Headlines - IMF approves $3 bln bailout for Sri Lanka ( ) - Volkswagen's plans to pull out of Russia at risk after assets in country are frozen ( ) - Credit Suisse promises to pay bonuses to staff despite UBS rescue ( ) - Bank turmoil risks swaying ECB's next rate decision, says Lagarde ( )
Overview - The International Monetary Fund (IMF) on Monday approved a $3 billion bailout for Sri Lanka in a move to help the island nation to emerge from its worst financial crisis since decades.
- A Russian court on Monday froze all Volkswagen AG assets in Russia, leaving the German carmaker's year-long efforts to exit Russia in jeopardy.
- Credit Suisse Group AG , which was acquired by UBS Group AG told its staff that the troubled lender would pay bonuses and provide pay hikes as planned this year.
- European Central Bank President Christine Lagarde on Monday acknowledged that the crisis in the financial sector could force the central bank to halt raising interest rates in case the turmoil hit lending to eurozone's households and businesses.
(Compiled by Bengaluru newsroom)
