An analysis of 765 banks in China by UBS Group AG shows that efforts to clean up the country’s debt-ridden financial system are well underway, with as much as 1.8 trillion yuan ($271 billion) of impaired loans shed between 2013 and 2015, and 620 billion yuan of capital raised in the same period. Source Bloomberg
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China’s Foreign Ministry on Wednesday once again asked India to withdraw all its troops and equipment from Chinese territory, as the border standoff in the Dong Lang (Doklam) area approaches its second month. Source: People’s Daily
Top Turkish and Russian economy officials are set to discuss key economic, political, technical and trade issues at an international fair in the Aegean city of İzmir, which will start on Aug. 18 and last until Aug. 27. Source: Daily News
The Defense Ministry plans to introduce a land-based Aegis missile defense system to respond to North Korea’s missile threats and will seek funding in the next fiscal year to cover system design costs, a government source said Wednesday.