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China cuts amount banks hold in reserve to boost lending
China cuts amount banks hold in reserve to boost lending
Economy
by  AFP

China on Friday cut the amount banks must hold in reserve, releasing an estimated $142.6 billion in liquidity into the financial market as leaders embark on one of their biggest drives in years to kickstart growth. Also Friday, the bank cut the seven-day reverse repo rate -- the short-term interest paid by the central bank on loans from commercial lenders -- from 1.7 percent to 1.5 percent.

Hong Kong, Shanghai extend surge as China optimism boosts markets
Hong Kong, Shanghai extend surge as China optimism boosts markets
Economy
by  AFP

Hong Kong and Shanghai ploughed on with their China-fuelled rally Friday on hopes that Beijing will press on with new plans to boost the world's number two economy. Hong Kong soared more than three percent in opening trades before paring the gains, while Shanghai was also sharply higher -- both markets are now up around 10 percent from Friday's close.

Vietnam president reiterates support for Cuba during official visit
Vietnam president reiterates support for Cuba during official visit
Economy
by  AFP

Cuban President Miguel Diaz-Canel held talks with his Vietnamese counterpart To Lam in Havana on Thursday, with the two countries signing several bilateral agreements during the visit. Several bilateral agreements were signed during the visit, notably in the fields of health and agriculture.

Mexico's new president takes reins of shaky economy
Mexico's new president takes reins of shaky economy
Economy
by  AFP

Mexico's incoming president Claudia Sheinbaum will inherit an economy plagued by uncertainty after reforms pushed through by her predecessor upset investors and key regional trading partners. The United States, Mexico's main trading partner, has warned that the reforms threaten a relationship that relies on investor confidence in the Mexican legal framework.