Mirroring the emptying of supermarket shelves around the world, indebted corporates have rushed into money markets to hoard dollars, with a global shortage of greenback funding threatening to cripple firms from airlines to retailers.
The Federal Reserve took emergency action to help the economy withstand the coronavirus by slashing its benchmark interest rate to near zero and saying it would buy $700 billion in Treasury and mortgage bonds.
US President Donald Trump’s Europe travel ban announced sent all three major US stock indexes into a tailspin, slamming the book on the longest-running US bull market on record.
Leaked documents revealed that the daughter of Angola's former president Isabel dos Santos made her fortune through corruption and exploiting her own country’s natural resources.
The preliminary pact that the two sides are set to sign this week includes a section that's intended to prevent China from manipulating its currency to gain trade advantages.
Big pay rises are in store for players at January's Australian Open with organisers announcing a boost in the total purse to almost $50 million.
Beijing is often accused of using loans to entrap economically vulnerable countries, but on closer inspection, it doesn't come across as a predatory lender.
The fallout from the 2008 global financial crisis refuses to go away and now leading economists may be looking to upend traditional neoliberal economic policy.
The transition to digital transactions will help country cope with a shrinking population and a tight labour market.
Move comes as a surprise, as many expected an average drop of 100 basis points in one-week repo rate, according to Anadolu Agency poll.
Restaurateur Mehmet S. Tezcakin has been collecting Ottoman and Turkish currency for over 40 years. He now thinks his collection should be preserved Turkey’s Presidential Library.
The bank lowered its one-week repo rate 325 basis points from 19.75 percent to 16.50 percent.
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