Malaysia will allow quarantine-free entry for fully vaccinated travelers from April 1, ending almost two years of stringent border controls introduced to contain the Covid-19 outbreak, Bloomberg News reported. “Citizens with valid travel documents can enter and leave the country as they did before the pandemic,” Prime Minister Ismail Sabri Yaakob said at a briefing on Tuesday. Foreigners will no longer need to apply for MyTravelPass, which will be abolished next month, he said.

Sri Lanka is effectively devaluing its currency as its foreign reserves dwindle, potentially accelerating the worst inflation surge in Asia as the nation struggles to service its debt and pay for imports, Bloomberg News reported. The Central Bank of Sri Lanka said in a statement late Monday that “greater flexibility in the exchange rate will be allowed to the markets with immediate effect.” The central bank also said it’s “of the view” that transactions would be capped at 230 rupees per dollar, about 12% below the current market level of 201.49 rupees.

Japan's bank lending rose at the slowest increase in a decade in February as immediate pressure for corporates to borrow cash continued to ease amid a broader economic recovery from the pandemic slump, Reuters reported. While the central bank's massive money printing will likely keep funding conditions ultra-loose, the crisis in Ukraine could hurt restaurants and retailers still reeling from the COVID-19 curbs, some analysts say.

China’s government signaled more stimulus is on the cards by setting an aggressive economic growth target, calling for confidence amid rising domestic strains and global instability stemming from Russia’s invasion of Ukraine, Bloomberg News reported. While the growth goal of about 5.5% for this year is the lowest in more than three decades, it’s above consensus forecasts closer to 5% and far higher than the International Monetary Fund’s projection of a 4.8% expansion.

China's export growth slowed in the January-February period largely due to base effects, and though the data beat expectations, Russia's invasion of Ukraine has heightened uncertainty over the outlook for global trade this year, Reuters reported. Outbound shipments rose 16.3% in the first two months of the year from the same period a year earlier, official data showed on Monday, beating analyst expectations for a 15.0% rise, but down from 20.9% gain in December. Imports increased 15.5%, easing from a 19.5% gain in December and below the forecast 16.5% increase.

Sri Lanka devalued its currency as foreign exchange reserves fell to the lowest since November 2021, reflecting a continued challenge for the country’s ability to import essentials, keep the power on and service its debt, Bloomberg News reported. “Greater flexibility in the exchange rate will be allowed to the markets with immediate effect,” while the rupee will be capped at 230 per US dollar, the Central Bank of Sri Lanka said in a statement.

The Philippines’ credit rating is unlikely to be downgraded because the country’s debt, which has risen to 12 trillion pesos ($232 billion), remains manageable, central bank Governor Benjamin Diokno said, Bloomberg News reported. The Southeast Asian nation’s level of debt is sustainable, with economic growth expected to outpace an increase in borrowings, Diokno said in a statement Sunday. The debt-to-GDP ratio of 61% is also manageable, compared with other countries, he said.

Textile and leather goods' makers in Istanbul's garment district are feeling the impact of Russia's invasion of Ukraine as customers in Moscow and Kyiv have canceled $200 million in orders in the past week, industry officials say, Reuters reported. The loss of trade adds to strains on Turkey's economy, with officials estimating that more than $1 billion is directly at risk to the textile industry alone if the conflict in Ukraine continues.

The recovery ratio for creditors through the Insolvency and Bankruptcy Code (IBC) has fallen to its lowest level ever, highlighting the challenges that lenders face as bidders turn cautious due to an uncertain economic environment even as court approvals have slowed down, the Economic Times of India reported. Latest data from the Insolvency and Bankruptcy Board of India (IBBI) shows that out of the admitted claims of Rs 32,861.90 crore resolved in the quarter ended December 2021, creditors recovered just Rs 4406.76 crore or just 13.41%.

Liquidators for failed cryptocurrency exchange MyCryptoWallet claim the business may have traded whilst insolvent for three years before its collapse, and have drawn into question $3.4 million in ‘unfair or preferential’ transactions made by the company’s founder, the Sydney Morning Herald reported. MyCryptoWallet was a Melbourne-based exchange founded in 2017 by Jaryd Koenigsmann, which allowed users to buy and sell popular cryptocurrencies such as Bitcoin and Ethereum.