The Turkish currency sank to a record low, weighed down by concern that monetary policy remains too loose to curb accelerating inflation, Bloomberg News reported. The lira slid as much as 1.1% to 8.5981 per dollar, poised for a third daily decline this week. The losses were compounded as local accounts bought dollars ahead of large foreign-currency debt repayments, according to two traders who asked not to be named as they are not authorized to speak publicly. Turkish lira hits an all-time low against U.S.

Japan extended a coronavirus state of emergency in Tokyo and other areas for 20 more days on Friday, with infections still not slowing as it prepares to host the Olympics in just over 50 days, the Associated Press reported. Cases remain high and medical systems in Osaka, the hardest-hit area in western Japan, are still overburdened, Prime Minister Yoshihide Suga said in announcing the decision. “I am aware that many people are voicing concern about holding the Olympics and Paralympics,” he said.

The trustee presiding over the Mt. Gox civil rehabilitation case has taken the next step toward partially reimbursing victims who lost money to the cryptocurrency exchange in hacks that date back nearly a decade. As of today, claimants can begin to vote on whether or not they will accept the civil rehabilitation proposal, Coin Desk reported. The deadline for claimants to cast their vote online is Oct. 8.

The U.S. banned imports of tuna, swordfish and other seafood from a Chinese fishery company, citing evidence of forced labor on its distant-water vessels, the Wall Street Journal reported. U.S. Customs and Border Protection agents will detain shipments containing seafood harvested by China’s Dalian Ocean Fishing Co., officials said, in the latest example of Washington confronting Beijing over human-rights issues.

New figures reveal that 1,500 companies in Japan have gone under due to the coronavirus pandemic since February of last year, NHKNews reported. Credit research firm Teikoku Databank says the businesses have either already declared bankruptcy, or closed down to prepare for liquidation proceedings. The dining industry has been the hardest-hit, with 250 businesses failing. It is followed by construction with 140, and accommodation with 89. Monthly totals have been rising since January. That's when the second coronavirus state of emergency started for the Greater Tokyo Area.

China's banking regulator has asked lenders to stop selling investment products linked to commodities futures to mom-and-pop buyers to curb investment losses amid volatile commodity prices, Reuters reported. It has also asked lenders to completely unwind their existing books for these products, which they manufacture and sell to individual investors. The China Banking and Insurance Regulatory Commission's (CBIRC's) order to exit these products has not been reported before. It issued the order this year.

On June 26, 2019, the Directive (EU) 2019/1023 of the European Parliament and of the Council of June 20, 2019 on preventive restructuring frameworks, on discharge of debt and disqualifications, and of measures to increase the efficiency of procedures concerning restructuring, insolvency and discharge of debt, and amending Directive (EU) 2017/1132 (the “EU Restructuring Directive”), were formally published in the Official Journal of the European Union, the Cyprus Mail reported.

Thailand’s King Maha Vajiralongkorn endorsed a $16 billion borrowing plan to shield Southeast Asia’s second-largest economy from the impact of a raging coronavirus outbreak that’s threatening a nascent recovery and plans to reopen borders to tourists, Bloomberg News reported. The government can borrow 500 billion baht ($16 billion) in the local or overseas markets to finance Covid relief measures for the public and businesses, according to a Royal Gazette announcement published Tuesday.

Indian real estate developers on Tuesday demanded protection from insolvency proceedings for at least a year as the sector had been severely hit financially due to the pandemic, the Hindustan Times reported. They also wrote to the Centre and the Uttar Pradesh Real Estate Regulatory Authority (UP-Rera) seeking more time to repay loans. “Section 7 of Indian Bankruptcy Code (IBC) allows a financial creditor to file for initiating the corporate insolvency resolution process against a corporate debtor.

The National Company Law Tribunal (NCLT), Hyderabad has dismissed a petition filed by a liquidator who was urging the tribunal to rope in the banks that lent huge monies to BS Limited company under liquidation as respondents to the case, the Times of India reported. The tribunal bench comprising Justices Madan B Gosavi and Binod Kumar Sinha passed this order after hearing the petition filed by the liquidator pertaining to BS Ltd.