top of page
Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.


The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen


26 Dec 2021

China’s PBOC Pledges Additional Monetary Assistance to Boost Real Economy

The Index Today

The People’s Bank of China on Saturday has unveiled plans to commit extra financial support in order to promote the country’s real economy.

In a statement the central bank said that it intends to adopt a more “proactive” approach of the monetary policy in an attempt to make it more seamless and progressive. Governor Yi Gang presided over the monetary committee’s meeting on Friday as they convened to discuss related plans. This comes as the central bank announced plans to revive and support China’s strained real estate sector in order to protect the interests of potential and existing property owners, and to effectively resolve the issue of rising housing demand.

Policy makers also echoed their earlier decision to ensure the moderate expansion of liquidity while also steadying credit growth.

This comes as the central bank directed banks in the beginning of December to reduce the standard interest rates by five basis points, after discharging $188 billion in funds by slashing the amount needed to be held in reserve.

©Photo: Bloomberg

Clay pottery with table linens
bottom of page