Turkey will announce a new scheme on the weekend to encourage households to convert their gold holdings into liras, finance minister Nureddin Nebati told investors in London on Tuesday, Reuters reported. Two investors who attended meetings with Nebati in London said the minister had told them about the plans to ensure part of the $250-$350 billion worth of gold held by Turkish households would find its way into the domestic saving system. "They will make announcements this weekend on how to convince people to let go of their gold holdings – it is a huge amount in Turkey," said on investor.

Indian bonds gained after the central bank scrapped a weekly debt sale amid rising yields with a central bank rate decision due on Thursday, Bloomberg News reported. The yield on the benchmark 10-year bond fell as much as 7 basis points to 6.80%. That remains nearly 40 basis points higher this year as record borrowing for the next fiscal year coincided with a global rout in bonds. The 5-year bond yield was down 6 basis points to 6.38%.

February 9 China Eases Property Loan Curbs as Housing Market Slumps China eased a year-long cap on loans for the real estate sector to fund public rental housing, the latest bid by authorities to tackle a slumping property market, Bloomberg News reported. Bank loans to fund low-cost rental projects will no longer be subject to regulatory curbs, the People’s Bank of China said in a statement on Tuesday. The rules required banks to trim their loan exposure to the property sector to a certain level.

Tax havens could come in the way of cross-border insolvency laws, with Videocon Oil and Nirav Modi's Firestar International, two recent examples of Indian companies owning foreign assets that are undergoing insolvency proceedings in the country, demonstrating why this is so, said legal, insolvency and banking experts, the Economic Times of India reported. Videocon Oil has assets in Brazil and Indonesia, owned through intermediate companies located in jurisdictions such as the British Virgin Islands (BVI) and Cayman Islands.

Jury selection is expected to begin on Monday in the U.S. corruption trial of a former Goldman Sachs banker accused of involvement in the looting of billions of dollars from Malaysia's 1MDB sovereign wealth fund, Reuters reported. Roger Ng, Goldman's former head of investment banking in Malaysia, has pleaded not guilty to conspiring to violate an anti-bribery law and launder money in connection with the alleged looting of billions of dollars from the fund.

The United States and Japan are set to announce a deal to grant Japanese steelmakers relief from Trump-era U.S. tariffs for a limited amount of steel imports, Reuters reported. Anonymous sources said that it will allow about 1.25 million metric tonnes into the United States duty-free, with volumes above that level subject to the 25% "Section 232" national security tariffs.

Turkey is preparing to return to global bond markets for the first time since the lira’s implosion, Bloomberg News reported. The nation has picked banks including HSBC Holdings Plc to manage a sale of Islamic debt, known as a sukuk, which could happen this month. The sale may be used to refinance about $2 billion of debt maturing this month. The last time Turkey turned to foreign investors with a bond sale was in September, before President Recep Tayyip Erdogan’s insistence on cutting interest rates despite high inflation sent the currency into a tailspin.

The Chinese government could take further measures if needed to keep the yuan stable, potentially putting downward pressure on the currency, a former foreign exchange regulator said, Reuters reported. Policymakers could increase yuan's flexibility, expand capital outflows, or control capital inflows to rein in the yuan, which could deviate from economic fundamentals in the short term, wrote Guan Tao, global chief economist at BOC International and a former official at the State Administration of Foreign Exchange (SAFE).

Candidates seeking to succeed Philippine President Rodrigo Duterte said they will continue to push for better infrastructure, pitching to prioritize areas outside the capital and for companies to build more while government debt remains high, Bloomberg News reported. At the first presidential forum on Friday, Manila Mayor Isko Moreno and Senator Panfilo Lacson said they will boost public-private partnerships, which Duterte earlier criticized but eventually adopted. The Southeast Asian nation is banking on infrastructure spending to help boost pandemic recovery.

India’s central bank rejected bids for bonds at the weekly auction following a surge in yields spurred by the government’s record-borrowing program, Bloomberg News reported. The Reserve Bank of India didn’t accept any bids for the 2026 and 2035 bonds at Friday’s auction, as traders probably asked for higher yields. It sold only 105.3 billion rupees ($1.4 billion) of notes, compared with 240 billion rupees on offer, the RBI said in a statement.