Underlining the erupting problem of liquidity crunch in its financial system, the world's second largest economy's central bank the 'People's Bank of China' has released GBP14 billion emergency funds into the domestic banking system to support the cash supply mechanism.
China is reportedly planning to cut deposits that banks are required to hold in reserve to counter the effects of a weaker currency.
With Reserve Bank of India (RBI) licensing 11 companies to commence banking operations as 'Payment Banks,' Indian banking system is poised for a major revolution in the days to come.
The reduction in consumer spending and drop in exports are squeezing the world's third largest economy. During April-June quarter, exports from Japan eased putting further pressure on the Japanese economy, which slowed down at 1.6 percent annual growth rate as against the forecast of 1.9 percent.
The world's second largest economy China has to wait for one more year to make its currency 'Yuan' a part of International Monetary Fund's (IMF) currency basket. Dashing the dragon country's hopes, IMF's board favored a decision to keep renminbi as it is until 30 September 2016 year.
Hyundai and Kia Motors reportedly changed their China executives after sales in China significantly reduced. The company plans to improve its selling strategies to cope with the ever-changing needs of the Chinese market with the help of new executives.
China's main Shanghai stock index finish higher Wednesday, but other stock markets were mostly lower as investors are anxious about the volatile Chinese market.
The Chinese stock market is registering a volatile trading pattern as investors became nervous about the future course of the market. The slowdown in the dragon country's economy growth has become a cause of concern for the investors.
Toshiba Corp has restructured its board of directors, getting mostly people from outside the company, including three former chiefs of major Japanese companies.
Due to a series of explosions leaving hundreds of people death and others injured, while some are still missing, China is about to start a wave of insurance claims.
Millions of retailers in India are starting to get the hang of selling products online, and the platforms where they offer their products are giving them free training on how to properly prepare and sell their products. Free "universities" are becoming a fast growing trend among India's top online retailers.
Japan's economy has been facing tough times when its economy began to contract by 0.4% in the year's second quarter. It was an official data shown on Monday emphasizing how the prime minister's 'Abenomics' growth program doesn't work.
Prime Minister Narendra Modi recruited executives from the private sector to head two of the biggest state-owned banks, making it the first such appointments in a wide-range reform strategy to challenge the dominant but often inefficient lenders backed by the government.
Nestle finds relief when the Bombay High Court on Thursday lifts the food safety regulator's order of a nationwide ban on the sale Nestle India's famous 2-minute Maggi Noodles.
Though China's growth rate is slowing down, the world's second-largest economy can bounce back to regain the momentum and manage the risks involved, observes International Monetary Fund (IMF).
Subscribe to VCpost newsletter
- Comcast's super-fast cable internet will surpass Google Fiber
- Rovio seeks to rebound with 'Angry Birds 2' by tailoring an Asian fit game
- Intel invested $60M to develop drones with Yuneec International
- Lettuce as a "Miracle" sugar substitute and other biotech startup projects
- Michael Jordan proves he wasn’t after the money, Donates $8.9M to charity
- Toms Shoes CEO takes 12-week paternity leave; applauded by employees
- Chipotle to go on hiring spree; 4,000 people new jobs up for grabs on September 9
- First WeChat, Then WeRun