Employees at a bank in Dongguan, China. Reuters
China’s central bank unveiled a key interest rate reform on Saturday to help steer borrowing costs lower for companies and support a slowing economy that has been hurt by a trade war with the United States.
The Asian Development Bank (ADB) approved $1 billion in immediate budget support to Pakistan to shore up the country’s public finances and help strengthen economy besides approving $300 million to support energy sector reforms.
China’s foreign exchange reserves fell $9 billion in November to $3.096 trillion, central bank data showed on Saturday, as Washington and Beijing remained locked in negotiations over an interim trade agreement.
China’s central bank said it will inject 1.2 trillion yuan ($174 billion) worth of liquidity into the markets via reverse repo operations on Monday as its stock markets prepare to reopen amid an outbreak of a new coronavirus.
Robots are coming increasingly under the scanner not just at the government level but also in social circles. They are believed to be able to perform a range of tasks, from doing domestic chores to taking care of the elderly and even conducting a human orchestra! In the
German business morale rose unexpectedly in February, a survey showed on Monday, easing recession fears in Europe’s largest economy and reflecting a slight improvement in its manufacturing sector, which has been struggling with falling exports.
Gold prices climbed more than 2 per cent on Monday to their highest since February 2013, as spikes in coronavirus cases in several countries outside China deepened worries about a hit to the global economic growth, prompting a flight to safe havens.