Gold declined on Monday as Japanese equities rose on news of a potential stimulus program that boosted investors’ risk appetite, though fresh tensions over Hong Kong limited the metal’s fall. Gold is seen as a safe-haven asset during political and economic uncertainties.

Citigroup Inc is launching a new business unit within its corporate and investment bank dedicated to environmental sustainability to strengthen its commitment to an area that has grown increasingly important to corporate clients and investors.

Struggling Japanese conglomerate SoftBank Group on Monday reported record losses, as the coronavirus pandemic compounded woes caused by its investment in troubled office-sharing start-up WeWork. The losses were announced shortly after the firm said Chinese tycoon and Alibaba co-founder Jack Ma would resign as a director of the board next month.

The deadly coronavirus pandemic will cost the global insurance industry about $203 billion, the Lloyd's of London market forecast on Thursday.

The global economy is projected to contract by 3.2% this year, against the backdrop of the devastating coronavirus pandemic, according to a UN report released Wednesday. Marking the sharpest contraction since the great depression in 1930's, the forecast came on top of anaemic economic forecasts of 2.1% at the beginning of this year.

The coronavirus pandemic poses significant risks to the collateralised loan obligations (CLOs) market as the creditworthiness of the debt deteriorates, the European Union’s securities watchdog said on Wednesday. CLOs are securities backed by a pool of loans taken out by companies that have high levels of debt and typically a non-investment grade credit rating.

Turkey’s BDDK bank regulator has lifted a trading ban imposed last week on UBS, Citigroup, and BNP Paribas because they have fulfilled foreign exchange obligations promptly, according to people with direct knowledge of matter.

British economic output is set to crash 14% this year owing to the coronavirus, the Bank of England said Thursday as it left its interest rate at 0.1 percent. UK gross domestic product would rebound by 15% in 2021 however, the BoE said following a meeting that took place Wednesday.

Iran's parliament approved a bill to change the official currency to 'Toman' which equals 10,000 Rials. Iranian lawmakers voted on Monday for the details of an amendment to the Monetary and Banking Act of Iran to change their country's official currency to "toman", according to the official news agency of Iran. The new law tasks the Central Bank of Iran with recalculating the foreign exchange ratio with "toman", taking into consideration the currency reserve and the country's commitments to the IMF.

World stock markets and the price of oil rose on Tuesday as more countries eased restrictions on business and public life, raising hopes for a recovery from a historic economic plunge. Shares advanced in Paris, London and Hong Kong and Wall Street futures suggested a rise on the open. Markets in Tokyo, Shanghai and Seoul were closed for holidays.