Sri Lanka abruptly restricted fuel supplies and told residents to stay home, raising the risk of more unrest as the government struggles to provide essential goods due to a crippling sovereign debt crisis that has rocked the country for months, Bloomberg News reported. The island nation’s cabinet of ministers Monday decided to limit distribution of fuel to essential services until July 10, spokesman Bandula Gunawardena said in a televised statement, adding that inter provincial public transport would likely come to a halt.

Hong Kong's financial watchdog is tightening oversight on derivatives markets after the collapse of Archegos Capital Management, a senior official at the city's Securities and Futures Commission (SFC) said on Tuesday, Reuters reported. Archegos, a U.S.-based family office of investor Bill Hwang which had $36 billion in assets, blew up last year when it was caught short on highly leveraged trades and left global banks with $10 billion in losses.

Investment holding firm Top Shine Global Ltd has decided to file a winding-up petition against China Evergrande Group as the embattled property developer did not repurchase shares in its unit Fangchebao from investors, a senior executive said, Reuters reported. Top Shine filed the petition on Friday, a record at the Hong Kong High Court showed. Fangchebao is a Chinese online real estate and automobile marketplace owned by Evergrande. The unit was planning an IPO in Hong Kong.

China’s economy showed some improvement in June as Covid restrictions were gradually eased, although the recovery remains muted, Bloomberg News reported. That’s the outlook based on Bloomberg’s aggregate index of eight early indicators for this month. The overall gauge returned to the neutral level after deteriorating for two straight months. Economic activity picked up in June after financial hub Shanghai lifted its lockdown, allowing businesses to restart and most residents to leave their homes.

China's central bank made the biggest daily cash injection into the banking system via open market operations in nearly three months on Monday, to ease pressure from rising cash demand towards the end of the first half of the year, Reuters reported. The People's Bank of China (PBOC) injected 100 billion yuan ($14.95 billion) worth of seven-day reverse repos, the biggest daily injection via the liquidity tool since March 31. The central bank said the operation was to keep "half year-end liquidity stable," according to an online statement.

Turkey stepped up efforts to bolster the lira and cool lending with a surprise measure that bans loans to companies deemed to be flush with foreign-exchange cash, sending the domestic currency on its biggest rally this year, Bloomberg News reported. The country’s banking regulator is restricting commercial lira loans to corporate borrowers if they hold more than 15 million liras ($890,000) in foreign-currencies and if the amount exceeds 10% of total assets or annual sales. The authority, known as BDDK, announced the decision on Friday.

Struggling Japanese auto parts supplier Marelli Holdings said Friday it has filed with Tokyo District Court for a simplified bankruptcy protection procedure under Japan’s civil rehabilitation law, the Japan Times reported. Marelli, based in the city of Saitama, is saddled with liabilities totaling ¥1.133 trillion, which makes it the second largest failure of a Japanese manufacturer since World War II only to now-defunct Takata, which left ¥1.5 trillion, according to Tokyo Shoko Research.

The resolution professional (RP) in the Anil Ambani insolvency case has sought an urgent hearing at the National Company Law Tribunal (NCLT) on the grounds that it had been more than a year since he submitted his report on the merits of a lawsuit brought by State Bank of India for recovery of ₹1,200 crore loans from the industrialist, but his report has not been taken up, the Economic Times of India reported.

Profits at China's industrial firms shrank at a slower pace in May following a big slump in April, due to the resumption of activity in major manufacturing hubs, but COVID-19 curbs still weighed on factory production and squeezed factory margins, Reuters reported. Profits fell 6.5% from a year earlier, less than the 8.5% decline in April, according to data released by the National Bureau of Statistics (NBS) on Monday.

Sri Lanka’s debt-laden economy has “collapsed” after months of shortages of food, fuel and electricity, the prime minister told lawmakers Wednesday in comments that underscored the country’s dire situation as it seeks help from international lenders, the Associated Press reported. Ranil Wickremesinghe told Parliament the South Asian nation faces “a far more serious situation” than the shortages alone, and he warned of “a possible fall to rock bottom.” “Our economy has completely collapsed,” he said.