total debt now amounts to roughly $5.1 billion, President Director Irfan Setiaputra told parliament in Jakarta on Monday.

China’s central bank took another step to shore up the yuan, making it more expensive for traders and institutions to bet against the currency after it weakened rapidly against the dollar, the Wall Street Journal reported. The People’s Bank of China said on Monday that financial institutions selling foreign-exchange forward contracts will be subject to a 20% risk-reserve ratio, up from zero currently. The change, which will kick in on Sept. 28, will make it costlier for banks—and correspondingly, their clients—to sell yuan to buy dollars in the derivatives markets.

As the euro has fallen below parity with the dollar and the British pound plunges toward a one-for-one exchange rate as well, another currency is also weakening against the dollar: China’s renminbi, the New York Times reported. For Shanghai trading on Monday morning, China’s central bank, the People’s Bank of China, fixed the initial value of the renminbi at more than 7 to the dollar for the first time in more than two years.

Interpol has issued a “red notice” for the search and arrest of Do Kwon, the South Korean co-founder of Terraform Labs, the Seoul Southern District Prosecutors’ Office said on Monday, the New York Times reported. The South Korean authorities had requested assistance from the global police agency to trace Mr. Kwon’s whereabouts earlier this month. Mr. Kwon and his company faced investigations by the South Korean government after the value of his cryptocurrencies, Luna and TerraUSD, plummeted and contributed to a $300 billion crash across the crypto economy in May.

The National Company Law Appellate Tribunal (NCLAT) has dismissed an appeal by Siemens Ltd against the invocation of its bank guarantees by Meenakshi Energy. Meenakshi Energy Ltd (MEL) which is presently facing insolvency proceedings, was setting up a 700 MW thermal plant, in which Siemens was a sub-contractor for the project, the Economic Times of India reported.

Garuda Indonesia can look forward to almost US$400 million in net profit next year and more in the following years, the government forecasts, pointing to a turnaround for the debt-laden national flag carrier, The Star reported. Following years of hefty losses, the airline operator would achieve $399 million in profit, which would increase to $647 million in 2026, according to the Finance Ministry’s projection.

Japan’s central bank took the unusual step Thursday of intervening in the market to stem the yen’s decline against the U.S. dollar, the Associated Press reported. Earlier in the day, the dollar rose to nearly 146 yen — a 24-year low — after the Bank of Japan left its key lending rate unchanged following the U.S. Federal Reserve’s decision to raise its benchmark rate by three-quarters of a percentage point. The dollar later fell sharply to about 142 yen. It was trading at 143.05 yen early Thursday morning U.S.

Thailand’s acting prime minister, who earlier this week called for measures to halt the baht’s slide, said the government won’t meddle with the central bank and how it handles the currency, Bloomberg News reported. Prawit Wongsuwan, who is leading the government after a court last month suspended Prayuth Chan-Ocha, said on Thursday he directed Finance Minister Arkhom Termpittayapaisith to “only talk” to the Bank of Thailand about the baht’s recent slump. That’s a walk back from remarks on Tuesday when he said he wants the baht back at 35 to a dollar.

Turkey’s central bank delivered another massive interest rate cut Thursday despite eye-popping inflation above 80%, moving the opposite way from world economies that are raising rates to control prices as the lira sunk to record lows, the Associated Press reported. The Central Bank of the Republic of Turkey lowered the benchmark rate by 1 percentage point, to 12%. The lira was trading around 18.38 against the dollar, weakening further than the previous record low of 18.36 in December.