Legal & Regulatory
China ready to cut rates again on fears of deflation - sources
China's leadership and central bank are ready to cut interest rates again and also loosen lending restrictions, concerned that falling prices could trigger a surge in debt defaults, business failures and job losses, said sources involved in policy-making.
PBOC cuts benchmark interest rates
Recently released Chinese data suggest a grim economic outlook for the country. Foreign direct investment has been consistently declining; consumer price index showed some stability this month but remained below 2 percent, flash manufacturing PMI also declined in November and gross domestic product fell to its slowest pace since the global financial crisis, registering 7.3 percent year-on-year expansion in the third quarter.
Falling oil prices influencing global monetary policies
While the fall in the oil prices is generally regarded as positive for many businesses, it has a major influence on inflation expectations, interest rates and bond prices at the global level.
Singapore to regulate taxi-booking apps Uber, GrabTaxi
Singapore said on Friday it plans to regulate fast-growing third-party taxi booking services like Uber and GrabTaxi for the first time, capping fees and requiring them to dispatch only licensed cabs and drivers.