ASIA

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On Thursday, China's central bank enhanced market support by introducing a "swap facility" that provides companies with access to $70.6 billion in liquidity, aiming to bolster confidence in the nation's struggling economy.

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Sri Lanka's new president is seeking a more flexible approach from the International Monetary Fund (IMF) as his country navigates a $2.9 billion bailout package. The president, who took office amid a severe economic crisis and sovereign default, expressed concern about the impact of the IMF's stringent austerity measures. He has urged the IMF to consider "alternative means" to continue supporting Sri Lanka's recovery while mitigating the hardships imposed by the austerity program.

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Indian business magnate Ratan Tata, known for his visionary leadership and transforming the Tata Group into a global conglomerate, passed away at the age of 86. His death marks the end of an era for India's industrial landscape, as he was one of the most respected and influential business figures in the world.

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Shigeru Ishiba, a former defense minister, has been elected Japan's next prime minister after narrowly winning the leadership contest of the Liberal Democratic Party (LDP). Ishiba, 67, triumphed over rival Sanae Takaichi in a highly competitive race, which saw a record nine candidates vying for the leadership of the ruling party. With the LDP's majority in parliament, Ishiba is set to take office on Tuesday, following a parliamentary vote.

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The Japanese government has acknowledged that an official photo of its new cabinet was altered to present members in a more polished appearance, following online rumors suggesting it had been edited.

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On Thursday, Pakistan announced that it would experience some "transitional pain" following the International Monetary Fund's approval of a new $7 billion relief package aimed at strengthening its struggling economy.

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India has approved it will provide substantial financial support, amounting to hundreds of millions of dollars, to help the Maldives enhance its struggling economy.