The International Monetary Fund, the European Union and World Bank on Tuesday agreed to a $25.1bn economic rescue package for Hungary to bolster confidence in its economy.
The crisis in Kuwait’s banking sector deepened on Tuesday as the chairman of Gulf Bank resigned over derivatives losses and Moody’s warned it could downgrade the bank.
Colonial First State, Australia’s biggest fund manager, suspended redemptions from its mortgage funds on Monday. The decision by the Commonwealth Bank of Australia unit, which had A$3.3 bn in mortgage funds at the end of September, lifts the total frozen by such funds to A$24 bn.