Market analysts said the size of the rate cut and the timing were a big surprise, and they believe further monetary stimulus could follow.
Asian investors were in selling mood on Friday as several Fed officials called for action on fighting inflation, with talk of four or even five rate rises in 2022
China Evergrande reached a deal with bondholders to delay redemption and coupon payments for a 4.5 billion yuan ($707.52 million) bond
The deal includes retail banking and credit card businesses, but excludes the bank’s institutional businesses in all four countries
Steel production curbs imposed to combat pollution dented demand and pulled prices of the key ingredient off a historical high
The $508 million approved will cover the first quarter of 2022 and is almost entirely dedicated to funding government institutions
Hong Kong’s economic prosperity was tied to the Chinese mainland and the city would become a global hub for transactions in the yuan
India’s fast-rising Russian oil imports are being matched by its rising oil exports suggesting it may be reselling Russia’s oil to the West.
US tech giant Apple told its Taiwan suppliers that products moving to China must be labelled to state that the island is a part of China and not an independent nation
Despite a moribund British economy and heavy corporate tax, Indian-owned tech firms are growing in the UK.
The Bitcoin mining ban in China last year had collapsed its crypto markets. Despite that, the country has reemerged as a major bitcoin mining hub, according to research by the UK's University of Cambridge.